Divvy Homes and zavvie enable real estate brokers and their agents to offer more accessible, affordable and innovative buy-to-let solutions
Adena Hefets is co-founder and CEO of Divvy Homes.
Lane Hornung is co-founder and CEO of zavvie.
BOULDER, Colo., Dec. 14 2021 (GLOBE NEWSWIRE) — Aspiring homebuyers have had to search for new solutions if they want to set foot in their own doorsteps throughout 2021. Cash-offer products, buy-before-deck solutions that you’re selling and other options have become increasingly popular as buyers seek to compete for a limited number of homes, helping them craft an offer that could win a bidding war.
Today, another buying solution powered by zavvie, the nation’s leading real estate brokerage marketplace that connects broker-agents with buyers and sellers, and Divvy Homes, a leading real estate technology startup valued at $2 billion, will provide a more accessible, affordable and innovative solution. buy-to-let solution for real estate brokers and their agents.
Divvy Homes uses technology and a human-centric approach to partner with consumers through every step of the home buying process, helping tenants become homeowners. Buying a home with Divvy starts with a five-minute online application that provides an approved home-buying budget and the ability to start shopping with a real estate agent.
The Divvy Homes rent-to-own program is currently available in 16 major US metropolitan areas, including Atlanta; Cincinnati; Cleveland; Dallas; Denver; Fort Lauderdale, Florida; Houston; Jacksonville; Memphis; Minneapolis; Miami; Orlando; Phoenix; San Antonio, TX; Saint Louis; and Tampa, Florida.
Now part of zavvie’s recently expanded brokerage marketing marketplace, Divvy Homes has the potential to reach tens of thousands of new realtors, turning more of today’s renters into tomorrow’s homeowners.
“Divvy Homes helps ensure that zavvie offers all options for home buyers and sellers of today and tomorrow – and that a trusted realtor remains at the center of every transaction,” said Lane. Hornung, co-founder and CEO of zavvie.
Over the next decade, industry analysts estimate Divvy Homes could help up to 100,000 families become homeowners. It allows tenants to work with a real estate agent and choose the home they want to rent-to-own. Then Divvy purchases the qualifying home and tenants move in with 1% to 2% of the value paid up front. Part of their rent is used to save for a down payment. In three years, these future owners may have accumulated up to 10% of their down payment, which allowed them to buy the house from Divvy.
“The road to homeownership is tougher than ever,” said Divvy Homes co-founder and CEO Adena Hefets. “Divvy is leveling the playing field by accelerating its ability to become an owner. We’re a new kind of real estate company that helps people build wealth while living in a home they’ll soon own.
The Divvy Homes application is online, free and will not affect credit scores. Once a client’s income and savings are verified, a Divvy Homes approved real estate budget is provided within two business days. Most Divvy Homes customers become mortgage eligible within three years. At any time, a Divvy Homes customer can either redeem the home with the money saved, or move out and take their savings with them.
“Housing affordability and accessibility provides exciting new opportunities for brokerages and their agents,” said Hornung, “Agents who embrace these new buying options can do well by doing good.”
zavvie is a broker-branded marketplace that connects broker-agents and their clients with new ways to buy and sell homes while keeping agents at the center of the transaction. More than 65,000 real estate agents in 47 states use zavvie’s platform to better serve their clients. zavvie gives modern brokers and agents everything they need to thrive in today’s ever-changing real estate landscape: easy-to-use tools, technology, training, marketing and strategy. Find out more at zavvie.com.
Kevin Hawkins | zavvie
206-866-1220 | [email protected]
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