As remote working becomes the norm for many, the demand for homes around the world has risen dramatically. If you can work from anywhere in the world – where would you choose? Unfortunaly, some regions do not offer a multi-listing service, and the process to purchase property can be convoluted depending on the jurisdiction, and this is where Far Homes steps in.
Having emerged from stealth, Far Homes has announced a $2.25 million seed round to simplify the process of finding, buying and owning homes around the world. The Proptech, which is based in Seattle, is first tareting Mexico – a popular destination due to its comfortable climate and affordability.
The initial investment round was led by PSL Ventures and includes other investors; Evan Moore, co-founder of Door Dash and former VP of Product at Opendoor, Laurence Jankelow and Ryan Coon, Co-founders of Avail which was acquired by Realtor.com in 2020, Victor Noguera, Co-founder of Flat.mx, and Franco Forte, co-founder of Mudafy, along with additional Redfin executives.
Far Homes lists properties for purchase and a concierge to support buyers throughout the entire process. The homes are said to be vetted, and include local property management partners.
Chet Kittleson, co-founder and Chief Executive Officer of Far Homes, stated:
“Where people work and live – and where they buy and sell homes – is changing. Our vision is that more people around the world have more access to finding, buying, owning and selling homes across borders. We are excited to grow our business, expand our network of partners, and help make a home abroad a reality for our customers. We’re grateful to our expert group of investors and advisors who share our belief in the enormous opportunity to simplify international home buying and selling.”
Far Homes has identified a clear opportunity in the market, says Ben Gilbert, the co-founder and Managing Director of PSL Ventures.
“While many now have the flexibility to work from anywhere, most Americans are still priced out of buying a vacation home in the U.S. It’s a no-brainer for many of these folks to buy internationally instead, but it is too complex today. The Far Homes team is primed to simplify this process with their deep knowledge of the US real estate consumer and years of experience building partnerships with top-tier local real estate agents and lawyers.”
Far Homes was founded by Kittleson as well as Molly Braeunig, and Max Blumen, each with real estate experience. Kittleson was previously Senior Director of Marketplaces at Redfin. Braeunig created new services and drove growth as Director of Product Marketing & Customer Insights at Redfin. Blumen is another veteran of Redfin as well as Convoy, leading strategic initiatives in growth, operations, and analytics.
Redfin CEO Glenn Kelman said he invested in Far Homes because he believes in the founders:
“These are people who will find a way to win, but what’s just as important is how. These are deeply moral people. Their business will benefit their customers, colleagues and communities, not just themselves and their other shareholders.”
Adam Wiener, President of Real Estate Operations at Redfin – also an investor, said demand for buying and selling homes abroad is only going to grow”
“In so many ways, it is a new world of how people live and work – and where they choose to do it. As more companies embrace fully-remote policies, more buyers are willing to move a little further away from the office, or to another country altogether. It will be exciting to see Far Homes grow in the years to come.”
Kelman and Wiener will also both become strategic advisors for the firm.