Realize Home
making homebuying happy again
Introduction
Buying a home is a nightmare and with volatile interest rates and slowing market conditions, more homebuyers than ever before fail to complete their purchase transaction. Realize is the only buyer-facing solution designed to ensure homebuyers successfully complete every milestone on time.
Problem
72% of homebuyers are frustrated with their home purchase experience - feeling overwhelmed, furstrated with the lack of transparency, and unsure of what they need to do at any given point - often resulting in missed deadlines and closing date delays. With increasing volatility in interest rates and the overall market slowdown, the repercusions of missed deadlines have never been higher. If a buyer's close date is delayed due to a missed milestone, their interest rate is reset - and if subjected to a recent rate hike, they may lose their ability to afford the home and be forced to drop out of the transaction. This volatility has dramtically impacted the market - over the past two months, the number of buyers who fall out of their transaction has increased by 33%. As of February 2023, 14% of all homes under contract end up pulling out of the purchase. Over the next year, this 14% fall through rate will cause buyer's agents to miss out on more than $1.5B in missed commissions.
Opportunity
In the past, the overwhelming levels of homebuyer dissatisfaction felt irrelevant to real estate agents due to the intensity of the homebuying market - there was always another buyer if a transaction fell through. As the market has cooled and mortgage rate volatility is at an all time high, buyers agents are now forced to reconcile the buying satisfaction assymerttry and need to ensure buyers stay on track with milestones more than ever. Our first core product will provide a home buyer facing digital experience that provides the buyer education necessary to ensure that home buyers have the confidence to know what they need to do, when they need to do it, and any nuanced considerations they need to make. Further, it provides task management tracking to help buyers stay informed and organized - ensuring no milestones are missed. In the future, we will provide a completely integrated, holistic solution that serves both agents and buyers - providing an end to end solution that meets all of a buyers basic needs.