M13 and Homebrew lead the investment as HomeLister expands the reach of its online home selling platform that has sold $1.9B of homes and saved homeowners millions in equity
SANTA MONICA, Calif., June 30, 2022--(BUSINESS WIRE)--HomeLister, the online home selling platform that has enabled thousands of home sellers to save over $77.5M in home equity, today announces its $10M Series A round led by M13 and Homebrew. Founded in 2015, HomeLister offers home sellers a new way to sell their homes and keep up to 30% more of their equity in their homes. Through a combination of technology and a seasoned team of real estate experts, HomeLister enables homeowners to keep more of their equity —potentially tens of thousands of dollars, while providing the transparency, control, and expert support that everyone wants when they sell their home. The company currently operates in 17 states with plans for continued expansion throughout 2022.
More than 6.5 million houses are bought and sold annually in the U.S. While selling one's home is often an emotional decision, the process is mostly administrative and paper-driven, in which sellers lose out on the equity value of their homes. HomeLister automates the sale process and fixes the cost of the sell-side agent, allowing sellers to save an impressive $21K on average, with the average seller saving 3.7% of their home price.
In addition, it shortens the median days on market from 16 days to 9 days, while achieving the same price sales or better than traditional agents. To date, HomeLister has sold over 3,750 homes in 17 states, totaling over $1.9 billion in transactions, and saved sellers more than $77.5 million since inception.
HomeLister was founded by software engineer and real estate developer, Lindsay McLean, HomeLister CEO, and attorney and real estate broker, Jennifer Stein, HomeLister General Counsel.
"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," said Lindsay McLean, CEO, and co-founder, HomeLister. "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."
HomeLister provides sellers with a technology-driven platform that gives them all the tools, professional support, and confidence they need to quickly and easily sell their homes at an affordable, fair, flat fee. Sellers can customize the level of control they have over selling their house with packages that range from the basic, for those who just want their home listed on the MLS, to a Platinum package that provides real estate expert advice from staging to offer to contract.
"It has been a strong seller’s market in real estate in recent years with demand heavily outstripping supply. This period of quick sales has clearly illustrated the inefficiency and cost implications of the traditional brokerage service: a model that is prime for disruption. HomeLister attacks this issue with a thoughtful and valuable digital solution that has great traction with sellers and significant breathing room for expansion and growth. M13 is delighted to invest in a real estate tech company that is boldly disrupting the way homes are sold, and removing unnecessary costs from the transaction," said Karl Alomar, Partner at M13.
"Real estate is often the largest asset for most people, in addition to being the largest asset class in the United States. HomeLister is re-designing the home selling process to ensure that sellers keep as much of their equity as possible, which should ultimately help buyers as well. Homebrew is proud to partner with Lindsay McLean and her team as they expand into more markets and continue to make selling your home simpler, faster, and less expensive," said Satya Patel, Partner at Homebrew.
HomeLister was built by a team of real estate professionals passionate about creating a way for homeowners to sell their homes quickly and easily. HomeLister’s user-friendly tech platform facilitates the administrative-heavy process of listing and selling a home. The company currently operates in 17 states and has saved homeowners more than $77.5 million in commissions to date.
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