SAN DIEGO, May 4, 2018 /PRNewswire/ -- Home Bay, a technology-driven real estate company, is expanding to Colorado, bringing its presence to six states, including California, Florida, Illinois, Georgia and Texas. With Home Bay, Colorado 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, ultimately saving consumers an average of $16,000. Before Home Bay came to market, consumers had no choice but to pay standardized sales commissions to real estate agents. 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. Amongst the largest 100 markets in the country, 36 are seeing homes sell at least a week faster than this time last year. Colorado Springs and Denver both rank amongst the 20 hottest markets in the country, according to a recent Realtor.com report.
Known for its breathtaking scenery, sunny days, and world-class skiing, Colorado continues to attract full time residents as well as vacation home buyers.
"With Colorado home values predicted to rise within the next year, Home Bay's presence in Colorado couldn't be timed better," said Ken Potashner, Chairman and CEO of Home Bay. "Colorado residents shouldn't be forced to pay large real estate commissions when homes fall so quickly into escrow. It's never been easier for Colorado residents to sell a home."
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.
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SOURCE Home Bay