SIMI VALLEY, Calif., Jan. 21, 2020 (GLOBE NEWSWIRE) -- Homepie, Inc®, a provider of do-it-yourself tools for homebuyers and sellers who wish to transact without a real estate broker, today announced the opening of their offices serving southern California.
Over the past 30 years, the internet has shifted the way consumers buy and sell items directly from each other. During this time, consumers have become more comfortable with peer-to-peer transactions of increasing size and value. A trend surfaced recently toward discount or limited service in housing; Homepie reinforces that trend further by offering homebuyers and sellers all of the tools required to complete a property transaction without a real estate professional.
“Having been in the mortgage industry for many years, I have processed transactions for myself, family, and clients without a Realtor®,” says Founder and CEO, Brad Rice. This experience inspired Rice to develop the Homepie marketplace where anyone can sign up to list or sell a home on their own and pay no commission.
According to the real estate data provider CoreLogic, the price of housing in the Los Angeles six-county region is around $535,000. A typical real estate broker will charge a commission to the seller for 5%-6% of the sale price and the commission, half of which goes to the buyer’s agent. “On the low end of the spectrum, Californians are paying tens of thousands of dollars to get help,” continues Rice, “so we built software that allows the buyer and seller to perform the transaction at no charge for folks that don’t need expert advice.”
“Proptech companies have been focused on the digital transaction management for over a decade, building tools for real estate agents and brokers,” says Jay Bettinger of Bettinger Law, a business attorney for 20 years, including four years of in-house experience in the internet technology industry. “Depending on the type of transaction, it is a step by step process that centers around two things: contract management and coordination (with lenders, inspectors, appraisers, escrow, insurance, and title). Homepie has built a remarkable solution that allows consumers to transact without using an agent or broker, eliminating that expense completely.” Homepie receives advertising and fee revenue from lenders, inspectors, appraisers, escrow, insurance, and title, but users of the Homepie platform are not obligated to use their partners.
Homepie currently has 12 employees and 8 outside developers working for the company in Simi Valley and the surrounding area. They expect to hire 35 employees in 2020 as the company grows demand for the service. “Our focus will be on support services and bringing our technology development in house,” says Rice.
Homepie is the place where savvy consumers go for commission-free help to buy or sell homes. Today, nearly 1 in 10 home sales already close directly between buyer and seller without a real estate agent. Now, with Homepie’s central online marketplace and a simple step-by-step process, anyone can do the same with confidence. Homepie has all the tools to list, market, search, view, offer, negotiate, and auto-generate a purchase agreement that is digitally signed. Best of all, it’s 100% free to consumers, as the recommended service providers (escrow, insurance, title, etc.) cover the costs. Homepie takes the worry and guesswork out of home buying and selling. Learn how at homepie.com.
Sean Crosier 805-507-2238
Photos accompanying this announcement are available at