Homie, a real estate startup transforming home buying and selling, has raised $23 million in the Series B round. Although those who exactly have invested has not been revealed, with this funding, Homie aims to expand its services to more cities targeting young home buyers and eliminating commission.
Utah and Arizona are the first cities to drop the real estate commission, which is a whopping 6% and heavy paperwork involved in the conventional way of buying homes. Homie is now planning to build a new customer base by offering its services in three new cities. Vegas would be the first venue where it will be launched in March.
At the moment, many real estate businesses provide online services to customers, however, Homie has another way to fulfill customers' needs by employing real estate agents who will help them get the desired home with a lot of transparency without charging any commission.
On the contrary, sellers will get a $1,500 flat fee, which is very low-priced compared to the traditional agent commission. In addition, buyers and sellers will get guaranteed assistance during negotiation.
Homie, co-founder, Johnny Hanna said that the capability of enlarging new markets will be strengthening the organization, and he will be considering Vegas and Dallas for the expansion. Also, he will be looking for a few other places like Boise, Seattle, Colorado Springs, and Nashville.
He further added home buying or selling is a very costly and time-taking process because different companies have a separate workflow. However, Homie makes it hassle-free and customer-centric through the involvement of AI.
Now, the time has come to change everything with the help of technology. Previously, technology was not accessible enough to change the business structure of real estate, but now it is possible.
As per the latest news, Homie is going to introduce its latest services like Homie Loans™, Homie Title™, and Homie Insurance™, all these lead to a streamlined process for users.
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