INSUBCONTINENT EXCLUSIVE:
Homie has made an impression among younger, first-time home buyers in the Utah and Arizona markets for cutting out the traditional closing
costs, 6% real estate commissions and arduous paperwork associated with traditional home sales
It now plans to explore opening up in three new markets and will begin a Vegas launch in March with a fresh infusion of $23 million in
Series B equity financing.While most real estate outfits now cater to customers online, Homie takes a different approach, employing real
Instead, sellers get a $1,500 flat fee and buyers and sellers are guaranteed built-in attorney assistance for the negotiation process.The 6%
traditional commission associated with the home-buying process has been around for decades
However, it has also come under fire from the Department of Justice, which recently disagreed with a motion from the National Association of
Realtors to dismiss several civil lawsuits lobbied against the organization
The move hints that the United States government may see these fees as archaic and unjustified, as well.How do traditional agents feel
about a proposed loss of commission? Those outside of Homie A Technology News Room spoke to on anonymity have said it often takes more work
with less pay to close a deal this way
However, that structure seems to resonate with Homie users
Through Homie, the company claims to have saved over $55 million in commissions, with a revenue growth of 150% over the past year
This bodes well for the company, if true.The ability to expand is also a possibly good marker for the health of the company
other places we could see Homie pop up in the next year include Boise, Seattle, Colorado Springs and Nashville.The other new news out of
We are disrupting the traditional model and saving customers thousands of dollars by combining technology, a team of experts, and a
one-stop-shop for real estate
Technology has changed everything except the real estate business model
