HomeLight is a U.S. realty platform based in Phoenix that was founded in 2012 to connect home sellers with real estate agents who are likely to close a deal quickly and get the best value for money for the seller's home.
The $40 million in Series B funding brings HomeLight's total round of funding to $55 million, making it one of the most well-funded tech real estate start-ups.
The company determines the preferences and situations of homebuyers and sellers and then matches them with agents whose transaction data shows a strong and relevant track record.
“We’re basically … the only place you can go to find objective agent performance data online,” said HomeLight CEO Drew Uher.
To assess agents, HomeLight looks at data such as their sales success rate, the time they take to sell homes, the average difference between their list and sales prices and how often they reduce list prices.
If the data exists, it also factors in agents’ history of responsiveness to HomeLight leads and the quality of reviews they have received from past HomeLight customers.
Uher also noted that the thousands of agents who have claimed HomeLight profiles are more likely to be selected by its matching algorithm.
The company claims to have introduced over 117,000 buyers and sellers to “top local real estate agents”, however Uher declined to disclose how many of those have converted into transactions, only saying that “we’ve closed billions of dollars in real estate transactions.”
After registering their contact information and filling out a questionnaire, consumers are presented with a handful of agent recommendations. Each includes agent performance highlights.