July 12, 2016
When it comes to big purchases, buying a house takes the cake. While you might think your car is super expensive or your iPhone is a bigger investment, signing the papers to make your house a home can make all the difference in your financial situation. Unfortunately, the real estate industry is rife with distrust and dishonesty when it comes to the actual process. Some 70 percent of buyers don’t feel comfortable being sold by real estate agents. Fortunately, one startup is hoping to put the trust back into the process. And it comes in the form of no commissions.
That’s right, Houwzer is an online real estate broker that has salaried employees rather than commission-based workers. This not only allows employees to enjoy the freedom and stability of a yearly paycheck, it also keeps them honest when showing a house. No more pushing for mansions you can’t afford, no more insisting on marble counter tops, and no more stopping by the Home Alone house “just to see if it interests you.” They are committed to keeping the salesmen at bay so you can make the right choice on your living situation. And it seems to have a positive effect on employees as well.
“When agents are empowered with infrastructure, training, and brokerage leads, the results are powerful,” said Mike Maher, co-founder and CEO of Houwzer in an interview with Tech.Co. “For example, Houwzer‘s first three buyer agents will out 3x outproduce the rookie of the years from local franchise brokerages.”
Similarly important to the Houwzer model is their extensive use of technology in the process of buying a home. While you are typically victim to fees, costs, and inefficiencies when buying a house, this Philadelphia-based startup uses technology to produce listings, saving a boat load of money on a wide range of dwellings. They also use technology to market these listings so you aren’t stuck looking through one bedrooms when you are looking for a four bedroom. And when you use technology, there are always added benefits.
“Because Houwzer leverages technology to market listings, it drastically reduces the cost to sell a listing,” said Maher in the same interview. “Additionally, there is a listing team who focuses on delivering exceptional customer service. These listings enable the brokerage to generate leads for its agents.”
While the real estate industry has been hovering in the past for the last few years, Houwzer might just have the recipe it needs to modernize itself before it’s too late. Banks are jumping on the fintech train. Pilots are adjusting to the ride-sharing model. Even Nintendo has made the futuristic jump into mobile gaming. Real estate is just another domino to fall in the modernization of society.
Photo: Flickr / Thomas Hawk
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