Marka España Real Estate Review by Bancraith

If you're thinking about selling your home, you probably have a long list of questions about how to maximize your profit. One of the most important issues is choosing the agent you hire to sell.

If you live in the Southeast, one option is the brokerage company Mark Spain Real Estate, which offers several ways to sell a home in specific markets. Read on to get a more in-depth look at the company, its work and whether it's right for your needs.

Mark Spain Real Estate

Mark Spain is a real estate brokerage company based in Alpharetta, Georgia (which is near Atlanta). The company was founded in 2016 when Mark Spain, its founder, left his position as an agent at Keller Williams to start his own firm.

Today, it has several offices throughout the Southeast and works in Georgia, Tennessee, North and South Carolina, Florida, Alabama and Texas. The company offers home sales services as well as buying and renting options.

How does Mark Spain Real Estate work?

The company operates in a similar way to most real estate brokerage companies. Buyers and renters contact a Mark Spain agent to find the right property for them. For home sellers seeking a traditional listing on the open market, a Mark Spain agent conducts a comparative market analysis to determine the home's value, posts the home for sale on the local MLS and advertises it for sale like any other agent.

According to the company's website, their traditional listings sell in an average of 25 days and typically sell for 98 percent of the original price.

This isn't the only way to sell a home with the company.

Selling your home with Mark Spain

Instead of selling your home with Mark Spain as described above, you can also sell it to a company without an agent and in cash through its Guaranteed Offer program. It works similarly to most cash home buying companies: they make a cash offer on your home, subject to inspection, and if you accept the offer, you can close the deal in as little as 21 days.

But not all homes qualify for the Guaranteed Offer program. To qualify, the home must be single-family and:

• Located in one of Mark Spain's service areas and not in a potential flood zone
• Built after 1960
• Order between $50,000 and $650,000
• Be owner-occupied or free of tenants
• Not be in disrepair or owned by a bank
• Not have illegal additions or serious foundation problems

This option can be very helpful if you are hoping to buy a home before selling your current one, because you will have a clear idea of how much money you will have. However, the downside is that companies that buy homes for cash usually offer less than you can get from a traditional open market sale.

How does Mark Spain make money?

Although Mark Spain Real Estate does not disclose details of its business model, real estate transactions involving agents are usually commission-based. Agents get a percentage of the sale price from each transaction, and a portion of that percentage usually goes to the brokerage company.

The company says it sold $3.8 billion worth of real estate in 2022, so even a small percentage of that would be a huge profit.

If you're thinking about working with Mark Spain, be sure to ask your agent for a full breakdown of the commission you'll have to pay and what closing costs you'll have to bear, if any.

It's also likely that the company makes money on the resale of homes it buys through its Guaranteed Offer program. While Mark Spain does not purchase distressed homes in "as is" condition like most cash forward home buying companies, the purpose of offering fast cash forward property sales is usually so that the buyer can then renovate the property and resell it at a profit.

Mark Spain service areas

Mark Spain Real Estate is not a national operator, but it has extensive coverage across the south east of the country. As of May 2023, the company serves the following markets:

• Alabama: Birmingham
• Florida: Jacksonville, Orlando, and Tampa
• Georgia: Alpharetta, Atlanta, Athens, Buford, Marietta and Stockbridge
• Carolina North: Charlotte, Greensboro and Raleigh
• Carolina South: Greenville
• Tennessee: Chattanooga and Nashville
• Texas: Dallas and Fort Worth

Alternatives to Mark Spain

There are many other ways to sell a home in the southeast region, a particularly popular area for real estate these days. Here are some alternatives:

• Use a different brokerage firm:According to the National Association of Realtors, there are more than 106,000 brokerage firms nationwide. Ask for realtor recommendations from your friends and family in your neighborhood and interview several candidates to find the right one for you.
• Find an iBuyer or home buying company: If you're thinking about Mark Spain's Guaranteed Offer program, you may also be interested in iBuyer and other home buying companies. Two of the best-known names in iBuying, Opendoor and Offerpad, also operate in many of the same markets as Mark Spain, including Atlanta, Charlotte, Tampa and Dallas-Fort Worth.
• Do it yourself: If you have the time and are confident in your negotiating skills, consider selling your home yourself (FSBO, or sale by owner). However, be prepared to work hard to promote the listing and attract interested buyers.
• RENT it: Depending on your financial situation, it may make sense to keep the house and generate rental income instead of selling it. If you're thinking about it, make sure you have what it takes to be a landlord.

The bottom line: should you use Mark Spain Real Estate? The company offers several options for selling your home, including a Guaranteed Offer program, but that doesn't necessarily mean it will be the best choice for you. If you live in one of the company's service territories, check out their online reviews and ask people you know if they've had an experience with them. If you do decide to use their services, be sure to have a clear idea of how much commission and fees you'll have to pay before you sign anything - their website doesn't answer this question, so you'll need to ask it directly.