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Read more: Commercial real estate market outlook in California a mixed bag
“We’ve been around for a number of years, and gone through a number of iterations,” Kasle told MPA during a telephone interview. “At the core, the thought of our founders still perseveres – which is a social network just like all the other social networks are. And it comes with the same basic features you’d expect in social networks – the ability to post, like, follow and you can do video or what have you.”
Just like the popular Facebook or Instagram, Radius’s network is a beehive of activity, Kasle suggested: “We see a fair amount of activity across the country with agents interacting with each other – showing off their newest listings or their best months, that sort of thing,” he said.
Beyond the visuals comes the brass tacks: “The real business driver, why someone should join the network – other than expanding their own personal network – is we have a referral exchange that we call The Marketplace. We don’t take any commissions or cut off of that; it’s a free service that we provide where we have a very simply DocuSign flow where an agent in Idaho can sign a DocuSign agreement, and an agent in California signs an agreement, so both become members of the Marketplace and any referrals they exchange through can set their own terms – whether it’s 20%, 25% or 30% commission referral.”
Just how much activity is being seen? “Over the past three-and-a-half, four years, we have seen $25 billion in properties referred,” Kasle said. “We don’t have insight into what closed or how much in commissions was paid out, but that’s substantial volume that’s potentially being transacted across there.” In the first quarter of this year, Radius helped real estate professionals and their teams close more than $400 million in sales, he added. Along the way, the company has doubled revenue in the last five months, with 300% revenue growth year-over-year.
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