NestApple – NestApple is paying back to clients the commission that realtors usually keep for themselves

Startup Name: NestApple

Tagline: NestApple is paying back to clients the commission that realtors usually keep for themselves

Elevator Pitch: New York-based next generation real estate technology and brokerage firm NestApple (www.nestapple.com) is offering home buyers the opportunity to earn a 2% rebate check of the sale price.

Target Market: NestApple is a licensed brokerage with an efficient platform which assists clients in placing a bid all the way through closing the deal and everything in between. NestApple’s founders believe buyers can look up properties themselves; all the information is available online and all you need is a guiding hand and experienced agent to assist you in pricing and negotiating. The role of brokers has changed and so should the commission they receive. “Our goal is to bring sellers and buyers together in a more efficient way, and pass the savings onto our clients”, says Nicole Fishman Benoliel.

How will you make money?: Real estate fees are too high

Real estate fees in the U.S. and New York especially are considerably higher than in Europe and represent 5 to 6% of the sale price. This percentage is then split evenly between the seller’s agent and the buyer’s agent (2.5% to 3% for each), if not, seller’s agent receives the entire commission. NestApple is listening to the market. While some brokers sometimes give small discounts, a vast majority of them will not decrease their commission structure.

NestApple pays back 2% to the buyer at closing which averages $22,000.

How much capital have you raised?: 250-500k

Founder(s) Name: Georges Benoliel

Website: http://www.nestapple.com

Twitter: nestappleRE

City/Country: New York