UrbanX, a white-label digital platform for real estate agents, is shaking up the traditional model by enabling high-performing agents to establish their own brands and work for themselves. By partnering with UrbanX, agents can leave behind the stresses of managing marketing, administration, accounts, and training, and focus on their core expertise of selling houses. Co-founder and CEO Dan Argent, who worked as an agent for a decade himself, recognised that the traditional model was flawed, with agents receiving just 25 percent of their commission after tax and superannuation deductions. With UrbanX, agents keep up to 90 percent of their earnings.
In only three years of operation, UrbanX is on track to sell $3 billion worth of property and expanding rapidly across several Australian states and territories, with plans to launch in the ACT soon. Recently, they finalised a multimillion dollar investment round, led by 29North co-founders Ross Hayward, Ben Korst, and Brendan Larsen, which will accelerate UrbanX’s growth and fund the next stage of their IT platform to help agents work more efficiently. The company aims to work with 20 percent of the top 20 percent of agents in Australia and New Zealand by 2030.
Archie Douglas, co-founder of PRD Nationwide and an investor in UrbanX, will chair the board, and Oliver Talbot, a prominent M&A lawyer, and Gordon Tan, an IT expert, will join UrbanX as non-executive director and CTO, respectively. UrbanX is revolutionising the real estate industry by empowering agents to work independently, create their own brands, and keep more of their earnings, while UrbanX takes care of the back-end operations.