As manager of a Sotheby’s International Realty office in Colorado, James Simpson saw a change in the role of agents firsthand.

The rise of lockboxes allowed listing agents to forgo showings, and the introduction of e-signatures eliminated a lot of legwork. He also believed that a highly skilled transaction coordinator could process 400 deals per year.

Read the full survey findings of our hybrid brokerage report — or download the PDF, exclusively for Select members. Join today!

That is why he started SQFTx (pronounced “square foot”), a tech platform that gives partner brokerages a ready-made, limited-service tool to offer their sellers. It launched in May and has closed 12 deals.

Denver-based SQFTx is licensed as a brokerage in Colorado and Texas. It also feeds seller leads to partner brokerages on a geographic-exclusive basis, as it does with Dallas brokerage REConcierges and seven other partner firms.

A homeowner downloads the SQFTx mobile app and creates a listing, which is verified by a licensed broker and uploaded to the MLS, Zillow and ListHub, and hundreds of other sites.

sqftx-screencap

Buyers can download the app to schedule a showing. Buyers can either make offers directly through the app or through their agents.

Sellers can counter, reject or accept offers made through the app.

[Tweet “Sellers can counter, reject or accept offers made through the SQFTx app.”]

A contract is prepared by SQFTx and delivered for signatures. A transaction coordinator manages all post-contract deadlines and contingencies and shepherds the deal to closing.

Sellers pay a 1 percent commission on the list side. SQFTx and its partner broker split the fee.

Where SQFTx doesn’t have a partner, it pockets the full 1 percent.

SQFTx offers its tools in 18 markets across the U.S., and it plans to expand to 100 markets by the end of this year.

Simpson, a third-generation real estate agent, sees a bright future for his discount brokerage startup. “Our technology works 24 hours a day, seven days a week, providing round-the-clock empowerment in an industry that has for too long kept buyers and sellers from owning the sale and purchase of their home.”

Email Paul Hagey.

See a comparison chart explaining what each hybrid brokerage model does — and does not — include.

What should you do about hybrid brokerages? Here are 10 suggestions.

Redefy targets sellers with a discount broker model.


Inman Connect San Francisco is right around the corner — register now and save $200!

Start Inman Connect SF off right! Choose from three powerful events on Aug. 4. Reserve your spot now for Agent Connect, Broker Connect and Tech Connect.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×