New real estate platform is intended to relieve California Down payments
“In the current market, the biggest barrier for the homeowner is not the mortgage, it is the down payment,” Ramez, co-founder of Zown and CEO. “Most people with an average income are detained and pay someone else’s mortgage through monthly rent. At the same time, they earn too much to be eligible for traditional assistance programs, but not enough to save for a down payment as house prices rise.
“That is what Zew is stepping into. We set a new standard for the industry by offering in advance, tangible support where buyers need the most, at the start of their journey.”
Ramez added that his own frustrations as a home seller led to the creation of Zewn.
Platform functions
Zown pombers buyers with a recognized agent who uses the tools of the company-such as artificial intelligence prize views, real-time comparable data and predictive analyzes-to help navigate the market.
Preprovals are processed quickly, sometimes in less than five minutes, either by the preferred financier of a buyer or the system of Zewn, said leaders.
A statewide network of listing agents also enables buyers to plan at home travel on request, so that the bottlenecks are often associated with the traditional model with one agent.
Zown said it only retains 1% of the buyer’s agent committee and returns the rest to the buyer if a boost of the deposit in advance – or to buy mortgage interest and lower monthly payments.
“The housing market of California is a steep challenges for first and budget -conscious buyers. Handy prices and fierce competition make it difficult for even well -qualified buyers to break in,” said President Afraj Gill.
“In cities such as Los Angeles, San Diego and San Francisco, the average deposits in less than two decades have risen by 86%,” he added. “Some buyers are now confronted with a 20-year-old struggle to save enough to get started. That is simply untenable. The model of Zown puts real money back in the hands of buyers so that they can compete and win in the current market.”
Impact on agents
Agents are paid a salary instead of working exclusively on the assignment – a change designed to encourage the service above the sales volume, said Zown.
“Buying a house is one of the biggest milestones of life, and you deserve an agent who you see as more than just a transaction,” said Lisa Touney, the chief agent of Zown, the broker of Zown for California.
“The technology of Zown is built to ensure fast, reliable and human support with every step of the road, so although buyers of Zown naturally praise the savings, the service they receive and the support they feel during the entire process is just as considered.”
ZOWN agents also have access to their own tools that contain consolidated data on factors such as living -work times, school reviews and crime statistics -functions that the company said that agents give deeper insights to guide or sell customers.
