Technology-driven real estate company Home Bay Technologies announced on Friday it is expanding to its sixth state: Colorado.

Back 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 growth beyond California. Since then, the company has also made its platform available in Florida, Illinois, Georgia, Texas, and now, Colorado.

With Home Bay’s platform, Colorado consumers will be able to buy and sell homes without paying commissions. By paying its flat fee, a rate of $2,000 to $3,500, 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 platform’s expansion to Colorado was well-timed, considering the rising home values predicted for the Colorado housing market.

"With Colorado home values predicted to rise within the next year, Home Bay's presence in Colorado couldn't be timed better," said Potashner. "Colorado residents shouldn't be forced to pay large real estate commissions when homes fall so quickly into escrow. It's never been easier for Colorado residents to sell a home."

Most Popular Articles

Former Fannie Mae employee gets 6 years in prison for making $1 million on shady foreclosure sales

A former Fannie Mae employee will spend more than the next six years in prison after being found guilty of accepting more than a million dollars in bribes and kickbacks in exchange for selling Fannie Mae-owned foreclosures for less than market value.

Jan 15, 2020 By

Latest Articles

Top originators share the key to retention at engage.talent summit

Don’t miss this opportunity to hear from the industry’s top originators on how to look beyond recruiting and win in the battle of retaining top talent.

Jan 17, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please