HomeLight Launches HomeLight Trade-In™ and HomeLight Cash Offer™ in Arizona, with Plans to Expand to 500 Employees Statewide
Offers powered by HomeLight Cash Offer, meanwhile, have saved buyers up to 4.4% compared to offers with a loan.
SCOTTSDALE, Ariz., Oct. 25, 2021 /PRNewswire-PRWeb/ -- HomeLight, the real estate technology platform transforming the home buying and selling process for top real estate agents and their clients, announced today that it is expanding its flagship financial products, HomeLight Trade-In™ and HomeLight Cash Offer™, to top real estate agents, homebuyers, and sellers across Arizona.
The expansion comes on the heels of 700% growth for the products since their launch in January 2020 and is fueled by a $363 million Series D funding round raised in September 2021.
Both products have been used extensively during the year's historically competitive market. Based on transactions closed since December 2019, HomeLight Trade-In™ homes have sold for 5% above valuation, closed 5x faster, and helped clients save 3.5% on the purchase price of their new home compared to the traditional method of listing on the market. Offers powered by HomeLight Cash Offer™, meanwhile, have saved buyers up to 4.4% compared to offers with a loan.
HomeLight is headquartered in the SkySong Center in Scottsdale, AZ, a high-growth community for technology-based businesses in the ASU Scottsdale Innovation Center. Previously, the company was headquartered in San Francisco, CA, where the company was originally founded in 2012.
The Scottsdale-area headquarters is HomeLight's largest office and serves as an operational hub for the company's customer service, sales, and title and escrow divisions. HomeLight plans to hire up to 300 employees in the region over the next 6-12 months.
"We couldn't be prouder to see HomeLight move their headquarters from San Francisco to Scottsdale, which has become the company's largest office," said Governor Doug Ducey. "HomeLight's rapid expansion underscores Arizona's premier environment for technology and innovation success. We welcome this latest expansion, and the more than 300 jobs it represents, and look forward to supporting HomeLight's success long into the future."
"Congratulations to HomeLight on their continued success," said Scottsdale Mayor David D. Ortega. "Scottsdale has positioned itself as the perfect location for HomeLight's growth and innovation in the real estate market, and I am always delighted when smart companies capitalize on the excellent foundation our booming tech sector provides in Scottsdale."
"Facing a real estate market that's more competitive than ever, top agents, homebuyers, and sellers are looking for innovative tools and services like HomeLight Trade-In and Cash Offer to help them transact with speed, certainty, and simplicity," said Drew Uher, Founder and CEO of HomeLight. "We couldn't be more excited to deepen our roots in Arizona, tap into the skilled workforce in the greater Scottsdale area, and partner with the best agents in Arizona to help them provide an exceptional experience for their clients at every step of the transaction process."
HomeLight Cash Offer™ gives top agents and their clients the ability to make an all-cash offer on their next home, even if they need a mortgage. HomeLight Home Loans™ verifies the client's income and assets to determine purchasing power, and once the client and their agent find a home, HomeLight makes an all-cash offer on the client's behalf and holds the home until the client secures financing. As soon as the client's loan closes, HomeLight sells the home to the client at the purchase price, plus a small program fee.
HomeLight Trade-In™ solves another important issue that agents and homeowners face: the ability to buy and sell at the same time, while still capturing the full market value of their home. HomeLight purchases the individual's home — typically for 90% of the home's expected value — which frees up their equity when they need it before going through a full listing process. HomeLight then lists and sells the home on the market with the agent. If the home sells for more than HomeLight's purchase price, the company pays the client the difference, less a small program fee.
"As more people continue to flock to the Copper State, I'm excited to offer HomeLight Cash Offer and HomeLight Trade-In to help my clients compete and win in today's market by giving them opportunities to make contingency-free offers," said Martin Sears, Phoenix-area real estate agent in the HomeLight network and owner of West USA Realty Estrella Branch. "Thanks to HomeLight's technology, I believe we can help put more Arizonans on the path towards the American dream of homeownership."
Agents interested in gaining access to these products should visit the following:
- To apply for access to HomeLight Cash Offer™: homelight.com/cash-offer/agents
- To apply for access to HomeLight Trade-In™: homelight.com/trade-in/agents
About HomeLight
HomeLight is building the future of real estate — today. Our vision is a world where every real estate transaction is simple, certain, and satisfying for all.
The best real estate agents rely on HomeLight's platform to deliver better outcomes to homebuyers and sellers during every step of the real estate journey, whether that's enabling an all-cash offer, unlocking liquidity of their existing home to buy a new one, or creating certainty through a modern closing process. Each year, HomeLight facilitates billions of dollars of residential real estate business on its platform for thousands of agents.
Founded in 2012, HomeLight is a privately held company with offices in Scottsdale, San Francisco, New York, Tampa, and Seattle, with backing from prominent investors including Zeev Ventures, Menlo Ventures, Group 11, Crosslink Capital, Bullpen Capital, Montage Ventures, STCAP, Citi Ventures, Google Ventures, and others.
For additional information and images: homelight.com/press
Media Contact
Annie Dreshfield, HomeLight, (847) 287-4615, [email protected]
SOURCE HomeLight
