Real estate tech firm says it will use increase on new marketing channels and product changes while critic says high referral fees lead agents to inflate commissions, skimp on service
Calling it a 'kickback scheme,' HomeOpenly owner Dmitry Shkipin told the FHFA to ban referral fees charged by online brokerages — including Zillow — that don't actually buy and sell property
The company, valued at $2B as of August 2021, has reduced its employee count by 40 people, the latest in a run of real estate companies that have enacted layoffs
Less than 2 months after layoffs, the power buyer is now in 17 states and says it's still on track to meet a goal of being operational in half of the US by the end of the year
The Michigan-based and third-largest wholesale mortgage lender aims to cut costs by more than $100M a year in response to an 'extremely challenging' lending environment
Knock and HomeLight CEOs are witnessing a sea change as the market shifts, but they said that doesn't necessarily mean buyer and seller appetites for cash offers will change anytime soon
Mortgage, proptech, investment and property management companies ranked high among Inc.'s annual list of the fastest growing US companies, including names like Orchard and Ribbon
While funding may be scarce for real estate startups, Power Buyers Knock and HomeLight CEOs Sean Black and Drew Uher said at Inman Connect, they aren't having trouble securing capital
After expanding into 8 new states and more than doubling its market footprint this year, the Power Buyer is laying off 136 employees in search of an 'achievable path to profitability'
HomeLight announced on June 29 that it planned to cut an unspecified number of jobs. Uher is confident in Power Buying and shares his views ahead of Inman Connect Las Vegas
The layoffs come after a rapid expansion into new markets including Texas, Colorado and Idaho following a $150M Series C funding round
Rising mortgage rates are prompting some lenders to downsize to adapt to changing market conditions. But the market shift is also expected to drive mergers and acquisitions
Already in 17 markets, the alternative sales platform secured $10M in a Series A round led by M13 and Homebrew. It's the second flat-fee or discount service to earn financing this month
The company announced job cuts Wednesday, saying it needed to focus on growing in a 'sustainable way.' Numerous other companies have also cut jobs as the housing market shifts
Knock co-founder and CEO Sean Black shares his views on how rising home prices and mortgage rates could affect Power Buyers ahead of Inman Connect Las Vegas