Tech Startup Shakes Up Real Estate Industry
What is Homeshake?
Homeshake is a real estate tech startup that connects buyers and sellers directly through a secure dashboard eliminating the agent and their high commissions—charging a modest 1% commission vs. the standard 6%, sellers pocket an average of $25k in agent commissions at closing. Homes typically close in 10 days.
The Current Landscape
The current landscape of real estate has remained unchanged for decades. Sellers falsely believe they must contract with an agent to sell their home and list it on the MLS. Agents lock sellers into paying 5-6% commission on the sale price of their home. On a $350k home the seller would have to pay an agent $21,000 at closing. The same house sells for $350k through the Homeshake model; the seller would only pay $3,500 at closing, pocketing $17,500.
Competitors of the Homeshake model are the National Association of Realtors who set the standard real estate commissions at 6% for agents. They control the MLS service whereby only licensed real estate agents are permitted to list homes for sale.
Company Birth Story
The birth of Homeshake came about because two co-founders, Nick Rabin and Jonathan Bennie believed the time was right to disrupt the status quo and reinvent a new real estate model. A user-friendly platform-driven by technology and social trends to put more money back in the hands of home sellers rather than in the pockets of real estate agents.
The Team Culture
The core team of Nick Rabin (Founder and driving force behind Homeshake), Jonathan Bennie (Co-Founder and real estate attorney helping Homeshake’s customers), and Ian Hart (Sales Director and Homeshake’s growth engine) have chosen to take on one of the last undisturbed industries in the American economy – residential real estate. The industry is incredibly well protected, so the team has learned to celebrate customer wins – big and small. Whether it’s publishing a new listing, having an offer accepted, clearing inspections, or closing the deal, all done the Homeshake way. The team shares in the excitement and satisfaction that Homeshake customers feel. Hugs and tears of joy are the rule, not the exception, at the Homeshake closing table. Creating another option for buyers and sellers, a smarter, friendlier, value-conscious option, where the emotion and humanity of buying and selling a home is retained, is what’s important to the Homeshake team.
The solution was to create a secure dashboard where sellers could list their home in a few clicks. Buyers can send a direct message to the seller. Both parties communicate directly and, sellers schedule home viewings at their convenience to show potential home buyers their property. Buyers make offers directly to sellers through their dashboard. Homeshake’s software keeps everything organized and simplifies the sale process from contract through closing. Homeshake’s team of licensed real estate attorneys, brokers, photographers, and more, assist buyers and sellers throughout the entire process. They provide valuable support to both parties every step of the way. Sellers avoid paying tens of thousands in equity to a real estate agent.
Homeshake cofounder, Nick Rabin states, “To date, Homeshake customers have saved over $1-Million in commissions. We are a real estate company that empowers buyers and sellers to work directly. Home sellers avoid paying high commissions and buyers get access to exclusive homes. It’s a win-win for consumers.”
Tres Studer, “Let me continue the parade of 5 star reviews with the qualifier that if there was a 6 out of 5 Homeshake would earn that because of how much different they are than the rest of the options in real estate. He has family members who are realtors and chose to sell his home with Homeshake because of the incredible value proposition that can't be matched.
To get right to the heart of it, Homeshake saved them $30,000 when selling their home... let that sink in... that's a new car (well at least it was before the car shortage). Homeshake basically gave them the cash to buy a new car for using them. That should be enough reason but there is more!
The premise of DIY home selling is nothing new. Any person can go out and hire a lawyer and represent themselves, do all the legwork of posting on Zillow and other DIY listing sites, as well marketing the home, doing follow ups with prospective buyers. For just a small fee Homeshake does all of that for you and all you are left with is walking people through your home. Honestly that's extra opportunity is a preferred benefit because you can answer any concerns honestly with the buyer and show the things that a realtor may miss that are unique about the home. The team also does such a great job on the listing and marketing that even the least tech savvy person will feel like they are doing everything perfectly!”
Tres Studer mentioned his experience with Homeshake went so well that they listed with their pictures on a Friday and they had their first offer (right at asking, and without having to pay out 7% fees) from the first family that came through. The process was so insanely simple and saved SO MUCH money, time, and energy!
If they had utilized a traditional realtor they may have gotten into a bidding war in this market and got another 2-3% on home... but that's nothing compared to the 6% they saved and had everything smooth and simple. In an exploding market like this there is no better decision than to use Homeshake to sell and buy your home and they are grateful for the team. They are willing to be a personal reference for anyone that has questions here and wants to talk to a seller directly, just get in touch with Jonathan and his team and they are happy to provide a live referral for what will end up being one of your best lifetime decisions!”
Check It Out : https://homeshake.com/
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