Self-Funded Startup Seeks Outside Investment Capital to Propel Growth Plans

SACRAMENTO, Calif.–OBSNews.com–TheHomeBuyingCenter.com, a start-up online real estate brokerage, announced it has decided to seek outside investors to provide the company with additional access to growth capital. Analysts estimate that in 2007 more than $50 million was invested in real estate related businesses on the internet by angel investors, private equity companies and venture capitalists.

Citing this record growth in funding for online real estate businesses such as Zillow, Trulia, and Redfin Patrick McGilvray, J.D., president of www.TheHomeBuyingCenter.com, said of his company’s vision: “We’re not just seeing this market cycle in real estate now. We’re looking 5 years down the road and are looking for the right partners to join us to provide growth capital and mentorship. We’re looking to grow our team and make up for things we lack in our company’s structure.”

TheHomeBuyingCenter.com, founded in 2006, is on the verge of entering into an exclusive referral relationship agreement with an undisclosed national real estate franchise brokerage company. The company distributes home seller listing leads that do not fit an investor’s criteria and leads of home buyers seeking to buy foreclosure properties and bank owned or REO (real estate owned) properties in exchange for a commission split upon closing.

According to the National Association of Realtors 80% of people who buy or sell a house in the US use the internet to obtain information about their house buying or selling needs. The NAR also reports that 23% of web surfers eventually work with an agent they found on the internet.

McGilvray indicated that the company, which started as a referral source for real estate investors, now focuses the bulk of its operations on referring home sellers and prospective home buyers to work with top real estate agents across the United States.