CALIFORNIA – Zown, a tech-powered real estate platform announced June 2 its U.S. debut with an expansion into California.
Zown’s services — including its upfront down payment boost — is now available to homebuyers, sellers, and real estate agents across California.
The company said its reimagined approach makes buying a home more accessible and affordable, especially in California’s ultra-competitive housing market.
’20-year uphill battle just to save enough’
According to a recent report, California median home price hit an all time high of $910,160 in April.
“Some buyers now face a 20-year uphill battle just to save enough to get started. That’s simply unsustainable,” said Zown president Afraj Gill.
Zown offers buyers an upfront down payment boost — up to 2% of the home purchase price — to help overcome financial barriers and compete in high-cost markets.
Zown retains 1% of commission and returns the rest to the buyer
The company said the core of its model is a restructured commission system.
Instead of pocketing the standard 2.5-3% buyer’s agent commission, Zown retains just 1% and returns the rest to the buyer as an upfront down payment boost that can be used to buy down mortgage rates and lower monthly payments.
The company said its model isn’t just built for homebuyers.
Real estate agents are provided a consistent salary which it says removes the typical commission pressure that can rush clients through a transaction.
Zown’s U.S. expansion follows its growth in Canada, where the company has supported over 250 homebuyers and facilitated more than $300 million in real estate transactions.
For more information about Zown visit https://zownhomes.com/.
