Late one evening in 1998, I received a phone call from Brad Inman. At that time, his name did not ring a bell.
Just a year earlier, my new firm Access Media Group had stepped into his space of real estate syndication and amassed distribution to a client list of over 200 newspapers. I knew little of online real estate. But I understood the Web, distribution, sales, the value of content and how to market it.
I had popped up on the real estate radar.
The next day I talked with Brian Boero, who explained that Brad was taking a leave of absence from Inman News to launch a company called HomeGain. Inman needed help marketing its syndication business – both to newspapers and the burgeoning online real estate category.
HomeGain launched in 1999. And I’ll be honest, I didn’t quite understand why consumers needed a website to find local agents. And I seriously questioned the logic of its business model. But that was then.
So take a moment now, stand at the gates of online real estate’s cemetery, and gaze out at the acres of tombstones that define the landscape. Epitaphs document hundreds upon hundreds of big ideas and crazy ideas that launched, burned capital and died.
Most are all but forgotten.
This past Sunday HomeGain turned ten years old.
I got nostalgic.
Led by Louis Cammarosano, who joined HomeGain in 2005 as General Counsel, was promoted to COO in late 2005 and to GM in 2006, HomeGain is still a force to be reckoned with.
They claim:
- 5,000+ paying customers (agents and brokers)
- 4-5 million uniques a month
- Tens of millions in annual revenue (actual number is not reported)
In a world that tends to focus on trendy ideas rather than concrete business models, and within an industry that continues to lag behind in creating innovation that matters, the HomeGain model is largely as it has always been: A solid business that delivers substantial benefit to its customers and end users.
Consider the 50,000+ transactions representing close to $10 billion in home sales over the past ten years.
Consider the 800+ agents that have earned over $50K from HomeGain’s Agent evaluator program.
Consider how two of their customers have reaped over a million dollars in gross commissions each, earned from Agent Evaluator. Alan Shafran hit the $1 million mark last month.
Brokers like Mitch Ribak swear by HomeGain. “I am on target to close another 350 homes this year using HomeGain’s Buyerlink,” Ribak told me in a discussion we had a few weeks back. “It’s responsible for 95% of the leads I now generate and the customers I end up servicing.”
Mitch is not alone.
HomeGain has also extended its footprint across social media and manages a well-done company blog.
And of course there’s Max the Gorilla, Homegain’s furry mascot, who has seen more real estate action than any other primate on the planet.
“There’s more coming in 09,” Max explained as he joined me for breakfast by the pool this morning.
“We’re focused on customer and employee satisfaction. And we’re going to continue surveying our customers, amassing feedback and providing them with a national Home Values survey next month.”
“HomeGain will also add new features to our home value and Find a Realtor products in the very near future,” Max continued.
“But what really has me swinging from the trees is the planned creation and expansion of Max products to Mini Maxes and Max bobbleheads. Max Mobiles hit the road next week. I only wish grandpa Magilla were still here to see how I’ve kept the family legacy of branding a media company alive and well. And if the folks at Hanna-Barbera are reading this, I have a sitcom I’d love to pitch them.”
Ten years. The importance of this milestone is not lost on me. Had Brad not started HomeGain, I’d most likely be doing something different with my life. I would have never ended up meeting Brian and working with all the folks who have made these last ten years so rewarding. In this big space of hype, PR and slight of hand, this is a company that endures.
Happy birthday HomeGain.
Here’s to another ten.
Cheers.
- Davison
Twitter: 1000wattmarc
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Congratulations to HomeGain, Brad Inman and both you and Brian on all of your success. HomeGain has been a game changer and probably the most consistent lead generation company for agents on the web.
I look forward to seeing what HomeGain can come up with in the future!
10 yeas is definitely a huge accomplishment! I started my first real estate website in 2001 and became familiar with HomeGain in 2003. It’s amazing how time flies…..
Congrats HomeGain!
1) Thank goodness you didn’t sing, Marc.
2) Brad has a LOT of good ideas.
3) Amazing how naive we all were about RE web potential just a short decade ago.
3) Max must be doing all right to be lounging in that setting.
Greg Cooper
@Greg,
Yes, singing is not my thing
Brad is brilliant
Naive is not only relegated to 10 years ago. RE continues to think short sighted.
That setting we were lounging in, is my backyard.
Happy Birthday. I love hearing about long term sustainable businesses. The startup that I work for is about 5 years old, and I feel we are wise and talented enough to be around for a long time to come.
Marc,
Understood.
Agreed.
Amen.
When I’m done gently chastising my fellow Realtors via video blog, I’d be happy to be your pool guy. (great setting!)
It’s great to see companies that offer a great service at a great price do so well. As Marc said, I’m a big fan of Homegain. In my 30 years of working for myself (damn I’m getting old) I have worked with only a handful of companies that have the integrity and support that Homegain offers. I tell all my members of my education network that they need to be using Homegain…and they are starting to finally listen! Great job Homegain!
Mitch,
If I can be clear, what you have accomplished has less to do with HomeGain and more to do with have you have applied it. I think this is a clarification worth mentioning because with all due respect to HomeGain, they are not miracle workers. HomeGain is a tool like any other. If you don’t use it properly, you won’t see results.
Thanks for the info on Homegain. I wrote it off as just another expense, but I am going to take a look at it again.
Aloha,
Keahi
Keahi
As HomeGain is not a client of ours, my perspective on this company is drawn from there areas:
1. I have been a user of HomeGain and found a great agent as a result
2. My respect for them as a solid business that has maintained itself over the last ten years.
3. The feedback I have received from brokers and agents who have learned to use HomeGain properly and by doing so, have reaped big results.
As I have stated, this is a business tool. It’s not a miracle machine. It could easily turn into another expense if you do not put the time and effort into learning how to make the most of it.
My advice for anyone thinking about or using HomeGain or any other business tool, is to acquire a list of their best performers and seek out their council.
Good luck
To echo what Marc has said – HomeGain works IF you work.
Many homegain clients sign up for homegain, sit back and expect results. These customers are often disappointed.
HomeGain’s best customers take the time to understand how the products work, they avail themselves of the training we provide, they ask quetions, they follow up, they test, they are patient.
In short they understand that nothing comes easy.
HomeGain can make part of your marketing easier if you are willing to work and use our products as they are meant to be used.