It’s 2022, and firms are already on the move in the real estate world. Case in point, last Friday, tech-based brokerage HomeSmart filed paperwork with the SEC moving towards an initial public offering.
While HomeSmart has begun the process of their IPO, most of the details have yet to be publicly revealed. The timeline is still unknown as well as how many shares would be sold. HomeSmart has applied to list on the Nasdaq under the symbol “HS.”
This news comes shortly after HomeSmart announced that they had acquired the Houston-based Champions Real Estate Group. This extends the total number of HomeSmart agents to just under 25,000. HomeSmart is unique in that the brokerage does not take any of agents’ commissions, instead charging various monthly and transaction-based fees.
The last few years have been uncertain ones for publicly traded real estate firms. Companies like Zillow, Realogy, and eXp saw their stock rise in early 2021 before falling, in some cases quite significantly. Compass, for example, after having its own IPO in early 2021, has seen its stock slide by more than half since then