The company has been secretive about recent layoffs and the departure of CEO and co-founder Mike Peregrina.
Homie does not have a CEO.
Sarah Edelman, Homie’s vice president of marketing, said the company’s management team is currently leading the company under the “direction of a board of advisors.”
Asked by the Tribune if Mike Peregrina, Homey’s co-founder and president, is no longer CEO, Edelman said, “Homey is committed to our continued pursuit of disrupting the real estate sector. In conjunction with this, we have made a change in leadership,” he wrote in an email.
Mike Peregrina took over as CEO a little more than a year ago after co-founder Johnny Hanna resigned in October 2022 amid significant layoffs.
The Tribune reported Nov. 6 that Homey’s workforce has grown from about 600 to 130 people to perhaps 40 now, according to multiple sources who requested anonymity for fear of employment and legal repercussions. . Those sources estimate that about 90 other employees were laid off last month. (Homey would not confirm how many employees were laid off).
“Like many businesses in Utah, Homey has made the necessary changes to continue operating in this challenging real estate and high interest rate environment,” Edelman wrote in an Oct. 31 email.
Mr. Homey has remained largely silent about recent layoffs and leadership changes. Edelman said Homie still operates in five Mountain West states: Utah, Arizona, Nevada, Colorado and Idaho.
Edelman cited a recent lawsuit that ordered the National Association of Realtors and other intermediaries to pay $1.8 billion in damages for violating antitrust laws. “This is a decision that has the potential to rewrite the entire structure of the U.S. real estate industry, potentially lowering the cost of moving homes by cutting fees,” the New York Times wrote.
Homie’s Edelman said the recent decisions “underscore more than ever the importance of prioritizing consumer welfare over conventional practices.” Unlike traditional real estate agents, Homie charges a flat fee rather than a commission based on the sale price of the home. (Homie also advertises that he gives consumers his 25% of the buyer’s fee).
“Homey remains committed to its mission of empowering consumers by maximizing cost savings,” Edelman said Tuesday, adding, “The company has an unwavering dedication to delivering disruptive solutions in real estate.” We continue to operate with a positive attitude.”
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