NEW YORK--(BUSINESS WIRE)--Landis, a company that uses technology and data science to help Americans reach homeownership, today announced that it has expanded its U.S. presence to help real estate agents close more transactions across the country as part of the National Association of Realtors®’ (NAR) REACH program. The program is operated by NAR’s strategic global investment arm, Second Century Ventures.
As of today, Landis now operates in 47 cities located across Alabama, Georgia, Indiana, Kentucky, North Carolina, Maryland, Ohio, South Carolina, Pennsylvania, Tennessee and West Virginia, Landis’s partnership with NAR will allow the company to tap real estate agents in each local market.
Founded in 2018 by Tom Petit and Cyril Berdugo, Landis is a social impact-driven company with a mission to guide renters on their unique path to purchasing a home. The company, which aims to take on the housing affordability crisis, leverages technology to help Americans improve their financial literacy, obtain a mortgage, and ultimately achieve homeownership.
Landis’s business model is also structured to increase the productivity of real estate agents. Real estate professionals who partner with Landis can refer clients who don’t qualify for a mortgage to Landis, while remaining the agent of record and generating a full commission upfront when Landis purchases a home for a client.
As a result, many real estate agents have expressed their gratitude for working with Landis. Paige Corbett of eXp Realty says, “My experience working with Landis has been nothing less than fantastic! Every member of the team has great communication skills, positive attitudes and is willing to find solutions. I can tell they’re working hard to continue to foster a program that ANY home buyer can be a part of and achieve the dream of homeownership. As an agent working with Landis, I’ve had opportunities for transactions that I wouldn’t have had anywhere else.”
Landis’s innovative technology, which can assess if a client will be mortgage-ready in the future, helps those left behind by traditional mortgage lenders. Landis ensures client success by giving them a budget to pick a property, which the company then purchases, and allows them to move in as a renter. The agent generates a commission when Landis buys the house on behalf of the client.
As a renter, the client has time to build up their down payment, increase their credit score and work with a Landis Coach 1:1 through the Landis Homeownership Coach app to improve their mortgage-eligibility.
“We’re thrilled to be working with the team at NAR,” said Cyril Berdugo and Tom Petit. “Having access to their industry expertise and vast network of real estate professionals is something that we know will help drive our business forward. We look forward to working closely with NAR and reaching more real estate agents, who have been our best allies when it comes to supporting our clients’ transitions to homeownership.”
“Referring clients to Landis is a win-win given the full commissions agents earn upfront when Landis purchases a home, and we have the confidence that their client will benefit from the Landis homeownership program,” said Tyler Thompson, Managing Partner, Second Century Ventures. “We’re honored to provide opportunities and exposure to the global real estate marketplace for Landis as they continue to work toward financial equality in America.”
Landis also recently announced the closing of $165 million in debt and Series A equity financing. Led by Sequoia Capital, the Series A round also included participation from Jay Z’s Roc Nation, Will Smith’s Dreamers VC, NAR’s Second Century Ventures, as well as existing investor Signia Venture Partners. In addition to participation in the NAR REACH program, this new funding will also allow Landis to help more Americans on their path to homeownership by expanding to new states and cities, hiring talent nationwide and overall providing a better experience to clients, partner agents and lenders.
To learn more about Landis, please visit Landis.com.
About Landis Technologies
Landis helps people on their unique path to homeownership. The company allows its clients to rent the home of their dreams for up to 24 months and purchase it as soon as they are mortgage-ready. The Landis Homeownership Coaching App, which guides its users to mortgage-readiness, is available for free on the App Store for iPhone users. From their headquarters in New York City and offices across the US, the Landis team is proud to be using the latest technologies to have a direct impact on its clients’ financial future. Backed by Sequoia Capital, Signia Venture Partners, Radical Ventures, Dreamers VC and Arrive, a subsidiary of Roc Nation, Landis is headquartered in New York City and operates in Alabama, Georgia, Indiana, Kentucky, North Carolina, Maryland, Ohio, South Carolina, Pennsylvania, Tennessee and West Virginia. For more information, visit www.landis.com.
About NAR and REACH
The National Association of Realtors® (NAR) is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries. REACH is a unique real estate technology scale-up program created by Second Century Ventures, a strategic investment fund backed by the NAR, which leverages the association’s members and an unparalleled network of executives around the globe. The REACH program helps technology companies accelerate their growth across the real estate vertical and adjacent markets through education, mentorship and market exposure to one of the world’s largest industries. For more on NAR, visit www.nar.realtor. For more on REACH, visit www.narreach.com.