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Real estate fintech startup Upfront has launched a nationwide service to provide healthcare for the industry, Inman has learned exclusively.
Care by Upfront will complement the company’s core product, a capital extension service that allows brokers to provide funds to agents for a range of needs based on pending commissions.
“Care by Upfront will provide national healthcare coverage across all 50 states, competitive group rates for individuals, 1099s, and businesses of all sizes, and supplemental benefits, including critical illness, dental/vision and more,” according to a May 6 statement.
Like its capital resources product, Care by Upfront can be co-branded for the brokerage, which chooses which plans to offer, according to the company. General care providers that brokers can consider include Cigna, Anthem and PHCS, while vision and dental services can be offered through VSP, Delta Dental and Solstice.
Healthcare remains a difficult hurdle for many agents to obtain as they ramp up and evolve their businesses. The majority of practicing sales professionals are 1099 contractors, and only a few brokerages offer suitable health benefits.
The Real Brokerage, a fast-growing technology-forward brand, started providing access to health benefits through a group purchasing plan in 2023.
Anywhere, then Realogy, announced a benefits plan in 2019 called Spark, Inman reported. The company describes its program as a “membership association,” meaning agents — who are typically independent contractors — can opt into and sign up for whichever benefits suit their specific needs.
Upfront was part of the first cohort supported by Equity Angels, a minority-focused entrepreneurship accelerator focused primarily on proptech and real estate-adjacent startups. The organization’s second cohort was introduced in April.
“Healthy and financially secure agents are more focused, productive and successful, which directly translates to increased transactions and revenue for brokerages,” said Mukund Venkatakrishnan, co-founder of Upfront, in the statement. “By providing both financial and healthcare solutions, we’re empowering agents to build successful and fulfilling careers, and we’re enabling brokerages to attract and retain the best talent in the industry.”
Upfront helps agents handle a variety of financial outlays, which can range from marketing commitments and lead generation to association dues and continuing education. Software, clothing, vehicle expenses, conferences, subscriptions and other necessities for business growth are rarely provided by brokers, and an agent’s self-employment status can limit institutional funding options.
Brokers can benefit by working with Upfront as a recruiting appeal, and the company tackles the administrative chores that accompany deploying its offerings.
