Salt Lake City and Phoenix—Homie, the new-way real estate brokerage, opened its second market today in Phoenix, Arizona. Homie real estate services were previously available only in the state of Utah. With this market expansion, Homie plans to save Arizona home sellers $10,000 per real estate transaction on average, just as it has done in Utah.
Homie launched in Utah in 2015 as a technology platform and has become the top listing brokerage in the state—with more unique listings than any other Utah brokerage in 2017. The Phoenix metro area was selected for the expansion because of its market size and seasonality.
Homie defies traditional real estate business models. Rather than working with a single agent, Homie customers are assigned a team of specialists, which allows them to receive expert help at each transaction stage while enjoying savings on both the buyer and seller side. Homie sellers pay a low flat fee of $1,498 to list—usually a fraction of the typical 6 percent commission—and buyers receive Homie services for free. In addition, Homie buyers can qualify for a refund of up to $5,000 on homes with a buyer agent commission.
“Homie’s motto is ‘We’ve got your back.’ To deliver on that promise in our Utah market, we combined technology with personalized service—providing customers with a simpler, more transparent process and some pretty dramatic savings,” said Johnny Hanna, Homie CEO and co-founder. “Our customers used the technology to handle much of the transaction themselves and they loved the savings. But they also wanted some hand-holding to make it through tricky negotiations, contracts, and closings. I’m excited to now share this model with home buyers and sellers in Phoenix.”
Homie has plans to launch additional service areas in 2018, focusing on locations where residents want to save money, keep transactions as transparent as possible, and benefit from expert assistance throughout the process.