The Real Estate Industry Insurgency
[This post is brought to you by military veteran Tommy Sowers, founder of SoloPro. If you’re interested in contributing at The-Military-Guide.com, please see our posting guidelines.]
Most great businesses solve a big problem. SoloPro began the day I decided to break into my own house. Well, it technically wasn’t my house (yet) and the vacant house’s back door was easily opened (it is now much more secured). But as an experienced home buyer I knew that using a buyer’s agent was expensive, tacking on 3% of the home’s price, a fee bigger than I paid anyone. So, I got a little creative and “gained access”, a term I used in group.
Millions of homebuyers are frustrated by the inefficiencies and cost of their most expensive purchase. After all, many of them, like me, find their house on their own, with no help from an agent. Why was I still paying an agent the same price as a buyer who did none of that work? I didn’t need all-you-can eat, but I just wanted to pay for the services I used. What a revolutionary concept.
It turns out millions of real estate agents don’t love the process as well. Sure, a few do fabulously well in the 3% model, the vast majority don’t. Being a full-service, all-you-can-eat agent means being on call 24/7 and knowing how to find buyers, run a business, advertise and close. Spouse got PCS’d? Good luck establishing in a new market. Have a kid or two? Say goodbye to nights and weekends needed to succeed as a full-service realtor. What if agents could unbundle what they do and just do the parts of being an agent they love, and get paid for those tasks? What a revolutionary concept.
The insurgency of SoloPro was born.
As a veteran of the Green Berets I know, if you want to start an insurgency, you’ll need an A-Team. I partnered with my cousin Shayne, who, having sold over $200 million+ of real estate as an agent, understands the ins-and-outs of the industry. Our third cofounder, Narayan, knows how to build technology that users love. We are passionate about giving consumers choice and cash back in their pocket–our first customer got a check of $24,000 when she closed. For those who move frequently (such as military service members), we’re anticipating that this will save them tens of thousands over the years. That’s a lot of money that you could be setting aside to max your TSP or to fund your child’s education.
Or, you could go on that vacation you’ve always wanted. Buy that car. Put it away.
Big problems require big win-win solutions. We are the only company that empowers the homebuyer to earn the full 3% agent’s fee back, but does so in a way that agent’s love. SoloPro hits the hearts, minds and pocketbooks of both homebuyers and agents.
Tommy Sowers is the Founder and CEO of SoloPro.com. Before leading at the highest levels of government (Assistant Secretary at the VA), business (McKinsey) and politics (congressional candidate), Tommy’s 11 year military career included two deployments to Iraq as a Green Beret.