Roofstock Surpasses $2 Billion in Property Transactions and Increases Home Sellers By 10x
OAKLAND, Calif.--(BUSINESS WIRE)--Dec 17, 2019--
Roofstock, the leading online marketplace for investing in the $3 trillion single-family rental home sector, announced it has surpassed $2 billion in transaction value since it debuted in 2016. The company’s momentum underscores the enormous pent-up demand from investors seeking exposure to U.S. housing and Roofstock’s success in leveraging technology to help investors access the asset class - making real estate investing nearly as easy as buying stocks.
There was also significant growth on the supply side. The number of home sellers on Roofstock’s marketplace increased by 10x from 2018, creating a steady pipeline of investment opportunities for prospective buyers throughout the year. The key benefits to sellers include selling 77 percent faster on Roofstock than through typical channels, the ability to sell tenant-occupied properties and significantly reduced fees compared to traditional brokerages.
Roofstock CEO Gary Beasley said: “Achieving $2 billion in transactions on our marketplace is a validation of our original thesis that people would be willing to buy homes, sight unseen, from anywhere in the world. Investors are hungry for exposure to tangible real estate assets and we’ve given them an avenue to get in the game, armed with extensive information and a robust set of services to support them at every step of the process. We’re excited to continue improving and rolling out new products in the year ahead.”
These announcements come on the heels of a $210 million transaction Roofstock helped facilitate through its platform on behalf of Invitation Homes, the nation’s largest institutional owner of single-family rental properties. Roofstock’s platform is unique in that it can serve both large institutional investors and retail investors seeking to buy or sell individual homes, or even fractional shares of homes.
Roofstock’s success with investors has enabled the company to invest in itself over the last year, with multiple new hires, awards and product releases that position the company for long-term success, including:
Matt Harris of Bain Capital Ventures said: “Roofstock’s incredible growth can be attributed to its rockstar employees, dynamic leadership team and a unifying vision to make the benefits of real estate investing available to everyone. Roofstock is leading the transformation of this industry, using technology to create a platform that offers more access, more opportunity and a better experience than anything previously available.”
Roofstock is a leading marketplace for investing in real estate, offering investment properties in top U.S. markets. The company provides comprehensive resources for investors to buy, own and sell real estate online, including data analytics, property management oversight, and other tools. Roofstock’s transparent, innovative marketplace empowers investors to own cash-flowing rental properties, diversify their investment portfolios and build long-term wealth through real estate. The company is backed by world-class investors including Khosla Ventures, Lightspeed Venture Partners, Bain Capital Ventures, and Canvas Ventures and was named to the 2019 Forbes Fintech 50 list.
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CONTACT: Brandon Jones
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: DATA MANAGEMENT RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE TECHNOLOGY CONSTRUCTION & PROPERTY REIT PROFESSIONAL SERVICES SMALL BUSINESS SOFTWARE OTHER CONSTRUCTION & PROPERTY FINANCE
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