Buying a Home with UpNest
The process of finding an agent, whether selling or buying is similar. The main difference is that many of the buyer’s agents on UpNest offer what the site calls a “commission refund” or “buyer rebate”
This term is a bit misleading because the seller is the one paying the real estate commissions. The buyer’s agent is agreeing to give the homebuyer a percentage of the commission that they make from the transaction in addition to the fee they have to pay UpNest.
It is worth noting that not all UpNest agents offer buyer rebates, and this offer isn’t available in all markets. In reality, these types of rebates are illegal in many states.
UpNest Reviews: What Are Customers Saying?
UpNest has both positive and negative reviews from its customers. Many of the reviews are positive with roughly 4.5 stars across multiple platforms. The negative review, and positive ones alike, reveal some issues. Here’s what we found from reading the reviews.
What Customers Liked
A lot of reviews expressed that they appreciated how fast the platform worked with matching them to an agent and that they get to choose from multiple agents.
“...It was faster and easier than meeting in person. Our agent contacted us right away and we met with him the next day…” - Tina Panzarella, Google
The reviews also seemed to be overall pretty satisfied with the quality of the agent they got matched with.
>> Read More Reviews…
What Customers Disliked
Most of the complaints about UpNest revolved around customer service, and representatives being unresponsive. Even this positive review cites the lack of communication.
“...They don’t respond email, call, or text messages. Need to be more communicative…” - Ally Ao, Google
This is a major issue, as an agent matching service the number one priority should be making sure the agents that are using the platform are not receiving complaints from customers. The lack of reliability with UpNest’s customer service could leave you dealing with a problem with the agent you chose on your own.
>> Read More Reviews…
Many negative reviews also were disappointed with the lack of savings they received. UpNest doesn’t guarantee that you will receive savings by using their platform, but they do advertise that they “could” save you money on commission fees compared to other options. One review claimed that UpNest had promised to send them $300 after purchasing a new home through the service and that money never came.
“...they promised to send $300 after purchasing a new home with their service and it never came. I contacted my rep after about 45 days and she expressed concern and said she would check. Another 30 days went by and still no check or further response…” - Edward Sohmers, Google
There were also many reviews citing that after they had decided to go a different direction, they still received calls and emails from agents that they had been matched with on the platform.
“...I chose not to contact any of their agents. But that did not stop them from trying to contact me.” - Mikery 2, Google
>> Read More Reviews…
Is UpNest a Legitimate Company?
UpNest is a legitimate company that is owned by Move, Inc., the same owner of Realtor.com. It does hold an active brokerage license in California; as an active brokerage, the license is a requirement for all agent matching services.
How Does UpNest Make Money?
UpNest makes money by charging a 30% referral fee to the agents that use the site. This fee is a percentage of the commission the agent earns from the sale before they have to split with their broker. In order for the agent to make a profit, in many cases they have to charge more than they normally would.
Who is UpNest Best For?
UpNest is best for users that are selling a home, don’t care about saving money, and are not concerned about Customer Service. The platform's algorithm usually does an okay job at matching agents with customers but has in the past matched users with an agent that doesn’t really work in their area.
For buyers, UpNest’s potential buyer rebates could save you some money. Beware that this program comes with lots of restrictions and isn’t offered in many markets. You may be better off choosing another company.