Topics Discussed and Key Points:
- The motivation to create Mom’s House
- How Mom’s House’s certified home buyers save families’ time and money
- Growing the Mom’s House network of home buyers and senior living communities
In today’s episode, Debbie speaks with Ben Rao, Co-Founder of Mom’s House, a platform which connects certified home buyers with families who are in the process of selling their senior parent’s house. Mom’s House is known today as “the nation’s largest senior home buyer network”.
At some point during Ben’s career as a real estate investor, he got connected to the founders of Family Solutions for Care, which “indoctrinated” him into the senior space. He realized through this partnership that it is a common problem among families to not have the support of an insurance company as they look to enter a care community. It so happened that Ben was also connected with a real estate investor focused on the senior space, who did over 50 transactions a year through referrals alone. The two teamed up to discuss how to fill this gap in the market, leading to the founding of Mom’s House.
Many families lack the resources and knowledge to get a house listed when it is time for their senior members to move into a care community. Hiring a real estate agent is often their only option, and even in this case it takes around four to six months to finally sell the house. That is, if the family is able to shoulder unexpected expenses and prepare for potential delays throughout those months. Mom’s House changes the game by connecting home buyers certified by the company around the country to these families. Buyers then make an offer to buy the house for cash and close the deal in less than 30 days.