When Jim & Kris Falvo decided to sell their home fast and maximize their profit, they didn’t go to a traditional real estate agent. Instead they called upon Dallas based Real Estate startup, LystHouse Inc. LystHouse uses automation technology to slash high real estate commissions and pass savings on to their customers. After a little research Jim & Kris decided to try it out.
They were floored, and had this to say about the results:
“We’ve bought and sold a half-dozen homes and were all-too-familiar with the drill… you know… you find a listing agent who either gets 6% of the sales price or splits it 50-50 with another Realtor. Either way, we knew that selling our house was going to be a chunk of change. At least that’s what we thought. When we found LystHouse online, I couldn’t believe my eyes. They offered several listing packages and we choose their full-service plan that would cost us no more than 1% of the sales price. This was really innovative for the Real Estate market. I remember back in the 50’s when McDonalds offered fast food for a nation on-the-move. They provided a service that was right for the times. LystHouse has a similar vision for the way that people want to buy or sell their homes these days. But to be honest, at first I was skeptical…as in ‘you get what you pay for.’ But LystHouse delivered the full service that we expected. In fact, our house sold in four days after it was listed! So, really, I highly recommend LystHouse if you want to keep more of your equity – and who doesn’t want to do that!”
The Dallas couple was able to sell their house within weeks and saved $9,625 in the process.
Launched in 2015, LystHouse’s real estate market share in Dallas has been increasing month over month and they have no plans of slowing down.
The archaic process of real estate has been ripe for change. After all, it is 2016 and surprisingly, there are relatively few real estate tech companies offering solutions. Some real estate tech companies like Redfin and Opendoor have raised hundreds of millions of dollars and achieved very little. They are either pushing borderline strong-armed robbery and taking advantage of customers, or putting all their money into shiny bells and whistles that offer little value to the consumer or real estate agent. The gap between what real estate tech companies want, what real estate agents want, and what the consumer wants has only widened. LystHouse is changing that with low cost highly automated real estate solutions that make the real estate process simpler, quicker, and more cost effective for everyone.
LystHouse Inc. is currently in development mode working on their next iteration of the back-end functionality that will power their systems and are targeting a launch in the fall of 2016. But they’re taking clients today. And because LystHouse only takes 1%, that translates into thousands of dollars in savings for both the home buyer and home seller. Now, the Texas home seller can maximize the ROI (return on investment) on their home sale with no hassle, and the Home Buyer can quickly and easily find a home and get that contract locked down. It’s a win-win for everybody.
John Wingate, the CEO of LystHouse has this to say about their business model “It’s unique in that we are the only company taking an inside out look at the real estate industry, and building from the ground up, a technology powered real estate brokerage – whats more, we’ve got the team to do it!”
Right now, LystHouse services all of Texas, but the company plans to launch in additional markets in 2017.
They are doing this so far with little outside investment. This is due in large part to the tremendous team they’ve been able to bring together. LystHouse was for a short time this spring working with Startup Incubator Tech Wildcatters in downtown Dallas, but they pulled out after a few weeks in the program citing conflict of interest concerns.
But, they aren’t saying no to ALL outside investment. In fact, LystHouse will be at Collision Conference in NOLA next week and they hope to bring the right investors on board that can help the company accelerate their growth.
“It’s great when you’re lucky enough to get the right people, working on the right product, at the right time – it’s magical! We’ve found that magic.” said Wingate.
LystHouse will be in New Orleans, Louisiana April 26th – 28th, 2016 for Collision Conference. If you’re attending, be sure to stop by the booth and say hello or join LystHouse on the Pub Crawl! Contact us at (855) 866-8339