SAN FRANCISCO, Aug. 24, 2021 /PRNewswire-PRWeb/ -- HomeLight, the real estate technology platform that empowers top real estate agents to deliver better outcomes to homebuyers and sellers during every step of the real estate journey, announced today the expansion of its flagship financial offerings, HomeLight Trade-In™ and HomeLight Cash Offer™, to top real estate agents, homebuyers, and sellers across Colorado.
HomeLight Cash Offer enables homebuyers to make all-cash offers even if they need a mortgage. HomeLight Trade-In enables buyers to unlock liquidity from their current home to buy their new home. Both products give homebuyers and sellers the ability to make contingency-free offers — a boon for those looking to compete in today's particularly competitive markets now that mortgage rates have hit a new 6-month low — while accelerating commission for top agents and helping them deliver an exceptional experience to their clients.
Based on transactions closed since December 2019:
- HomeLight Trade-In homes have sold for 5% above market valuation, closed 5x faster, and helped clients save 3.5% on the purchase price of their new home, compared to the traditional method of listing on the market.
- Offers powered by HomeLight Cash Offer have saved home buyers up to 4.4% compared to offers with a loan.
"I believe HomeLight Trade-In and Cash Offer are two of the biggest real estate game changers transforming the way people buy and sell homes in my nearly 20 years of selling homes throughout Colorado," said Jason Daniels, a top real estate agent in Colorado Springs. "Thanks to Cash Offer and Trade-In, my clients have saved hundreds of thousands of dollars and beat out dozens of offers. Based on the time and money I've seen these products save for my clients, I believe HomeLight Trade-In and Cash Offer are paving the way for a new and streamlined transaction process."
Fueled by a recent $100 million credit facility from Credit Suisse, one of the world's leading financial service providers, HomeLight has expanded HomeLight Trade-In and Cash Offer in new markets and plans to continue expansion across the country. The products are currently available in California, Texas, and now Colorado, with new markets planned to open in the coming months.
"We're deeply committed to providing the best agents with the most innovative solutions to compete and win in today's competitive market," said Drew Uher, Founder and CEO of HomeLight. "Cash Offer and Trade-In are the hottest products in real estate. With our expansion into Colorado, thousands of top agents can now enable their clients to have a buying or selling experience that is simple, certain, and satisfying."
HomeLight Cash Offer gives top agents and their clients the ability to make an all-cash offer on their next home, even if they need a mortgage. HomeLight Home Loans verifies the client's income and assets to determine purchasing power, and once the client and their agent find a home, HomeLight makes an all-cash offer on the client's behalf and holds the home until the client secures financing. As soon as the client's loan closes, HomeLight sells the home to the client at the purchase price, plus a small program fee.
HomeLight Trade-In solves another important issue that agents and would-be sellers face: the ability to buy before they sell, while still capturing the full market value of their home. HomeLight purchases the individual's home once they've found a new home to purchase — typically for 90% of the home's expected value — which frees up their equity to close on their new home. HomeLight then lists and sells the home on the market with the agent. If the home sells for more than HomeLight's purchase price, the company pays the client the difference, less a small program fee.
Agents interested in working with HomeLight to bring HomeLight Trade-In and HomeLight Cash Offer to their clients should visit: homelight.com/trade-in and homelight.com/cash-offer
About HomeLight
HomeLight is building the future of real estate — today. Our vision is a world where every real estate transaction is simple, certain, and satisfying for all.
The best real estate agents rely on HomeLight's platform to deliver better outcomes to homebuyers and sellers during every step of the real estate journey, whether that's enabling an all-cash offer, unlocking liquidity of their existing home to buy a new one, or creating certainty through a modern closing process. Each year, HomeLight facilitates billions of dollars of residential real estate business on its platform for thousands of agents.
Founded in 2012, HomeLight is a privately held company with offices in Scottsdale, San Francisco, New York, and Seattle, with backing from prominent investors including Zeev Ventures, Menlo Ventures, Group 11, Crosslink Capital, Bullpen Capital, Montage Ventures, Citi Ventures, Google Ventures, and others.
For additional information and images: homelight.com/press
Contact:
Annie Dreshfield
Director of Strategic Communications, HomeLight
[email protected]
Media Contact
Annie Dreshfield, HomeLight, 847-287-4615, [email protected]
SOURCE HomeLight
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