Regentology Vs UpNest: Which platform is best in 2023?
Real estate platforms abound on the internet. The real estate sector has changed as a result of technological improvements. Everything has gone digital, from real estate markets to lead generation. In this blog, we will discuss completely Regentology vs UpNest comparison.
The challenge now is, how can you keep up with the ever-changing technological landscape? It’s easy to become overwhelmed with so many real estate referral networks available on the internet. Consumers use the internet for a variety of purposes, including home browsing and real estate financial guidance. Your role as a realtor is to meet the needs of your clients. Today, we’ll talk about the two platforms that make up the real estate industry:
Regentology and UpNest. Let’s see who provides the greatest service.
Regentology Versus UpNest
Regentology’s Story
Usman Sayed, the creator of Regentology, developed and established the concept on January 1st, 2021. The company is valued at $100 million at the moment. His goal is to match highly opinionated, on-the-go customers with the top professionals for their specific needs. Regentology connects customers with the top real estate, mortgage, and insurance specialists in their area by combining technology and a human-powered approach.
UpNest’s Story
UpNest is an online real estate marketplace that matches house buyers and sellers with top agents who are competing for their business. LessThan6Percent was launched in 2013 by current CEO Simon Ru, followed by UpNest in 2014. LessThan6Percent was founded as a seller-to-agent matching service. Whereas,
UpNest was founded as a buyer-to-agent matching service. Both organizations followed the same approach, incentivizing commission cuts among brokers through competitive bidding.
In November 2014, Ru merged the two companies to form UpNest, which serves both buyers and sellers.
What Regentology Provides to the Real Estate World
Regentology is a referral network that accumulates leads that have been validated for intent. These leads are posted to a real estate agent who will attempt to negotiate a contract with them. Agents cultivate unique relationships with prospects in exchange for a small referral fee when the transaction closes.
A Referral System
Geo-targeted, intent-verified leads regarding budget, schedule, preferred location, and related data are sent to real estate brokers to deliver possible prospects to real estate brokers. You don’t need to worry about digital marketing, Facebook advertisements, or intricate methods to generate leads with Regentology. You only have to pay a referral fee if the deal goes through. This is the starting point in Regentology vs UpNest comparison.
The Services Regentology Provides
i- Services: Buying and Selling
Regentology provides buying services by connecting you with local buyer agents. To receive a free consultation, interested parties must complete the form. Similarly, Regentology makes selling a home simple and quick. It connects you with a local realtor who is a good fit for you.
ii- Services: Home Loans
Connecting with eligible home loan officers is the third service Regentology offers. Prospects are assisted in determining the best type of mortgage package for them by local mortgage partners.
iii- Services: Insurance
Regentology agency partners can assist you in choosing the right homeowner’s insurance coverage to protect your home and belongings in the event of a disaster. To get the best costs and coverage that meets your needs, our insurance partners shop around.
iv- CRM Services: AI-Based
The AI-based CRM from Regentology provides top-notch service. You can import databases from any CRM onto it. You may also import leads automatically. Drip campaigns, task management, and pipeline management are all available through the CRM. Notifications on leads and activities are sent out regularly. Allows you to work with others in groups. Round-robin leads are distributed. There are email and text templates available. You’ll be able to keep track of clicks and bargains as well. Your appointments will be organized using the calendar. Twilio is integrated with the CRM. Finally, you’ll get voicemail and SMS/MMS messages. Regentology’s multi-channel follow-up campaigns can help you automate engaging follow-ups and get engaged responses from your leads. So this point is also important while keeping in mind Regentology vs UpNest comparison.
Packages Regentology Provides
Regentology charges three different types of fees. Packages for a realtor, a team, or a brokerage are available. Aside from that, there are no hidden expenses. Regentology, unlike other platforms, does not charge you on a monthly or annual basis. The fees for these packages are a lifetime, one-time expense.
i- A Single Realtor
This plan charges a $299 one-time fee. On closing of the deal, Regentology charges a 25% referral fee. It assigns a single agent to the realtor who generates intent-verified leads. AI-based CRM will be available to the realtor. Marketing campaigns and automated follow-ups are made easier with this bundle. Support is available 24 hours a day, 7 days a week. The realtor has access to the following departments: Title and Escrow. Inspector of the house. Improvements to the house.
The registration fee is non-refundable.
ii- A Team
This plan requires a $4,999 one-time sign-up charge. On closing of the deal, Regentology charges a 25% referral fee. This package provides lender access, which is not included in the Realtor package. It also comes with 20 agents who offer you, intent-verified leads. AI-based CRM will be available to you. Marketing campaigns and automated follow-ups are made easier with this bundle. Support is available 24 hours a day, 7 days a week. The following privileges are granted to the realtor: Escrow and title. Inspector of the house. Improvements to the house.
The registration fee is non-refundable.
iii- A brokerage
The brokerage plan requires a $9,999 one-time sign-up charge. On deal closing, Regentology.com charges a 20% referral fee. This plan provides access to both lenders and insurance agents, which is not included in the other options. It also gives you access to up to 50 agents who offer you intent-verified leads. AI-powered CRM will be available to you. The product helps the realtor with marketing campaigns and follow-up automation. Support is available 24 hours a day, 7 days a week. The following privileges are granted to the realtor: Escrow and title. Inspector of the house. Improvements to the house.
The registration cost is non-refundable.
What UpNest Provides To The Real Estate World
UpNest helps buyers and sellers find real estate agents in their area. The company pairs each client with thousands of real estate agents in their database. It ranks agents based on their success rate, client preferences, location, and other variables. The algorithm then chooses three to five of the most qualified agents to make commission proposals. The client interviews his or her preferred agents before deciding whether to choose one. During the proposal and interview process, there is no obligation to work with an agent. So this point also has great importance in Regentology vs UpNest comparison.
Referral Network
Realtors sign up with UpNest as it provides agents with a regular influx of new prospects at no expense. Joining the UpNest agent network and rewarding referrals after a successful sale is a price-effective approach for realtors to sell their properties. UpNest connects prospects looking for buying, selling, and home loans with real estate agents.
Selling And Buying Services
i- Buying With UpNest
UpNest agents provide a commission rebate to buyers, commonly called “buyers rebate”. A commission refund, aka buyer rebate, is a cash incentive offered by a buyer’s agent to encourage a potential house buyer to engage them. When working with a real estate agent, home purchasers do not pay any commission fees. The commission payments given to seller and buyer agents are covered by the seller.
ii- Selling With UpNest
If one chooses to sell through an UpNest agent, you will be charged the same realtor’s commission as if you had found an agent on your own. UpNest agents decide their commission fees, typically 5-6 percent of the sale price. Half of it goes to the listing agent and half to the buyer’s agent.
How Much UpNest Costs
UpNest makes a profit through the agent’s commission when the deal closes. The rate for that is a 30% referral fee.
i- UpNest Claims It’s Free But Is It?
UpNest claims it’s costless. It is, however, a subscription-based service. If you’re a buyer or a vendor, you’ll be paying indirectly. This is mentioned in several UpNest reviews. UpNest will receive 30% of the commission paid by the partner agent UpNest will introduce you to. If you’re selling a home, the commission is deducted from your proceeds. If you’re a home buyer, the commission is included in the purchase price.
ii- Savings Can Vary From High To Absolute Zero
UpNest’s model was designed in a way that customers can save money. Agents compete for your business by bidding against each other. Agents can lower their commission rates or offer rebates to make their proposals more appealing. Nothing is assured, though, because commission rates aren’t pre-negotiated. People have discovered reductions ranging from thousands of dollars to practically zero.
Bottom-Line: To Go With Regentology Or UpNest?
To select the best real estate platform, go through the article again and decide for yourself. UpNest is an 8-year-old platform with good ratings. Whereas, Regentology has shown impressive growth. It has achieved a 97.76% satisfaction ratio as of March 2022.
UpNest promotes no expense or price associated with using their service. However, this is not the case. You must pay the commission fee for your agent and the buyer’s agent if you’re selling through UpNest. Regarding cost savings, there’s no guarantee you’ll save money because most of the pricing and fees are set by the agents. Regentology, on the other hand, charges only a one-time sign-up fee and a referral fee of 20%–25%. This is 5% less than UpNest. So this concludes the Regentology vs UpNest comparison.
If you need intent verified, geo-targeted leads, and AI-based CRM, then Regentology is the best affordable option. Also read our blog on Pay at Closing For Real Estate.