A Utah-based flat-fee brokerage known for its offbeat marketing wants to raise $10 million in a new funding round, according to newly filed financial documents.

The U.S. Securities and Exchange Commission documents indicate that Homie has already raised about $2.3 million out of its new $10 million offering. The documents were filed on Jan. 15 and indicate that Homie expects the new fundraising round to last less than one year.

Homie launched in 2015 and carried out three rounds of fundraising over the ensuing months. According to Crunchbase, the total haul from those rounds was about $8.3 million.

In 2017, Homie indicated it wanted to raise another $10 million, with CEO Johnny Hanna saying at the time that he “would like to raise as much as humanly possible.”

This latest round of fundraising appears to move the company in that direction, though multiple Homie executives did not respond to Inman’s request for comment Wednesday on what lies ahead.

If the past is prelude, however, it’s reasonable to expect both expansion and some cheeky marketing efforts from the company. Homie’s pitch is that it can save consumers thousands, and it charges a flat $1,500 listing fee for sellers who choose the company over traditional agents.

For buyers using the company, Homie refunds commissions up to $5,000. The company claims to have saved consumers a total of about $34.4 million.

Credit: Homie/Facebook

Homie’s flat-fee strategy has helped it grow on its home turf in Utah — where it currently has a string of movie-themed billboards — and it now operates in Arizona as well.

However, the company is perhaps best known for a mock-political campaign it ran in the Phoenix area last year. The marketing stunt involved distributing posters that encouraged people to “Vote for Homie” and included a website called HomieForSenate.com.

A “campaign” image from Homie’s Arizona marketing push last year. Credit: Homie

The ads eventually led to an investigation by Arizona Attorney General Mark Brnovich that concluded the company misled voters. In November, Homie entered an agreement with the attorney general to not “advertise itself as a candidate for any office.”

Though Homie won’t be trying that exact same advertising strategy again, chief marketing officer Joe Grover told Inman last year that it was a “really, really effective campaign.” And he indicated that similarly “creative and disruptive” marketing is part of Homie’s style.

If the company is able to raise another $10 million, then, consumers should probably expect to see more irreverent ads.

Email Jim Dalrymple II

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription