Flat-fee brokerage adds $2M in VC

trelora forSale

A home listed for sale by Trelora. (Trelora)

Discount residential brokerage Trelora last week socked away another $2.2 million in venture capital to fund its war chest.

The LoHi startup, which employs 37, is looking for a total of $3.5 million, according to an SEC filing Nov. 8.

“We are hiring in the engineering department: software engineers, designers, product managers,” said CEO Joshua Hunt, who started the business six years ago. “We are hiring internal marketing and PR folks.”

Trelora charges home sellers a flat fee of $2,500, and charges homebuyers $2,500 to find and buy a property. The brokerage has 250 active listings, Hunt said.

Josh Hunt

Josh Hunt

This year, Trelora has closed 800 transactions with a median home price of $404,500, Hunt said. It employs six licensed agents. Hunt did not disclose Trelora’s 2017 revenue, but said the business is profitable.

Denver is home to other flat-fee brokerages, including Redefy Real Estate and BlueMatch.

Trelora’s biggest challenge is confronting other real estate agents. In 2015, multiple listing service REcolorado threatened to hit Trelora with fines or restrictions to its site.

“Our No. 1 challenge is the disrespect, the disdain and the immaturity of agents in our markets,” Hunt said.

To date, Trelora has raised as much as $7.4 million in outside capital, according to SEC filings.

trelora forSale

A home listed for sale by Trelora. (Trelora)

The LoHi startup, which employs 37, is looking for a total of $3.5 million in its most recent investing round.

You must be a member to access BusinessDen's exclusive reporting.

Your subscription has expired. Renew now by choosing a subscription below!

For more information, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING AARON@BUSINESSDEN.COM.

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.




Return to Homepage

21749

Leave a Reply

Your email address will not be published.