SALT LAKE CITY — It’s taken real estate tech company Homie less than 18-months to climb to the No. 2 spot in the state for residential real estate listings, offering a start-to-finish package for home sellers that dispenses with commissions in lieu of a flat fee, regardless of the property’s value.
Now, the Draper-based company has launched a buyer-side package that rebates the standard 3 percent commission back to the client and has also added in-house financing through its Homie loan program.
“Since we launched, our focus has been on helping people sell their homes, though we’ve had opportunities to assist buyers as well,” Homie co-founder and CEO Johnny Hanna said. “Now, we’re excited to officially introduce our buyer-side package.”
Hanna said Homie provides the same services as a traditional purchaser’s real estate agent, with assistance on finding comparably priced properties, putting offers together, negotiation, lining up inspections and appraisals and working through title and escrow requirements.
“Our end game is to automate the whole process,” Hanna said. “By doing that, we save the client money at almost every step in the process. It really makes sense to open up our services to buyers, because most people are doing the work of finding their new home anyway.”
What does differentiate the process, according to Hanna, is how costs are assessed. Instead of keeping the typical 3 percent of the home price as a buyer-side fee, Homie rebates the fee, which can be used to cover closing costs or buy down the purchaser’s loan interest rate. The only requirement, Hanna said, is that the buyer pre-qualify for a Homie loan. While it doesn’t obligate the applicant to finance through the company, Hanna believes many will opt to go with Homie for their financing, as well.
“We’re confident that buyers will see, if they shop …read more
Source:: Deseret News – Business News