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Knock’s iBuyer home-trading model is expanding in North Carolina

By June 13, 2018 No Comments
Knock’s iBuyer home-trading model is expanding in North Carolina
REPOSTED DIRECTLY FROM INMAN NEWS. THIS CONTENT HAS NOT BEEN MODERATED BY WFG NATIONAL TITLE.

Knock, a popular iBuyer that connects homebuyers with properties and then helps them sell the new on the market, is expanding its home trade-in model in North Carolina.

Last week, the Atlanta-based startup announced that it was bringing its iBuyer services to three cities in North Carolina: Raleigh, Durham and Chapel Hill. The idea, according to Knock co-founder Sean Black, is to bring its trade-in model (the company buys a home on the clients’ behalf in cash, works out a mortgage and then takes over the sale of their old property) to a new market.

“We’re incredibly excited to launch in the Triangle as our third market and to bring its consumers convenience, certainty and cost savings through our revolutionary new approach,” Black said in a statement.

“Our Home Trade-In program is life-changing for people who are buying and selling at the same time. We manage the entire complex process for them, help them unlock the equity in their existing home in order to make a successful offer on their dream home and so much more.”

North Carolina’s tri-city area, after Atlanta and Charlotte, is another of Knock’s major market expansions across the U.S. The company has already begun working with homeowners in the market to provide analysis of how local properties are going to sell.

According to the company, 71 percent of homebuyers in the North Carolina area are also trying to sell a property at the same time. As home prices nationwide go up due to high housing demand and limited supply, Knock aims to give homebuyers who need a mortgage a leg up against those who have the money outright.

The company, which lets customers move into their new home before it even lists the current one and makes money by charging a 3 percent commission on the sale, is meant to provide security for those who are worried about not being able to sell their current home.

As iBuyers start to slowly gain the trust of homebuyers, Knock plans to tap into even more markets, eventually expanding to 10 cities by 2020.

Email Veronika Bondarenko

The views and opinions of authors expressed in this publication do not necessarily state or reflect those of WFG National Title, its affiliated companies, or their respective management or personnel.

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