Knock
Knock offers the Knock Bridge Loan™, enabling homebuyers to use their current home's equity to purchase a new one, making their offers more competitive and affordable.
Services
Knock provides a pioneering financial product, the Knock Bridge Loan™, which leverages the equity in a customer's current home to facilitate the purchase of a new one. This loan enables homebuyers to make more competitive offers by eliminating the need to sell their current home before purchasing a new one. The Knock Bridge Loan™ can cover various expenses, including down payments, repairs, and moving costs while excluding the current mortgage from the new mortgage calculation to increase buyers' affordability.
Real Estate and Lending Operations
Knock operates across several states in the U.S., offering its services through multiple licensed entities. Knock Lending, LLC is a licensed lender that provides the Knock Bridge Loan for eligible customers in different states. Knock Homes, LLC operates as a licensed real estate brokerage in Georgia, while Knock Property 1, LLC issues Knock Purchase Offers (KPO) on qualifying properties and charges a contract fee for these offers.
Company Overview and Reputation
Founded in 2015, Knock has built a solid reputation for trust and reliability in the real estate industry. The company boasts an A+ rating from the Better Business Bureau and a five-star rating on Zillow based on over 750 reviews. Knock collaborates with more than 120,000 real estate agents across 75 markets in the U.S., underscoring its extensive network and commitment to high service standards.
Customer Success Metrics
Knock has demonstrated strong customer success metrics, with 92% of their clients' homes spending less than 90 days on the market. Over the past three years, the average sale to list price ratio has exceeded 100%. Additionally, most customers end up selling their homes to buyers other than Knock, indicating the effectiveness of Knock's services in the real estate market.
Investor Backing
Knock enjoys substantial backing from prominent investors, including Foundry Group, Second Century Ventures, RRE, Greycroft, and Parker89. This support reflects confidence in Knock's business model and its potential to innovate within the real estate and lending industry.