Real estate broker USRealty.com has secured an undisclosed amount of funding.The backer was Third Prime Capital.
New York, NY – October 20, 2016 – USRealty.com, an innovative online real estate company, announced today the closing of a round of financing with New York-based venture firm Third Prime Capital, which focuses on early stage companies. Proceeds from the round will support the company’s continued development of its real estate listing technology, sales and marketing efforts, and partnerships with institutional owners of residential properties.
“The rapid growth of our business has created a need to scale our customer offerings,” said Colby Sambrotto, President and CEO of USRealty.com. “This funding will allow us to develop the services and products we need to meet the growing demands of our expanding customer base, while maintaining excellent customer services and support.”
USRealty.com, which is revolutionizing the home selling process by offering free access to the Multiple Listing Service (MLS), sold nearly $1 billion worth of homes in 2015. The company will refine and expand its service offerings to ensure that it remains the most effective and affordable way to sell homes. In addition, the company will continue to develop relationships and services with institutional property owners.
“We believe that a growing number of homeowners want to reduce their transaction costs via an a la carte approach to listing their homes for sale, provided that time to close and likelihood of a successful sale are not negatively impacted. With its extensive MLS access and seamless online listing process, USRealty.com is providing home sellers that option,” said Keith Hamlin, a Managing Partner at Third Prime Capital.
With its unique hybrid model, USRealty.com is re-defining the home-selling process by giving consumers the opportunity to save up to 60% on commissions, retaining equity in their homes and putting money back in their pockets. For more information, visit https://usrealty.com/.
About Third Prime Capital
Third Prime Capital is an early-stage venture capital firm based in New York that invests in companies building scalable platforms with a competitive advantage. The firm’s current fund invests across sectors opportunistically and Third Prime’s partners actively work with management teams to accelerate growth.
Launched in 2014, USRealty.com has opened new paths for real estate owners to sell homes more cost-effectively and efficiently. With real estate brokerage licenses in 33 states covering 80% of home sellers across the country, USRealty.com’s national online tools enable homeowners, portfolio managers and institutional investors a simple, streamlined method to list properties and choose the commissions they pay to buyers’ agents. USRealty.com’s President and CEO Colby Sambrotto co-founded ForSaleByOwner.com in 1998, helping to create the category of online, do-it-yourself selling for homeowners.