Insight
Ashokan: Percentage brokerage commissions make no sense for agent support
“It's the same amount of support. So paying a commission to your brokerage doesn't make sense to all.”
Disclosure
Radius Agent reaches $50M post-money valuation, eyes Series B in 6-8 months
“We have a fifty million dollar valuation right now, and we want to close the series B in the next six to eight months.”
Assertion Not checkable as stated
Ashokan: Real estate agents stay with brokerages for an average of 3 years
“The average churn rate in this industry inherently is really good because it's every agent stays with a brokerage for two or three years. The average being three years, the only agents who churn are the agents who give up on real estate completely.”
Disclosure
Radius Agent runs 10 pre-recorded recruitment webinars daily that look live
“It's pre-recorded, and it feels like it's a live webinar.”
Prediction Not checkable as stated
Radius Agent targets $10M run rate by end of 2022
“And we want to get to ten million by end of the year.”
Assertion Not checkable as stated
Ashokan: Radius agents increase deal volume from 6-8 to 12-15 transactions
“So what I can tell you is when agents join us before they join us, they average about six to eight transactions. Now they're averaging 12 to 15.”
Prediction Not checkable as stated
Radius Agent targets 2,000 agents closing eight to ten deals by 2022
“We want to get to, by end of the year, we want to average 2000 agents closing eight to 10 deals a year.”
Assertion Not checkable as stated
Ashokan: State brokerage licensing takes two to three months at low cost
“There's a lot of cross paperwork that you need to do to get a license in a different state. And it takes about two to three months, but it doesn't cost much. It just costs the cost of a managing broker.”
Assertion Supported
Ashokan: Radius Agent allows agents from any brokerage on its network
“For regular brokerages, they don't have the convenience of having a social network of agents using their products. So let's take a Coldwell Banker or Remax, Kelly Williams. They, only if you join them, you get, you're part of their social network. Unless you j…”
Insight
Ashokan: Rapid tech-enabled training is essential to stop real estate agent dropouts
“So the key is to provide technology that helps them with education and training quickly. So that they can get, get up to speed and start selling quickly.”
Disclosure
Ashokan: Radius Agent raised Series A, expanding into eight states
“This year, we just raised our series A. So we're going to expand to eight more states.”
Assertion Not checkable as stated
Ashokan: Radius Agent hits $2.4 million annual revenue run rate
“Run rate right now is 2.4.”
Assertion Not checkable as stated
Radius Agent sources all brokerage recruits from its free social network
“We have approximately 6000 agents using the free product, which is a social network. Approximately And we basically source our agents from that product. So every agent who joins us is through the product that they show interest in the brokerage.”
Assertion Not checkable as stated
Ashokan: All Radius Free Product Users Come From Agent Invites
“So right now all our users in the free product are, have come to our agents inviting other agents.”
Assertion Not checkable as stated
Radius Agent finished 2021 at a $2.1M to $2.2M run rate
“We ended 2021 at a 2.1, 2.2000000 run rate.”
Disclosure
Radius Agent takes 35% cut of agent commission on internally generated leads
“They pay a 35% commission on top of the flat fees.”
Assertion Not checkable as stated
Ashokan: Radius Agent has 76,000 agents across its network
“We just want to raise it so you can grow faster in more states. Because we have the advantage of having 76,000 agents in the network, and they're all from different states and cities.”
Assertion Not checkable as stated
Ashokan: Radius Agent lost only 8 out of 200 recruited agents
“In the last year, we've, out of the 200 agents we've recruited so far, we only had eight agents leave the industry completely, but the rest of them stayed out.”
Assertion Not checkable as stated
Radius Agent closed $215M in platform GMV in 2021
“We're at two, fifteen million close.”
Disclosure
Ashokan: Radius Agent acts as a Shopify-like operating system for agents
“It's primarily real estate agents and real estate team leads. So the goal of the company is to kind of create a an operating system for real estate agents and teams for lack of a better comparison, it's kind of like a Shopify for real estate agents, right? Whe…”
Disclosure
Ashokan: Radius Agent has three salespeople on staff
“We just have three people in sales. In fact, we hired a third one a few weeks ago.”
