VC-backed real estate startup expands into Charlotte, charges sellers a flat $5,000

VC-backed real estate startup expands into Charlotte, charges sellers a flat $5,000
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Properly, an Atlanta-based real estate service for home sellers, has officially launched in Charlotte.

Properly is an online real estate brokerage that charges a flat $5,000 fee to guide you through the process of selling your home, instead of the usual 3% fee charged by listing agents.

Properly’s cloud based software and agent support (they’re licensed brokers in N.C.) allows sellers to price their home, distribute listings, manage showings, negotiate offers and sign closing documents.

Basically, sellers can oversee the entire transaction online while Properly’s team and software handle the details and negotiations.

It feels a lot like what Wealthfront is trying to do in the financial planning space — a hybrid technology/human solution to a complex problem.

Although very different in its value proposition, Properly joins Knock, Offerpad, Ribbon, Opendoor, and Zillow — all of which are looking to disrupt the residential real estate market with a local presence here in Charlotte.

Sardis Woods

According to numbers provided by Properly, over $30 billion is spent on residential listing commissions by U.S. homeowners each year. So, it’s a massive market. 

Charlotte is Properly’s first expansion city. The company has been focused on Atlanta since it launched in 2015 and shared with the Agenda that they’ve sold over $50 million of real estate (more than 100 homes) in that period.

“Charlotte is the ideal market for us. It’s a young, fast-growing city with a large community of busy homeowners who are looking for a better, faster way to sell their home,” said Properly CEO and co-founder, Ben Kubic.

The startup is backed by NextView Ventures and Lerer Hippeau, two venture capital firms that were early investors in companies like Warby Parker, Casper, BuzzFeed, and TaskRabbit.

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