Better Expands Real Estate Services in Alabama and Michigan, Continuing Nationwide Implementation of its End-to-End Digital Home Ownership Platform

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NEW YORK–() –Better, one of the fastest growing digital home ownership companies in the United States, today announced the expansion of its real estate division. Best Property (BRE) to Alabama and Michigan. The expansion makes Better Real Estate’s in-house brokerage services available to home buyers and sellers in 26 markets in 16 states with plans to expand to 20 states by the end of 2021.

Unlike traditional brokers, BRE licensed agents get paid and incentivize clients to satisfy clients, rather than just closing transactions in pursuit of quick commissions. When people buy and sell a home, they can pay for the help of real estate brokers, the buyer’s and seller’s agent commissions usually range from 5% to 6% of the sale price of the home. BRE allows clients to save traditional agency fees1, which is ~ 21 798 US dollars at the current median the price of the existing house is $ 363,300.

Americans spent an estimated $ 86 billion in real estate commissions last year. according to Real Trends.

The company offers clients saving equivalent to 1%2 purchase price, along with a white glove approach, helping their clients buy their dream home. Refunds are paid by Better Real Estate (BRE) within 30 days of closing, giving customers peace of mind.

Uniquely, Better simplifies the home transaction process by also offering mortgage and insurance services to its clients through Better Mortgage, Better Cover and Better Settlement Services. BRE customers who prefer to use Best mortgage, a subsidiary of the internal broker, will receive additional USD 2,000 discount on loans.

“Eliminating friction and costs for consumers is a critical component for our clients in a complex, emotional and costly transaction, arguably the largest financial transaction most of us will make in our lives,” said Vishal Garg, CEO and founder of Better. “Our goal is to democratize the American dream of home ownership by making it faster, easier and cheaper for everyone, as the status quo is outdated and in dire need of replacement. This is what we hope to achieve by continuing our presence in the United States. ”

In addition to cost savings, Better’s technology platform enables innovative offerings that contribute to faster and more efficient property closings:

  • Non-commissioned officers: Agents hired by Better Real Estate are paid to ensure they are motivated to meet their clients’ buying and selling needs and goals, not chasing their new leader.
  • Best Closure Guarantee: ensures that Better Mortgage customers close on time. If there are delays in their loan or problems on the Better Mortgage side that prevent you from closing it on time, Better Mortgage will repay these clients $ 2,000 in credit.
  • Fast pre-approval and closure: Customers who use Better Mortgage can get pre-approved in as little as three minutes and close ten days faster than the industry average, all without commissions or fees.
  • Better Score Guarantee: warrants that Better Mortgage customers’ mortgages are funded on an initial basis, including a down payment, annual interest rate and monthly payment, regardless of the final assessed value. Better Appraisal Guarantee increases the chances of an offer being accepted by over 50%.3, creating a more successful and hassle-free transaction for all parties.

Over the past year, the number of BRE clients has doubled: more than $ 8 billion in real estate transactions have been made through an internal brokerage and partner network.

“Our rapid growth trajectory at BRE right now is proof that consumers are desperately looking for the best way to buy and sell their homes,” said Christian Wallace, head of real estate services at Better. “In today’s competitive housing market, every dollar saved counts, and we are proud to offer our commission-free model to Alabama and Michigan residents in our quest to make home ownership easier, faster, and cheaper for all Americans.”

Alabama and Michigan are ranked 15th and 16th in the nationwide BRE expansion and close on the heels of huge growth for Better. The impact of the pandemic has spurred demand for Better’s digital solution, with over $ 24.2 billion in funding and a 490% year-on-year increase since 2019.4

Better Real Estate (BRE) is expanding its staff and looking for agents in both Alabama and Michigan and throughout the country. This year alone, Better Real Estate has hired 250 agents and plans to hire 500 hired real estate agents in 25 states by November.

As hired agents, Better Real Estate agents start with an unrivaled base salary coupled with customer service-related incentives totaling over $ 120,000, double that. average agent salary USD 60,000. To find out more about career opportunities, look here

To find out more about Better services, go to better.com

About the best

Better, founded in 2016, is a digital-focused housing company with services that include mortgages, real estate, property rights and homeowner insurance. Since its founding in 2016-2020, Better has funded $ 30.9 billion in home loans and provided over $ 7 billion in cumulative coverage through Better Cover and Better Settlement Services. Since its inception, Better has raised over $ 400 million in equity capital. The company was ranked 15th on the CNBC Disruptor 50 2020 list and also entered the Forbes FinTech 50 for 2020. For more information, subscribe to @betterdotcom.

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1
Availability varies by state

2Offer is available in all states except Alabama, Alaska, Iowa, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Oregon and Tennessee.

3 *Results based on a survey of 104 real estate agents in competitive markets. More than ~ 60% of those surveyed answered that abandoning the unforeseen circumstances of the assessment can increase the likelihood of accepting a competitive proposal by 50% or more. Results may vary and are not intended to represent or warrant that anyone will achieve the same or similar results.

4Press release: Digital Home Ownership Platform Expands Title Product Capabilities in Virginia by Leveraging Nationwide Implementation of One-Click Payment for Real Estate Transactions

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