NEW YORK (Nov. 19, 2020) — Starting today, homeowners in Charlotte and Raleigh, N.C., can use the Knock Home Swap to shop with confidence to purchase their new home before selling their old one.
The Knock Home Swap brings certainty, convenience and cost savings to home sellers who are also homebuyers by empowering them to make a non-contingent offer on the home they want and move before preparing and listing their old house for sale for the highest possible price.
“We couldn’t be more excited to bring the Home Swap to Charlotte and Raleigh, two of our original Home Trade-In markets,” said Knock Co-Founder & CEO Sean Black. “Like the Home Trade-In, the Home Swap allows consumers to unlock the equity in their current house to buy their dream home and move on their terms. The Home Swap offers the advantage of additional cost savings, more funds to make needed home repairs to ensure the old house sells for top dollar and the ability to work with your own agent.”
With today’s launch, the Home Swap is available in a total of 11 markets in six states. In addition to Charlotte and Raleigh, consumers can use the Home Swap to buy before they sell in Phoenix, Denver, Atlanta, Orlando, Tampa, Austin, Dallas/Fort Worth, Houston and San Antonio through more than 40 brokerage firms with more than 27,000 agents. The company plans to expand to at least 21 markets by mid-2021.
Offered through local real estate professionals who have been trained as Knock Certified Agents, the Knock Home Swap provides a fully integrated and competitively priced mortgage, an interest-free bridge loan to cover the down payment on the new home as well as mortgage payments and up to $25,000 for home prep and repairs on the old house.
With the Home Swap, consumers immediately take ownership and begin earning equity in their new home. Once settled, they are able to prep and repair their old house so they can sell it for the highest possible price. 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.
Knock is partnering with Better Homes & Gardens Real Estate Paracle, Wilkinson ERA Real Estate and ERA Live Moore to enable homeowners in the Charlotte and Raleigh metros to “swap” their current house for their dream home.
“The Home Swap is specifically designed to help those people who need to use the equity in their house to buy a new home,” said Tony Hanson, Partner, Better Homes & Gardens Real Estate Paracle. “The word paracle means to come alongside, advise and counsel, and it’s more than just our name – it’s how we operate our business. By teaming with Knock, we are able to offer our customers a solution that will give them the comfort of knowing they can buy their new home before selling their old one for the highest possible price. It’s an incredible tool, especially in today’s low inventory environment.”
“Inventory across the Carolinas remains tight, making the markets we serve extremely competitive and creating multiple offer situations,” said Eb Moore, CEO of Wilkinson ERA Real Estate and ERA Live Moore. “The Knock Home Swap program in our Charlotte and Raleigh markets will give our agents a compelling tool that will allow them to help their clients win in multiple offer situations. In addition, it will help to ease some of the stress of buying when you have a home to sell, leading to a better consumer experience overall.”
Knock makes it easy for consumers to swap their current house for their dream home. With the Knock Home Swap™, homeowners get the certainty of buying the new home they want first and the convenience of selling the old one after, while saving money in the process. Knock pioneered the Home Trade-In in 2017, and perfected it in 2020 with the launch of the Home Swap. Today, homeowners work with the local Knock Certified Agent of their choice to buy and move into their new home before selling their old one. They skip the hassles of living through repairs and showings, pay only one mortgage at a time and have home prep covered upfront so their old house sells on the market for the highest possible price.
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. The company is headquartered in New York and San Francisco and offers the Home Swap in 11 markets with more cities on the way. Learn more at www.knock.com.
About Better Homes and Gardens Real Estate Paracle
Headquartered in Charlotte, N.C., Paracle LLC , is engaged in the Real Estate Industry and offers Real Estate Brokerage and Home Services around the Carolinas. Currently selling homes in Charlotte, Raleigh, Winston Salem, Greensboro, Fayetteville, Columbia and Myrtle Beach. Recently recognized as one the fastest growing companies on the Inc. 5000 list. Paracle ranked 930th in the U.S. and the 31st fastest growing real estate company. The company has a notable legacy of more than eight years of real estate operations, and is on track to be a billion-dollar company by the end of 2021. For more information about the company and its services and markets, please visit the company’s website at http://www.ParacleRealty.com
About Wilkinson ERA
Wilkinson ERA Real Estate has 11 offices and over 850 agents in North and South Carolina. With sales over $1.4 billion in 2019 and over 4,753 closed sides, Wilkinson ERA Real Estate is the #1 ERA real estate firm in the Carolinas, #2 in the United States, and the top 1% of real estate firms nationwide. Wilkinson ERA Real Estate earned the ERA Circle of Success Platinum Company Designation again in 2019, recognizing real estate organizations that perform in excess of 1,500 total units closed and/or $7 million in total annual gross commissions.