Unlisted Pre-Matches Home Sellers With Buyers Before Listing

For homeowners contemplating a future sale and prospective buyers hoping to find their ideal property before it hits the open market, Unlisted offers a unique platform that connects interested parties long before a “For Sale” sign appears. This innovative approach transforms casual neighborhood interest into actionable opportunities, bridging a critical gap in the real estate process.

Katie Hill’s personal experience sparked the creation of her startup, Unlisted Homes. She envisioned herself enjoying retirement by a pool, and when she noticed her neighbor’s house had exactly that, she took a chance. During a casual chat while he was mowing the lawn, she expressed her interest in buying his home if he ever decided to sell. To her surprise, he revealed he was starting to think about retirement and was genuinely interested. This conversation led to an informal right of first refusal, ensuring Hill would get the chance to purchase the property before anyone else.

That moment of neighborly negotiation made Hill wonder how many other people in similar situations wished for a way to express interest in a home not officially for sale. She realized there was a significant unmet need in the market. Unlisted functions similarly to major real estate websites but focuses exclusively on properties not currently listed. The platform has now expanded from a web-only service to include a newly launched iOS application.

The system leverages public records for over 21 million homes, creating a detailed profile for each one. These profiles contain the kind of information typically found on any real estate listings site. A key feature is the waitlist option. Buyers who admire a particular home can add themselves to a waiting list, directly signaling their interest to the homeowner. Unlisted then notifies the property owner that a waitlist exists for their home and directs them back to the platform to view the details.

From that point, homeowners have the ability to update their property’s information, add more photos or details, and even initiate conversations with the potential buyers on the waitlist. The company’s vision is not to become a transaction facilitator, as those services are already widely available. Instead, Unlisted plans to generate revenue through a sponsorship model. Real estate agents can purchase sponsorships for specific ZIP codes, and their contact information will be featured as the local expert on every home profile within that area.

Looking ahead, the company aims to connect local homeowners with various services they might need, such as roofers or electricians. Hill emphasizes that while Unlisted is a national platform, real estate is inherently local, so linking people to community resources is a core part of their mission. So far, real estate agents have been the primary partners, but the company recently welcomed its first mortgage company onto the platform.

The waitlist feature, introduced in June, has already proven remarkably successful. It has generated waitlists for 5,700 homes, representing roughly $4 billion in potential real estate transactions. Hill credits much of this early traction to invaluable mentorship. After hearing Kayak co-founder Paul English on a podcast, she reached out with an early pitch deck. He was intrigued and connected her with Bill O’Donnell, Kayak’s former chief architect, who subsequently became an angel investor and board member for Unlisted. Their extensive experience in building and scaling a multi-billion dollar company has been an incredible asset.

Hill founded the company in 2022, initially working on it during nights and weekends with a single engineer. Her dedication allowed her to transition to working on Unlisted full-time. The startup has raised nearly $1 million from angel investors and, last November, secured an additional $2.25 million in a funding round led by HearstLab, an organization that supports early-stage companies founded by women.

(Source: TechCrunch)