BrokerageIndustry News

Estately enters six more states

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After doubling the number of major markets it worked in in 2012, Seattle-based online real estate brokerage and referral site Estately Inc. announced that it has entered six new states: Arizona, Maine, New Hampshire, Ohio, South Carolina and Vermont. Estately co-founder and CEO Galen Ward talks about the brokerage's structure and growth. At the end of 2012, the 6-year-old firm was in 26 large metros, many along the West Coast, including Seattle, Portland, the San Francisco Bay Area, Los Angeles, Orange County and San Diego. The firm, which powers its home search with listings from 35 multiple listing services in 15 states, started 2012 in 12 markets. "We're growing like crazy right now," said Galen Ward, CEO and co-founder of Estately. Estately has a referral-focused business model. That means the brokerage prefers to refer business to the 550 current partner agents in the markets where it has listings, taking a 30 percent cut of buyer and seller deals it sends on from ...