How this Texas real estate startup is saving homebuyers and sellers thousands of dollars
Alex Doubet has a plan to shake up Texas real estate. The innovative businessman is taking his disruptive brokerage company statewide. Door, now has imprints in Houston, Dallas, San Antonio, and Austin. And that, he says, is great news for homebuyers and sellers.
"The average homebuyer is paying 6 percent in commission," he says. "And that adds up. Our service, on average, is saving people $12,000 when they buy a house."
When the Dallas-based Door launched in 2015, it shifted the real estate paradigm. Gone was the idea that a homebuyer or seller had to pay a commission to a real estate agent. Gone was the idea that a homebuyer even needed a real estate agent.
"Ninety-five percent of people who are buying a house look online," says Doubet. "They're not necessarily calling a real estate agent and having that agent find houses for them."
The key to Door: Simplicity
So, Doubet took that kind of DIY approach and tweaked it. Every one of his agents is an employee, not an independent contractor. For each sale, the buyer and seller pay a flat, $5,000 fee. Doubet's idea was to be a one-stop shop, where homebuyers could not only find and purchase a home, but also have assistance with mortgage lending and home titles.
"My plan was always to save people money and give them the best experience," he says.
Having now expanded across the Lone Star State, Doubet says that he's ready to share his company's expertise with customers in Houston. Because they're employees, Doubet's agents are focused on providing a high-quality, tailored experience for consumers — not pushing them toward properties that might net a fat commission.
Door has harnessed technology, too, recognizing that most people today transact business in the online world.
"It's something of a brave new world," he says. "But we're using technology to deliver better outcomes for our buyers and sellers."
Buyers will find Door agents are able to work with them to identify properties, schedule home tours, coordinate offers, and assist with the closing. Meanwhile, sellers' agents deliver market analysis, meet the seller at his or her home to do an evaluation, and set up stagings and photo shoots for the listing. Door agents work with their buyers and sellers, as well as with each other, sharing resources and expertise, and making certain that their clients feel like individuals.
Clearly, the company is making an impact. Door has a 4.9 star rating on Zillow. And recent news reports from the DFW area indicate the company's processes are hot with millennials, who are known for their own tech savviness and preference for quick, online transactions. Every one of the company's agents is a licensed real estate agent and Door is a member of MLS.
"People are starting to realize there is an alternative to how we buy and sell real estate today," says Doubet. "And we're making sure our clients have a stress-free, easy, cost-efficient experience."
This story originally appeared on CultureMap.