Could a PayPal exec's startup spell trouble for agents?

If a former Square and PayPal exec’s stealth startup takes off, it seems possible that real estate agents could face the threat of “disintermediation,” or at the least, a reduction in their role in the marketplace.

Keith Rabois, a former exec at Square and PayPal who now helps oversee Khosla Ventures’ consumer investments, is building a platform designed to help people buy and sell homes entirely online with only a few clicks, TechCrunch reports.

Rabois wouldn’t disclose many details on the project, currently called “Homerun,” to TechCrunch. But he did say that the platform will exclusively serve owner-occupants and will streamline both cash and mortgage-financed sales.

“For most people, homes are their biggest asset and it’s completely illiquid,” Rabois told TechCrunch. “This is a really expensive transaction for many people. What we’re going to provide is instant certainty, liquidity and convenience for normal people to sell their homes.”

Source: TechCrunch