Startup aims to disrupt housing market
December 6, 2018
A Toronto startup claims that by harnessing the latest technology it can disrupt the residential sales train and deliver savings to those selling a home.
Justo Inc Brokerage, which launched in November, claims to have raised $4.5 million for its “client-centric” platform, which offers cash back to buyers and low commission rates for home sellers.
“Justo's model utilizes real time data and a sophisticated algorithm to determine the best selling price helping their clients make better and more informed decisions,” according Justo CEO Daphne De Groot.
She estimates that, based on the average Greater Toronto home sale price of $850,000, a buyer would receive a Justo cash back of $6,250.
For home sellers, Justo charges a 1.5 per cent commission, instead of the typical 2.5 per cent listing fee. In addition, the seller will get photography, 3-D tour, staging and lawyers fees at no extra cost. Justo offers a 30-day target price guarantee and drops the commission by another 0.5 per cent if the home does not sell within 30 days at the target price or higher.