Knock is on a mission to to empower people to move freely—and it intends to do so in a big way! The Home Swap service company has reportedly been staffing up key executive roles in preparation for a public offering this year.
According to Inman, the New York-based Knock recently hired a chief legal officer and has plans to quadruple its workforce as the company expands into new markets. Knock Home Swap is currently available in 40 markets through nearly 200 real estate brokerage firms, with plans to be in more than 100 markets by 2023.
Launched in 2015 by founding members of Trulia.com, Knock has raised more than $600 million in debt and equity from top tier investors. Inman notes that the company has also hired Goldman Sachs to prep it’s public offering.
Knock Home Swap offer pre-approved buyers the opportunity to put in a non-contingent offer, move in and pay a single mortgage as Knock pre-pays for home prep on the buyer’s former home, and then allows for listing and sale. Knock also provides competitively priced mortgages to homebuyers, along with interest-free bridge loans.
Earlier this year, Knock officially moved into Southern California, expanding it’s services to Bakersfield, Los Angeles, Orange County, Riverside/Palm Springs, Santa Barbara, San Bernardino, San Diego and Ventura. The company has partnered with more than half a dozen SoCal brokerage firms, including The Agency; Berkshire Hathaway HomeServices Perrie Mundy and California Realty; Keller Williams Realty Anaheim Hills/Yorba Linda, N. Tustin and Brea Fullerton; HomeSmart Evergreen; Realty One Group West; Seven Gables Real Estate and Century 21 Award.