Flyhomes is a trade up brokerage that guarantees the sale on a buyer's current home so they can buy a new one. Flyhomes also offers standard buy and sell brokerage services. Flyhomes is owned by one corporate entity and does not operate franchises in the US.
Buyers who also need to sell a new home use Flyhomes to find a new home. When the buyer is ready to purchase, Flyhomes helps the buyer make a cash offer on the new home. The buyer can move into the new home while Flyhomes will then try to sell the buyer's existing home. If Flyhomes does not sell the home, it will buy the home at a pre-agreed price. Buyers and sellers can also independently work with Flyhomes to buy or sell their home. In those cases, Flyhomes provides the buyer or seller with an agent team who helps them with every stage of the process for buying and selling.
Flyhomes charges a 2.5%-3.0% commission for helping on either the buyer or seller side. Flyhomes offers a rebate of up to 0.75% to buyers.
Flyhomes primarily generates revenue through real estate commissions from buyers and sellers paid on a successful home purchase or sale. Flyhomes also generates money through ancillary services such as mortgage and title insurance. On homes Flyhomes purchases as part of its home sale guarantee, it may also generate revenue from the home price appreciation between the price it purchased the home for and the price it ultimately sells the home for.
Flyhomes is privately held.
Flyhomes employs agents as full-time employees. As a result, agents are paid a salary and smaller sales commission by the brokerage rather than being paid entirely based on sharing commissions via a traditional commission split.
Flyhomes employs agents as full-time employees rather than independent contractors.