Real estate startup Homie plans to expand to more cities with $23 million in Series B funding

TechCrunch | February 04, 2020

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 estate agents who will help them through the process but who don’t take a commission. 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 U.S. government may see these fees as archaic and unjustified as well.

Spotlight

Getting started in real estate is one of the easiest things to do, which makes the shock all that more profound when you realize how daunting it is to build a sustainable business and not fail.

Spotlight

Getting started in real estate is one of the easiest things to do, which makes the shock all that more profound when you realize how daunting it is to build a sustainable business and not fail.

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Houston's Welcome Group Enters South Carolina with Acquisition of Moncks Corner Industrial Property

Welcome Group | February 15, 2022

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REAL ESTATE INVESTMENT

Sotheby's And Realogy Form Strategic Partnership In Joint Acquisition Of Concierge Auctions

Realogy Holdings Corp. | November 18, 2021

Sotheby's, the world's premier destination for fine art and luxury goods, and Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, today announced the acquisition of Concierge Auctions, the leading global luxury real estate auction marketplace. Under the terms of the agreement, Sotheby's and Realogy will take a joint 80% ownership stake in Concierge Auctions, while company co-founders Chad Roffers and Laura Brady will remain President and Chief Executive Officer, respectively. Concierge Auctions will operate independently, continuing to partner with real estate agents affiliated with many of the industry's leading brokerages to host luxury online auctions for clients. A newly formed Board of Managers will be made up of Sotheby's and Realogy executives and chaired by Philip White, CEO and President of Sotheby's International Realty, a Realogy brand. Financial terms were not disclosed. 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LMC Announces Start of Preleasing at Odin Apartments

prnewswire | October 01, 2020

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