✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.
Mark Spain Real Estate is a cash buyer. They work in 7 states and are popular for their Guaranteed Offer Program.
Editor’s Rating
User Rating
(3 Reviews)
Pros
- You can close the house in as little as 21 days.
- Mark Spain is known for their experienced agents.
Cons
- You could recieve a lowball offer of around 50% to 70% of your home's FMV.
- They don't purchase distressed properties.
- They have limited coverage area.
Mark Spain Real Estate is a cash buyer and a real estate brokerage. They operate in the Southeast U.S. and Texas. Their ‘Guaranteed Offer’ program provides homeowners with a cash offer in just a few days. If you opt for this service, Mark Spain Real Estate can close the sale as quickly as three weeks.
Most cash buyers usually offer 50% – 70% of your home’s fair market value. Mark Spain Real Estate might provide a similar cash offer. If so that is significantly less than your home’s actual worth. So, you lose thousands of dollars for a hassle-free sale.
Instead, you can sell your home with a Flat Fee MLS listing company. Listing on the MLS will get you multiple cash offers. As a result, you can get an offer that matches the FMV of your home.
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✍️ Editor’s Take: We recommend Houzeo over Mark Spain Real Estate. An MLS listing through Houzeo helps you get multiple offers. Compare Mark Spain Real Estate vs. Houzeo.
Is Mark Spain Real Estate Legit?
Yes, Mark Spain Real Estate is a legitimate cash home buyer. They were founded in 2016. Their experienced agents had 4,200 transactions in 2019 and served over 10,300 clients.
Mark Spain has helped over 11,200 families in selling and buying their homes. However, their service is limited to 7 states.
How Does Mark Spain Work?
Mark Spain Real Estate, like other cash home buyers, offers quick cash for your house. Here’s how you can sell to them.
Process of Selling With Mark Spain Real Estate
The process of selling to Mark Spain Real Estate is very simple.
- Submit Your Details: Fill out a form with your property details and contact information.
- Verification of Details: Once you submit your information, their team will confirm the home inspection date.
- Home Inspection: A certified real estate agent visits your home to gather a home appraisal.
- Get an Offer: Mark Spain Real Estate usually makes an offer 24 hours after the visit. They provide you with the contract that same day if you accept the offer.
Eventually, if you accept the offer, you can close in as little as 21 days.
What is Mark Spain’s Guaranteed Offer?
This program helps you get a competitive offer, sometimes multiple offers (depending on your home) from Mark Spain. However, if you do not meet their program parameters, Mark Spain offers to pair you with an Exclusive Listing Agent.
| Criteria | Eligibility |
|---|---|
| 🏠 House | Must be built after 1950. |
| 👪 Family | Single-family homes. |
| 💸 Worth | Must be worth between $50,000 – 1.5M. |
| 👥 Occupancy | Owner-occupied or vacant. |
| 🔧 Condition | Non-distressed, no foundation issues, and not in or near flood zones. |
Mark Spain Real Estate Coverage
Mark Spain Real Estate has coverage only in 7 states.
How Much Does Mark Spain Offer?
Industry rates for cash offers typically range from 50% to 70% of your home’s market value. Expect a similar offer from Mark Spain Real Estate. For instance, if a property’s market value is $500,000, the offer from Mark Spain Real Estate could be as low as $250,000.
It is advised that you list your home for sale by owner. Through an MLS listing, cash buyers also make offers. You could draw several investors, evaluate their bids, and choose the best one.
» What’s My Home’s Value: You can know your home’s market value with Houzeo’s free Home Worth Estimator. It helps you estimate the amount you will get upon sale.
Mark Spain Real Estate Reviews
Mark Spain Realty has an average rating of 4.7 out of 5 stars on Google Reviews. These ratings are based on an average of 400 reviews for different locations.
Mark Spain Real Estate Reviews: Praises
✅ Juliet was extremely happy with Mark Spain Real Estate’s service.
Ashley made our buying process a breeze! She was professional, knowledgeable, responsive, and friendly from the very start of the process. She was helpful in explaining the current market conditions and finding many options that suited our needs. We were also very comforted by her attention to detail and care for our buying timeline. Thanks to Ashley, our family found the perfect fit: great price, great location, great condition. I recommend going to Ashley if you are looking for an agent, and we will definitely be using her again for our moves in the future!
Source: Google Reviews
✅ Elaine was grateful for the exceptional assistance and support. Particularly praising the realtor’s dedication, patience, and ability to find a home they loved.
I would like to give a special thanks to *************************, she is truly a gift from God she made the experience of purchasing our first home easy,Me and my husband are over 60 yes of age .******* made things simple for us.always being available and answering all of our questions and concerns. Most of all her flexible schedule ,and patience.
Source: Better Business Bureau
Mark Spain Real Estate Reviews: Complaints
❌ Cynthia sought a cash offer to avoid the hassle of selling her home. Her property was listed on the MLS, whereas she was looking for a cash offer.
It turned out to be an absolute nightmare. My husband had passed and I decided to sell our family home. I reached out for a cash offer because I didnt want to deal with the c*** I was told that I had to sign the form that was similar to putting your house on the market. Cash offer was really never given to me. I believe it was just a ploy.
Source: Better Business Bureau
❌ Rick had a terrible experience with Mark Spain Real Estate. He initially got a lowball offer of $200k. Upon complaining he was given a revised offer of $425k.
Terrible experience! Probably would work for someone desperate to sell! Contacted Mark Spain Realty listened to their pitch, decided to move forward…..crickets, nothing. Called back to ask what was going on, immediately was told, “we’ll give you $200K for your home” no visits, no conversations, nothing. I complained, got a call from a sales mgr, she confirmed the offer, sight unseen! Bottom line, sold my home for $425K, more than doubled my $…..beware!
Source: Google Reviews
Mark Spain Realty: Pros and Cons
Here are some pros and cons of Mark Spain Real Estate:
✅ Mark Spain Real Estate Reviews Pros
Let’s see some of the advantages of working with Mark Spain Realty:
- Quick Closing: Mark Spain Real Estate closes on your home in as little as three weeks.
- Professional Assistance: Mark Spain Real Estate is known for its qualitative service and experienced real estate agents.
⛔ Mark Spain Real Estate Reviews Cons
Mark Spain Real Estate has the following disadvantages:
- Lowball Cash Offers: You will likely get an offer of around 50% to 70% of your home’s FMV with Mark Spain. This is standard industry practice with cash buyers.
- Little to No Scope for Negotiation: With cash home buyers like Mark Spain Real Estate, you don’t have room to negotiate your cash offer.
- Does Not Buy Distressed Properties: Mark Spain Real Estate does not buy homes with structural damage, foundation issues, or unpermitted additions.
- Limited Coverage: Mark Spain Real Estate only operates across 17 markets in 7 states including Texas.
Mark Spain Real Estate Competitors
» Jump to: Mark Spain Real Estate vs. Houzeo | Mark Spain Real Estate vs. Homevestors | Mark Spain Real Estate vs. Offerpad
1. Mark Spain Real Estate vs. Houzeo
Selling to Mark Spain Real Estate seems hassle-free. But you may not get full market value.
On the other hand, an MLS listing with Houzeo’s equips you with advanced technology to request the highest and best offer. You can also counter-offers to help you get a deal closer to your expectations.
| Mark Spain Real Estate | Houzeo | |
|---|---|---|
| Sale Price | 50% to 70% of FMV | Up to 100% of FMV |
| Customer Rating | 4.7 stars (500 reviews) | 4.9 stars (6,140 reviews) |
| Closing Timeline | 21 days | 2 to 60 days |
| Fees/Commissions | ❌ | $379 |
| Closing Costs | ❌ | 1% to 3% Closing Costs |
| Scope for Negotiation | ❌ | ✅ |
| Repair Costs | ❌ | ✅ |
2. Mark Spain Real Estate vs. HomeVestors
HomeVestors is a cash buyer who buys houses as-is. They have near-nationwide coverage so you can sell them regardless of your location.
When selling with HomeVestors, they estimate an after-repair value but give better offers. Moreover, with them, you get a chance to negotiate and secure a better deal.
3. Mark Spain vs. Opendoor
Opendoor is an iBuyer and has strict eligibility criteria like Mark Spain Real Estate. However, they offer around 70% to 80% of your home’s potential. If you have a distressed property, Opendoor is not an ideal choice for you as iBuyers usually have strict eligibility criteria.
“We Buy Houses for Cash” Companies Near You
There are other “We Buy Houses As Is” companies in the market. You can request offers from multiple cash companies and pick the one that suits you the best.
Other Options You Should Consider
- Sell to an iBuyer: iBuyers purchase homes needing minimal repairs in as-is condition. They can be a great option if you want to sell your house fast.
- Sell to Cash Home Buyers: Individual cash home buyers make all-cash offers, usually within 24 to 48 hours. They also let you skip listing on the MLS.
- Sell For Sale By Owner: For Sale By Owner websites help you list and sell a house yourself. Hence, you save thousands in agent commissions. Many FSBO websites will also help you with the paperwork.
Is Mark Spain Real Estate a Good Option?
Mark Spain Real Estate is a good option if you need quick cash for your property. However, with them, you may not get full market value for your home. Their offer would typically range between 50% to 70% of your home’s equity.
If you do not meet Mark Spain’s qualification for a cash offer they will still find you a buyer through an Exclusive Agency Listing. Ultimately, through this method, you will end up paying a commission.
So, we recommend you sell on the MLS via Houzeo. An MLS listing can get you multiple cash offers while Houzeo’s tech-centric approach will help you manage them. Beyond the MLS’s nationwide exposure, you could even find buyers willing to pay 100% of your home’s value in cash.
» Houzeo Reviews: Check out why more than 6,900 home sellers have rated Houzeo 4.9 stars out of 5 on Google and Trustpilot.
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Frequently Asked Questions
Is Mark Spain Real Estate legit?
Yes, Mark Spain Real Estate is a legitimate company founded by Mark Spain in 2016. The Guaranteed Offer service is what they are popular for. They do have a strong presence in major Southeast U.S. and Texas metro areas.
Does Mark Spain give good offers?
Yes, Mark Spain is known for providing good offers to clients. Their reputation makes them a trusted and reputable choice for real estate services.
How much does Mark Spain charge?
Mark Spain is known for providing transparent and straightforward pricing for their real estate services. Find out how they work.
Is Mark Spain a ripoff?
No, Mark Spain is not a ripoff. Mark Spain, the founder of Mark Spain Real Estate, is a reputable and well-known figure in the real estate industry. Many clients have had positive experiences with their services.
Does Mark Spain flip houses?
Yes, Mark Spain Real Estate is involved in house flipping as part of real estate business. It involves purchasing properties, making improvements, and then reselling them for a profit. Mark Spain has been known to engage in this type of real estate investment.
Reviews
(3 Reviews)
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A complete scam and waste of time and effort
Verified Reviewer
7th Nov 2023
This company is USELESS!! They do not put any effort into selling their house and they think that because of their gigantic size they can do whatever they want. Look at the average time their homes sit on the market (180+ days). DO NOT USE THIS COMPANY
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John Gieseler
Verified Reviewer
17th Feb 2024
I was appalled at the unethical and unprofessional practices of Mark Spain Real Estate. Wanting me to sign a fraudulent document, no accountability on the employees for their rude and offense behavior, of which I have texts and emails to back my statement. This is a company you certainly want to stay away from.
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North Dallas Victim
Verified Reviewer
27th Feb 2024
The agent from Mark Spain pushed hard to have us cancel our appointments with other home buyers. He promised they did not represent the buyer, and the house was selling as is, with the exception of cleaning the carpet, possibly replacing. Within weeks, there was a push to replace the roof and allow $15K for potential issues with the cast iron sewer. Spains Agent hired a plumber who scoped the drain but did not film the process or write a report. The new realtor has not indicated there was a request for the allowance by a subsequent buyer. There were no realtor open houses or even neighborhood open houses. The realtor did not follow the terms on pricing and then dropped the price to rock bottom. The listing contained inaccurate and incorrect information. The house has now sold to someone, not YET identified, for nearly $100k less than what we were told it would market for in the area. We paid an inflated sales commission of 6% AND inflated program fees. Under no circumstances would i recommend this company and am seeking counsel to pursue all legal remedies available to me . Google them for their nationwide reputation….
