Reply.com is a new real estate site that allows a buyer to make an unsolicited offer on a property. For $24.95, reply.com will create, prepare and priority mail an offer to a seller. The reply.com site provides estimated valuation information for properties in a manner similar to zillow.com. Reply.com offers are non-binding and serve as a means for connecting buyers and sellers without real estate agents.
This model works well for properties that are not currently on the market, as most listed properties would contractually require a broker commission payment regardless of who produces the buyer. Reply.com is an interesting concept and one that has the potential to catch on quickly once it gains critical mass and credibility in the marketplace.