Home Bay Technologies Expands to Georgia
Friday, January 19th, 2018
Home Bay Technologies Inc., a technology-driven real estate company, expands to Georgia. Currently serving California, Florida and now Georgia, Home Bay offers consumers a new way to buy and sell homes without commissions, saving home buyers and sellers an average of $16,000 per transaction.
Proprietary technology enables dramatic efficiencies. Work that typically consumes 60 hours for a traditional agent has been reduced to 2 hours through a smart platform that automates most of the process.
Home Bay employs a centralized team of top licensed real estate agents to advise consumers throughout the transaction. They provide traditional services such as pricing strategy, negotiation and closing management along with professional photography, an installed yard sign and exposure across the web, including the MLS.
Given these large efficiencies, Home Bay passes savings directly to consumers by charging a low flat rate of $2,000 to $3,500, in lieu of the standard 3% commission charged by traditional agents to sell a home. Buyers who use Home Bay receive 50% of the buyer agent commission upon purchasing a home.
The company is delivering better results than traditional real estate agents, even for luxury homes. Last month, Carl Westcott of Santa Barbara, switched from a traditional agent to Home Bay and sold his $20M+ home in 45 days and ultimately saved $649,000 in fees. On average, homes listed with Home Bay sold 23 days faster and for $13,771 more than the industry average this past season.
"Our model puts consumers first. It gives them a superior experience and significant cost savings, which is long overdue," said Ken Potashner, Chairman and CEO of Home Bay. "Given the success we've had, we're eager to bring this value to consumers in Georgia."