Bellevue, Washington-based Flyhomes has announced it is leaving the real estate brokerage business to focus exclusively on distributing its flagship Buy Before You Sell products through wholesale channels.
The company announced it will transition its real estate agents to another brokerage platform. All Flyhomes brokerage operations will be discontinued by the end of September, and the current brokerage clients will transition with their agents. The move to exit the brokerage business follows the recent sale of the company’s AI-powered home search portal in July and is fueled by a recently closed $15M Series D funding round led by existing investors.
Looking ahead, the company’s operations will focus on enabling lender partners to offer Flyhomes’ bridge financing solutions, including through third-party real estate agents, making the final step in the company’s strategic shift to a third-party distribution model. The company’s loan products are currently available in 36 states, with plans to expand into more markets in the coming months.
“We invented and refined our products through years of serving consumers and gaining a deep understanding of their needs and pain points,” said Tushar Garg, co-founder and CEO of Flyhomes. “After completing billions of dollars in transactions, this move completes our shift and focus to wholesale lending and lets us scale Buy Before You Sell through the professionals homebuyers already trust.”
“Nearly two years ago we eliminated our direct-to-consumer mortgage business to avoid channel conflicts with our loan officer partners,” added Adam Hopson, chief operating officer of Flyhomes. “Today we’re doing the same on the brokerage side. We’re now laser-focused on driving the success of all loan officers and agents by giving their clients a simpler, more cost-effective path to buying their next home.”
