Home Bay’s Real Estate Platform Drives Rapid Growth

SAN DIEGO, February 6, 2018

Home Bay, a technology-driven real estate company, has experienced significant growth of 309% in the past year. Home Bay attributes much of this year-over-year growth to industry openness to buying and selling homes without commissions.

Prior to Home Bay, consumers were subject to paying standardized sales commissions to real estate agents. Home Bay has disrupted this model by charging a low rate of $2,000 to $3,500, in lieu of the 3% commission charged by traditional agents.

“In a recent survey we conducted, home owners indicated that while most of them liked the real estate agents they’ve used, many consumers question the validity and value of the sales commission their agents charged,” said Ken Potashner, Chairman and CEO of Home Bay. “Sixty percent of home sellers said they would use a smarter, easier way to buy and sell homes.”

Along with a team of top licensed real estate agents, Home Bay’s technology platform produces precise local market intelligence and expedites each transaction, ultimately saving consumers time and money. Buyers who use Home Bay receive half of the buyer-agent-commission upon purchasing a home.

“Our technology caters to consumers by delivering a better way to buy and sell,” said Potashner. “This past season, homes listed with Home Bay sold 23 days faster than those listed with traditional real estate agents, saving home buyers and sellers each an average of $16,000. With over half a billion dollars in transactions to date, Home Bay is appealing to more and more savvy consumers.”

Last month, Carl Westcott of Santa Barbara switched from a traditional agent to Home Bay and sold his $20 million home in 45 days, ultimately saving $649,000 in fees. “Our model puts consumers—not sales commissions—first,” said Potashner. “It gives consumers a fair deal, transparency, expert-agent support, a superior customer experience, and significant cost savings.”

About Home Bay

Home Bay Technologies Inc., a San Diego based company, provides consumers a smarter way to buy and sell homes with data-driven intelligence, complete transparency and an on-demand customer experience. Home Bay’s sophisticated platform expedites the transaction with efficient, seamless systems that save consumers and real estate agents time and money.

Discover more on this website

Aon to acquire real estate investment advisor Town... Aon, the leading global professional services firm providing a broad range of risk, retirement and health solutions, today announced it has entered into a definitive agreement to acquire The Townsend Group, majority owned by Colony NorthStar, Inc., a leading global real estate an...
Home Bay Acquires 50% Interest in OTC National L.L... SAN DIEGO, May 29, 2018 Home Bay, a technology-driven real estate company, announced today that it has purchased a 50 percent interest in OTC National, LLC, a national settlement services company with escrow and title insurance licenses in 31 states. Home Bay's investment i...
Positive Outlook for German Real Estate Markets in... Rising rents, falling vacancy rates, residential climbing to third-strongest asset class, retail under pressure. The latest overview of the 2018 German rental and investment markets from Catella Research shows that the economic situation is supporting the positive trend. ...
Champion Completes $33.6M Deal For Two Value-Add A... LOS ANGELES, January 31, 2018 Champion Real Estate Company recently completed the acquisition of two multifamily buildings for $33.6 million in the city of Glendale, California, which buildings are owned by a subsidiary of Champion, Champion Glendale Property, LLC. This purcha...
Share This Post On

Pin It on Pinterest

Share This