Beycome review: What you need to know

Navigating the real estate market can be a daunting task, whether you’re buying or selling a home. The process often involves finding an agent, preparing the property, hosting open houses, and negotiating deals. Beycome, a Miami-based online real estate company, aims to streamline this process, allowing homeowners to list their properties and buyers to find and tour homes without the need for a traditional real estate agent. In this article, we’ll delve into how Beycome works and explore its pros and cons.

Beycome for Sellers:

For sellers, Beycome operates on a “for sale by owner” (FSBO) model. There are three tiers of FSBO packages, each offering different levels of services:

1. Basic ($99): This tier includes listing your home on the local MLS and assistance in scheduling open houses.
2. Enhanced ($399): In addition to Basic services, this package offers professional photos, promotional materials, a yard sign, and more.
3. Concierge ($599): This comprehensive package encompasses Basic and Enhanced services, along with a 3D tour, marketing and negotiation support, a closing coordinator, and a comparative market analysis.

One of Beycome’s main advantages is that it empowers sellers to handle the process themselves, avoiding the need to pay a traditional agent’s commission.

Beycome for Buyers:

Buyers can use Beycome to search for homes, schedule in-person tours, and submit offers directly through the platform. When a buyer closes on a home purchased via Beycome, the company takes a 3 percent commission, but only retains 1 percent of it. The remaining 2 percent is refunded to the buyer, either as a credit towards closing costs or a direct check, with the average buyer receiving a credit of $12,000.

How Beycome Makes Money:

Beycome generates revenue through two primary channels: seller packages and buyer commissions. Seller packages range from $99 to $599, depending on the level of service chosen. Additionally, when a buyer purchases a home through Beycome, the company earns a 1 percent commission based on the sale price.

Beycome Service Areas:

It’s important to note that Beycome currently operates in 10 states, including Alabama, California, Connecticut, Florida, Georgia, Illinois, Minnesota, North Carolina, South Carolina, and Texas.

Pros and Cons:

Pros:

1. Cost-effective for sellers, with packages starting as low as $99.
2. Customizable packages allow sellers to choose only the services they need.
3. Buyers receive a 2 percent commission refund, potentially saving thousands of dollars.

Cons:

1. Limited service area, currently available in only 10 states.
2. Requires a high degree of DIY involvement, which may be challenging for inexperienced buyers or sellers.
3. Some of the most beneficial features are only available in the highest-tier package.

Beycome Competitors:

If Beycome doesn’t align with your preferences, several alternatives offer similar services, including Houzeo, Isoldmyhouse.com, and FSBO.com. Additionally, low-commission agents and iBuyer options may be worth exploring.

Beycome vs. Real Estate Agents:

Using Beycome entails a more hands-on approach compared to working with a traditional real estate agent. While agents provide expert guidance, Beycome offers a cost-effective alternative for those willing to take on the extra effort.

Conclusion:

Beycome can be a valuable resource for buyers and sellers looking to save on real estate commissions. However, it’s essential to consider your level of experience and comfort with a DIY approach. For those prepared to put in the work, Beycome provides a viable option for navigating the real estate market with cost-efficiency in mind.