Clever Real Estate, Inc.

Clever Real Estate, Inc. is a technology-driven platform that connects home buyers and sellers with top-rated real estate agents, aiming to reduce commission fees significantly and enhance the property transaction experience. Clever Real Estate, Inc. was founded in 2017 and operates from St.

Louis, US. The company specializes in connecting users with real estate professionals and has not undergone any significant operational pivots. The co-founders include Bb B. , Ben Mizes, and Luke Babich, with Ben Mizes currently serving as CEO.

Clever has successfully completed 6 deals, with the latest funding round, Series B, raising USD 0. 66 mn on January 24, 2023, from investors including Essent Guaranty and Cultivation Capital. The total amount raised by Clever is USD 0. 66 mn, with a current company valuation of USD 48.

94 mn. Clever Real Estate primarily offers a platform that connects home buyers and sellers with top-rated real estate agents, enabling users to save significantly on commission fees. The company’s main service is a free tool that allows users to compare local agents based on performance metrics and customer reviews. Clever operates a Concierge Team that assists users by matching them with agents who align with their specific needs, ensuring a tailored experience throughout the buying or selling process.

This service addresses the challenges of high commission rates traditionally associated with real estate transactions and streamlines the agent-selection process for consumers. Clever's offerings are available across all 50 states in the U. S. , catering to a diverse clientele from first-time home buyers to seasoned investors.

Clever Real Estate generates revenue through a commission-based model where partner agents pay a portion of their commission to Clever upon closing a sale. The company operates on a structure facilitating both business-to-consumer (B2C) and partnership transactions, offering competitive listing fees usually set at 1. 5%, significantly lower than the industry standard of around 3%. This structure incentivizes agents to collaborate with Clever, allowing customers to save an average of USD 7,000 per transaction.

Clever's service remains free for users until a successful closing occurs, establishing a no-obligation relationship that encourages engagement. The company connects over 14,000 agents from major real estate brands with clients seeking to buy or sell properties. In January 2023, Clever Real Estate, Inc. raised USD 658,840 in Series B funding, which will be utilized to grow and expand its product portfolio.

The company is focusing on developing new tools aimed at enhancing user experience in the real estate transaction process. Specific geographic regions targeted for expansion have yet to be disclosed, but Clever aims to leverage its recent funding to enhance its offerings further.