![]() “HomeSmart is a revolutionary real estate enterprise powered by our proprietary end-to-end technology platform,” declared the first page of the voluminous SEC filing, later elaborating: “We have been developing our software in-house over the last 20 years and have a 100% adoption rate across our agents.” HomeSmart, like Compass, Keller Williams, eXp and other brokerages, states it has unique technology to modernize real estate. The company generated $478 million revenue in the first nine months of 2021 – a figure that includes what income is earned by their independent contractor agents, and posted a $2.3 million net loss, according to the filing. HomeSmart has yet to give itself a valuation or declare how much money it seeks to raise in a public offering. Last Friday, HomeSmart filed an “ S-1” with the Securities and Exchange Commission, a document that conveys HomeSmart’s intention to sell company shares to prospective investors and the public. ![]() HomeSmart is a growing real estate brokerage that may go public, but the company faces questions about its business model and the compensation of founder and CEO Matt Widdows.įounded in 2000, Scottsdale, Arizona-based HomeSmart is the seventh largest brokerage in the country by transaction sides, or how many times a HomeSmart agent represented the buyer or seller in a deal, according to RealTrends. ![]()
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