A year into its launch, a Cincinnati homebuying startup is expanding its reach throughout the region.
Homeshake, which launched in January 2020, is now available in Butler, Warren and Clermont counties, the company announced Monday. Previously, the startup's services were only available in Hamilton County.
Co-founded by Nick Rabin and Jonathan Bennie, Homeshake aims to disrupt the residential real estate industry by creating its real estate marketplace that allows buyers and sellers to negotiate deals directly, rather than through an agent. As a result, sellers can save thousands of dollars on commission.
"There is strong demand for an alternative way to buy or sell a home, with lower cost and more flexibility," Rabin said in a statement. "Today’s announcement allows us to reach more of those customers, giving people a commission-free option with the service and support they need."
During its first year, Homeshake generated more than $5 million in sales volume. Its first sale came this June in Hyde Park, and ultimately, saved the sellers roughly $80,000 in commissions.
Rabin previously told the Business Courier his first milestone for Homeshake is to grab 10% of the Greater Cincinnati home sales market, which typically has 25,000 home sales annually. If Homeshake is able to grab market share the way other disrupters have, it would mean a bright future for the company and potentially big things for Cincinnati. As a result, Homeshake was named one of Cincy Inno's Startups to Watch in 2021.
