In 2021, real estate accounted for 16.9% of the U.S. national gross domestic product — it’s goes without saying that it’s a huge industry. Because of that, it’s a popular industry ripe for technological disruption.
What we’re seeing now is a seismic shift toward technology adding efficiencies and removing redundancies in the home buying and selling process, but in partnership with the agents and brokerage.
Many startups have opted to build new technology for agents and brokerages in an attempt to help meet record housing demand last year and ensure homebuyers and sellers can navigate the complex, continuing to change the market environment.
Tech firms on the Inc. 5000
This year, a number of these real estate agent- and brokerage-focused tech firms made the Inc. 5000 , a list of the fastest-growing companies in the U.S. These companies are offering innovative ways to buy and sell homes — joining a list of startups that want to expedite and improve the traditional agent model.
Ideal Agent earned the highest real estate technology spot in the rankings as the 73rd fastest-growing company in the U.S., posting a 5,514% average growth rate over the past three years. Through its platform, the company matches buyers and sellers with local and national agents from its brokerage network and says it “streamlines transactions and provides commissions as low as 2%.”
Last year’s category leader, OJO Labs, which offers a platform for buying and selling homes, came in at the third-highest spot for this category at No. 355, with 1660% growth. Last year the company entered the list in the top 50, at No. 48, with 6767% growth.
Despite the market shift and recently announced layoffs, iBuyers and cash-offer based service providers, known as Power Buyers, on the list include: Orchard (2,350%), Ribbon (3,172%) and The San Diego Home Buyer (2,749%) and HomeLight (1,663%).
Keeping Current Matters, a company providing marketing content and educational resources to agents, also made the list at No. 3174 and a 168% three-year average growth rate.
The complete list of the fastest growing real estate tech companies on the Inc. 5000 list are below: