UpNest is a tech-based real estate company creating change across the US real estate market. Its objective is to provide a more transparent, efficient, and cost-effective way to evaluate and hire real estate agents. Yet it also helps agents to connect with “ready to buy” or “ready to sell” clients. In modern parlance it is an “industry disruptor”!
In summary, the UpNest site is an innovative real estate agent marketplace connecting home buyers and sellers with highly qualified local agents who compete for their business. The site analyses the performance data of thousands of competing agents to provide sellers with the best selection of such agents most likely to sell their homes in their shortest time possible.
UpNest covers all metropolitan areas across the US, and has offices in both California and Indiana. To date, the site has delivered over $30 million in commission savings through its nationwide services for home sellers.
How? Well, whilst a typical seller may want to comparison shop for the lowest commission rates, reduced listing fees often mean that the agent’s services are scaled back as well. This is different with UpNest where sellers get access to full service agents who are in the top percentage quartile of their industry and a pool of existing buyer connections ready to make offers for your home.
Normally, top agents demand a higher listing fee for their service because they can sell homes for prices on average 18% more and in a shorter time frame. On UpNest, however, agents have to compete for sellers’ business and such competition forces agents to lower their fees, thereby giving the seller access to the best agents at the best commission rates. In addition, clear cut proposals allow clients to easily compare value and make an informed decision, and still saving thousands in fees in the process.
With an intensely competitive market, home buyers and sellers are finding they need proven agents who can deliver results without paying high commissions. As an example, for a home priced at $1.6M, a seller would typically pay $98K in commission. With UpNest, the average savings would be around $20K on commission alone, and the seller gains access to the best agents around.
UpNest offers a very unique product, attracting highly-qualified clients who are eager to move forward quickly. The numbers speak for themselves but, suffice to say, site has the best conversion rate across all the referral platforms.
According to the UpNest website:
§ 17,000 agents have joined up, with the partner agents being ranked on the prestigious REALTrends Top 1000 list, and some even been featured on TV shows such as “Million Dollar Listing” and “House Hunters”;
§ over 5,000 are top agents, ranked within the top 5% for transactions for their areas;
§ agents on the site average over 20 years of experience as a Realtor
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 439 percent, and UpNest’s revenue grew 1,078% during this period. It facilitated more than $4B in home purchases and listings across the US.
The tech startup has been featured on Inman and Yahoo! News, and holds an A+ rating with the Better Business Bureau.