When we founded Brevitas, a key focus of our efforts was adding much needed efficiency to the transaction process for private listings. We knew we could make real estate acquisition easier. We knew the number of phone calls, legal documents, and miscellany that were sent from party to party – often taking weeks – could be funneled into one place and moved much more quickly. So, we set out to improve this process in a way we thought should have happened years ago.
Brevitas breaks the transaction into seven fundamental milestones:
- The buyer requests more information on a closed listing.
- The seller is notified, reviews the buyer’s profile, and approves the buyer/sends a confidentiality agreement.
- The buyer endorses the confidentiality agreement and sends it back to the seller for their signature.
- The seller executes the confidentiality agreement and the full property listing is opened and both parties have full access to documents.
- The buyer can request a meeting at this point and will be introduced to the selling party.
- If the parties enter into escrow, they can notify potential buyers that the asset is in escrow in order to manage incoming buyers.
- Once escrow is complete, buyers can close the sale on the Brevitas dashboard. The sale becomes part of the buyer’s profile, adding cache to their profile.
Both parties can cancel the deal at any point through this process.
The goal here is simple. There are a number of complex steps that take place when a buyer and seller are initiating their deal that can severely slow down what could be a very straightforward process. The complexities of real estate acquisition should be reserved for the negotiation table and eliminated elsewhere.
Our transaction process is part of a broader effort that Brevitas makes to improve real estate acquisition. We aren’t re-inventing the wheel, but building upon current practices with improved technology.
-Max Kaplan, CTO