We had the good fortune of connecting with Eric Chebil and we’ve shared our conversation below.
Hi Eric, is your business focused on helping the community? If so, how?
Absolutely our mission to help everyone become a homeowner. At Cher®, we believe everyone at all stages of life should have the choice of achieving homeownership and to build equity to become financially independent. Whether buying a home is for financial reasons, a change in lifestyle, or wanting more space for a family, we have created a free software for homebuyers to access all resources and tools to make your dream home shared and simple.
Cher® provides the first online marketplace for anyone to own partial equity in residential real estate. Whether it be co-living or co-investing, Cher® has the process for both. This includes a whole new opportunity for real estate agents. We are creating a reality of affordable housing, together. Buying homes with friends and family made simple.
Alright, so for those in our community who might not be familiar with your business, can you tell us more?
Did you now it takes 14 years for someone starting out of college earning $60,000 per year with 10% increases in salary every year to be able to afford the average home price of $700,000 with no debt, ever? We are here to change and totally disrupt the housing market. We save you time and money with our marketplace while taking aways the headaches of co-owning like finding the same lender, finding an agent, who to co-own with, property management problems, and how to sell your partial ownership.
How did Cher get to where it was today?
At Cher we believe if you are part of our journey, you’re part of the Cher Family. There is no wrong idea at our company and we have been fortunate enough to find a hardworking, passionate and highly skilled group of professionals that are making Cher possible.
It started first with family. My older sister and her husband who are both attorneys bought their first home with the help of my mother. If high earning professionals can’t afford the average home price, I knew the rest of the working class living in metropolitan areas were doomed. I posted on Craigslist to learn if anyone was interested in buying a home with me. I shared a few million dollar homes along with my approximate credit score. Within hours, there were dozens of buyers from all different professions wanting to co-own with me. I knew we had something and we started building from our prototype, to our alpha, then our beta which is live now at www.cher.app.
When we first launched our marketing campaign, we generated a tremendous amount of buyer sign ups surging past 50,000 accounts for about 10% of the cost to larger competitors. We then gained recognition from National Association of Realtors, Palo Alto conferences such as SVOD, CBS, and other publications.
Listen to your heart no matter what others tell you. Be adaptable to change and never be afraid to chase your dreams no matter how large of an impact you want to make.
As an immigrant from Canada and first generation American along with citizenship to Lithuania/EU, Eric graduated University of Washington with a BS in Construction Engineering, double minoring in Architecture and Finance. Prior he was on the U.S. national rowing team and understands firsthand what it takes to overcome challenges and teamwork. Eric has over 10 Years of experience in real estate including managing teams and projects while working for top global general contractors including Kiewit and Swinerton Builders, and brokering real estate homes at Christie’s International and mortgage loan originations at Chebil Realty. Background in the fields of engineering, general contracting, construction management, and green building consulting. Credentials include a California Bureau of Real Estate Broker’s license, mortgage loan originator’s license and certification of LEED AP BD+C status. Previously has founded Chebil Realty managing several Realtors, Eric understands and lives in the housing crisis firsthand in LA.
Any places to eat or things to do that you can share with our readers? If they have a friend visiting town, what are some spots they could take them to?
Marina Del Rey has terrific sea life and is always peaceful. Shoutout is all about shouting out others who you feel deserve additional recognition and exposure. Who would you like to shoutout?
Cher would not be where we are today without the incredible staff working tirelessly to make homeownership a reality for the working class. Paul Hoare, Russell Joyner, Matt Wilson, Eric Brenner, Abby Li, Nathan Littlejohn, Henry Porche, Will Adams, Kieran Hannon, along with friends, family, angel investors, and our institutional investors Mucker Labs and Queen City Fintech.