SAN FRANCISCO, CA--(Marketwired - May 29, 2014) - LessThan6Percent, Inc., a company specializing in online real estate agent marketplaces, has launched UpNest (http://www.upnest.com) to connect home buyers with full-service real estate agents offering commission rebates. Available today throughout California and Washington, UpNest offers home buyers an easy way to compare and hire real estate agents and lower their real estate transaction costs.
UpNest brings a fresh approach to agent-matching by using a proprietary algorithm to suggest a rebate range based on a buyer's profile and readiness to purchase. Home buyers first submit a request on UpNest.com with basic information such as their price range, financing status, and home preferences. Within hours of their request, home buyers will receive personalized proposals including rebates, service offerings, and written and voice presentations on why the buyers should use the agents. Home buyers then select an agent to interview and hire based on these proposals.
UpNest is the Perfect Fit for Today's Savvy Home Buyers
Currently, there are a number of discount brokerages that offer rebates, but a lot of buyers still prefer to work with full-service experienced agents because of their access to pre-market inventory, their connection with listing agents, and their end-to-end full services. Nevertheless, a growing number of home buyers are finding and touring homes on their own. As a result, more and more of these savvy buyers are requesting rebates for the efforts they put in.
UpNest is poised to address this growing and unique client base, which is neither served by discount brokerages such as Redfin, nor traditional full-service brokerages. "Our buyers get the best of both worlds. They get to work with top local agents, many of whom are highly ranked on the Wall Street Journal, and they get to receive a sizable rebate at closing," says Simon Ru, founder of LessThan6Percent, Inc. (http://www.lessthan6percent.com).
First time home buyer, Joseph Floyd, recently used UpNest to find an agent to aid in his home search in San Francisco. "UpNest helped connect me with top real estate agents in San Francisco and they bid to serve me. The process was really simple and efficient. The agent that won through UpNest was fantastic throughout the process. He contributed the agreed upon rebate directly to escrow, it was a great experience."
UpNest is attractive to real estate agents as a performance-based marketing platform
While home buyers enjoy convenience, selection and savings, UpNest's partner agents gain highly qualified buyers whom they would not have met otherwise. As more and more buyers search and hire real estate agents online, agents are now spending hundreds and thousands of dollars each month on online advertising. In addition, they have to spend significant amount of time reviewing the inquires to find the right buyers. UpNest does not charge its partner agents any upfront fees, and delivers better buyers than traditional agent directories. By asking potential buyers a series of background questions, UpNest assigns each buyer a readiness score and shares all that information with the agents. Buyers are also encouraged to link their LinkedIn or Facebook profiles, creating even more qualified and compelling prospects for the agents. The agents have the option of choosing whether to work with the buyer and what level of rebate to offer.
"UpNest delivers a better return than other real estate marketing sites," said Richard Schulman, Keller Williams' #1 agent in Los Angeles. "They talk to every client, so when the client decides to interview me, I know that they really do want to work with me. Because there's no upfront cost, UpNest is a great channel for new business."
UpNest has signed up hundreds of agents throughout California and Washington during its beta launch. Many full-service agents are excited about UpNest's platform because they recognize that rebates are an important retention mechanism and an effective tool in building clients' loyalty. By keeping the rebate and service proposals private and only viewable by the buyers, UpNest provides a confidential platform for full-service agents to compete with discount brokerages in a way that was not previously available.
UpNest is a buyer agent's marketplace launched by LessThan6Percent, Inc. and led by a team that has helped grow companies like EBay (http://www.ebay.com/) and Redfin (http://www.redfin.com/). UpNest offers home buyers an easy way to compare and hire real estate agents and lower their real estate transaction costs. To learn more about UpNest, please visit http://www.upnest.com.