In July, Home Bay, a San Diego-based startup that offers real estate services for a flat fee, announced that it raised $5 million to fund its expansion beyond California.
Since then, Home Bay has expanded to Florida, Illinois, and Georgia.
And now, Home Bay is available in Texas as well.
The company announced Thursday that it is expanding to Texas.
Home Bay offers a “team of top licensed real estate agents” along with a technology platform that “expedites each transaction” to borrowers, all for a flat fee of between $2,000 and $3,500.
And by paying its flat fee rather than the traditional 3% listing fee charged by real estate agents, Home Bay claims that it can save consumers an average of $16,000 per transaction.
Ken Potashner, Home Bay’s chairman and CEO, said the expansion into Texas was an easy decision, considering the state of the Texas housing market.
“It was an obvious decision for us to expand into Texas,” Potashner said. “The housing market there is exploding thanks to its low interest rates, rising income, and the Texas employment rate continuing to soar. There has been no better time than now to bring Home Bay to Texas consumers.”
Potashner added the company is “proud” to have a team in Texas.
Home Bay also said that it plans to expand to “several” other states in 2018.