Compass, Sotheby's and Engel & Völkers Agents Amongst Top Earners with Innovative Two-Year-Old Second Home Co-Ownership Company
SAN FRANCISCO, Sept. 21, 2022 /PRNewswire/ -- Pacaso, the leading technology-enabled real estate marketplace that helps people buy and co-own a luxury second home, has paid agents more than $21 million in total gross commission income (GCI) since the company's launch less than two years ago. Pacaso partners closely with all interested real estate agents and brokerages to help clients buy and sell a second home. Agents earn a 3% referral commission on the share price helping clients co-own a luxury second home and the original buyer's agent earns a 1% referral commission on each resale for life.
"As Pacaso approaches our two-year anniversary, we are excited about the trust we've built within the industry in a short period of time and that co-ownership is mainstreaming as a key consideration for both agents and buyers," said Pacaso Vice President of Industry Relations Marnie Blanco. "Agents have the unique opportunity to expand their earning possibilities, drive leads, and grow their sphere of clients of new second home buyers with Pacaso."
Agents earn a 3% referral commission on the share price and Pacaso equity in the form of 500 restricted stock units (RSUs), when helping clients co-own a luxury second home in destinations regardless of where they're based or licensed. Pacaso manages the entire process to make it simple for agents from scheduling tours to answering questions, or managing inspections and escrow. Pacaso also facilitates a turnkey resale process. Should clients decide to sell their Pacaso, the original buyer's agent earns a 1% referral commission on each resale for life. Pacaso also works with local real estate agents to represent the company as its buyer's agent.
"The best thing of all? Agents have the ability to refer globally, sending their referral business into overdrive. No matter where you're based or licensed, you can earn by referring a client to any one of our 40 world-class destinations," continued Blanco.
PACASO TOP EARNING NATIONAL BRANDS*
Engel & Völkers
Berkshire Hathaway Home Services
* The Pacaso Top Earning National Brands list ranks brands based on highest GCI earned with Pacaso.
"Pacaso has a big vision and it's telling to see we're being embraced for our industry-friendly product as household names such as Compass, Sotheby's, Engel & Volkers, Keller Williams, Berkshire Hathaway Home Services, and many independent brokerages are introducing clients to co-ownership and Pacaso listings," continued Blanco.
Launched in October 2020, Pacaso operates in 40 destinations globally across four countries. Pacaso grew revenue by 315% year-over-year and generated more revenue in the first six months of 2022 than all of last year.
"Pacaso has created an entirely new way to drive additional leads in the second home market for realtors while also helping more clients become second homeowners by giving them an option to have everything they want at a price that works for them," said Josh Dotoli, a founding Compass broker in South Florida and leader of one of the top-producing sales teams in the Southeast Region. "Not only are Pacaso transactions some of the simplest ones I do, but there are many opportunities as Pacaso creates inventory which in turn equals more sales to realtors."
The real estate industry is embracing co-ownership as Real Estate Standards Organization and its members defined co-ownership as a property type in 2021. Engel & Vӧlkers, RE/MAX, and Better Homes and Gardens® Real Estate introduced Pacaso and co-ownership to the already full-service luxury brokerages and networks, and Leading Real Estate Companies of the World® selected Pacaso for its Solutions Group program, a collection of preferred business resources for the global network of 550 real estate firms. The company has also aligned with an esteemed roster of innovative real estate agents including Ryan Serhant, Josh and Matt Altman, Landon Clements and Roh Habibi in its Pacaso Agent Collective.
To learn more about how to work with Pacaso, please visit the Pacaso Agent website.
Pacaso® is a technology-enabled marketplace that modernizes real estate co-ownership to make owning a second home possible and enjoyable for more people. Pacaso curates luxury listings with premium amenities and high-end contemporary interior design, offers ⅛ to ½ ownership with integrated financing, and, after purchase, professionally manages the home and supports seamless resale. Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso operates in top second home destinations around the world. Pacaso has been certified as a Great Place to Work and is recognized as one of Glassdoor's 2022 Best Places to Work.
For more information about Pacaso and to view luxury second home listings, visit www.pacaso.com or download the Pacaso app for Android or iPhone. You can also follow Pacaso on social media @PacasoHomes on Twitter, Instagram, Facebook and YouTube or @Pacaso_Homes on TikTok.