One my favorite sports is surfing the HAR.com website, and I know I’m not alone. Just as public access to the Multiple Listing Service changed the homebuying and homeselling landscape, the online real estate company Door (door.com) is making waves as the next disruptor of an archaic industry.
It’s the trend. Today’s business landscape has been upended by startup companies that are changing the fundamental ways in which business transactions are conducted. Uber and Lyft disrupted the transportation industry. Airbnb disrupted the rental market. Amazon disrupted retail. Now, Door is leveraging technology and information to disrupt home buying and selling with a new business model.
Think about it: a model that does away with hefty agent commissions in favor of a flat fee to list, sell and close a home. Buying or selling a home with Door is a seamless experience with professional, non-commissioned, licensed agents who are aligned with your interests. It’s convenient, cheap and fully transparent — and based right here in Texas, with a founder and CEO who’s just 30 years old — named Alex Doubet.
Door’s model seeks to mitigate the loss of equity when selling a home and is helping people entering the real estate market recognize that the traditional 6% realtor fee is antiquated; to that end, Door’s flat-fee approach to selling a home is starting to become a threat to the old commission model.
Door’s licensed real estate agents are salaried employees — not commission-based. Unlike most real estate deals that include that money-stealing commission – 3% for the agent on either side of the deal – Door charges a flat $5,000 to list, sell and close a home. When buying a home with Door, they split the buyer’s agent commission or BAC with the new owners.. giving you 1.5% back. Since its launch, Door has returned nearly $3.5 million in commissions back to their clients — all while driving the industry’s highest customer satisfaction.
The major difference between Door and a traditional real estate company is that Door is built on integrated technology — Door has built a team of experts that assist in the entire process of buying and selling of a home as opposed to the previous model of a single agent handling the listing, marketing, and open houses.
Door uses social media and online marketing to target potential buyers — nearly 95% of buyers find their next home online within the first seven days of it being listed. Door also operates as a one-stop brokerage firm, title company, and mortgage licensing company. They’ll even value your home as the first step of the selling process.
Bottom line — Door cuts the unnecessary costs and does it faster than a traditional real estate company. To date, Door has exceeded $500 million in sales and is quickly gaining significant momentum in Houston after already launching successfully in Texas’ three other major cities.