Knock Home Swap™ Expands to 25 Markets; Now Available Throughout Southern California from Santa Barbara to San Diego
Expansion is company's largest to date, giving homeowners from coast-to-coast the ability to buy their dream home before they list
NEW YORK, March 4, 2021 /PRNewswire/ -- It just got easier for homeowners in the Southern California markets of Bakersfield, Los Angeles, Orange County, Riverside/Palm Springs, Santa Barbara, San Bernardino, San Diego and Ventura to compete and win in today's competitive market. Starting today, they can take advantage of the Knock Home Swap to get pre-funded for a competitively priced mortgage to make a cash-equivalent offer on their dream home before even listing their old house.
Since it was introduced less than eight months ago, the Knock Home Swap has grown to 25 markets in seven states across the country. Today's launch follows Knock's expansion last week into Los Angeles, the nation's largest housing market.
"Knock was founded on the belief that people would buy and sell homes freely if we could remove the stress and uncertainty around the process," said Knock Co-Founder and CEO Sean Black. "Today, five years later, homeowners have more options than ever when it comes to selling a home. However, only the Home Swap provides the ability to make a non-contingent offer to win your dream home and move before listing a house in top-selling condition for the maximum sale price. Consumers and real estate professionals love the certainty, convenience and cost savings offered by the Knock Home Swap, which is fueling our rapid growth. In less than eight months, we've more than tripled our market coverage."
Knock has partnered with more than a half-dozen brokerage firms to bring the Home Swap to Southern California, including The Agency; Berkshire Hathaway HomeServices Perrie Mundy and California Realty; Keller Williams Realty Anaheim Hills/Yorba Linda, N. Tustin and Brea Fullerton; HomeSmart Evergreen; Realty One Group West; Seven Gables Real Estate and Century 21 Award.
"In the midst of Coronavirus and a housing market with ultra-low inventory, many sellers are fearful about the prospects of selling their home and not being able to find a suitable replacement home in time," said Dave Corey, Managing Broker of Berkshire Hathaway HomeServices Perrie Mundy Realty Group and California Realty. "Knock created a solution to this problem with a platform that allows our real estate sales executives to provide their clients more certainty and even more buying power when selling and buying a home at the same time. We are excited to be able to offer this unique solution, and we see it as an important part of our strategy to offer innovative solutions to our clients."
"The Knock Home Swap program is an innovative, yet conservative way to facilitate the home-buying process with much less stress," said Colleen Rogers, Operating Principal of Keller Williams Realty Anaheim Hills/Yorba Linda, N. Tustin. "The Home Swap alleviates the need to be glued to contingencies and the highly stressful timeline to sell their current home and close on their new home all while they are having a smooth experience through this program. We're excited to partner with Knock to provide sellers with a real competitive advantage."
The Knock Home Swap includes a fully-integrated and competitively priced mortgage as well as up to $250,000 in an interest-free bridge loan to cover the down payment on the new home in addition to home prep and up to six months of mortgage payments on the old house.
With the Home Swap, consumers immediately take ownership and begin earning equity in their new home, avoiding the hassles of living through repairs and showings. As part of its Home Prep Concierge, Knock provides access to its approved contractor network and manages the payment of all bills upon client-approved completion of work. Additionally, Knock provides a backup offer on the old house in the unlikely event that it doesn't sell within six months. Ninety percent of Knock homes sell in 90 days or less.
In addition to the eight markets throughout Southern California, the Knock Home Swap is available in Atlanta; Austin, Texas; Charlotte, N.C.; Colorado Springs, Colo.; Dallas-Fort Worth; Denver; Fort Lauderdale, Fla.; Houston; Jacksonville, Fla.; Miami; Orlando, Fla.; Phoenix; Raleigh, N.C.; San Antonio; Tampa, Fla.; Tucson, Ariz. and West Palm Beach, Fla. through more than 120 real estate brokerage firms with nearly 70,000 agents. Knock plans to offer the Home Swap in 75 markets by 2023.
About Knock
Knock is on a mission to empower people to move freely. The Knock Home Swap™ makes it easy for consumers to buy their new dream home before selling their old one, skipping the hassles of living through repairs and showings, paying only one mortgage at a time, and having home prep covered upfront so their old house sells for the highest possible price. Knock currently offers the Home Swap in 25 markets in seven states and plans to nearly double the number of markets it serves in 2021 and be in 75 markets by 2023.
Launched in 2015 by founding team members of Trulia.com, Knock has raised more than $600 million in debt and equity from top tier investors, including RRE Ventures, Foundry Group, Redpoint, Greycroft, Corazon Capital, Correlation Ventures, Great Oaks Venture Capital and FJ Labs.
About Berkshire Hathaway HomeServices Perrie Mundy Realty Group and California Realty
Berkshire Hathaway HomeServices Perrie Mundy Realty Group and California Realty has 4 offices and over 320 agents in the Inland Empire area of southern California. With sales of over $435 million in 2020 and over 1,000 closed sides, BHHS Perrie Mundy Realty Group and California Realty has grown over 300% in the last 2 years and enjoys the #1 market share position in the luxury market in Redlands, CA where its headquarters is located.
About Keller Williams Realty Anaheim Hills/Yorba Linda, N. Tustin and Brea Fullerton
Founded in 2011, Keller Williams Realty Anaheim Hills/Yorba Linda, N. Tustin and Brea Fullerton are among the top producing firms in Southern California. The organization's 700+ agents provide a full range of residential and commercial real estate services to clients throughout the region, including Orange, Los Angeles and Riverside counties.
Media contact: [email protected]
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