The co-founder of Uber today introduced a new platform that considerably boosts transparency in real estate transactions.
The venture, named Haus, is an “open and fair real estate platform” that grants real estate agents and homebuyers access to all of the offers in front of a seller, among other permissions. The platform was developed by Expa, a startup studio helmed by Garrett Camp, co-founder of Uber.
“Most aspects of life have been improved by technology, yet buying or selling a home is still a manual process,” said Camp in a statement. “Haus is creating a platform we believe can revolutionize the way people buy real estate. The open and clear communication creates a more efficient and fair process for everyone involved.”
The goal of the platform is objectivity—it not only notifies agents, buyers and sellers when a new offer is submitted, but also allows them to view the price and terms of the offer, and all other offers, at any given point in the transaction. Names attached to the offers remain confidential.
Access to this information could catalyze bidding wars, with the potential to shortchange sellers, who may receive bids that only just trump the second-best offer.
“We think the openness will create a more efficient market and that the number of offers and price will ultimately be dependent on demand,” Sarah Ham, the general manager of Haus, told TechCrunch. “Bidding wars are a common, almost accepted, part of the real estate process today—but with our approach, buyers will know where they stand.”
To learn more about the platform, visit Haus.com.