SAN DIEGO, Feb. 22, 2018 /PRNewswire/ -- Home Bay, a technology-driven real estate company, has expanded to Texas, bringing its presence to five states, including California, Florida, Illinois, and Georgia. With Home Bay, Texas consumers can now buy and sell homes without paying commissions.
Along with a team of top licensed real estate agents, Home Bay's technology platform expedites each transaction, ultimately saving consumers an average of $16,000 per transaction. Prior to Home Bay, consumers were subject to paying standardized sales commissions to real estate agents. Home Bay charges a low rate of $2,000 to $3,500, in lieu of the 3% commission charged by traditional agents.
Houston and Dallas-Fort Worth, Texas's two largest metro areas, prove that the state's housing market is experiencing an evolution rather than a boom. Based on data from the Real Estate Center at Texas A&M's most recent Texas Housing Insight report, last year both cities issued more single-family housing permits than any other city in the country.
"It was an obvious decision for us to expand into Texas," said Ken Potashner, Chairman and CEO of Home Bay. "The housing market there is exploding thanks to its low interest rates, rising income, and the Texas employment rate continuing to soar. There has been no better time than now to bring Home Bay to Texas consumers."
In DFW, home sales and prices are growing five to six percent, making it one of the country's hottest home markets. Austin and San Antonio are also growing. Even Houston—with the hit Hurricane Harvey put on its housing stock—remains one of the healthiest housing markets in the U.S.
"Texas always seems to thrive," said Potashner. "We are proud to have added a Texas-based team to serve the state."
Home Bay will continue to expand into several other states throughout the coming year.
About Home Bay: Home Bay Technologies Inc. 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. For more information, visit HomeBay.com.
SOURCE Home Bay