2019: A Recap of ReHive’s Year

We just wrapped up 2019 and wanted to take a step back and look at some of the stats in the context of the entire year.

In effort to make this post something more than a pat on the back, I’ve done my best to explain why these 4 metrics are ones that reflect progress in a changing industry and a better experience for customers in the future.

Average savings of $5,255

Saving people money was the core reason we started ReHive so it’s a metric we keep an eye one. Introducing our flat fee in 2019 meant that we saved homeowners an additional thousand dollars on average compared to savings in 2018.

Our clients in all stages of life used the savings to their advantage. Some with growing families leveraged the extra equity into a larger down payment for a bigger house, and others added it to their retirement nest egg.

Average 61 Days on the market.

After money, time is always on the minds of our clients so in 2019 we introduced a new consulting service included in our flat-fee that gives clients a clear picture of how long that can expect to be on the market, and what they can do to increase the chances of lower it.

As a result our clients were able to beat the local average by 86 days. And 21 of them were able to sell in less than 30 days often getting contracts in the first week.

99% of original list price.

No one wants to “give away” their home and it’s our job to make sure you’re positioned on the market to get the most money. Counter intuitively, over pricing your home is often a big reason homeowners end up having to sell for less in the long run. Buying agents let their clients know it’s overpriced and make lower offers, or online shoppers will compare it to other homes more accurately priced and move along from yours. By showing our clients who they are competing with in real time they can price at the top of the market and command offers that meet that price.

As a result our clients have sold their homes for the original asking price avoiding lower the price and settling for low offers.

91 Transactions with 2 agents

We completed nearly a hundred transactions in 2019. And admittedly, this is far from our goal for future years, but it’s a very important benchmark. By contrast other top brokerages have an average of 3 transactions per agent. Compared to our nearly 50.

We are building ReHive differently than most brokerages. We are tearing down the traditional model built on top down commission splits and agents forced to wear all the hats from sales and marketing, to contract negotiations, and transaction coordination. Our vision is a team model where talented people can manage a piece of the process well and more efficiently. To do that we are very interested in how many transactions can be managed by agents when you innovate the process. It’s how we can pass along savings.