Industry NewsTechnology

Estately: We’re in the black

CEO details cost-cutting, revenue-boosting measures
Published on Oct 26, 2009

Estately Inc., a Seattle-based real estate brokerage company that works on a referral basis, says it reached profitability in the third quarter.Company founder and CEO Galen Ward said in a blog post that the company achieved the milestone by slowing down its expansion into new markets, freezing new technology purchases, boosting conversion rates, and shipping two "white label" products, or unbranded versions of Estately.Until recently, Ward said, "we considered white labeling to be a potentially fatal distraction." But he had a change of heart after talking to the founder of another company, NetConversions, that got through the dot-com crash by doing side projects.Estately launched a search service earlier this month for Vancouver-area real estate brokerage Sutton West Coast, Ward said, and has an agreement with Seattle-area brokerage Findwell to power their search.White-label deals generate only a small part of the company's revenues, Ward said, but because they a...

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