BOULDER, Colo. — July 12, 2022 – RealEstateRama – There are two enormous obstacles in today’s real estate market: competing against all-cash buyers and the certainty of having a home to move into before you sell. Technology is helping buyers and sellers tackle these obstacles by enabling everyday home buyers to make all-cash offers and allowing sellers to buy their next home before selling their current one.
At the forefront of this movement is UpEquity. A tech-enabled lender, UpEquity is revamping the mortgage process by removing barriers for both buyers and sellers.
The Austin-based lender is announcing a new collaboration with zavvie, the nation’s first real estate brokerage marketplace connecting broker-agents to buyers and sellers. This partnership will expand UpEquity’s solutions to real estate brokerages with thousands of agents nationwide.
Posting a growth rate of over 500% last year, UpEquity is available in 15 states — Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, New Jersey, Oregon, Pennsylvania, South Carolina, Tennessee and Texas — with plans to add eight more by the end of 2022.
By becoming part of zavvie’s real estate brokerage marketplace, UpEquity significantly expands its ability to partner with top brokerages throughout the U.S. that use zavvie’s modern marketplace.
“Most people are stuck buying and selling a home the old-fashioned way, and UpEquity gives buyers and sellers the options they need to make their moves,” said Tim Herman, CEO and co-founder of UpEquity.
“Cash buyers are four times more likely to win a deal versus buyers with financing. And homeowners are much more likely to sell when they are certain they have a place to move into.,” he added.
Herman explains that UpEquity “democratizes homeownership” by leveraging technology to create a modern real estate experience with less stress and more certainty.
“Selling or buying a home doesn’t have to be slow, complicated and uncertain,” he noted.
UpEquity provides zero-cost cash offers for well-qualified buyers, boosting purchasing power even for first-time homebuyers. Moreover, sellers can make a cash offer on their new home, then sell their old one.
UpEquity, which also provides permanent financing, uses automated underwriting, powered by a proprietary blend of computer vision and algorithms that ensure low mortgage rates and fast closing — currently averaging 18 days.
“UpEquity is at the forefront of lending innovation,” said Lane Hornung, zavvie co-founder and CEO. “While disrupting the traditional mortgage process, they continue expanding partnerships with brokerages and real estate agents. UpEquity knows this is the best strategy to accelerating its continued success.”
UpEquity is a tech-enabled mortgage platform disrupting the U.S. mortgage lending marketplace by providing cash offers for everyone. Founded in 2019 by Tim Herman and Louis Wilson while attending Harvard Business School, UpEquity was created out of a passion to solve the broken home buying process. UpEquity empowers customers to close offers fast by leveraging its proprietary combination of free cash offers, automated underwriting and low mortgage rates. Even first-time homebuyers receive access to the best houses on the market, in turn democratizing the American Dream. Headquartered in Austin with locations around the country, learn more at upequity.com.
zavvie is a software technology company that provides real estate brokerages with a marketplace for buying and selling solutions via their own white-labeled platform that keeps agents at the center of the transaction. Over 65,000 real estate agents in 47 states leverage zavvie’s software technology to serve their clients better. Discover more at zavvie.com.
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Kevin Hawkins | zavvie
Bryan Sullivan | UpEquity
Brand Experience Manager