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Rainer
131,350
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

I love how Thomas didn't like how the agent he spoke with wasn't "digitally advanced", but hired someone that didn't have a profile picture on their ditigal media page.

Mar 17, 2018 12:35 PM
Rainmaker
3,634,434
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

The reason that company was feature on ABC news, is because ABC was paid for doing that.  This is known as advertorials, and no it isn't free  A

Mar 17, 2018 12:58 PM
Rainmaker
1,142,708
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

So real estate agents can be part of yet another lead generation service that charges a referral fee at closing. In that way, this service is the same as many others.

On the customer side, they can use an online tool to select an agent, which many sellers and buyers would like to do. That doesn't mean they are going to get a great agent though, and in fact it might more likely mean they don't. They will get an agent who has agreed to pay a fee. And one who might have the "right" commission schedule. That's not any guarantee of quality.

What's interesting is more than 5M people watched that video. So obviously there is a lot of interest out there.

Mar 17, 2018 12:34 PM
Ambassador
2,432,021
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

If you're talking lead-gen, this is the company to use. You are contacted to give them a proposal, stating what you're willing to list their home for (commission), send a CMA and let them know why they should hire you. 

If you get the listing, you don't pay UpNest until it Closes. I know agents who do this and I think they charge a 20% referral fee - not 100% sure but, it was a reasonable percentage.

The thing is, you may opt to take a tiny percentage off but, do a bang-up job showing what differentiates you from others in their pool. If it's less than what the seller thinks is 'standard,' they're happy to have any discount - big or small. 

They've been around for a very long time - I remember agents using them as many as 8 or 10 years ago.

Mar 17, 2018 04:39 PM
Rainmaker
768,473
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

I have not, yet. What were your thoughts?

Mar 17, 2018 12:22 PM
Rainmaker
2,137,238
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

It looks like I will be zigging when the majority is zagging again so I will have to let everyone know how it goes. I built a profile last week but haven't seen my broker to get his wet signature on the form. So far it has cost me nothing but about 15 minutes of time.

Yes, I will have to pay a referral fee if I close with one of their leads but I am looking at it as it is a lead I may not have otherwise received which means a closing I would not have had. ;-)

Mar 17, 2018 05:38 PM
Rainmaker
511,122
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

We use Upnest. If we close the transaction, we pay what amounts to a referral fee. Why is that bad? At the same time, we are not a discounter which is all that I can say about commission structure.

Mar 17, 2018 04:56 PM
Rainmaker
547,365
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

"Saved him SEVEN POINT FIVE THOUSAND DOLLARS?"
WHO trains these reporters?

Oh wait . . . they are coming out of colleges. Never mind!

Mar 17, 2018 02:13 PM
Rainmaker
268,970
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

As with the last boom in real estate, there are many new options for people out there. Staying focused on working with your clients, doing a great job and being up on the latest technology-incorporating that which makes sense and asking for referrals still works. 

Mar 17, 2018 01:28 PM
Rainmaker
4,164,758
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

I've always found my own listing leads.... target marketing ....direct mail... more sellers are found offline than online.... the postcard triggers them and they go online to see if you have a presence...then the phone rings.

Mar 17, 2018 01:17 PM
Rainmaker
1,349,113
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

Well the comments were turned off I'm sure for a good reason. I can't believe that ALL realtors in that guys area were techno challenged.

BFD on a drone video which his property deserves with his acreage.

No one mentioned that those UpNest agents were paying to join the site. A hefty bit.

Mar 17, 2018 12:40 PM
Rainmaker
4,498,203
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Nope. This could be a good blog topic for you. Do not count on readers clicking on links in this section.

Mar 17, 2018 12:27 PM
Rainmaker
2,559,370
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Upnest wants me to pay them a portion of my commission they are trying to reduce.  How are we on the same team? Another service with there hand in my pocket, no thanks!

Mar 17, 2018 02:49 PM
Rainmaker
887,357
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

I'd be interested to see how well they do in a Buyer's market.

Mar 17, 2018 02:37 PM
Rainmaker
2,301,788
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

What Ron and Alexandra Seigel said. This, by the way, as a service is not a new concept. I can't believe that someone with a home like that didn't know someone who could have referred him to an excellent agent.

Mar 17, 2018 02:00 PM
Rainer
16,445
Dario Ferreira
Attleboro, MA
Internet Marketing

Great job by the company for being featured in a news piece.

I think many real estate agents should pay attention to what the seller said in the piece, especially about the agents he previously interviewed - "they weren't digitally advanced".

Mar 17, 2018 12:36 PM
Rainmaker
532,062
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I have not.

Mar 17, 2018 07:20 PM
Ambassador
1,986,312
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      Screaming hot market with multiple offers.   They should have picked a "calmer" market with DOM of 60 or 90 days, negotiations required.

      The only take-away I got from this carefully disguised advertisement masquerading as "news", is that the Public is tired of paying the price of a new car to sell their house.  They are going to shop commissions.

Mar 17, 2018 03:02 PM
Rainmaker
645,828
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Had not seen this and it is in my region, had not heard of them before, will have to look into it more. Their website is clean and although you can click through as an agent to register there is no mention how much they charge. They do call it a referral fee, so they may have to be a licensed broker where they are established to receive a referral fee. Interesting concept if they provide solid clients ready to transact. All depends like anything on the return on investment.

Mar 17, 2018 02:27 PM
Rainmaker
480,912
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Hey, I just signed up. See what happens.I have absolutely no problem paying referral fee

Mar 23, 2018 12:36 AM
Ambassador
1,691,238
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

I guess that works if sellers are only interested in commission reductions or sales volume. I'm not a high sales volume agent. Sellers don't use me because I sell the most houses or discount their commission. They use me because I know how to get their house sold; usually in less than 30 days. 

Mar 18, 2018 10:30 PM
Rainmaker
621,159
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Yeah, news is unreliable or bought. I will have to look into that since it is out there and known to the public though. Also new stuff to keep up with. -K

Mar 17, 2018 06:15 PM
Rainmaker
1,043,949
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

From what others are saying, this isn't what it appears.

Mar 17, 2018 04:44 PM
Rainmaker
2,825,992
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

No I haven't seen it previously. 

Mar 17, 2018 04:31 PM
Rainmaker
579,682
MaryKay Shumway
The Kellstrom Ray Agency, Inc. (Est. 1948) - Sister Bay, WI
Door County Wisconsin's Real Estate Expert

I have seen it--and went through it to find out my previous brokerage had registered me on it (haven't been there since 2015).  So they deleted that for me, but it's been out there for a while.  

 

Mar 27, 2018 09:15 AM
Rainmaker
2,517,603
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Interesting.

 

Mar 24, 2018 11:19 AM
Rainmaker
111,645
Eva B. Liland with Century 21 Doug Anderson
Century 21 Doug Anderson - Lancaster, CA
Glad to be of Service

I have heard of them but will not use them, rather keep the 30% myself.

Mar 24, 2018 06:17 AM
Rainer
75,755
Anthony Kirlew
Fiscally Sound - Gilbert, AZ
Helping You Make Fiscally Sound Choices

I had not heard of it. The rules of marketing say "test everything" (unless you currently have enough business)

Mar 22, 2018 09:33 PM
Rainmaker
3,436,124
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Just what we need is another lead generation company! 

Mar 21, 2018 06:26 AM
Rainmaker
522,415
Kathryn Acciari
Cameron Real Estate Group - Shrewsbury, MA
RSPS, SRS, REALTOR(R) Sturbridge-Shrewsbury MA

30% referral fee at close of escrow. In my market, I'd end up with...uh, no.

Mar 20, 2018 05:23 AM
Rainmaker
1,307,327
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

Fortunately, I do not tv.

Mar 18, 2018 11:36 PM
Rainer
67,312
Shawn and Angela Miller
Berkshire Hathaway HomeServices Amabassador Real Estate - Lincoln, NE
Lincoln and Omaha, NE REALTORS®

Sounds like the exact same thing HomeLight is doing.

 

The problems with that is, these companies find the right agent for you based on their previous sales, etc....  Our MLS shut down the stats section of our MLS because someone was giving these companies the stats of all of our MLS agents.  They eventually brought back our MLS stats, but I believe for brokers only.  The MLS sent out a nice letter saying that anyone caught giving out this info could be punished with suspension and what not.

 

These companies like upNest and Homelight are, again, taking advantage of our very MLS stats and reports to gain benefit for themselves, just like Zillow is taking our listings.  It's all a bunch of BS if you ask me.

Mar 18, 2018 05:34 PM
Rainmaker
917,600
Corinne Guest, Managing Broker
Barrington Realty Company - Barrington, IL
Barrington, a Luxury, Country Suburban Lifestyle.

6 families in 3 days and sold. The problem is that's not everywhere so it gives a falso impression. And he sold at 2% less that the irst agent and though that was good. So many things wrong with this...BUT...it sucks the consumer in. Another case maybe of get in the door and be sure you have something to offer and it could be yours?  Didn't Homegain used to do this?

Mar 18, 2018 09:49 AM
Ambassador
3,521,321
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

I hadn't seen it but just watched. Seven POINT five thousand dollars saved?!

Mar 18, 2018 08:46 AM
Rainmaker
830,634
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Redfin, a public company charges 1% for listing. I have seen realtors carry biz cards sayong 0.9% guaranteed to sell or buy back from you.

Mar 18, 2018 07:57 AM
Rainmaker
379,781
Peter Mohylsky
BETTER HOMES AND GARDENS REAL ESTATE - Destin, FL
Your Bucket List Broker in Destin, Fl..

Interesting stuff but NAHHHH.

Mar 18, 2018 07:55 AM
Rainmaker
580,909
Richard Bazinet /MBA, CRS, ABR
AZuRE Team - Realty ONE Group - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Pass

Mar 18, 2018 07:50 AM
Rainmaker
2,820,000
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

I don't watch ads...

Mar 18, 2018 06:49 AM
Rainmaker
1,319,612
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Peter Mark A service that is free for everyone except for the digitally advanced real estate agent. The seller saved 2% on the fee and the agent paid for the service with a hety referral fee and gave a rebate. I can see why the agent couldn't afford to have a photo done to upload it to the social media sites.

Mar 18, 2018 06:33 AM
Rainmaker
641,310
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

So now we get to pay to be rated by yet another 'real estate' company.

Matters not what I think but it does matter what Agents are going to do.

Roll over and play dead, of course.

What's it going to take?

Mar 18, 2018 06:28 AM
Rainmaker
4,145,207
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It is nothing more than a referral network for agents willing to discount their fees.

Mar 18, 2018 05:55 AM
Rainmaker
3,909,263
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Mar 18, 2018 04:05 AM
Ambassador
3,299,814
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Lots of money to be made selling shovels to the miners.

 

Mar 17, 2018 10:01 PM
Ambassador
3,851,380
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Peter Mark - sometimes you pay to get highlighted....

Mar 17, 2018 09:09 PM
Ambassador
3,582,781
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I haven't seen it yet but will go take a look. I don't think I will be impressed.

Mar 17, 2018 05:45 PM