GoldenKey, the disruptive digital real estate platform that offers customized commission-free agent assistance at a fair price, has secured $1.75M from a group of investors, including Lowe’s Ventures and NFX Guild, bringing its total funding to more than $3.4M.
The on-demand agent digital marketplace, which enables buyers and sellers to generate more personal wealth through their real estate transactions, today announced that the investment will be used to complete its ambitious expansion of the brand, increasing its user base across the U.S.
Chris Langford, director of Lowe’s Ventures, said: “Our investment in GoldenKey will help expand their ability to serve both movers and real estate agents, by providing home buyers with the first custom solution for purchasing their next home and allowing real estate agents to get paid immediately and directly for the services they provide. We see this as a win-win and a shining example of how technology can create efficiency in the real estate market.”
When using GoldenKey’s site or mobile app, buyers and sellers can simply choose from a selection of customized packaged agent services or a one-off service – paying only for the agent assistance they need. Once users have chosen what they require, GoldenKey’s technology broadcasts the request across its digital marketplace to find a match with a supportive agent that acts as their main contact throughout the entire process.
Historically, consumers have had minimal choice when it comes to buying or selling a home; they can either pay to work with commissioned real estate agents and lose home equity in the process or they can go it alone with a ‘For Sale By Owner’ listing, which traditionally results in lower purchase prices. As prospective buyers and sellers take on more of the responsibility of home discovery through increasing use of online search tools, GoldenKey offers a third alternative for real estate consumers, providing customized agent assistance at a fair price.
Tommy Sowers, GoldenKey founder and CEO said: “The false choice of full-service commissions that can destroy 50% of home equity or attempting to go it alone is over. Our technology platform turns agents into allies by offering a simple fee structure that provides a customized level of professional agent services that people need when buying or selling a home. This latest investment will accelerate our growth, allowing us to not only expand nationwide but to build more tools for smart home buyers, sellers and agents. We are proud to have investors like Lowe’s Ventures who help enable our mission of building greater personal wealth for consumers and agents.”
GoldenKey operates like a marketplace not a brokerage, leveraging technology to connect home buyers and sellers with supportive commission-free agents. It was the company’s unique and disruptive approach of building personal wealth by reimbursing the traditional agent commission that caught the attention of Lowe’s Ventures.
As GoldenKey continues its rapid growth across the US, both real estate agents and consumers have embraced the platform. As an agent, the top five percent across the country make 90 percent of all commissions, which can often mean a struggle for those on a commission-only fee model. With GoldenKey, agents are paid for the work they deliver, when they deliver it. In the last year, GoldenKey has built a strong community of more than 1,900 real estate agents across 47 states who have helped consumers save more than $700K of commissions on more than $25M in real estate transactions. This model is helping them achieve the new American dream—home ownership that builds personal wealth.
In addition to the funding, GoldenKey is launching a new contest entitled the “Quit dreaming of wealth, start building it!” challenge, offering $5K gift card to spend in Lowe’s stores for home renovation as the grand prize. Contestants gain entry to the contest by online activities like sharing what they would do with their real estate commission savings and the gift card.
“We constantly hear from people that are frustrated by the traditional real estate process saying ‘I wish I knew about you!’” continued Sowers. “With this competition we hope both our current and future customers will help spread the word that there is a new, smarter way to transact in 2017. And with $5K up for grabs to make their new house the home of their dreams, we know we’ll find those home buyers and sellers that really care about building wealth.”
About GoldenKey
GoldenKey is a disruptive digital real estate platform that turns agents into allies by offering customized commission-free agent assistance for a fair price, empowering its users to build greater personal wealth. Its modern approach of working with real estate agents connects its customers with certified supportive agents to help them through the complex process of buying or selling a home. Users can customize their experience, paying only for the agent support services they need. GoldenKey reimburses its users the commission that they would usually have paid their agent, creating an opportunity to build personal wealth.
GoldenKey’s increasing user base has led to the company achieving over $25M in transactions to date, returning over $700K in commission fees to US home buyers and sellers. Its real estate agent community has grown to include over 1,900 agents in 47 states across the U.S.
To learn more about GoldenKey and how it helps to build personal wealth for home buyers and sellers, please visit: www.goldenkey.com.
