SAN DIEGO, July 10, 2018 /PRNewswire/ -- Home Bay, a technology-driven real estate company, announced today that it has been selected as a winner of the 2018 Red Herring Top 100 North America award, which recognizes the continent's most exciting and innovative private technology companies.
"We are honored that Red Herring has recognized Home Bay for driving advancements in real estate technology, achieving another important milestone as we continue to automate more and more of the home transaction process," said Ken Potashner, Chairman and CEO of Home Bay.
Companies were judged by industry experts, insiders and journalists on a variety of criteria including financial performance, innovation, business strategy and market penetration. Winners come from industries that range from clean tech and security to software and cloud computing, and many more.
Red Herring's editors have been evaluating the world's startups and tech companies for over two decades. Brands such as Google, Skype, Spotify, Twitter and YouTube are all Red Herring alumni.
"2018's crop of Top 100 winners has been among our most intriguing yet," said Red Herring chairman Alex Vieux. "What has excited me most is to see so many people forging niches in high-tech and cutting edge sectors. Home Bay is achieving great initial success and is well positioned to disrupt the real estate industry."
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. 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 operates in California, Colorado, Arizona, Texas, Illinois, Georgia, Virginia, and Florida. It 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.