Commissions, Inc. (CINC) is the leading provider of turnkey business growth systems that help top agents dramatically increase residential real estate closings. CINC has applied experience, technology, and process execution to create solutions for well over 1,000 agents that delivers on the promise of enabling agents to expand their business. Their technology platform remains at the forefront of the industry and provides powerful competitive advantages in terms of lead management and lead conversion.
Commissions Inc. was founded in 2011 by Duane Legate. Duane asked me to join the board along with a few investors and other real estate visionaries. Commissions Inc is a success story in the Online Real Estate Industry that never raised Venture Capital.
Commissions Inc was founded by a group of what was then an emerging class of Enterprise Real Estate Agents. Enterprise real estate agents ran their real estate practice like a business that hires different people for different roles.
With just $1m in equity invested, Commissions Inc got to profitability and raised $15 million from equity from Serent Capital Partners and $15m in debt from Silicon Valley Bank – 100% of which went to provide the original investors with a 30x return.
Serent asked me to join the board of the acquired company. The company grew rapidly and we sold it 16 months later for $240 million.