In an email on Monday, a spokesperson for the power buyer confirmed to Inman that the company had laid off workers and would now 'be a company of less than 30 people'
The cuts are the second time the power buyer has reduced its workforce as the market has rapidly deteriorated this year
Opinion
Billions of dollars have been invested to disrupt the mortgage process — which is the path to profitability for many real estate tech companies
Less than 2 months after layoffs, the power buyer is now in 17 states and says it's still on track to meet a goal of being operational in half of the US by the end of the year
At Inman Connect Las Vegas, John Paasonen of Maxwell and Robert Foos of Knock said agents and buyers have an opportunity to be selective in the current market when it comes to financing
Knock and HomeLight CEOs are witnessing a sea change as the market shifts, but they said that doesn't necessarily mean buyer and seller appetites for cash offers will change anytime soon
Founder and CEO Tim Heyl told employees in a letter Wednesday that the slowing market had made a sizable dent in the company's 'buy with cash' product, according to a spokesperson
Out of nearly nearly 600 nominations received from the public, these are the real estate industry innovators that stood out in 2022, according to an announcement at Connect Las Vegas on Friday
Seek lenders who have the tech, people skills and product set to get would-be homebuyers off the fence and to the closing table, Knock and Maxwell executives told attendees at Connect Las Vegas
While funding may be scarce for real estate startups, Power Buyers Knock and HomeLight CEOs Sean Black and Drew Uher said at Inman Connect, they aren't having trouble securing capital
Interest-free home equity advances to Knock Home Swap clients can be used to buy down mortgage rate or make a bigger down payment
After expanding into 8 new states and more than doubling its market footprint this year, the Power Buyer is laying off 136 employees in search of an 'achievable path to profitability'
HomeLight announced on June 29 that it planned to cut an unspecified number of jobs. Uher is confident in Power Buying and shares his views ahead of Inman Connect Las Vegas
Austin, Texas-based mortgage platform has more avenues to partner with real estate brokerages as it looks to expand its footprint to 23 states by the end of the year
Committee takes up the growing reach of institutional investors at a hearing this week. The biggest companies now own more than 280,000 single-family homes to rent