Founding members of the online real estate company Trulia have launched a new platform called Knock which guarantees that it will competitively price and sell your home in six weeks or less.
Knock just completed a Series A funding round of $32.5 million led by RRE Ventures and is using metro Atlanta as a launch market, with plans to expand nationally in the coming months.
CEO Sean Black and COO Jamie Glenn are co-founders and both helped start Trulia in 2004. Seattle-based Zillow acquired Trulia in 2015 for $2.5 billion. Karan Sakhuja is the third Knock co-founder and he serves as chief architect.
“From our experience working in online real estate at Trulia and Yahoo, we recognized the need to utilize technology to streamline the home selling process,” Black said in a news release. “We sought funding and advisors from business leaders who successfully transformed industries at iconic, multi-billion dollar companies like Netflix, TiVo, Trulia and Houzz. Together, we’re fundamentally changing the face of home selling by utilizing data science to price homes accurately, technology to sell them quickly and a dedicated team of professionals to guide homeowners through the selling process.”
Opendoor is another startup that’s already in the space with the aim of streamlining the process for home buyers and sellers. But Knock asserts that it is alone online in the quest to sell homes at market price in six weeks for the same six percent fee that users would pay a traditional real estate agent.
The company said it uses a home pricing algorithm, neighborhood analysis and a proprietary 200-point on-site inspection to ensure homes are priced right the first time. A seven-point how-to further spells out the process Knock uses to sell (or buy) your home.