Erik Barnlund
Bloomington, IL (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
OpenTheHome.com
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Startup
Location:
Bloomington
Industry:
Internet
Year Founded:
2006
Number Employees:
1-10 people
Description:
In just one short year, our company, (URL removed) has rocked the residential real estate community in Bloomington, IL and become its favorite real estate search engine. (URL removed) has finally given home sellers an inexpensive option for selling their home through the MLS database. We have already captured 1% of the market in this city and will have more than 3% in the next 24 months.
So, why has (URL removed) become so popular? Simple, we have finally ended the need to pay 6% commissions to market and sell your home. For only $500, (URL removed) clients can list their home in the MLS and find a buyer. They never pay a penny more.
To give you an idea of the difference, a seller would pay $15,000 in commissions to sell a $250,000 house. Using (URL removed), they would pay just $500…a savings of $14,500!
The best part is that our clients are able to keep their home prices down and sell their homes faster! And, as you can imagine in today’s economy, there is a HUGE market of home sellers needing to sell their homes quickly.
Now, $500 home listings are not the only revenue stream generated by (URL removed). We also offer a number of advertising opportunities to reach this captive and very targeted group of home buyers. Lenders, insurance carriers, and home warranty providers are just a few of the companies advertising their products and services on our website. As a result, they have all experienced an increase in sales.
We are currently looking for a $1,000,000 investment which would enable us to launch (URL removed) in 3 new major markets. Because most of the business is conducted through the website, we actually have low infrastructure costs and can operate a new location with only two employees.
We will begin by using $100,000 to add more functionality and features to the website. This will leave $300,000 for each of the three new markets. 50% of that money in each market will be used for an aggressive marketing campaign to jump start sales. The remaining 50% will be used to hire employees and cover office expenses.
We believe we can be cash flow positive in each new market within 18 months.
We are willing to give up a sizeable ownership stake in (URL removed). We would provide a 40% in equity for a $1,000,000 investment.
C-Level Executive (CEO, CFO, etc.)
OpenTheHome.com
Find More Service Providers
Service Provider
Location:
Bloomington
Description:
In just one short year, our company, (URL removed) has rocked the residential real estate community in Bloomington, IL and become its favorite real estate search engine. (URL removed) has finally given home sellers an inexpensive option for selling their home through the MLS database. We have already captured 1% of the market in this city and will have more than 3% in the next 24 months.
So, why has (URL removed) become so popular? Simple, we have finally ended the need to pay 6% commissions to market and sell your home. For only $500, (URL removed) clients can list their home i
Services Provided:
- Real Estate