Home sellers often face many hurdles when putting their homes up for sale. First, there’s the countless renovations — staining that worn-out deck and fence, and re-grouting those loose floor and shower tiles. Second, there’s the ever-present 6 percent commission. Third, there’s the timing issue — home owners wanting to sell often want to buy as well. Where should they live if they sell their current home without buying another?
Centreville resident Nick Ron has found a way around all of these things. The 30-year-old CEO of Chantilly-based MAFC Residential, offers a no hassle, no commission, one-stop service to home selling and buying.
MAFC Residential buys, renovates, and sells a home, taking on the most burdensome aspects of home selling, and freeing up the owners to get on with their lives.
"If you want to move to a bigger and better home," said Ron, "you’re caught in a huge dilemma if you sell your house without finding something else. You’re guaranteed with us. You don’t have to worry about that."
With $1.9 million in revenues in 2001, the company pulled in $14.6 million in 2002, and $54.03 million in 2003. "I want to take it to a billion dollars in the next five years," said Ron.
MAFC Residential began operating in the Northern Virginia area, and expanded to Washington, D.C., in December of 2003 and into Montgomery County last February. In March, the company opened offices in the Virginia Beach and Hampton Road regions. Ron plans to take the company nationwide, with a goal of hitting 27 new markets in the next five years.
Ashburn resident Stephen Russo called MAFC to inquire about selling his previous home in the Lake Ridge division of Woodbridge. Within a week, MAFC made Russo an offer, which he accepted, and sold the house to a new buyer.
"I wanted to move real quick," said Russo, who donated all his furniture to charity.
Russo works at night for the government. "They saved me a lot of sleep," he said.
MAFC RESIDENTIAL, started in 2001 by Ron, operates by buying, renovating, and selling homes in a quick, convenient, and guaranteed process. "We never turn down a house," said Ron. "We will buy in any condition."
Homeowners interested in selling begin the process by contacting the company by phone or through the internet. In as little as a week, the company responds with a guaranteed offer minus the usual 6 percent real estate commission. In addition, the company brings in its SWAT team — construction and home inspection experts — who come in and renovate the house to prepare it for showing. Renovations take place in under 14 days.
"For homeowners, trying to find a good contractor can be a pain, an ordeal, a process," said Ron. We take that burden away from them."
By forging ties with local contractors and providing them with a steady stream of work, MAFC Residential has built a loyal and efficient force of home experts that provide renovations three times as fast and at about half the typical costs of traditional home renovations. "We know how to get things done quickly," said Ron. "The house will be in good shape, and we have a warranty to back that up." MAFC Residential guarantees all renovations for one year.
PURCHASING a home can be a struggle for potential home-buyers, and MAFC Residential is attempting to revolutionize that process as well. "You don’t know what you’re getting typically," said Ron. "We want people to walk into a home and be comforted."
By providing a one-year warranty on all home sales, MAFC Residential tries to offer peace-of-mind. "It’s huge deal to buy a house under warranty," said Ron. "New homebuyers do not want to risk their savings." The company also provides a $150 home inspection report for free, and offers a $500 credit towards a Countrywide home loan.
RON, who previously worked in the software industry, is glad he approached the real estate industry as an outsider. "I’m able to look at it with fresh eyes," he said. "When I looked at the real estate industry, it was way behind the eight-ball in terms of customer support and technology. It’s been done the same way for the last 30 or 40 years."
Since its inception in early 2001, MAFC Residential has experienced a 656 percent growth rate. Selling 22 homes during its first year, the company sold about 250 homes last year, and plans to sell more than 400 this year. "I’m amazed at the rate it’s growing," said Ron.
This May, Ernst & Young named Ron as a finalist for the Ernst & Young Entrepreneur of the Year 2004 Awards in Greater Washington.
MAFC Residential can be contacted at 1-877-USE-MAFC or online at www.mafcresidential.com.