EasyKnock, a tech-enabled residential sale-leaseback proptech platform, today announced partnering with Marketplace Homes to provide customers with access to new construction builds while selling their existing homes, according to a press release.
The company says that through the partnership, Marketplace Homes’ customers can convert their existing home equity into cash via EasyKnock’s sale-leaseback solution to secure and fund the construction of a new home.
It says this helps customers avoid complications that come with listing their home on the market, including finding temporary housing, paying storage costs and relocating outside of their community while waiting for construction to complete.
“EasyKnock’s partnership with Marketplace Homes will provide a more straightforward path to homeowners who are looking toward their futures,” stated Jarred Kessler, CEO and founder of EasyKnock, in the release.
“Given the uncertain housing market and broader supply chain issues in the U.S., customers need and deserve more flexible solutions than the traditional options. Through our collaboration with Marketplace Homes, we look forward to supporting homeowners through an exciting transition in their lives,” Kessler said.
Founded in 2016, EasyKnock has raised over $400 million to date, including a $57 million Series C in February 2022 with investors including QED Investors, Moderne Ventures and Viola Ventures. The company now has over 100 employees nationwide, according to the release.
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The release also states that Marketplace Homes is the number one real estate brokerage in the U.S. for new construction homes since 2008. It says that as the housing inventory crisis and competition for new construction homes continues to increase, many homeowners are in need of ways to pay for and secure new homes before they are ready for move-in.
As a result, EasyKnock says its solution enables these homeowners to plan ahead, while staying in their homes with an adaptable timeline.
“With competition between prospective buyers and delivery challenges in the new home market, our partnership with EasyKnock provides our customers the unique flexibility to cash out and close promptly without contingencies while avoiding multiple moves and other expensive complications,” stated Andy Satkowiak, CRO of Marketplace Homes.
“Our companies working together makes for an exceptionally valuable fit and allows our customers to focus on building their dream home,” Satkowiak said.
In other recent proptech news, Tyler Technologies integrated Nearmap tech to enhance its mass appraisal services for municipalities. Property Meld also partnered with PURE Property Management to streamline its maintenance communication systems.