A partnership between Web-based real estate broker Allre and miiCard will provide customers with a real estate transaction platform that securely connects homeowners and buyers, enabling home purchases and sales completely online and independent of real estate agents.
Allre has announced that the partnership with miiCard, an online identity proofing service, will save homeowners time, money and stress by providing secure disclosure, identity verification, valuation and negotiation tools minus the real estate agent’s commission.
“Allre is disrupting the real estate industry, empowering homeowners just as Expedia and others did for travelers,” says miiCard CEO James Varga. “For the first time ever, an entire home purchase from start to finish can happen online, it’s an example of the powerful new online services that are enabled with true trust through proven identity verification.”
In addition to it’s latest partnership with miiCard, Allre also maintains professional relations with FRS National and Guaranteed Rate to manage a complete real estate transaction on its web platform. The new online platform promises to provide for buyers and sellers the same tools and support they would find in a traditional, in-person transaction, but the major draw for online transactions is the elimination of agent commissions, which typically consist of 6% of the purchase price.
In lieu of the traditional agent commission, Allre charges a flat $100 fee to initiate closing and another $100 at its completion.
miiCard’s brings its Level of Assurance 3+ identity verification service that leverages the authority and security inherent to a member’s online financial accounts – a utility that proves online identity to the level of a passport or photo ID check. Prior to conducting a transaction on the new online system, both the homeowner listing a property and the prospective buyer must first sign up for a miiCard account to verify their true identities. Once they have their miiCard, both parties can move into direct negotiation en route to an eventual purchase.
Moreover, miiCard can be used as a global Bring Your Own Identity (BYOID) service that gives users the convenience, control, ease and flexibility of a single trusted identity that can be used across the web.
The Allre system will, at launch, be available in San Diego, Calif., but there are plans to roll the system out to other major markets, with the ultimate goal of being a nationwide system.