Livonia,MI, Aug. 27, 2012 (GLOBE NEWSWIRE) -- Inc. magazine ranked Marketplace Homes No.189 on its 31st annual Inc. 500|5000, an exclusive ranking of the nation's fastest-growing private companies. At a 1,835% growth rate, this places Marketplace Homes as the fastest growing company in Metro Detroit, second fastest-growing company in Michigan and the nation's sixth fastest-growing real estate company. The 2012 list represents the most comprehensive look at the most important segment of the economy--America's independent entrepreneurs. Companies such as Microsoft, Zappos, Intuit, Jamba Juice, Zipcar, Clif Bar, Vizio, Oracle, and many other well-known names gained early exposure as members of the Inc. 500|5000.
"Marketplace Homes is honored to be named among the 500 fastest growing companies in America," said Mike Kalis, Managing Partner and CEO of Marketplace Homes. "From its inception, Marketplace Homes' vision has been to move the world in any way possible. Whether it's allowing a family purchase the home of their dreams or helping a young couple have the opportunity to rent their first home, Marketplace Homes is constantly innovating the way people move. None of this would be possible without the almost 80 person dream team that helps make Marketplace Homes run. I firmly believe we have the 80 most productive employees in the entire Metro Detroit area and the results prove it to be true." Though ending with 52 employees in 2011, Marketplace Homes has added nearly 30 additional staff members in 2012.
"Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is," says Inc. magazine Editor Eric Schurenberg.
With many companies in the real estate industry experiencing a downturn, Marketplace Homes is growing faster by the minute. This exponential growth has come from an aggressive geographical expansion plan that has placed Marketplace Homes in over 30 different markets across the country all from their headquarters in Livonia. Using technology to their advantage, Marketplace Homes has established themselves as an industry leader in innovative concepts. All communication with Marketplace Homes' clients is conducted via telephone and email, thus allowing them to operate on a nation-wide scale. Since its foundation in 2002, Marketplace Homes has helped thousands of families across the nation be able to have the American dream, a home of their own.
The Marketplace Homes 6 Year Guaranteed Lease was brought about after the real estate crash, when millions of homeowners suddenly found themselves owing far more on their homes than they were worth. With 31.4% of all residential properties with a mortgage currently underwater, there are few solutions offered to these homeowners looking to move beyond short-selling or foreclosing. When a client buys a new construction from one of Marketplace Homes' preferred new builder partners, Marketplace will agree to lease their current home for up to 6 years. The homeowner will receive a payment every month, even if there isn't a tenant.
Since purchasing the company in 2008 for a mere $25 thousand dollars, Kalis grew Marketplace Homes from a two person setup in his basement, to a thriving 80 person company with operations in almost 20 states across the country. Working with some of the nation's largest builders, Marketplace Homes expects to sell over 1200 homes this year and take in $25 million in revenue.
The 2012 Inc. 500, unveiled in the September issue of Inc. (available on newsstands August 21 to November 15 and on Inc.com), is the most competitive crop in the list's history. To make the cut, companies had to have achieved a staggering minimum of 770% in sales growth. The Inc. 500's aggregate revenue is $15.7 billion, with a median three-year growth of 1,431 percent. The companies on this year's Inc. 500 employ more than 48,000 people and generated over 40,000 jobs in the past three years. Complete results of the Inc. 500|5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/500.