Abodewell is an iBuyer service that purchases homes from sellers, makes small improvements, and then sells them at a premium. Abodewell also offers trade up broker services that help sellers buy their new home before selling their current one.
Sellers submit their address to Abodewell, and Abodewell uses its internal valuation models to make an offer within a day. If the seller accepts, Abodewell schedules a home inspection that results in itemized repairs which Abodewell or the owner will fix depending on the owner's preference. After repairs are completed, Abodewell will then purchase the home from the seller, make any necessary improvements, list the home for sale, and sell the home to a new buyer.
Abodewell charges a 6% service fee and a 0-6% market risk fee depending on how attractive or risky the market is. Abodewell also charges the seller for any repairs required to sell the home.
Abodewell primarily generates revenue through service fees on each home sale. Abodewell can also make money on the price appreciation that occurs at the time of the home purchase and the time of sale.
Abodewell is privately held. Abodewell was previously called Amne.
Abodewell employs agents as full-time employees. As a result, agents are paid a salary and smaller sales commission by the brokerage rather than being paid entirely based on sharing commissions via a traditional commission split.
Abodewell employs agents as full-time employees rather than independent contractors.