Founded in Toronto in 2021, Zown simplifies home buying and selling in Canada by guiding users through the process end-to-end, from pre-qualification to closing, with a mission to increase the accessibility of homeownership.
“Homeownership has long been a cornerstone of building wealth,” says cofounder Rishard Rameez. “Yet for many Canadians, it feels increasingly out of reach.”
Rameez, who serves his startup as chief executive officer, says Zown is “committed to addressing these challenges by providing innovative products and services that simplify the process and empower Canadians at every stage of their journey.”
“With the right tools and support, we believe homeownership can be a realistic and achievable goal for everyone,” the entrepreneur stated.
The tech-forward real estate firm, which became a brokerage in 2023, this month unveiled new products as well as a new partnership.
The partnership is with Cedar, a prop-tech firm with a novel business model oriented around leasehold property. Cedar (not to be confused with Pine) purchases land beneath homes, thereby reducing upfront costs and financial barriers for homebuyers.
Individuals and families can own a home while leasing land from Cedar for up to 99 years, with an option to purchase the land.
“At Cedar, we believe that homeownership should be accessible to everyone, and our innovative leasehold model is designed to make that vision a reality,” said Patrick Lee, who heads Cedar’s Canadian operations. “By separating the cost of the land from the home itself, we lower the financial barriers that have made homeownership out of reach for so many Canadians.”
In response to Canada’s pressing housing affordability crisis, Zown is partnering exclusively with Cedar in Canada.
“Our partnership with Zown is a critical step toward helping more Canadians, especially those struggling with high down payments and rising home prices, take the first step toward homeownership,” stated Lee.
When Zown represents as a realtor, the firm returns up to 80% of the seller’s commission upfront, providing a financial boost toward a buyer’s down payment. Paired with Zown’s Down Payment Boost program, Cedar’s leasehold model enables home buyers to purchase a home with 0% of their own money down.
In addition to its collaboration with Cedar, Zown also revealed a budgeting app and a home-buying app.
Zown’s budgeting app, slated to launch later this year, gamifies the journey of saving up for homeownership, providing visibility for Canadians on their progress. The app is designed to help prospective home buyers set goals, track progress against a personalized budget, and celebrate milestones.
The startup’s home-buying app, now available, offers AI-powered property hunting and valuation tools, and also enables users to schedule showings “in minutes,” as well as pre-qualify for mortgages.
Over the last year, Zown has completed over $100 million in transactional volume and provided over $3 million in down payment assistance to help more than 200 Canadians become homeowners.
By 2026, Zown aims to help more than 1,000 Canadians buy a home.
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