As history unfolds in front of our eyes, and real estate transactions nationally come to a complete standstill, Zumbly, is working double time behind the scenes and plans on gaining market value as soon as the market kicks back into action.
Zumbly- the real estate technology company who’s algorithm and AI technology scores and picks the best, most financially sound properties for home buyers and real estate investors- believes the COVID-19 virus is an opportunity to turn a negative into a positive.
Every major real estate company in the US (and the world) is bracing for the unknown and calls out to the Government for assistance. Zumbly believes home buyers and real estate investors are going to return to buying cautiously and conducting more due diligence.
Joel Glenny, Co-Founder of Zumbly explains “We are all in this together, not only America, but the whole world. As much uncertainty and fear there is out there, we are trying to stay focused on the positive ways we can help Americans be more confident and empowered when they return to buying real estate. Every part of our technology has been built with our users best interests in mind, assuring our formulas and algorithms mitigate risk, protect the down side, and allow our users to transact on a property that will be the best deal and home for their needs.”
Whereas most real estate applications and portals are looking to their users to do the research and find the best properties, Zumbly does the work for them and will even select their home if they would like.
CEO and Founder Jeb Carty elaborates, “All other sites out there want users to have unlimited options and stay on the site looking at homes as long as possible. This is how they make money. For us, this is an opportunity. After all, 98% of the homes listed are irrelevant to the searcher. Why leave it to the searcher to do all the work? Why not build AI technology to do the work in finding them the properties that matter most? That’s our mission. Zumbly is more of a data-technology company than a real estate company. Yes, we show every property listed in the markets we’re in and users come to our application to look at homes. But it’s our technology behind the scenes with which we are building a company on.”
Along with building the tech, Zumbly is also preparing to introduce a lead program for real estate agents. Glenny explains – “We see an opportunity to add massive value on both sides of the transaction, not only with protecting buyers but also agents. The majority of lead programs currently in the market don’t protect the agents. Contracts, outrageous costs per lead, selling to more than one agent, and quality are just a few of the problems that need to be fixed. This is why Zillow is currently refunding half of this month’s fees to agents that are currently locked into a contract during the Coronavirus outbreak. Since we’re a young company and rolling out our first lead program, we can address these issues by offering a flat rate, no contract, and a more qualified pay-per-lead sold to only one agent. And that is just the starting point.”
With everything going on in our world currently, it’s nice to see entrepreneurs looking for solutions and ways to aid in a recovery even before life returns to normal.