HomeSmart Holdings, which operates an online residential real estate brokerage platform, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
HomeSmart Holdings provides integrated real estate solutions to agents, brokerages, franchisees, and consumers through an online platform designed to drive transaction velocity, volume, and operating leverage. The company's platform offers a full end-to-end consumer experience that connects all parties at each stage of the transaction process through virtual tours, marketing, document management, and process tracking. Its tech suite also includes transaction and business management products for both brokers and agents. As of September 30, 2021, the company had over 23,000 agents across 194 offices in 47 states.
HomeSmart competes with 2021 IPO Compass (COMP), which also operates a commission-based model.
The Scottsdale, AZ-based company was founded in 2000 and booked $595 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol HS. HomeSmart Holdings filed confidentially on September 3, 2021. J.P. Morgan, BofA Securities, Stifel, and Oppenheimer & Co. are the joint bookrunners on the deal. No pricing terms were disclosed.
