Sellers Shield, a flourishing real estate technology business, has secured 15 million dollars to expand into new marketplaces across the nation.
Elsewhere Partners, an investment firm established in Austin, provided the funds to Sellers. Friends, relatives, and financiers had previously contributed $2.7 million to the Austin-based firm.
The company, which was established in 2015, has created a digital portal for property disclosure documents that, according to the firm, minimizes the risk of litigation for vendors, agents, and brokers. It also provides legal protection for house sellers in the event of a dispute.
The solutions created by legal professionals offer protection to residential property vendors during the post and pre-transaction phases. The platform teaches sellers how to reduce their risk of being sued, especially when filling out the state-mandated vendor's disclosure statement, which is the most prevalent source of buyer-seller cases.
Sellers Shield's tools products have videos that show significant points of risk for sellers.
Its Legal Wizard service leads vendors over each query as they complete the online disclosure form. According to Sellers Shield, a fully done disclosure statement is then sent to the vendor and agent via email, avoiding the danger of incomplete and eligible documents.
The firm's Home Sale Legal Protection program provides approximately 20,000 dollars inexperienced legal assistance to home sellers in the event of a claim. Lone Wolf Real Estate Technologies, Texas Realtors, Coldwell Banker, eXp World Holdings, Keller Williams Realty, etc., are among the brokerage firms, organizations, and tech firms with whom Seller Shield partners.
According to Bo Blackburn, a property lawyer and co-founder of Sellers, disclosure paperwork is at the heart of most house sale conflicts.
Formerly, sellers have been the only participant in the deal not covered. Blackburn stated that in every property deal, disclosure could be the poison pill. He further remarked that he and his team are on a mission to take the housing market out of court to safeguard home sellers from mental and financial pain litigation.
As per Blackburn, the new funding will help the brand grow nationally, successfully reaching more brokers and vendors. After beginning in Texas, Sellers Shield has grown to twelve provinces. According to the business, 200,000 brokers and vendors have utilized the portal for transparency in the last three years. CEO Jeff Daily said agents desire their customers and companies to be safeguarded from litigation, hence why their system has become the best model for disclosure.
The investment will expand the company's presence throughout the United States, notably Kentucky, Michigan, & Minnesota. It will also put money into research and development.
Authorities with Sellers Shield stated the company presently has twenty-four full-time professionals and aims to hire up to twenty more in the next term, with as many as feasible in Austin. Senior management positions like product head, chief marketing officer, finance VP, and sales director are the new job openings. Furthermore, the company will hire development professionals in sales, customer support, branding, and accounting.
The business does not provide financial details, although it claims to be on course to triple yearly revenue by 2021.