By Steve Lane
Three years ago, Tushar and I founded Flyhomes with a goal to transform the home buying process. As classmates, we got real estate licenses and convinced a couple of our good friends/classmates to help us get started. When I look back, now at the beginning of 2019, it’s clear—the innovations our team is executing on today are way more awesome than what I even imagined was possible when we began this journey.
2018 In Numbers
– Grew 2.5x in annual revenue compared to 2017
– Scaled from 25 full-time employees to over 100 full-time teammates
– Leveled the playing field for home buyers by democratizing cash offers
– Raised $17M in venture capital financing from Andreessen Horowitz and closed on credit facilities that allow us to scale our cash offers program
And while these numbers are great, they don’t even begin to paint the full picture of what the team was able to accomplish this year for our customers.
Transition From Real Estate Brokerage To Real Estate Company
I’m proud to share that I personally reached agreement to purchase my first home in Seattle to kick off 2019!
At this time last year, if I would have bought a house using Flyhomes, the company would have delivered a great real estate agent experience through the traditional process. I’d have worked with specialists, and it would have been great—but truthfully, we were really just a great real estate brokerage team. Today, we’re so much more!
Flyhomes Experience Today: I booked a tour online with just two hours’ notice (I needed to see the property before the Sugar Bowl started…Hook Em’!), toured the property, made a cash offer, and won! The whole process took less than two days. I was able to make this offer without any additional risk because 1) Flyhomes Crew sent an in-house inspector on behalf of the company (Flyhomes is buying the home with its cash) and 2) Flyhomes Mortgage was able to fully underwrite me and my wife in less than 24 hours.
Because of our cash offer, we were able to convince the builder to sell the new-construction property to us for more than $25K less than the sticker price. And, within days I was able to lock a loan through Flyhomes Mortgage and get a quote from Flyhomes Crew on adding an extra bathroom to the property before I move in.
This is the most real (and personal) evidence of what our team was able to accomplish in 2018 for our clients. They transformed our company from being a great real estate brokerage into an integrated real estate company!
In 2018, we got labeled as an alternative finance company by industry experts. Our cash offer product is so strong that experts believe it defines who we are as a company. The truth is, we hadn’t even thought of that idea until the end of January in 2018. As I look forward to 2019, what gets me most excited is that we’ve got a group of incredibly talented individuals passionately and tirelessly pursuing the ideas that will shape how homes are bought and sold. I can’t wait to find out what we think of by this time next year.
Here’s to new ideas on how to improve the home buying and selling experience … and to my new home!