As real estate professionals, it’s important to stay informed when it comes to industry news. The landscape is constantly changing especially with the advent of new technology in the digital arena. This is changing the way we sell, market and purchase real estate.
It’s been reported that a new start up called Bungalo has launched a solely digital platform where buyers can search, finance and purchase newly renovated homes. Bungalo joins a growing group of iBuying platforms that includes Opendoor, Zillow and Redfin. All of these online platforms purchase and sell homes directly to clients after renovating the houses.
According to the Company’s CEO, Greg Stuart, Bungalo will start by selling 25 homes in Dallas-Forth Worth and 10 in Tampa, Florida, before expanding to new markets later in the year. The start up will offer “no-haggle” pricing, which means it will set the price and accept the first offer it receives. The homes will be priced around $250,000 to $550,000 after a full renovation.
What are your thoughts on buying a house entirely online? The reality is that digital has created an entirely new experience for consumers and will forever change the way we shop, socialize, date, conduct business – and now even buy homes. Don’t worry if you prefer to work with a licensed agent when purchasing your home, you can still hire Casandra Properties, Inc. to help with the online transaction.
For more information on this piece of industry news click here.