According to HousingWire, Flyhomes has brought on three new senior executives to strengthen its partnerships with lenders and real estate firms around its buy before you sell platform. Tyler Moynihan, who spent over a decade leading business development at Zillow, is joining as vice president of business development. Nihit Nirmal takes the role of vice president of product, while Wendy Tieu is returning to the company as director of partner enablement. The company is positioning these hires to expand how its platform reaches lenders and real estate organizations.
The buy before you sell model addresses a real pain point for homeowners who are caught between needing to purchase their next home while still holding their current property. Many people struggle to qualify for a new mortgage or access their home's equity when they still technically own another house. Flyhomes' approach helps solve this problem so homeowners don't feel stuck by the complications of the transaction.
These executive additions come right after Flyhomes partnered with Figure to establish financing capable of handling up to $2.4 billion in annual buy before you sell volume as the platform gains traction. The company has also rolled out a redesigned website and Partner Portal to better serve lenders and loan officers, moving away from selling directly to consumers and toward working through wholesale and partner channels instead.
In his new role, Moynihan will focus on building strategic relationships with lenders and real estate companies who already have homeowners wanting to move but feeling trapped by the traditional process. Nirmal will concentrate on product development to make the platform easier for partners to use when evaluating options for their clients. Tieu's work will center on training and supporting partners, helping them recognize situations where the buy before you sell tool can unlock deals that might otherwise stall.
What I am seeing locally here in the Bay Area and across the East Bay is that any tool which helps people move without the traditional contingencies becomes more valuable. We have so many sellers who are nervous about listing, and so many buyers who are frustrated by the inability to act decisively. A platform like this, especially with the backing of real lenders and major real estate partners, could actually start moving some of that stuck inventory and help our clients make decisions with more confidence.
