Pacaso, the 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 its launch less than two years ago, the company announced. 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 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.”
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 in all of last year.