Last updated: February, 2019
HomeOpenly helps our users to make the opportunity of home-ownership transparent, affordable and an open experience.
HomeOpenly is an innovative and young Internet company that designs, builds and maintains a series of online home marketplace solutions with focus on real estate property search, automated valuation modeling (AVM), home buyer's and seller's representation services, mortgage, refinance, home insurance, renovation, design, staging, home inspections, home security, moving, home maintenance, title, escrow, cash offer stand-in programs, home warranty and other real estate verticals. HomeOpenly actively utilizes open systems design and privacy by design principles behind the unbiased information we provide and the value-added services we deliver. HomeOpenly is a 51% women-led, for-profit enterprise that advocates for 100% user experience with all our stakeholders.
Currently, our patent-pending platform actively seeks Seed and Series A proposals from Venture funds and Accredited Investors to further advance this idea across the Internet as a value-added alternative to numerous referral fee network models. Although financial and operating risks confronting early stage startups are significant, HomeOpenly is in a position to offer our investors an undiluted equity and an effective development team.
Open systems deliver the best experience by design, and with this principle, HomeOpenly appeals to US consumers to help manage $31 Trillion in real estate assets. We have no interest in capping our addressable market to $72 Billion spent on residential real estate commissions each year. This fact makes HomeOpenly an Internet company and we do not intend to become a real estate agent. HomeOpenly is not subject to RESPA regulations, instead, we are integrally bound by UX. In a Big Five technology ecosystem we want to see this company grow into Big Six as an open, privacy-driven, consumer-focused women-led enterprise.
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US housing market now reaches almost 6,000,000 properties sold each year.
This is about $1.4 Trillion per year in residential real estate sales, based on median price estimates.
Keep this number in mind, each year, $72 Billion is spent in closing commission fees based on "standard" real estate commission rates.
HomeOpenly actively develops a competitive platform in an effort to save US consumers anywhere from $10-$15 Billion in closing costs annually, once fully implemented.
Further, HomeOpenly is the first real estate platform to completely exclude unnecessary referral fees from the real estate search process. As an Internet company, our goal is to increase user experience in lieu of select broker promotions and to maintain a truly unbiased real estate tool for local real estate representation.
Bias - the tendency to have an opinion, or view, that is often without considering evidence, as a result of systematic error introduced by selecting or encouraging one outcome over others. HomeOpenly is the only real estate start-up on the market in 2019 designed to provide unbiased results for all our users. Any real estate platform that operates on referral fees, by default, runs a 100% certainty output with biased information.
The core principle of the Internet is its ability to provide the best information available, because it is relatively inexpensive to do so. The real estate market is one of the worst offenders of this basic rule due to its conservative tendencies. The Internet broker referral revenues encourage this market behavior and, inadvertently, Buyers and Sellers pay for it with a sizeable increase in closing costs. Referral fees are a major problem in real estate.
Since April 2017 HomeOpenly has been actively working to change the existing model into a working Internet platform designed from the ground up to operate under a 0% referral fee structure. The process isn't easy, but it is worth the effort, because this platform conforms to the idea of an open Internet as well as to the legal real estate principles across the United States. While our competition works to charge referral fees for leads, HomeOpenly continues its work on an independent OPEN marketplace for real estate representation search.
Our search results now include major metropolitan areas with tens of Millions of properties live for our users, all of which are designed to bring the best local real estate representation information to Buyers and Sellers and gives local real estate agents an opportunity to compete without referral fees or other mandated costs. Same exact agents that can advertise independently at HomeOpenly, must pay 30% referral fees to Redfin®, and similar rates to other middle-man brokers such as UpNest® and HomeLight®. On the other hand, HomeOpenly offsets full savings benefits toward real estate consumers and independent real estate agents.
Real estate market is as diverse as its participants. No agency is able to offer the same service and/or pricing "standard" as another; this is why HomeOpenly supports competitive agencies that want to work with their clients on better terms. Our users freely compare local results and decide on the agency that is best for them. The best consumer solution for the real estate agency search is the HomeOpenly OPEN real estate platform, available for the first time since April 2017.
Looking forward into the next three to five years, HomeOpenly has a solid Business Plan to continue development with a growth in its user base, agency database, search quality and coverage in rural areas. As we continue to grow our platform, HomeOpenly disrupts the referral fee model with superior service to agents and consumers shopping for representation online. As the service continues to generate direct leads for our opt-in agencies, our users benefit with lower costs of home-ownership and better real estate representation choices. At the same time our Internet traffic grows and, because real value is provided, our user base is organically sustainable over the long term.
We really appreciate your time, feedback and interest.
HomeOpenly, Inc. Co-founders
325 Sharon Park Dr. #416
Menlo Park, California 94025