Prevu, a customer-focused digital home buying and technology platform, today announced its expansion into Philadelphia, advancing its strategy to bring greater transparency, efficiency and affordability to the home buying process in metropolitan cities across the country.
Beginning today, Philadelphia residents can leverage Prevu’s online platform to search for homes, schedule tours, make offers, negotiate purchases and close on their transactions. Experienced local agents are available to assist throughout the process and step in during the last mile to manage the more complicated aspects. Moreover, buyers who purchase a home through Prevu receive a Smart Buyer™ rebate of up to 2 percent of the purchase price. Since launching in the New York Metropolitan Area in 2017, Prevu has saved buyers on average $23,000 per transaction.
In an age where people are increasingly transacting online, Prevu modernizes and simplifies home buying, enabling consumers to take greater control of the process from start to finish with zero pressure. This results in a more empowering and hassle-free experience, saving buyers time, money and frustration.
“As major cities like Philadelphia continue to lead the country in population and job growth, home values have risen to all-time highs,” said Thomas Kutzman, co-founder and co-CEO of Prevu. “Our Smart Buyer™ rebate makes the dream of home ownership in these cities more attainable, while giving buyers more control over the process than they’ve ever had. In addition, we are in a strong position to capitalize on expected rises in homeownership as more millennials begin to enter the buyer pool, and our platform offers a structure and interface that aligns with the digital experiences to which they’ve become accustomed.”
Prevu’s entry into Philadelphia marks its first major expansion outside the New York Metropolitan Area and comes shortly after closing its $2 million seed round in September 2019. With a strong and growing tech sector, a high concentration of millennials and universities, an abundance of high-paying jobs and a sophisticated public transportation system, Philadelphia represents the type of market Prevu is looking to enter to advance its growth objectives.
“The economic outlook for Philadelphia is quite strong, driven in large part by the education and health services industries as well as the growing technology sector, for which venture capital funding of more than $1 billion flowed into the city during the first three quarters of 2019. This is all driving job, wage and population growth,” said Chase Marsh, co-founder and co-CEO of Prevu. “With interest rates and unemployment at historic lows, we expect there will be strong demand for our product, because it’s seamless, practical and savings-oriented.”
Prevu has hired experienced real estate executive and broker, Todd Hovanec, to lead its operations in the market. Mr. Hovanec has extensive knowledge of the Philadelphia housing landscape, having spent the past decade overseeing the sales efforts for a local residential brokerage and investing in a number of multifamily development projects. He is licensed in Pennsylvania, New York and New Jersey and will report to Messrs. Kutzman and Marsh.
“I’m excited to be joining such an innovative and customer-focused company in Prevu, whose platform has brought much-needed modernization to the antiquated home buying process,” stated Mr. Hovanec. “Philadelphia is the ideal market for Prevu to enter considering the growing number of smart and tech-savvy individuals that are looking for new options and stand to benefit from Prevu’s differentiated offering.”
About Prevu
Prevu is a real estate technology company on a mission to save homebuyers money. The company’s digital Smart Buyer™ platform offers a homebuying experience with unparalleled control, transparency and savings when purchasing a home. With Prevu, consumers can seamlessly search, offer and save up to 2 percent of the purchase price when they buy a home. This zero-pressure online experience delivers a smarter, more efficient way for homebuyers to transact. To learn more about the company, visit www.prevu.com.
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