Catalist Homes scores $3 million in investor funds
Low-rate commission broker gets Series C financing
By Inman News, Tuesday, January 25, 2005.Southern California-based CataList Homes, a seller-focused residential real estate brokerage firm, has secured $3 million in investor funding, according to a VentureWire news report.
The Series C financing is led by new investor Presidio Merchant Partners LLC, of San Francisco.
Catalist Homes charges home sellers a 3 percent sales commission for full-service representation, marketing and MLS exposure, including a 1.5 percent buyer-side co-op commission split. Its agents are compensated with a combination of salary and commission.
The company is led by a think tank of commercial realty giants who've watched technology facilitate the growth of sophisticated buyer databases that by 1999, contained the names of all buyers most likely to purchase multimillion-dollar commercial properties. The company believes Internet-accessible MLS listings will similarly impact residential buyer's agent commissions.
Investors of Catalist Homes include Bill Millichap of Marcus & Millishap' and Chris Brahm of Bainlab, a wholly owned subsidiary of international management consulting firm Bain & Co.
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