Fypio Aims at Online Real Estate Industry with Buyer-Centric Focus

7/22/14Follow @bvbigelow

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social and interactive features, what’s to prevent them from “big-footing” Fypio through their own respective platforms?

“There are aspects of our business that they will want to do,” Koh concedes. “But they can’t adopt our whole vision.

“For them, it’s all about putting the property and the Realtor first,” Koh explains. “Their whole business model is based on selling to Realtors. It’s ‘you pay us to host your listings, and we bring you the buyers.’”

At Fypio, Koh says, “It’s all about the buyer. Our approach is geared toward the buyers, and getting to understand what’s important to them.”

Koh anticipates that Fypio will eventually make money by generating leads on active homebuyers to real estate brokers.

Michael Koh

Michael Koh

For the time being, however, he says he wants to build Fypio’s user base, and get consumers to use the free mobile app. “Right now, I’m not as focused on monetization because there’s a lot of ways to make money—lead generation, home insurance, mortgage.”

After founding Fypio last year, Koh says they raised $1 million in seed funding from friends and family, with Koh and Kvasnic each investing $100,000 of their own money. In recent months, Koh has been meeting with angel investors and venture capital firms to raise another $1 million needed to build out the company, and to extend their technology to the iPad, Android, and other operating systems.

In the end, Koh isn’t so brash as to assert that Fypio will disrupt the online real estate industry. “We’re just helping you find properties based on what’s important to you, and then we give you information about what your life would be like,” he says. Still, it seems like he has a pretty clear sense of what he expects life to be like for Fypio.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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  • Thea WD

    Brilliant idea. Nice to to see technology heading in this direction. Looks like a great tool for buyers and agents a like.

  • Dave

    I live in Florida and will look for fypio when it becomes available locally. As a buyer, I’m much in need of a search engine that sorts and tabulates my preferences. Fypio should save me and my agent much time and effort as it will streamline the agent’s familiarization with my needs. Also, I’m excited to learn about fypio’s itunes-like tool for generating suggestions from the user’s preferences-this is another shortcut for the buyer. From what I’ve seen, fypio will completely revamp the house-hunting experience (I certainly hope so!).

  • Mojo

    Fypio is intuitive and fresh and provides all the data that I need to narrow my search to the property that is relevant to me, my family and lifestyle.

  • Edward

    This is such a nifty
    app – I’ve been using it for a while now and I like the fact that I can see all
    the information related to a property and its surrounding areas that am
    interested in at once. I can see all the details am looking for based on my
    lifestyle search criteria – this is what’s missing on most real-estate sites. I
    can group my favorite listings into ‘collections’ and compare them or share
    them with family and friends. Intuitive, easy to use and you have all the info
    you need on a single page. No need to navigate to another site to get
    additional information.

  • Greg

    Great
    idea. I especially like the ability to automatically correlate
    preferences within your social network, which should e.g make the process of
    coming to consensus between spouses more efficient and less
    contentious.

  • Guest

    Downloaded and played around with it a bit. The UI is quite different than any of the other real estate apps out there in a good way. The whole “start with your lifestyle” first approach does seem like an obvious no brainer like most good ideas are in hindsight. Will be curious to see where this thing goes as it develops

  • Guest

    My fiancee and I have been using this app for a while now and the entire “buyer centric” approach is exactly what’s been missing from the current crop of mobile real estate apps. What’s especially appealing is the detailed breakdown of the social demographics of neighborhoods we’ve been considering and being able to access all of this information from one resource has been incredibly helpful. In addition, the ability to compare/contrast different properties by individual living spaces and then share what we like with each other has been an eye opener in relation to how we were sharing notes before- like the saying goes, a picture is worth a thousand words.

  • Guest

    My fiancee and I have been using this app for a while now and the entire “buyer centric” approach is exactly what’s been missing from the current crop of mobile real estate apps. What’s especially appealing is the detailed breakdown of the social demographics of neighborhoods we’ve been considering and being able to access all of this information from one resource has been incredibly helpful. In addition, the ability to compare/contrast different properties by individual living spaces and then share what we like with each other has been an eye opener in relation to how we were sharing notes before- Like they say, a picture is worth a thousand words.

  • Ian Heidt

    Cool app that lets you search for homes by the things that matter most … Neighborhood makeup, cool kitchen, demographics.

  • Brian

    This app really takes home discovery to the next level – information is everything when choosing an area to live or invest in – I love what i am able to get out of this easy to use application.

  • Snowy

    Nice post…….your content is quit attractive as it contain some unique information so I would like to know more about your article. Thanks! http://www.lefrois.com/

  • Jason Randell

    Brilliant App! Very Promising Team!