Homie raised £3m recently to expand its service in the capital, organising black cabs to take flat hunters around viewings and running much of the admin involved in finding a place to rent for them. Here’s the lowdown.
Company | Homie
Product | Concierge service and web platform that streamlines the search for rental properties in London
Price | Phone consultation and curated property selection: free. Additional bundle: £49, including multi-agent viewing tours, unlimited searches and guidance, personalised recommendations on how to get the best deal, and exclusive deals with selected partners. Homie acts as a broker platform between renters and real estate agents. In return for receiving a consistent flow of pre-qualified renters at scale from Homie, real-estate agencies pay Homie an introductory fee – but only on the placement of successful tenants. If that tenant leaves within 12 months, Homie provides a replacement for free.
Target | Renters looking for housing in London
Challenge | Finding suitable and affordable housing in London is a challenge for renters, requiring a significant time investment dealing with multiple agents and searching separate websites. Research by Homie revealed that London’s renters were spending up to 20 hours per month researching homes, and at least five hours per month on viewings.
Solution | Renters provide their home search details, and then get assigned a ‘Homie’, a personal agent that runs their home search and sends them a curated list. Renters then choose their favourite homes on the web-app and book viewings online at their preferred date and time. The Homie schedules all viewings with multiple agencies into one tour. The Homie then acts as the renter’s private agent, accompanying them on an all-inclusive, black cab journey across London to visit up to 10 homes in a two-hour tour, while offering unbiased advice on the area.
Outcomes | Agencies and agents tend to only cover the properties they manage or represent. With Homie, renters can accesses to the whole market from one place. Homie transforms the property search from a DIY endeavour to a concierge model. The search is taken care of by the tenant’s own private agent, saving both renters and agents time. The rental property experience is streamlined into a one-stop-shop service that includes the home search, viewing bookings and tours. A modern, technology-powered urban relocation service at an affordable price.