Table of content

Overview of UpNest

UpNest Pros and Cons

Pros

Cons

Alternatives to UpNest

UpNest Vs Richr

Upnest Vs Homelight

Upnest vs Clever

Upnest Vs Redfin

FAQ

What is UpNest Realty?

How does UpNest work?

How much does UpNest cost?

How does UpNest make money?

Is UpNest legit?

What does UpNest do?

Are UpNest users real?

Does UpNest sell commercial property?

Is UpNest a good deal for seller?

What is UpNest referral fee to agents?

How do I delete my UpNest account?

Finding a qualified agent that isn’t just in it for the money, is going to care about the sale of your home and will give you a reasonable commission rate is challenging. Unless you personally know a handful of agents in your marketplace, you’ll need to start doing online research, hosting interviews, and comparing brokerages to make the best choice. That’s where UpNest came in. With an UpNest referral fee network, all you need to do is fill out your information to be matched to agents that will compete for your business. But if saving money on your home sale is the goal of this process, read on to find other alternatives as this option doesn’t guarantee you any extra pocket change.

Overview of UpNest

UpNest is a free service for property owners to find an agent to help with their purchase or sale in their local marketplace. While you don’t need to pay UpNest’s commission directly, agents will be using the commission you agree to pay them, to give UpNest a kickback of 30% of that sale. UpNest competitors with agent-matching services can range from 25%-35% in referral fee structures.

If you’re looking for UpNest real estate reviews, you’ve come to the right place. But first, here’s a quick overview of the 5-step process so you know exactly how it works.

1. If you’re considering UpNest, you’ll need to sign up and enter details about your home selling or buying journey on their website.
2. Once you enter your information, your profile will be compared to agents in your marketplace based on your needs and preference. Agents are given your information to determine if they’re willing to give up 30% of the sale price for your business.
3. Within hours, you can get 3-5 UpNest realtor proposals, with more rolling in over the next few days. You’ll typically get the most within the first 24 hours. These proposals can include anything from commission quotes, rebate promises and what will make it worth your while.
4. You can take your time to ask the agents more questions, compare their offers and research testimonials to determine the right fit for you.
5. Now you get to decide if you’re walking away or picking an agent. It’s no obligation so there’s no harm if you don’t feel right about any of the agents that showed an interest. If you found one you like, you just need to sign the paperwork to get started.

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UpNest Pros and Cons

UpNest is a preferred service that can help property owners find the right agent that will work for them. It’s a feel-good moment when you have multiple options, all bidding for your business. However, as with most real estate brokerages, there are pros and cons based on the upNest reviews.

Pros

• You’ll have at least 3+ agents to choose from that offer various incentives if you decide to work with them.
• You’ll get the full-service experience, potentially at a discounted rate. Some findings were only 0.5-1% of the sale price to outbid another agent.
• The dashboard makes it easy for you to compare agents.

Cons

• There are no guaranteed savings, and UpNest does not represent your best interests when it comes to negotiations. It’s up to you to negotiate with the agent and trust their promise.
• UpNest takes 30% of the agent’s commission, disinteresting them after working with a lengthy sale. With less money on the table, they’re less motivated to treat you like a full-paying client.
• UpNest advisors are reportedly difficult to reach.

When it comes to UpNest buyer reviews, one even reported they never got their promised cashback, and UpNest placed the responsibility on the agent they matched them with.

“Disappointed with this service. I purchased a home…found my realtor through Upnest. After buying the house…I received an email saying that I need to contact my agent and ask them for the refund. Why should I have to contact them? This is unacceptable. I’m extremely displeased with this service. *Update* It’s been over a month since we moved into our new home. We never received a refund!”

Alternatives to UpNest

UpNest competitors range from other agent matching services with referral fees to your traditional flat fee brokerage. Here are a few alternatives that include hands-off virtual tools to assist you with your purchase and sale or discounted agents you’ll be matched to work with.

UpNest Vs Richr

Property owners often fall into two categories when selling their investment or home. Some aim to have the sale be as stress-free as possible while someone assists. This comes with your traditional agent at a 5-6% fee. Then, you have the property owner who feels confident about the process of using online resources. If you’re the latter, Richr is a better option that will save you thousands. Let’s compare the average Florida home, for example:

When using this service, the UpNest commission you’ll need to give an agent as a seller can vary. There are no guaranteed savings because this is a matching service. Agents can offer various incentives, and most UpNest reviews state it only saved 0.5-1%. This means on a $350,000 home sale, they’d still be paying around $14,000 on the best case scenario price of 4%.

When using Richr, property owners get to list for free on MLS and get a 2% cashback on any purchases, minus minimal closing costs. You can even upgrade to the $499 title settlement option as well. With a robust concierge service and real estate documents provided, this option is better suited for property owners that can navigate the sale with the help of support, without the price tag of an agent.

Upnest Vs Homelight

Homelight is similar to UpNest in the sense that they are both agent-matching services. However, Homelight offers no added savings but has an extensive network of agents for more choices and coverage. There have also reportedly been no quality control, and just anyone with a license can get onto the network.

Upnest vs Clever

Clever is an interesting comparison because they both match you with an agent. The big difference is that you’ll have to pay 1% of the sale price to Clever’s agents (or $3,000 if the sale is under $350,000), but there are not many to choose from. You’ll be paired with an agent from a known brokerage such as Keller Williams, RE/MAX or Century 21. UpNest matches you with more agents that will be bidding for your business and offering incentives along the way – whereas Clever’s pricing is already set.

Upnest Vs Redfin

While UpNest is an agent-matching service, Redfin is a discount brokerage that offers similar but basic services that traditional agents do at a lower fee. Compared to UpNest com, they offer a 1.5% commission and lower it to 1% if you buy with them too. UpNest has no guaranteed savings and only matches your profile to other agents where you can negotiate your commission rate.

FAQ

What is UpNest Realty?

UpNest real estate is a free service that connects you with a local agent to assist you with a home sale or purchase. You’re not only matched up with one agent but multiple that offer a variety of incentives, such as discounted fees for sellers or cashback for buyers. This is typically how they’ll compete to win you over. But if you’re using their service to compare savings, you’ll have better luck elsewhere.

How does UpNest work?

When it comes down to how does UpNest work, signing up for the first time prompts you to provide certain information, whether you’re a buyer or a seller, for them to help you. For example, if you’re a seller, you’ll be asked for your address, contact information, timeline and your property’s information. From there, you can expect proposals from agents to start rolling in wanting to work with you for a price. They will try to outbid each other with promises of savings, but keep in mind the closing fees and buyer’s agent commission involved.

As a buyer, a similar process ensues. You’ll need to describe the type of property you’re looking for, if you already own a home and plan to sell it, and your timeline for the move. During this process, whether you’re selling or buying, an UpNest advisor is assigned to check in to ensure that your selected agent matches your expectations.

How much does UpNest cost?

UpNest has agents bidding for your business which is what determines the cost of your listing fee. Unlike your typical 6%, the standard fee is around 2-2.5%. Keep in mind, you still have to think about offering buyers’ agents a piece of the pie – the typical rate at 2.5-3% as well. At that rate, selecting a full-service traditional agent may be better suited for your needs. If the discounts were the desirable feature, consider a service like Richr that helps sellers list for $0, and buyers get 2% cashback on their purchase.

How does UpNest make money?

For UpNest to fund their company that provides agent-matching services and advisors that check-in once in a while along the way, they work on your typical referral system. It works the same way for traditional agent referrals – if Tommy from Chicago refers his client Sally from Florida to Agent Annie, he’ll ask for a 25% referral fee. If Sally buys a $450,000 home, Tommy will receive 25% of the buyer’s commission from Agent Annie.

The same goes for UpNest – except their referral fee is 30%. If you choose an agent they matched you with, a percentage of the agent’s commission will go to them in exchange for the referral once the sale is firm. Another way UpNest earns cash is through its home loan service. Just like most lenders, you’ll need to be studious when doing your research about their rates.

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Is UpNest legit?

Yes, UpNest is a legitimate business that is free for buyers to use and sellers to find an agent. Sellers will have to pay the agreed-upon commission fee, where UpNest will then take a referral fee from the agent for their matching services. The company was founded in 2014 with headquarters in both California and Indiana. Since its inception, the company has claimed to work with over 500,000 clients while matching 14,000 agents.

What does UpNest do?

UpNest is an agent matching service that provides real estate agents with a way to gain exposure to clients, leading to more deals. To turn a profit, UpNest for agents charge 30% on any closed business. The enticing offer is that these agents don’t have to pay a dime upfront until they receive a guaranteed paycheque.

On the property owner side, UpNest is free to use as a buyer to match you with an agent that can help you find a home or investment property. As a seller, agents will compete for your business by offering lower commissions or better incentives. Often, your savings are minimal at 0.5-1% of the sale at most. This service is best for those looking to work with a traditional agent but doesn’t know who to hire.

Are UpNest users real?

Yes, UpNest users are real, and they even leave reviews on UpNest, Google and the Better Business Bureau to prove it. This licensed real estate brokerage has headquarters in both Indiana and California, and they must hold a license to collect the referral fees from agents. That’s how they make their money, after all!

Does UpNest sell commercial property?

UpNest does not directly sell commercial or residential properties. Rather, they match you with an agent that is able to provide you with the service you are looking for – commercial properties included.

Is UpNest a good deal for seller?

If you’re looking to make the most out of your home sale and hoping to score a deal on agent commission, UpNest isn’t your best resource. You still end up paying 5-6% of the sale price, half going to your sale agent while the other goes to the buyers. Although UpNest encourages the agents, they connect you with to lower their commission, this isn’t always the case. You may find two for the same commission price, but one offers more fees and has more testimonials than the other. If what you’re looking for is to list your home for free online, then Richr is a better option for providing you with the real estate documents and MLS access you need.

What is UpNest referral fee to agents?

UpNest realtors give the agent-matching service a 30% referral fee for any deals that are closed. If they are a seller’s agent, this means they’ll also have to provide an agreed-upon fee to the buyer’s agent as well. While UpNest may seem like they’re able to give you savings, their kickbacks are minimal compared to the 2% cashback as a buyer at $0 commission as a seller for a service like Richr.

How do I delete my UpNest account?

Due to UpNest agent reviews, more property owners choose to sell themselves and save more money on their sale. Since 51% of buyers use the internet to find their home anyway, all they need is an MLS service that lets them list for free, like Richr. If you’d like to delete your UpNest account to save on your home sale or purchase, you can’t do it without speaking to someone. You’ll have to email support@upnest.com with the subject line “Membership Termination Request” and deliver written notice.

UpNest is a fantastic resource for homeowners looking to start interviewing agents in their local area. They’ll be matched with different profiles and incentives to choose from, often offering full-service. If your goal is to save money, UpNest isn’t the ideal business of choice. Richr provides buyers with 2% cashback on their purchase and lets homeowners list on the MLS for free, empowering them to make the most of their investment. Now all you need to do is decide what type of property owner you want to be – the one that earns their equity or gives it to someone who doesn’t care as much as you do about your home sale.