Homeowners in 49 markets across the country now have the advantage of buying their dream home with a non-contingent offer before they sell, giving them the upper hand in today’s hot housing market
NEW YORK (JUNE 17, 2021) — Knock, the real estate technology company that is bringing convenience, certainty and cost savings to the process of buying and selling homes, today announced a significant expansion in Florida, giving homeowners in nine additional markets, including Naples and Fort Myers, the ability to make a non-contingent offer and close on their new dream home before even listing their old house.
Since launching the Home Swap in Florida in October 2020, Knock has partnered with more than 40 brokerages to allow nearly all homeowners living in the Sunshine State to buy before they sell. With today’s announcement, the Knock Home Swap is available in 49 markets in 10 states coast-to-coast, including 14 Florida metros: Daytona Beach; Fort Myers; Jacksonville; Lakeland; Miami/Fort Lauderdale; Melbourne; Naples; Orlando; Port St. Lucie; Punta Gorda; Sarasota; Tampa; Vero Beach and West Palm Beach.
“Buying a home when you have one to sell is never easy. In the current housing market where there are a limited number of homes for sale and the competition is high, many people are choosing to stay put rather than realize their dream of a new home,” said Knock Co-Founder and CEO Sean Black. “At Knock, we are leveraging technology to flip the process, allowing homeowners to make a non-contingent offer on the home they want before they even list their current house. It’s given thousands of homeowners the confidence they need to make the move that’s right for them, and we’re excited to make the Home Swap available throughout the state of Florida.”
The Knock Home Swap offers homeowners an end-to-end solution that includes a competitively priced mortgage and an interest-free bridge loan, which covers the down payment on the new home, home prep and up to six months of mortgage payments on the old house. A homeowner can qualify for the Knock Home Swap from their mobile device and then confidently shop for the home they want with their own agent by their side and in the app. In addition, they have the advantage of waiting to prep and list their home on the open market for the maximum sale price after they have moved, so there’s no living through repairs and showings or selling for less than full value.
As part of its Home Prep Concierge, Knock provides access to its approved contractor network and manages the payment of client-approved work until closing. Additionally, Knock provides a backup offer on the old house in the unlikely event that it doesn’t sell within six months. Ninety-nine percent of Knock homes sell in 90 days or less, with 83 percent selling in 30 days or less.
Tiffany Stokes and her husband had been planning to buy a larger house this year, but quickly realized just how competitive the Orlando, Fla., housing market is once they began looking. The couple learned about the Knock Home Swap from their agent, Melanie Thomas of eXp Realty.
“Without the Home Swap, our purchase would have been contingent on the sale of our old house, and in today’s market, sellers aren’t accepting contingent offers,” Stokes said. “The Home Swap allowed us to be competitive and it alleviated the stress associated with
buying and selling at the same time. We were able to buy our new home, and now that we’ve closed we can begin the process of prepping and listing our old house. It’s just so much more convenient.”
As part of its expansion, Knock is partnering with Keller Williams Realty Fort Myers & The Islands; Keller Williams Realty Naples; Keller Williams Realty Suncoast; Keller Williams Realty Island Life Real Estate; RE/MAX Alliance Group; Better Homes and Gardens Synergy; Keller Williams Realty Port St. Lucie; Keller Williams Realty Vero Beach and Keller Williams Realty Treasure Coast.
“In today’s competitive market, some homeowners are afraid to list their home because they’re not sure they’ll be able to find a new one,” said Mark Olesh, Regional Director, Keller Williams South Florida Region and Operating Principal of Keller Williams Realty Fort Myers & The Islands. “Since the Knock Home Swap allows you to buy first, you have the time you need to find the home you dream about, and then sell your home for the maximum price. Homeowners have the upper hand.”
Nationwide, the Knock Home Swap is available through 215 real estate brokerage firms with 90,000 agents in approximately 4,100 ZIP codes throughout Arizona; Southern California; Colorado; Florida; Georgia; Minnesota; North Carolina; South Carolina; Tennessee and Texas.
Knock plans to offer the Home Swap in over 100 markets by 2023.
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 49 markets in 10 states and plans to be in over 100 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.