Ben Kinney of Ben Kinney Companies and Chris Suarez of Xperience Real Estate Network announced the launch of PLACE Inc. PLACE launches on day one with 41 of the top producing teams across the US and Canada from a variety of brokerage brands. In 2019 these teams produced a combined $41 million in revenue, over $1.5 billion in closed sales volume, and over 4,500 homeowners helped.
PLACE Inc. is a full service real estate and technology platform that partners with the top 1% of agents and teams by helping expand their profitability, value proposition to the consumer, and grow their unique local brand, all without having to leave the brokerage where they are currently affiliated.
PLACE provides a variety of business services to its partners including a proprietary technology platform, accounting, payroll, HR, legal, marketing, brand development, and talent acquisition. It also provides industry-centric services including transaction management, customer experience management, lead generation and conversion, agent training and coaching, and most importantly a unique agent opportunity model that makes recruiting easier and retention simpler.
Real Estate Agent Value Proposition
“As demonstrated by the constant turnover in the industry, the real estate professional and top real estate teams have been searching for increased value and support running their local businesses. Chris and I have spent the last year developing the ‘PLACE Inc Agent Opportunity Model’ to unlock a variety of unique benefits based on their personal production during the previous year,” said Kinney.
Depending on the production level achieved, each agent will earn a specific title providing access to benefits like location-based profit share, revenue share for recruiting, equity options and employee equity purchase plans, company subsidized healthcare, financial planning, real estate investment opportunities, benefits packages as well as the opportunity to become paid trainers or coaches. In addition, agents receive transaction help, listing marketing, buyer and seller leads, technology, presentation materials, and the proven models and systems known for powering high agent productivity.
Suarez added, “We had to reimagine and reintroduce a value proposition for the real estate agent that could be so strong no one would ever want to leave.”
Suarez and Kinney are confident the Place, Inc model allows real estate agents to transition from having a job to owning a true business while building multiple streams of income, something Kinney refers to as “building buckets of wealth.”
PLACE Consumer Value
PLACE is committed to providing a new level of value to the consumer through technology, transaction transparency, removing unnecessary lender fees, title and escrow charges, and by providing a consistent, predictable experience to the consumer regardless of geographic location or price point.
Today, mortgage, title and escrow, and other consumer focused services are live and available in a variety of markets as Place continues to expand across the US and Canada.
Mortgage will include no lender fees, no origination fees, no processing fees, no administrative fees, $1000 credit at closing, and highly competitive rates. Over the past 12 months the mortgage offering has been in beta across multiple states with massive success under the brand BKCO Mortgage.
Title & Escrow has launched with a unique offering of a Flat Fee Escrow under the brand BKCO Title and Escrow.
Suarez and Kinney built this unique service, savings & technology model to give the customer help (leverage) against the rising costs of purchasing and maintaining a home.
Real Estate Industry Value Proposition
PLACE is a brokerage agnostic real estate model for the top teams and agents across the country – already operating in 50+ cities, 21 states, and 4 countries.
Although real estate start-ups and launches have become synonymous with debt and VC funding, the partners launch on day one with zero debt, considerable revenue, and, unlike their competitors, profitable.
PLACE launches with top teams and agents partnering from multiple brokerage brands and they expect to have long term relationships with top agents and teams within all major real estate brands.
“Just as Uber doesn’t own the car and Airbnb doesn’t own the home, at PLACE Inc. our partners don’t have to own or be associated with any specific brokerage brand to take advantage of our unique platform and added benefits being provided to both the real estate professional and the consumer,” says Kinney.
PLACE will be an option for top real estate brokerages, independents, and franchises to increase retention of the top teams and agents. While other brands compete with major brokerages by convincing top teams to disassociate and launch their own independent, PLACE will work in partnership with teams and agents to associate with the brokerage brand of their choice.