Divvy Homes and zavvie have teamed up to bring Divvy’s rent-to-own program to zavvie’s expanded brokerage marketplace, the companies announced in a statement.
Divvy Homes, a property-technology startup valued at $2 billion, provides a rent-to-own buying option to real estate brokers and agents. Through the program, buyers pay rent on a home to Divvy, part of which is put aside to save for a downpayment. When buyers have saved enough for a 10% downpayment, they can then buy the home from Divvy. The program is currently available in 16 major metros.
“The path to homeownership is more challenging today than ever before,” said Divvy Homes Co-Founder and CEO Adena Hefets. “Divvy is leveling the playing field by accelerating one’s ability to become a homeowner. We’re a new kind of real estate company that is helping people build wealth while living in a home they will soon own.”
It is expanding its availability through zavvie, a real estate brokerage marketplace that connects broker-agents and sellers to buyers. Other companies offered through the zavvie marketplace include Feeasy, Flyhomes for Agents, Halo, Homeward, Knock, Landis, Ribbon, and Super.
“Divvy Homes helps make sure zavvie delivers every option for today and tomorrow’s home buyers and sellers — and that a trusted real estate agent remains at the center of every transaction,” said zavvie co-founder and CEO Lane Hornung.
The companies anticipate Divvy Homes could reach tens of thousands of new real estate agents, according to the statement.
“Housing affordability and accessibility offers exciting new opportunities for brokerages and their agents,” said Hornung. “Agents who embrace these new buying options can do well by doing good.”