Source: Yahoo! —
UpNest is an online platform that helps people find a real estate agent in their area. The service is free for both buyers and sellers. After entering some details about your needs, you will receive proposals from members of UpNest’s network of agents in your city.
Because UpNest asks multiple agents to bid for your business, agents are in competition to work with you. In theory, this should deliver savings— though that may not always be the case. Here’s a closer look at how it works.
What is UpNest?
UpNest is a free online marketplace that matches potential homebuyers and sellers with a real estate agent in their area. The company puts local agents in touch with buyers and sellers, competing for their business with proposals and commission rates that the client can choose from.
In order to work with the company, agents must meet certain criteria. These include: a current real estate license in good standing, at least three years of experience, a minimum of six transactions over the last 12 months and positive online reviews. The company says it partners only with agents who perform in the top 5 percent of their local markets.
Since June 2022, UpNest has been owned by Move, Inc., the same company that operates Realtor.com. It is now branded as “UpNest by Realtor.com.”
How does UpNest work?
UpNest has a network of real estate agents spanning all 50 states, plus the District of Columbia. Here’s a breakdown of how the process works:
- First, you submit a request online.
- You’ll then get a phone call from a representative of the company to discuss the details of what you need.
- Within 24 hours, you will receive bid proposals from three to five local agents who want to work with you. Proposals are different for sellers and buyers and will include things like experience, services offered, commission rates and more. They typically include a video greeting from the agent as well.
- You compare the proposals, interview the agents you’re interested in and choose one to work with.
- The service is free, and users are not obligated to accept any of the proposals they receive.
Selling your home with UpNest
Home sellers are matched with listing agents who have a successful sales record in their area. You can review an agent’s years of experience and track record as a part of their proposal. Common services offered by UpNest selling agents include open houses, home staging, listing websites, virtual tours and comparative market analyses.
Proposals will also include commission rates — crucial, because in a real estate transaction, it’s the seller who pays Realtor commission fees. Your potential savings on listing fees varies depending on the agent you choose and the market in your area. UpNest does not negotiate any guaranteed savings on your behalf.
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