Northern Virginia tech startup looks to disrupt real estate market
Sellona, a Virginia startup, is looking to disrupt the homebuying market by connecting buyers and sellers directly.
ARLINGTON, Va. — We’ve all window-shopped for homes online, but when it comes to actually buying, you still need a real estate agent to close the deal – right?
A Northern Virginia startup is betting that’s about to change.
Sarah McLaren, a former real estate agent in the area, co-founded Sellona to let buyers and sellers connect directly – cutting out the traditional commission fees.
“On a $2 million house, which is pretty common in Arlington, a 5 to 6% commission could be $100,000 to $120,000,” McLaren said.
Sellona works a bit like a dating app for real estate. Buyers create a profile, get connected with mortgage lenders, contract attorneys, inspectors, and other necessary experts.
Sellers, meanwhile, create a listing profile for their home. Once matched, the app guides buyers through a checklist to complete the transaction.
The best part for buyers? There’s no commission fee. Instead, Sellona makes money from experts who advertise on the platform.
“There’s no signing contracts, no days on the market if you’re a seller. Just a direct way to securely connect with one another,” McLaren said.
Sellona plans to roll out an AI-powered app soon, aiming to make homebuying even easier.
“AI is going to play a huge role. It’s going to get smarter and make better predictions about exactly what you need and when you need it,” McLaren added.
With technology already helping people find jobs, partners and cars, it may not be so far-fetched that it could help you find your next home — potentially swiping required.