How New Western Built the Largest Investment Marketplace in US Real Estate with Kurt Byers

Real estate is a constantly shifting landscape, and some players are changing the game entirely. One of them is New Western, the largest residential real estate investment marketplace in the US. They’ve helped over 250,000 investors find and flip or hold homes, and they’re operating in 21 states, closing 10,000+ deals a year.

On a recent episode of my podcast, I had the chance to speak with Kurt Byers, the company’s head of business development. I was fascinated by how this company has grown into a national powerhouse and how they’ve managed to create a system that connects investors, agents, and wholesalers with speed and efficiency.

Here’s what we covered during our conversation.

The Origin and Mission of New Western

New Western was born in the aftermath of the 2008 financial crisis. At the time, the traditional real estate model was failing a huge segment of the market—homes that needed work, sellers who needed to move fast, and investors looking for real value.

That gap became an opportunity. New Western stepped in to streamline how distressed properties were sourced, rehabbed, and sold to investors. Over time, they built out a model that worked in one city, then scaled it to dozens.

Now, they’ve become a central player in a space that used to be fragmented and inefficient.

How the Marketplace Works: Agents, Investors, and Wholesalers

Kurt broke down New Western’s entire model for us. Here’s how the company operates:

1. Local agents — Every investor is paired with a licensed local agent who understands that specific market. No algorithms. No sight-unseen buys. This keeps the process real and grounded in local knowledge.

2. Real estate agents (in and out of the company) — Agents don’t have to work for New Western to be part of the network. In fact, they’ve paid over $1 billion in referrals to outside agents in the past two years alone.

3. Wholesalers — These are individuals or small teams who find distressed properties through public records, direct mail, cold calling, and even door-to-door visits. New Western often becomes the buyer for these wholesalers, giving them a reliable exit.

4. Sellers — These are often people who need to move fast or have homes that require significant repairs. New Western’s cash offers and quick closings help get them out of a bind.

This system keeps the wheels turning and lets New Western handle a transaction about every 13 minutes.

Flipping, Holding, and Everything in Between: Who the Investors Are

One thing I asked Kurt was, “Who’s actually buying all these properties?”

The answer: it’s not big institutional firms, but people like you and me.

Most of New Western’s investors are doing 1 to 10 deals per year. Some are flippers, some are long-term landlords, and some are exploring mid-term rentals, like PadSplit.

Many of them are what Kurt calls “corporate refugees”—people who left traditional jobs and started building wealth through real estate. They don’t have time to waste.

The average time it takes to complete a transaction on New Western’s platform? 90 minutes. Yes, minutes.

Why Speed Matters

These investors aren’t browsing listings for fun. They’re ready to move. They calculate after repair value (ARV), rehab costs, holding costs, and profit margins fast. That kind of readiness is what makes New Western’s model possible.

Margins, Market Challenges, and Compliance

New Western typically deals in properties that are 21–25% below the median home price in a given market. That sweet spot allows investors to buy low, invest in rehab, and sell or rent at a profit.

Margins vary. Some deals make $10K, some make $30K or more. In high-priced areas like LA or the Bay Area, the math is different, but the principle holds.

Keeping It Legal

What impressed me most was how seriously New Western takes compliance. With a 10-person legal and compliance team, they make sure contracts, disclosures, and processes meet the unique rules in each state.

That’s especially important in places like California, where new laws pop up every year.

An End-to-End Investment Platform

New Western isn’t just a brokerage. It has built a full ecosystem:

• Brokerages in every state where they operate

• Sherman Bridge, their private lending arm that connects investors to hard money lenders

• A title company to help keep deals clean and moving

• A tech platform built on Salesforce

They may not have the AI bells and whistles of companies like Compass, but they’ve prioritized reliability, consistency, and service. And that’s working!

Learn More About Real Estate Investing

There is so much to learn in real estate. And, things are evolving fast. Whether you're a new agent, an aspiring investor, or just someone who wants to grow your knowledge, keep learning.

Read books. Go to conferences. And of course, listen to real estate podcasts. They’re a goldmine of real-world experience.

Want to hear my entire conversation with Kurt? Listen to our podcast episode! 

Follow REalizations Podcast for More Dynamic Conversations with Real Estate Experts!

Kurt gave us an incredible inside look at how one company can go from a local solution to a national force. His insights are valuable for agents, flippers, wholesalers, and anyone thinking about real estate as a business—not just a transaction.

For more sharp, expert-level conversations with real estate icons, like Kurt, follow REalizations Podcast. 

And, if you’re thinking of buying or selling real estate in the Bay Area, CA, get in touch with me, your trusted local expert in one of the nation’s most dynamic real estate markets! 

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