HomeLister, an online home selling platform providing a better home buying-and-selling experience at a flat affordable fee, almost didn’t launch. Good lawyers and investors helped them persevere.
"Real estate works differently everywhere," said McLean."It's very complex." With her background in building complicated e-commerce systems and real estate development, she thought a platform that automated administrative tasks and provided expert help with pricing could be developed.
In 2015, the pair started working together on HomeLister. McLean is cofounder and CEO, and Stein is cofounder and general counsel. The unique expertise of both founders made them a very credible founding team and they were able to raise seed capital from investors in the real estate industry. Having the right lawyers from the get-go would probably have nipped the suit in the bud, but hindsight is 20/20. Unfortunately, the original legal team took a conciliatory approach and didn't push back against the real estate firm suing HomeLister. When an adversary is unreasonable, it's best to have lawyers who can push back hard.
Importantly, their investors not only stood by them and provided advice, but some also helped fund legal fees. Prior to accepting capital from investors, McLean did due diligence on them. Vetting included speaking with portfolio companies that had been through difficult times to find out if the investor stuck by their startups.
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