A real estate tech firm that sifts through agents’ online leads and lets them sell listings they don’t want just raised $12 million in a funding round.
Startup company Agentology provides a “rapid response” service to agents, by using sales reps to vet buyer and seller leads and referring these leads to other brokers, who are willing to take the jobs. In return, the referring agent will receive 25 percent of the commission on a successful deal.
Co-founder David Tal told Techcrunch that the app is meant to provide a management system for agents still adapting to online listings services that have shaken up the real estate industry.
“Part of the reason the industry is broken is that the industry went from one extreme to another,” Tal said. “You had to do all of these things face to face, now you can do all of these things at their fingertips so people don’t have any loyalty to any provider or any service individual.”
Agentology ends up costing agents between $4 and $6 per lead, the company told Inman in June.
The startup’s $12 million round, disclosed Tuesday, was led by venture capital firm Defy.vc. The co-founder of Defy, Trae Vassallo, will join Agentology’s board of directors with Jenny Lefcourt, who led the company’s seed fundraising round under Freestyle Capital. It raised $4.5 million in an earlier funding round.