UpNest is disrupting the way the real estate industry deals with home sales. To find a realtor who is in the top percentage quartile of their industry and who already have a pool of existing buyers ready to buy your home is now so much easier.
Furthermore, the platform also helps realtors to connect with “ready to buy” or “ready to sell” clients, thereby creating a more transparent, efficient system when it comes to home sales.
However, and perhaps best of all, Upnest helps sellers save millions of dollars in real estate agent’s fees. In fact, so far, the site has produced over $30 million in commission savings through its nationwide services.
How does Upnest manage to get multiple agents competing for your business?
Well, firstly, Upnest is a digital platform that uses up-to-date, comprehensive transaction data to match owners looking to sell a home with a pre-screened professional real estate agent. It has created a cost-effective way for home sellers to compare the performance of and hire the realtor right for them.
The sales track records of multiple competing agents are carefully analyzed in order to offer sellers the best selection of realtors most likely to sell their homes in their shortest possible time. The seller can then make a shortlist of such agents and begin discussing fees for selling with them.
But how does having multiple agents save money for sellers?
With Upnest, sellers looking to find a realtor get access to full-service agents who are in the top percentage quartile of their industry and who already have a pool of existing buyers ready to buy. This is different from where a typical seller shop around for the lowest commission rates, and has to accept that reduced fees also means that the scope of the realtor’s services is scaled back.
So, multiple agents have to compete for sellers’ business on Upnest, thereby forcing the realtors to reduce lower their fees if they want the business. The sellers still get access to the best agents at the best commission rates—saving significant fees in the process.
Many realtors are keen to join the platform as it is a channel for sales with little downside for them, plus has the best conversion rate across all major referral platforms. Furthermore, agents don’t pay a fee for the initial service, only when a transaction happens.
The number of multiple agents signed-up is amazing
As proof of this keenness to join, according to Upnest:
- almost 30% or around 5,000 agents on the platform are top-ranked and within the top 5% for transactions for their respective areas;
- some 17,000 agents have signed-up, with many being ranked on the prestigious REALTrends Top 1000 list
Since it was founded, Upnest has been growing rapidly and covers all metropolitan areas across the US, with offices in both California and Indiana, Clearly, judging by its service reviews shown here, the referral platform is delivering exactly what home sellers want!
UpNest is ranked #322 on the 2018 Inc 5000 Fastest-Growing Companies, as well as #85 on Deloitte’s 2018 Technology Fast 500. Upnest’s revenue grew 1,078% in a relatively short period and it has facilitated more than $4 billion in home purchases and listings across the US, thereby securing an A+ rating with the Better Business Bureau.
