Ribbon, the tech platform for real estate needs, has expanded into Florida, entering with the most competitive offers of owning houses.
With its RibbonCash Offers, a buyer's offer can be turned into all cash and minimize barriers for both the seller and the buyer. Homebuyers from the Sunshine State can make a non-contingent, all-cash offer with Ribbon where they can waive mortgage, appraisal, and home sale contingencies - making the most powerful offers.
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As more and more home sellers are turning to Ribbon and its all-cash offers, its recent Florida entry is expected to drive exponential growth in its products - from seller, agent, and buyers - as it becomes the solution of choice for multiple offer cases. Intended for both existing homeowners and first-time homebuyers, the latest Ribbon expansion marks the platform's commitment toward achievable homeownership, this time for the Sunshine State.
Its entry into the state market could help Florida homeowners and homebuyers. A recent report from Florida Realtors shows that 3,771 single-family homes were bought with cash offers last May 2020. A year later, in May 2021, the number grew threefold to 9,376 - or an increase of 148.6 percent.
"There are immense challenges homebuyers face in Florida's real estate market, but Ribbon aims to ensure they aren't insurmountable," said Ribbon co-founder and CEO Shaival Shah, in a company press release. "Aside from increased interest in home ownership, homebuyers now have to compete against Wall Street investors, turning housing into long-term rentals at the expense of qualified buyers."
He adds that as the company enters Florida, the mission remains to team up with local real estate agents and lenders "to level the playing field" for common buyers against investors and people with high net worth. To this end, Ribbon works with real estate professionals, who are still the key advocates for both buyers and sellers, as well as experts who understand how the local market can meet buyer needs.
"Purchasing a home can be a daunting task, especially in today's market where homes are coming off the market at a rapid pace," shares Kendall Bonner, broker and owner of RE/MAX Capital Realty located in Tampa Florida. She adds that teaming up with Ribbon and allowing RibbonCash Offers for her clients give them the opportunity not just to compete in today's market, but "to win the home they love - the home that fits their life and their needs."
Prior to Florida, Ribbon has been operating in North Carolina, South Carolina, Tennessee, Georgia, and Texas. The real estate platform is poised for a rapid expansion for 2021 and 2022.
About Ribbon
Founded in 2017 in New York and in Charlotte, North Carolina, Ribbon is an online tech platform for real estate that adds "certainty, transparency and joy to the home buying process," pursuant to its mission of making homeownership achievable. It allows ordinary families equal opportunities by transforming their offers to competitive RibbonCash Offers.
As one of the leading real estate technology platforms, Ribbon continues to empower agents, lenders, and brokerages to create a better experience for home sellers and buyers through its unique financial products and accompanying digital workflow software.
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