Real Estate Discovery Platforms - Ranking Real Estate Agents

Part
01
of three
Part
01

Company Analysis - Homelight and RankMyAgent

Homelight is a US company that was founded in 2012 while RankMyAgent is a Canadian-based company founded in 2013. Both have mainly positive reviews. Details on these reviews and more have been outlined below.

HOMELIGHT

RANKMYAGENT

  • RankMyAgent is a privately-held company that was founded in 2013 as an online platform for Canadians interested in buying, renting, or selling homes.
  • It supports these home buyers/sellers by "connecting them with reputable real estate agents whose services are endorsed through the portal’s ratings and review function."
  • The company is headquartered in Toronto, Ontario where it has less than ten employees.
  • So far, RankMyAgent has not participated in any funding rounds neither are there any estimates on its revenue/valuation.
  • The company has also not offered any information on its investors to the public.
  • Reviews of RankMyAgent could only be found on Facebook. There, the company is rated 4.5/5 stars based on eight ratings - mainly positive.
  • While most ratings had no comments, the few with comments expressed being satisfied with the platform.
  • There was only one negative review from a user who had a distasteful experience with an agent found on RankMyAgent.

RESEARCH STRATEGY

In order to gather the requested information on HomeLight and RankMyAgent, we first turned to their respective websites. This avenue helped us get their headquarters and year of establishment. Next, we examined company insight databases including, but not limited to Crunchbase, Pitchbook, and Angel. Homelight was found on all three platforms, therefore, the company's total funding amount, estimated revenue, and investors could easily be ascertained. RankMyAgent, on the other hand, did not appear on any of these databases. As an attempt to further find any financial information on RankMyAgent, we scoured financial news websites such as Forbes, Inc, and Business Insider. While some of these websites featured RankMyAgent, they mainly focused on what the company does, nothing was provided on its total funding amount, estimated revenue, investors, or reviews. As a last resort, we explored RankMyAgent's social media - LinkedIn and Facebook for any shared articles on their financial success or similar. Again, this was a dead end. As a result, the company's funding amount, investors, and revenue could not be found.


Part
02
of three
Part
02

Company Analysis - TrustScout and REAL Trends

TrustScout was recently founded in November 2018. Real Trends is located in Castle Rock, Colorado and was founded in 1987. As TrustScout has only recently started operations, there was little public information about the company. Real Trends is featured in the media regularly, in the likes of Yahoo and PR Newswire.

TRUSTSCOUT

REAL TRENDS

RESEARCH STRATEGY

We were unable to find out the value of the funding raised, revenue or valuation, or unbiased customer reviews of Trustscout. We began our research looking at Crunchbase for funding and revenue information. While, we were able to find out that TrustScout has raised one pre-seed round of funding, there was no information on the details of the deal. As we now knew that Launch had invested in TrustScout we reviewed their website for information on the deal. We hoped that Launch would provide details of the deal on its website or in a press release, as some accelerators do. We changed direction and looked through the likes of Bloomberg and Business Wire to see if Launch or TrustScout had released anything publicly about the deal.

To try to find TrustScout's revenue we searched Bloomberg and Business Wire in the hope that a press release would provide information on the company's revenue or valuation. We next searched Crunchbase, Hoover, and Zoominfo to see if they provided information on TrustScout's revenue. We were unable to find a Hoover or Zoominfo page for the company. Crunchbase provided insights into the founding and investments in the company but it did not list an estimate for the revenue. As the company was only founded in November 2018, we concluded that the lack of information is due to how recently the company was founded.

We were unable to find any funding information for Real Trends, this may be because the company is established and was founded in 1987. We began our research by searching Real Trends' website, in the hopes that the company would have press releases or funding information directly on its website. Next we search Crunchbase, as funding details will normally be stated on Crunchbase profiles. Unfortunately, Real Trends does not have a Crunchbase page. Finally, we searched the likes of Bloomberg and Business Wire for press releases by Real Trends or any investors.
Part
03
of three
Part
03

Company Analysis - Upnest and TopAgentsRanked

Upnest was founded in 2013 and has raised a total of $2.8 million in funding, and has an estimated $2 million revenue annually. TopAgentsRanked, on the other hand, is a division of Referral Exchange that offers marketing and lead generation services for real estate agents across the United States, making an estimated revenue of $15 million annually.

UPNEST

TOPAGENTSRANKED

  • TopAgentsRanked is the direct consumer website of Referral Exchange Inc. that offers marketing and lead generation services for real estate agents across the United States.
  • They combine innovative technology, personal customer service, and a nationwide network of 25,000+ top-performing Real Estate Agents to connect home buyers and sellers with the right three local agents who best t their needs.
  • Headquarters: 425 Bush St. Ste. 200, San Francisco, California, 94108, United States.
  • Referral Exchange Year Founded: 2004.
  • Funding Raised: None.
  • Main Investors: None.
  • TopAgentsRanked has an estimated revenue of $15 million annually.
  • Customer Reviews Analysis:
  • Other Helpful Insight:
    • Compared to the ratings provided by Better Business Bureau with TopAgentsRanked main organization website, Referral Exchange, most reviews are about the one-time fee to get a list of leads which gave them a 1-star reviews.

RESEARCH STRATEGY

We were unable to find the value of the funding raised and investors of TopAgentsRanked. We began our research looking at Crunchbase for funding and investors information.

We began our research by exploring UpNest and TopAgentsRanked websites. Our primary focus was to find pre-compiled information about their headquarters location, year funded, and amount raised, main investors, public estimates of revenue, and customer reviews. We did not find pre-compiled information in their respective websites, so we broadened our research through corporate online databases in finding business information about private and public companies like Crunchbase, Hoovers, ZoomInfo, among others and found all the data for UpNest. Home Openly and Better Business Bureau provides customer reviews for Upnest while Shoppers Approved provides customer reviews for TopAgentsRanked.

Since TopAgentsRanked is a division of Referral Exchange, we reviewed their website for information on the deal. We looked for details from press releases of Referral Exchange for funding and investors, but we did not find any useful information. We also searched for articles, survey or consumer reports, profile analysis such as Bloomberg and Business Wire for TopAgentsRanked or Referral Exchange to find if they have made public their funding.
Finally, we explored Crunchbase, Hoovers, Angel.co, and ZoomInfo to see if they have provided information on TopAgentsRanked or Referral Exchange funding and investors. Crunchbase mostly provides insights into the funding and investments of companies but it did not list any funding for Referral Exchange. We concluded that the company may not have made it public for internal reasons.
Sources
Sources

From Part 03
Quotes
  • "UpNest™ was born out of the belief that there could be a more transparent, efficient, and cost-effective way for home buyers and sellers to compare and hire real estate agents. Since launch, we have facilitated billions of dollars in home sales, and saved consumers millions of dollars in commissions. We are changing the real estate industry one transaction at a time."
Quotes
  • "TopAgentsRanked.com is our consumer-direct website that was started with the simple idea that finding the best real estate agent in your area shouldn’t be difficult. By answering a few questions, we can match buyers and sellers with the best local agents who fit their needs."