UpNest is making waves in the real estate industry. Big waves. Indeed, the platform is irrevocably changing the way sellers select and interact with their preferred real estate agent all across the country. Yet it also helps realtors to connect with “ready to buy” or “ready to sell” clients.
But, maybe best of all, UpNest is helping sellers save millions of dollars in commission and real estate agent’s fees. To date, the site has produced over $30 million in commission savings through its nationwide services to home sellers.
How does UpNest work?
UpNest is a digital platform which uses comprehensive transaction data to match owners looking
to sell a home with a fully screened professional real estate agent. The platform’s key goal is to ensure that there is a more transparent, efficient, and cost-effective way for home sellers to compare and hire realtors.
The performance data of competing agents is carefully analyzed and provides sellers with the best selection of real estate agents most likely to sell their homes in their shortest possible time. UpNest firmly believes that a quality realtor is fundamental to the transaction. Indeed, a great agent can be a game-changer, the difference between a smooth home-buying experience and the transaction going ahead or not.
How does UpNest save money for sellers?
Whilst a typical seller may want to shop around for the lowest commission rates, reduced fees usually also means that the agent’s services are reduced. This is not the same with UpNest where sellers 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.
Accordingly, on UpNest, agents have to compete for sellers’ business, thereby forcing them to lower their fees. However, sellers still get access to the best agents at the best commission rates—saving thousands in fees in the process.
The process is straightforward and the platform has the best conversion rate across all the referral platforms. Many real estate agents are keen to join the platform as it is a channel for sales without a lot of downside. Agents don’t pay a fee for the initial service, only when a transaction happens, which is industry standard in realtor referral fees.
According to UpNest:
§ to date, 17,000 agents have joined the platform, with many of the partner agents being ranked on the prestigious REALTrends Top 1000 list. Some have been featured on TV shows such as “House Hunters”;
§ almost 30% or around 5,000 are top agents, ranked within the top 5% for transactions for their respective areas.
Clearly, judging by its service reviews, UpNest is delivering what consumers want!
Since it was founded, UpNest has been growing rapidly and covers all metropolitan areas across the US, with offices in both California and Indiana.
UpNest is ranked #85 on Deloitte’s 2018 Technology Fast 500, and #322 on the 2018 Inc 5000 Fastest Growing Companies. Overall, the 2019 Technology Fast 500™ companies enjoyed median revenue growth rates of over 400% and UpNest’s revenue grew 1,078% in short period. It has facilitated more than $4 billion in home purchases and listings across the US and has been featured on Inman and Yahoo! News, as well as holding an A+ rating with the Better Business Bureau.