Estately secures $450,000 in funding

Searching for-sale listings on Estately.com

Estately Inc., a Seattle-based real estate brokerage company that offers a map-based property-search platform, announced that it has received in $450,000 from "a small group of online entrepreneurs."

The company, which launched as ShackPrices.com in December 2006, works on a referral basis by connecting consumers with real estate professionals at other brokerage companies. The company charges a 20 percent referral fee.

"The new funds will be used to allow Estately to grow into new markets, further expand on Estately's feature base, and build out distribution channels," according to the announcement this week.

Galen Ward, Estately co-founder, said he could not reveal the company's specific expansion plans or name the investors who contributed funding. Ward and co-founder Douglas Cole had funded the company since its launch.

The site allows users in Washington state to view property information pulled from the Northwest Multiple Listing Service, and searches can be narrowed based on text searches for keywords, for example, or by proximity to bus and light rail lines. Users can also search for homes within or nearby specific neighborhoods, or search by ZIP code and city. Users can also schedule property viewings.

Estately has a Realtor ranking system, and Realtors who participate in the company's referral program are screened based on experience, recommendations, and reviews and interviews.

***

What's your opinion? Leave your comments below or send a letter to the editor.

All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.