THESE AMERICAN REAL ESTATE STARTUPS ARE RIDING THE WAVE OF FINTECH

 THESE AMERICAN REAL ESTATE STARTUPS ARE RIDING THE WAVE OF FINTECH

After reading an article published in Forbes magazine, we felt it was important to share with you some information relating to current economic news, particularly in the field of real estate.

The phenomenon isn't new: real estate and technology have been flirting together for quite some time. While some sites, like Zillow, have taken advantage of technological developments to improve their user experience, others have embraced digital as a weapon of war. Here's a look at some American real estate startups that are capitalizing on fintech to stand out from the crowd.

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Better.com

This company is one of the rising American real estate startups. Based in New York, Better.com is a lending institution that invites buyers to get pre-approved in just 3 minutes. Focusing on competitiveness, the founder came up with the idea of creating Better.com after a real estate disappointment, when he couldn't compete with a buyer who could pay cash for his apartment. Behind Better.com is powerful comparison software and, above all, the promise of making the borrowing process as seamless as possible.

Frame

Also based in New York, Cadre has successfully raised funds online and uses advanced data analytics to source deals. This ultimately reduces fees, as do the complications institutional and high-net-worth investors face when entering into commercial real estate partnerships. With the launch of a secondary market in 2018, the company is also attempting to simplify the resale of real estate interests.

Divvy Homes

Among the American real estate startups based in San Francisco is Divvy Homes, a more modern digital version of the traditional rent-to-own model. The company buys homes and becomes the owner of its clients' properties. Clients pay an initial 2% entry fee. In addition, a portion of the monthly rent can be converted into a down payment if the tenant wishes to purchase the home later. This service is currently only available in select US cities.

Opendoor

Also based in San Francisco, Opendoor operates in about 20 cities. It offers real estate sellers the opportunity to list their property for cash payment. Offers are received within 24 hours, and the sale closes in as little as two weeks. Buyers can schedule showings and make offers on any home for sale in the cities where the service is available.

Roofstock

Based in Oakland, California, Rooftsock bills itself as a digital marketplace that offers investors the opportunity to purchase rental properties across 25 U.S. states. Most of the properties already have tenants.

States Title

At 38, Max Simkoff, co-founder and CEO of States Title, leverages online data and predictive analytics to insure 8 out of 10 homes in less than a minute. The benefit: faster real estate transaction completion and significant savings.

Unison

On the Unison online platform, home buyers and owners in some 30 US states can sell a portion of their home's future capital gain. The consideration is 10% of the home's purchase price, a sum that is used as a down payment. When the home is sold, Unison and its institutional investors receive 33% of the property's capital gain.