Expansion follows $23 million Series B funding round
On the heels of a $23 million Series B funding round earlier in the year, tech start-up Homie has expanded its real estate listing and marketing service to Las Vegas.
Homie will soon be offering marketing, listing, and selling services to Vegas home-sellers for a flat $2,500 listing fee as opposed to the traditional 6% commission on the price of the home. The marketing model, which combines proprietary technology with local full-time agents, has “already saved consumers $55 million in real estate commissions and helped consumers buy and sell over $1 billion in homes in 2019,” Homie said in a statement.
The expansion represents a homecoming of sorts for Homie co-founder and chief financial officer Mike Peregrina, who grew up in the city and studied at the University of Nevada, Las Vegas.
“I bought my first home here and started investing in real estate in 2005,” said Peregrina. “When the housing market crashed in 2008, I felt first-hand the pain experienced by too many Las Vegas homeowners that lost all their equity overnight. I realized we needed a better way to buy and sell real estate, so I looked for ways to streamline the process and eliminate excessive commissions. I consider Vegas home and it’s been my dream to bring Homie here.”
