Far Homes Raises $2.25 Million Initial Investment
Real Estate Marketplace Far Homes Raises $2.25 Million Initial Investment to Simplify International Home Buying and Selling
Company Will Focus First on Making It Easier to Find, Buy, Own, and Sell Homes in Mexico, with Plans to Expand to Additional Markets
Lack of Multiple Listing Services Outside U.S., Unmet Market Demand Due to U.S. Home Prices., and Rise of “Live and Work Anywhere” Models Driving Surge in Cross-Border Home Purchases and Sales
SEATTLE, WA – Far Homes (farhomes.com), a technology-powered marketplace founded by real estate industry veterans that makes it easier to find, buy, own, and sell homes abroad, announced its launch to help simplify the international home-buying and selling process, and an initial $2.25 million investment round to accelerate the company’s growth.
There is growing demand for buying and selling homes across borders, while inside the U.S., increasing home prices are a barrier to owning a second home in the country. At the same time, the rise of remote work and the “live and work anywhere” model means many more people around the world are considering purchasing homes abroad.
Far Homes online listings portal provides the opportunity to purchase and sell homes in more destinations abroad, concierge support throughout the entire process, and an easier ownership process with vetted, local property management partners. Far Homes is also building a network of English and Spanish-speaking local agents, interested buyers, and prospective sellers.
Far Homes is focusing initially on making it easier to find, buy, sell, and own homes in Mexico, with plans to expand to other countries in the coming years.
“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,” said Chet Kittleson, Cofounder and Chief Executive Officer of Far Homes. “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.”
“The Far Homes team has identified a clear opportunity in the market. 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,” said Ben Gilbert, the Co-Founder and Managing Director of PSL Ventures.
Far Homes was founded in 2022 by real estate industry veterans Chet Kittleson, Molly Braeunig, and Max Blumen. Chief Executive Officer Chet Kittleson is drawing on his deep experience in building and growing real estate marketplaces as Senior Director of Marketplaces at Redfin. Co-founder Molly Braeunig created new services and drove growth as Director of Product Marketing & Customer Insights at Redfin. Co-founder Max Blumen is a veteran of both Redfin and Convoy, leading strategic initiatives in growth, operations and analytics.
“I invested in Far Homes because I believe in Chet, Molly and Max,” said Glenn Kelman, the CEO of Redfin and a strategic advisor and investor in Far Homes. “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.”
“The demand for buying and selling homes abroad is only going to grow in the years and decades ahead,” said Adam Wiener, President of Real Estate Operations at Redfin and a strategic advisor and investor in Far Homes. “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.”
“Looking online for a Mexico beach house to purchase was frustrating, because when I would express interest in a property to the online agent or person listed on the listing, no one would ever get back to me with details. That was not the case with Far Homes,” said Lisa Dasbach of Austin, Texas, a Far Homes customer.
Far Homes initial investment round was led by PSL Ventures. Other notable investors include 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.
Funding from Far Homes’ initial round will help further expand the company’s team and growth opportunities through customer acquisition and other strategic investments.
About Far Homes
Far Homes is a real estate company that is making it easier to find, buy, own and sell homes in destinations internationally in a world where more and more people can live and work anywhere. Founded by real estate industry veterans in 2022, the company is working to simplify the international home-buying experience through a technology-powered marketplace. The company is building a network of local partner agents with experience helping buyers from outside the country navigate the home buying process, and to help buyers own and manage their home once they have the keys. Far Homes is currently serving three markets in Mexico with plans to expand. To learn more and find homes you love, visit farhomes.com.
About Pioneer Square Labs
PSL Ventures is a Seattle-based venture capital fund that invests in early-stage technology companies, primarily based in the Pacific Northwest. PSL Ventures is a part of Pioneer Square Labs, which also operates a startup studio to create and launch new companies with local founders. For more information, visit www.psl.com.