The traditional method for buying and selling real estate involves realtors, bankers, and appraisal experts, but rarely does it give those most connected to the process the ability to talk directly to each other. For many homebuyers, for example, the first time they ever meet a property's seller is at closing.
But now, the paradigm may shift, thanks to a new Minnesota startup,
BuyerCurious, that connects buyers and sellers and allows them to negotiate with one another.
Put out by
DealCurious, the service is in its very early stages, having launched only about a month ago. But already people are registering and there's tremendous potential, believes co-founder Jim Lesinski.
"We recognized that real estate is not progressing as fast in the e-commerce realm as other industries," he says. "There have been some strides by innovators like
Zillow, and some companies in the valuation process, but not much has been done with respect to actual negotiation and transactions. It felt like there was a real void."
BuyerCurious aims to fill that gap with a simple-to-use site that allows buyers to make offers on properties or to contact a seller. Once an offer is made, the prospective seller can respond, and BuyerCurious assists by setting up a "deal room" where they continue negotiations until a binding purchase agreement is signed.
Like any software development project, BuyerCurious has run into its share of challenges, particularly because the site needs to be in compliance with real estate laws, but Lesinski says it's built to go nationwide. "We have a very robust platform that will allow us to be compliant in every area of the country," he says.
The company is still small right now—Lesinski notes that they've just hired their fourth employee—but it relies on an extensive network of service providers. The team is excited about the chance to create an electronic marketplace for real estate.
Just think: if BuyerCurious catches on, your next home purchase could be only a few clicks away.
Source: Jim Lesinski, BuyerCurious
Writer: Elizabeth Millard