SAN DIEGO, Nov. 7, 2018 /PRNewswire/ -- Greendoor, a proptech (property technology) startup, today announced the launch of its new buyer technology platform, which will bring technology and innovation to the real estate industry, a market that's been known to use paper-based, antiquated processes.
"The timing could not be more perfect for our launch. The market is becoming a buyer's market. However, from our research, we've found minimal proptech tools that serve the needs of today's buyer, especially the millennial demographic that is starting to drive much of the economy," said Bill Lyons, Greendoor's Co-Founder & Chairman.
According to the National Association of Realtors, consumers aged 36 and younger represent the biggest share of home buyers and made up 34% of all purchases last year. As this tech-savvy generation continues to buy homes, millennials will demand technology to support their house hunt and decision making, especially since 99% of millennials start their house hunt online.
Greendoor will offer these kinds of home buyers the ability to search for houses based on the monthly payment they can afford and the characteristics that are most relevant to them. To do this, Greendoor will assume a 5% down payment and use an estimated interest rate to calculate the home buyer's monthly payment including principal, interest, taxes, insurance, and HOA fees (if applicable). Users can also adjust these settings based on their own financing and for the amount they have been pre-approved.
"On top of all these proptech features, Greendoor will offer a rebate equal to the buyer's first month's mortgage payment when they get pre-approved by Greendoor's preferred lender and choose Greendoor to represent them in the transaction," said Lyons.
The company is available now to San Diego home buyers with expansion plans already in the works.
Greendoor's mission to serve its real estate buyer clients with honesty, integrity, and competence through its technology and five-star service. Its real estate agents take a customized approach to each client, striving to understand and meet individual needs and looking ahead to create long-term plans for the future. For more information on Greendoor, visit www.greendoor.io. State Licensing: CA DRE 01834007
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Front Lines Media