Flyhomes announced it will exit the real estate brokerage business and focus exclusively on distributing its flagship Buy Before You Sell products through wholesale channels. The company will transition its real estate agents to another brokerage platform by the end of the month.
“We invented and refined our products through years of serving consumers and gaining a deep understanding of their needs and pain points,” said Tushar Garg, co-founder and CEO of Flyhomes. “After completing billions of dollars in transactions, this move completes our shift and focus to wholesale lending and lets us scale Buy Before You Sell through the professionals homebuyers already trust.”
All currently active brokerage clients will transition with their agents. Going forward, Flyhomes will concentrate its efforts exclusively on enabling lender partners to offer its bridge financing solutions, including through third-party real estate agents.
“Nearly two years ago we eliminated our direct-to-consumer mortgage business to avoid channel conflicts with our loan officer partners,” said Adam Hopson, COO of Flyhomes. “Today we’re doing the same on the brokerage side. We’re now laser-focused on driving the success of all loan officers and agents by giving their clients a simpler, more cost-effective path to buying their next home.”
The company’s Buy Before You Sell program allows homebuyers to purchase their next home without waiting for their existing property to close, by securing a backup offer on their current home and using that equity toward a new purchase.
The move follows the July sale of Flyhomes’ AI-powered home search portal and a $15 million Series D funding round led by existing investors. Along with a new warehouse facility with financing capacity of more than $200 million, the company said the proceeds will support the nationwide rollout of Buy Before You Sell and annual production of over $1 billion.
Flyhomes’ loan products are currently available in 36 states, with plans to expand further. The company said it works with more than 30,000 loan officers across many of the nation’s top lenders.
