Greg Hague, who has been a fierce critic of the ibuyer home-flipping model, is now joining the fray.But his new company Homes2X has a twist: The seller gets to keep the profits, minus a fixed fee of 1.5% for the service.”For years, I have been an outspoken critic of the home flipping business,” said Hague, founder and CEO of Scottsdale-based real estate firm 72Sold. “The whole home-flipping model and these companies like OfferPad and OpenDoor, their business model is not one designed to serve people. It’s designed to profit on people.”The home-flipping business model is to buy a home for a low price and sell it for a higher price, typically after some type of renovation.”There are a lot of people who own a home who don’t have a good sense of what their home is really worth,” Hague said. “Many times these people end up leaving an incredibly large amount of money on the tabl …
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