Flat-fee MLS listing service, beycome, joins the LAB Ventures Startup Studio program
MIAMI, Fla. /Florida Newswire/ — LAB Miami Ventures announced today that Beycome has joined its Startup Studio program, making it the sixth studio company in the studio’s portfolio. Beycome is a flat-fee MLS listing service that is disrupting residential real estate, by helping people to buy or sell a home without needing a real estate agent. The technology behind the Beycome platform brings buyers and sellers together, providing the tools and resources to empower people to be their best DIY agent. The platform offers buyers up to 3% cash back on their purchase and allows sellers to list their properties for a flat-fee, saving them up to 6% in commissions.
Beycome was founded by Nicolas Jodin and Herve Barbera in 2016. When Jodin was selling his first home he realized how difficult it was to avoid expensive estate agents. “I realized almost immediately that hardly anyone was willing to work with a FSBO home,” he recalls. If you’re not familiar with real estate jargon, FSBO is shorthand for ‘For Sale by Owner’, a concept in which homeowners sell their property without the assistance of a real estate agent or broker.
The company has already helped over 7,000 homeowners close deals that saved a combined $48 million in commissions. With a goal of educating homeowners to become their own realtor, the digital service prioritizes service and support over sales. “The main focus of our company is to help homeowners become their own real estate agents. They handle all negotiations and showings themselves, which in turn allows them to get the most out of their sale or rental. Our users closed two weeks faster than the industry average, and that’s proof that the model works.” Says Jodin, who will stay on as the new CEO of Beycome.
Beycome is the first outside company to join LAB Ventures, as the other studio companies were all ideated and built in-house. With the support of LAB Ventures, Jodin plans to consolidate the company’s leadership position in the Florida market, add additional services (including a recent partnership with another LAB Ventures company Expetitle to provide title insurance), and launch in new markets outside of Florida.
“Here’s this really cool startup that had an interesting business model, was getting traction, but needed some strategic direction,” explains Matti Marshak, CEO of the Startup Studio. “Our focus will be on how to scale – with a more direct digital marketing strategy, faster software development, more rigorous internal processes. Once we finish the strategic planning process, we’ll be helping them to raise additional capital to fund the growth strategy.”
“Our studio has been focused on our own internal projects, building startups by helping co-founders with the marketing, software, UX/UI, business development and fundraising activities. Where else can a brand new founder start with an experienced team in all of these areas on day one?” asks Tigre Wenrich, CEO of LAB Ventures. “But we’ve also been looking for existing startups that we can help in our areas of expertise, but until now we haven’t found the critical combination of a visionary entrepreneur, with a great idea, that needed and wanted outside help.”
With so many other firms providing startup support, why did the Beycome team choose LAB Ventures? “It was obvious for me. I first met them at their event, The Future of Real Estate Tech Summit, and as a company their core focus is in PropTech. We wanted a partner who really understands all aspects of the real estate industry. LAB Ventures is building the future of real estate and I think Beycome is the future,” explained Jodin.
“When I met Tigre for the first time, it was actually about the Expetitle partnership. But even in that first meeting, he took the time to really understand the DNA of Beycome. He was enthusiastic and provided very helpful feedback. To me, it’s very important to have the technical aspect of a partnership, but I need to believe in the human aspect of my partners as well. I wholeheartedly trust Matti and Tigre to guide me in leading this new chapter for Beycome and LAB Ventures.”
LAB Ventures is a startup studio based out of Miami, Florida, focused on the proptech sector. Its goal is to build disrupting companies from ideation to scale.
Beycome is a completely digital flat-fee MLS listing platform that enables people to buy and sell homes without a Realtor.
*Photo caption: Matti Marshak joined the LAB Ventures studio back in 2018 and brings an impressive digital marketing, product growth, and business development background, having been a founder himself of the successful Wynwood-based Digital Agency, Pacific54.