Homie is a discount real estate brokerage that offers reduced price listing fees for sellers along with a buyer rebate for buyers. Homie is owned by one corporate entity and does not operate franchises in the US.
Buyers and sellers work with Homie to buy or sell their home. Homie provides the buyer or seller with an agent team who helps them with every stage of the process for buying and selling.
Homie charges a flat fee of $2,000-3,000 for sellers. Homie provides a buyer refund of up to $2,500 for buyers that use their service.
Homie primarily generates revenue through real estate commissions from buyers and sellers paid on a successful home purchase or sale. Homie also generates money through ancillary services such as mortgage and home insurance.
Home Bay is privately held.
Homie employs agents as full-time employees. As a result, agents are paid a salary and smaller sales commission by the brokerage rather than being paid entirely based on sharing commissions via a traditional commission split.
Homie employs agents as full-time employees rather than independent contractors.