SAN DIEGO, June 19, 2018 /PRNewswire/ -- Home Bay, a technology-driven real estate company, is expanding to Arizona and Virginia, bringing its presence to eight states, including California, Colorado, Texas, Illinois, Georgia, and Florida. With Home Bay, Arizona and Virginia consumers will be able to 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, saving consumers an average of $16,000. Prior to Home Bay, consumers were forced to pay real estate agents standardized sales commissions. In lieu of those 3% commissions, Home Bay charges a low rate of $2,000 to $3,500—a fraction of what traditional agents charge.
With inventory nationwide down 9% from a year ago, the housing market is booming. Never have there been so many buyers searching for so few homes than now. And with the current low-interest rates, it's a buyer's market as well.
Home to majestic destinations like the Grand Canyon, Sedona, and Lake Powell, Arizona continues to attract full time residents as well as vacation homebuyers. Virginia is also a popular state with its historic vineyards, battlefields, Blue Ridge Mountains, and beautiful beaches.
"With Arizona and Virginia home prices on the rise, now is the ideal time for Home Bay to have a presence in these two states," said Ken Potashner, Chairman and CEO of Home Bay. "Residents shouldn't be forced to pay large real estate commissions when homes move so quickly into escrow."
From within its platform, Home Bay can also integrate escrow services and issue title insurance policies. By keeping the real estate transaction process in-house, consumers save money and time.
Home Bay will continue to expand into several more 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.