Few industries have been affected by both the COVID-19 pandemic and recessionary environment as much as residential real estate. In a time of changing interest rates and moves by remote workers from urban to rural back to urban areas, the one constant is innovation in how consumers are buying and selling their homes.
In 2020 alone, nearly two-thirds of homes purchased were made by buyers who put in an offer after only seeing the property virtually. Even so, a web of in-person intermediaries and middlemen still manages most of the construction, property management, home buying/selling, and real estate investment process in the $36 trillion U.S. residential real estate market.
Here at M13, we believe that technology platforms like HomeLister will transform the way that buyers and sellers execute real estate transactions. As we look to invest in more proptech innovators, we’re proud to lead HomeLister’s $10 million Series A alongside Homebrew.
Automating the process of listing and selling your home
More than 6.5 million houses are bought and sold annually in the U.S. Traditionally, selling your home relies on finding a realtor to list, show, and sell your home—and the typical 6% realtor commissions chip away at earnings for the seller.
While buyers have embraced online platforms like Zillow, Redfin, and Compass, homeowners are seeking options to keep equity and take control by listing and selling their homes online. Founded in 2015 by Lindsay McLean, HomeLister automates the process of listing and selling your home, eliminating the need to hire an expensive traditional listing agent.
A software engineer and real estate developer by training, Lindsay understands the nuances of the consumer housing market and created a way to modernize the administrative-heavy home listing process.
In fact, HomeLister was founded when Lindsay sold her own home through the current outdated process. She said, “Most people only sell every few years so they just deal with the pain of the process, hate it, and get through it—all the while paying a significant amount of their equity to the agents (up to 30%!). We designed a system that allows you to take control of your home sale, get everything set up easily online, and keep your equity for yourself. The best part is it works.
How HomeLister works
By streamlining listing, showing, and selling your home, HomeLister can:
Save each homeowner an average of more than $21,000 in real estate agent commissions.
Sell faster and shorten the timeline of a sale from a current average of 35 days to 21 days.
Currently available in 18 states, HomeLister aims to expand into six others in 2022, including South Carolina, Illinois, and Michigan. The goal is to be in all 50 states.
In addition to geographic expansion, HomeLister plans to use its Series A funding to enhance current offerings and add on services like title services and automated transaction management. What excites us most about this business is its ability to create a new model for selling homes while providing consumers with a superior experience.
Congratulations to Lindsay and the HomeLister team. We’re thrilled to welcome you to the M13 family as you modernize the way that people list, show, and sell their homes.