Co-Founded by Former Zillow Executives Spencer Rascoff and Austin Allison, Pacaso will Provide New Opportunities for Second-Home Buyers
(December 23, 2020) – Pacaso is the latest company to become a corporate member and partner of the LGBTQ+ Real Estate Alliance, demonstrating Pacaso’s commitment to elevating and empowering the LGBTQ+ real estate community. Pacaso will also work with the Alliance to highlight professional and second home ownership opportunities for its members.
Pacaso, which launched in October, was co-founded by former Zillow executives Spencer Rascoff and Austin Allison to modernize the generation-old practice of real estate co-ownership by creating a marketplace that makes it simple to buy and sell shares of a second home.
“We’re thrilled to partner with Pacaso and introduce Alliance agents to the best of the best second home co-ownership listings,” said Ryan Weyandt, CEO of the LBGTQ+ Real Estate Alliance. “This is innovation at its finest and a bona fide opportunity for our members to showcase new opportunities in second home ownership that can allow a client’s dream to become reality.”
Pacaso, which currently operates in 25 markets across 10 states, partners with real estate agents to help buyers co-own real estate. All Pacaso homes are set up in a professionally managed LLC uniquely designed for co-ownership. The buyer will purchase their desired share — for example, one eighth or one fourth of the home, which will guarantee them access to the home for that portion of the year. After closing, Pacaso will manage the property, and owners will use Pacaso’s mobile app for scheduling, bill pay and more. Buyers will pay a 10 percent fee at the time of purchase, and then will pay an annual LLC management fee equal to 1 percent of the purchase price. Pacaso offers full buyer and seller commission.
“For Pacaso, enriching lives by making second home ownership more accessible is core to our mission”, said Austin Allison, co-founder and CEO. “Pacaso is proud to join the LGBTQ+ Real Estate Alliance as a corporate member and partner, and support their work to elevate, empower and advocate for the LGBTQ+ community, both in the housing market and in our society.”
The LGBTQ+ Real Estate Alliance was founded in June 2020 as an all-inclusive organization and currently has more than 70 chapters in the United States and Puerto Rico.
About The LGBTQ+ Real Estate Alliance
The LGBTQ+ Real Estate Alliance is a 501(c)6 non-profit dedicated to empowering the LGBTQ+ community on the path to homeownership as we also advocate on behalf of the community on housing issues. The Alliance, founded in June 2020, is an all-inclusive organization that works to improve the professional lives of its members through a public-facing Alliance Referral Community. The Alliance began accepting members in October 2020 and has more than 70 chapters in the U.S. and Puerto Rico. For more information visit realestatealliance.org.
Pacaso™ (pronounced like “Picasso”) creates a more accessible category of second-home ownership by building a marketplace around co-owning a second home through a property-specific LLC, and reduces the cost and hassle of ownership. Pacaso manages the property and uses proprietary technology to make scheduling easy. Pacaso was founded by Zillow executives, including co-founder and former CEO Spencer Rascoff and founder and former CEO of dotloop, Austin Allison.