BrokerPulse

RealTrends Q32021 BrokerPulse sees brokers still optimistic about the market, wary of competition and wondering when inventory will rise.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Knock.com’s Sean Black on the transaction revolution

Real estate is on its third revolution, from the digital revolution of the early 2000s to the information revolution kicked off by Trulia and Zillow to today's transaction revolution.

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The RealTrends BrokerSource and HousingWire OpenHouse newsletters deliver twice weekly information on trends, strategies, analysis, people, and news shaping the real estate industry.

Agent

Side raises second round of financing; doubles valuation to $2.5 billion

Raising over $200M In three months, Side prepares to enter 15 new states by 2022, paving way for IPO

Side announced the company has raised an additional $50+ million, more than doubling its valuation to $2.5 billion just three months after being valued at $1 billion.

Led by Tiger Global Management, with participation from ICONIQ Capital and D1 Capital Partners, this additional fundraising comes off the heels of a $150 million Series D round led by Coatue Management in March of this year. Side is now backed by the three top technology initial public offering (IPO) underwriters. Total combined funding for Side now amounts to well over $250 million with Matrix Partners, Sapphire Ventures, Trinity Ventures, and 8VC leading earlier rounds.

RealTrends spoke with Co-founder and CEO Guy Gal for an exclusive peek into this company’s unique business model, his thoughts on the new wave of technology-driven real estate companies and the company’s original $1 billion valuation. The RealTrending podcast will go live on Tuesday, July 6.

This latest wave of capital supports Side’s national expansion efforts as the company prepares to enter 15 new states by the end of 2021. Side reported a more than 200 percent year-over-year increase in agent represented home sales across its three operating markets of California, Texas, and Florida. By the end of 2021, Side is expected to further expand and close over $20 billion in home sales. New funding will accelerate Side’s growth for its technology brokerage platform, while setting the stage for a future IPO.

“Today’s financing signifies confidence in our vision to reinvent the traditional brokerage model by partnering with the very best real estate agents to create boutique brands that are the service leaders in their market,” said Gal. “We are excited to partner with more agents across the country, increase investment in our existing agent partnerships, and further support more top real estate professionals in serving buyers, sellers, and renters better than anyone else from coast to coast.”

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