HomeLister, an online selling platform that fixes the cost of sell-side agents, today announced raising a $10 million Series A led by M13 and Homebrew, according to a press release shared with FinLedger.
Founded in 2015, the company says it combines its technology and real estate team to provide homeowners an automated sales process, that fixes the cost of the sell-side agent and allows sellers to save $21,000 on average (or 3.7% of their home price).
It says this service enables sellers to keep up to 30% more equity in their homes and shortens the median days on market from 16 to 9 days, while achieving the same price sales or better than traditional agents.
HomeLister says that it has sold 3,750 homes in 17 states, totaling over $1.9 billion in transactions and over $77.5 million in saving since launch, and says it will use the capital to fund geographic expansion throughout 2022.
“We are bringing to market a solution that better reflects today’s competitive real estate landscape, where home values have risen faster than the average person’s salary, and 6% real estate commissions have gotten exceedingly more expensive relative to incomes over time. Technology can solve that problem by giving sellers the ability to manage the administrative parts of the sale themselves while getting the expert help needed from licensed agents at the right times,” stated Lindsay McLean, co-founder and CEO of HomeLister, in the release.
HomeLister says that through its platform, it provides several tiers of services to accomplish these sales and provides savings, ranging from a basic package that provides MLS home listing to a Platinum tier that provides “real estate expert advice from staging to offer to contract.”
“Like so many other parts of our economy, digital transformation can drive efficiency across many aspects of the home selling process without sacrificing quality. Knowing that a home sale is one of the biggest financial transactions of a person’s life, our goal is to put power and control back in the hands of sellers by letting them select the level of support they need and saving them tens of thousands in the process —while passing on savings to buyers in this tight real estate market,” McLean said.
In other recent proptech news, Stake CEO Rowland Hobbs discusses the company’s recent fundraising and how putting renters first can save owners and operators. Knox Financial also announced raising $50 million and expanding its loan product suite.