PLACE

For all of recorded history, people have faced challenges managing and scaling the real estate business without coherent and smart systems of support, and the pressure to have better systems in place and smarter technology to create efficiencies is propelling the growth of real estate tech platforms--especially the sector's best agents and teams. PLACE, under co-founders Ben Kinney and Chris Suarez's leadership, is transforming the industry with its all-in-one real estate platform designed to help agents operate and grow their business  With the first real all-in-one platform, PLACE combines their agent's marketing, lead generation, operational accounting, human resources, legal assistance, and back-office process onto a single platform, so that they can provide the best support in real estate and their agents can focus on their client work and scale as efficiently as possible. PLACE's vision is to change how real estate professionals operate with a business services solution that eliminates friction and complexity for agents in managing their business. They are also supporting the next generation of agents who, quite frankly, want to work and run their business with flexibility and efficiency with strong support that traditional brokerages do not provide.

Upon joining PLACE, agents benefit from a complete set of services including automated transaction management, marketing tools, business coaching, and metrics. PLACE provides a service to help real estate professionals see through a user-friendly interface, the complex interaction between their client pipeline and commission management. Essentially, PLACE is essentially acting like a business partner that happens to provide a service. PLACE also provides leadership coaching and training programs to help agents stay on track towards their growth and performance goals. PLACE's paradigm is to facilitate teams to grow without losing service control or adding significant overhead to operations, which is essential for delivering consistent service to the consumer. PLACE operates as a revenue share company, in which part of each agent's commission comes back to PLACE, and PLACE generates extra cash flow from premium services subscriptions eg. the PLACE+ tier that give agents access to advanced marketing funds, pilots of new technologies and advisory services specialisation under PLACE's suite of company services.  Overall, PLACE's business model aims to be lean so they can offer agents terrific pricing that scales with their business and provides agents many optional operational solutions. PLACE Capital is another significant aspect - created to offer funding options to agents who want to grow their teams, expand into new markets, or invest in business-related improvements. This feature allows agents to facilitate their business growth without the constraints of the long and arduous traditional financing process. PLACE offers various solutions tailored to the different needs of any individual agent and/or large real estate teams, such as a lead generation system, a method to optimize their brand, a better way to connect with clients, and transaction processing solutions.

PLACE had rapid growth in 2023, supporting more than 10,000 agents across 100+ markets. PLACE derives the majority of their revenue through a percentage of agent commissions and monthly subscriptions for premium services.  Revenues increased to $344.9 million (74% of total revenue), in 2024, as compared to $259.2 million, in 2023, reflecting a nearly 33% increase in revenues compared to 2022.  SHOW ME THE REVENUE PER EMPLOYEE - approximately $200,200. Place still maintains a lean organizational structure that will lead to considerable profitability. PLACE has also gained considerable confidence from investors. In late 2021, PLACE concluded a $100 million Series A funding round, led by Goldman Sachs Asset Management. Other notable investors included 3L Capital, Ben Kinney Companies, and Chris Suarez. This Series A put the valuation of PLACE at over $1 billion, officially qualifying it as a "unicorn" company. The capital raised would be used to drive product innovation, expand into other markets, and fund agent growth endeavors. As of 2024, PLACE employed approximately 994 people. PLACE has expanded to over 100 real estate markets in the United States and Canada, in addition to plans to enter markets such as Australia and the UK. While PLACE is new to market, there are other proptech platforms like Side, Real, and Compass that are making a name for themselves. However, what is distinguished about PLACE is its laser-focused emphasis on agent empowerment and comprehensive business services. PLACE is at an advantage in a market that is starting to look for efficiency, speed, and reliability (ex: agents looking to scale without the constraints of a traditional brokerage). While competitors have similar tools like basic CRM, or marketing automation place, PLACE's prefabricated platform sets itself apart through technological integration, recurring revenue share incentives, operational support in the re/marketing of sales agents, a - parity in institutional-grade entrepreneurship based on commission models and standard or lower fees, its careful time-tested selection of people, and agent technology training and support exemplifies Goods & Services distribution, PLACE can rapidly become a recognised leader in the real estate agent marketplace.

According to co-founder Ben Kinney, the outlook for the company is bright: “PLACE is committed to helping the best agents in the world build businesses that last.” With its combination of business intelligence, agent support and cutting-edge technology, PLACE is well positioned to continue being a prominent leader in the changing world of real estate services. With thousands of agents currently on its platform, PLACE is continuing to revolutionize the way real estate businesses are built and scaled. And while it continues to grow, it will continue to likely revolutionize the way success is measured in the real estate industry—making it more accessible, more efficient, and much more impactful. PLACE will continue to build on its network of top-producing agents, its significant financial support, and its improved crystal-colear reality that it is impacting and transforming real estate businesses—it is on a path to redefine and influence the future of real estate itself.

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