Real estate has long been one of the most popular investments in the world. After all, the amount of space to live in the United States is as big as it will ever be. With supply remaining constant over time, it is no wonder than demand rises and thus, so does the cost of real estate. This has led many startups to enter this space hoping to tap into a newfound idea that will ultimately turn the real estate industry on its head. So what are three of the most up and coming real estate startups that you should keep your eye on as they begin to expand?
Home61 is a small but mighty real estate company that recently went through a massive round of funding so that they can expand outside of the state of Florida and utilize their unique platform in other states. What makes Home61 so unique is the fact that they don’t pay their real estate agents like other companies. Instead of being on a commission payment scale, the real estate agents for this company are paid a regular salary. While this may seem strange to people not in the real estate business, those in the industry realize that this has a very important impact on the sales process. The main impact is that real estate agents no longer have the incentive to up sell clients and try to get them to purchase the most expensive homes possible. This means that real estate agents can now show their clients homes that they believe accurately meet their needs and requests. This has ultimately led to much higher rates of customer satisfaction and led to many more sales for the company. This improved success rate on home sales is what has led outside investors to see the benefits of this new real estate business and support it with their hard earned dollars.
Historically, a real estate agent has handled every aspect of selling a home such as finding the home for clients, showing the home, and ultimately filling out the proper paperwork to make an offer on the home and close on the home. FlyHomes is seeking to change this model by having a variety of employees who specialize in only one specific part of the home buying process. This allows purchasing any piece of real estate to be a much quicker process. Each member of their team knows exactly what their role is and how to execute it both quickly and efficiently. When more real estate deals can be finished in a shorter period of time, more profits are possible. This has led investors to flood the FlyHomes team with funding to expand their brand.
This real estate startup is different from the other two in that instead of being designed with the consumer in mind, this system was designed with the real estate agent in mind. Amitree utilizes artificial intelligence to look through the thousands upon thousands of emails that real estate agents trade with their clients and sort them into a variety of categories which can quickly and efficiently organize what the next step should be for every consumer. This means that real estate agents will never again find themselves mixing up their clients and needing to backtrack to complete a task that they already thought was done. The program running this company has garnered millions of dollars in outside investment to further expand.
Real estate is an investment that is here to stay. Whether you are someone hoping to invest in a home to live in or an investor hoping to buy a rental property, you should always be in search of the latest and greatest trends in the industry so that you can have a competitive edge and some sort of home protection plan. These up and coming startups are all seeking to shake up the real estate industry and change the way business is conducted.