Knock, the fast-growing homeownership platform that brings certainty and convenience to buying and selling homes, announced today that Portland, Ore., area homeowners have a new way to compete and win their dream home. Beginning today, they can use the Knock Home Swap to unlock the equity in their current house to make a strong non-contingent offer on their new home before they list.
With Knock’s expansion into Portland–Vancouver–Hillsboro, Ore., Wash., Eugene–Springfield, Ore., Salem, Ore., Albany–Lebanon, Ore., Corvallis, Ore. and Longview, Wash., homeowners in 65 markets nationwide can now use the Knock Home Swap to gain a competitive advantage in today’s hot housing market, while also avoiding the stresses associated with selling a home, including repairs and open houses.
“The Home Swap provides a fully digital end-to-end solution that allows a consumer to work with their own agent to buy their new home and then list and sell their current house on the open market for the maximum sale price,” said Knock Co-Founder and CEO Sean Black. “At Knock, we believe home is everything, and we are excited to partner with the region’s leading brokers and agents to give homeowners throughout Portland Metro and the I5 Corridor to Eugene a better way to buy and sell homes.”
With the Knock Home Swap, a consumer is pre-funded for 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 their dream home with their own agent by their side and in the app. In addition, they have the advantage of waiting until they have moved into their new home to prep and list their old house on the open market, so there’s no living through repairs and showings or selling for less than full value.
As part of its commitment to certainty and convenience, Knock offers Home Swap customers a 30-day closing guarantee 1,2 and its Home Prep Concierge, which includes access to the company’s approved contractor network as well as managing 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-eight percent of Knock homes sell in 90 days or less, with 90 percent selling in 30 days or less.
Knock is partnering with hundreds of agents at 11 local leading brokerage firms to bring the Home Swap to homeowners throughout the Portland metropolitan area, including Keller Williams Realty Professionals; Keller Williams Realty Sunset Corridor; Keller Williams Realty Capital City; Keller Williams Realty Eugene & Springfield; Keller Williams Southern Oregon; Keller Williams Realty Mid-Willamette; Keller Williams Realty Portland Central; Keller Williams Realty Portland Elite; Soldera Properties; The Hasson Company — Drew Coleman Team and Ross Seligman, Living Room Realty.
“We are excited to partner with Knock to provide even more resources to our clients and ultimately open more doors of opportunity. In today’s competitive real estate market, the Knock Home Swap provides much needed certainty and convenience while allowing clients to make the most competitive offers possible,” said Leslie Hilbert, General Manager of the Xperience Brokerage Network, which includes Keller Williams Realty Professionals, Keller Williams Sunset Corridor, Keller Williams Capital City, Keller Williams Eugene & Springfield and Keller Williams Southern Oregon. “With the Home Swap, clients no longer have the anxiety of not being able to place a strong non-contingent offer. the hassle and expense of moving twice or the stress of coordinating closings.”
Nationwide, the Knock Home Swap is available through 255 real estate brokerage firms with over 103,000 agents in approximately 4,900 ZIP codes nationwide.
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 65 markets 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. The National Association of Realtors®, through its investment arm Second City Ventures, is a strategic investor in Knock, giving its 1.5 million members the ability to market the Knock Home Swap to their clients.