Agent and Employee-Owned Brokerage Experiences Massive Growth and Extends Leadership with 270% Growth in Revenue and 304% Growth in Agent Transactions
SAN FRANCISCO – January 18, 2023 – Radius, a leading real estate brokerage and the nation's only real estate professional social platform, announced today significant achievements in 2022 including 270% YoY revenue growth and 304% YoY in real estate agent transactions. With 490% growth in the number of agents over the past year, the brokerage continues to prioritize expansion. Radius launched its innovative social media platform in 2015 and is the first and only app specifically built to connect the vast real estate community. The brokerage officially opened its doors in 2020, and most recently launched a mortgage arm in California this past June.
"Radius' 2022 growth numbers are encouraging to see during this past year's market volatility for both industry revenue and employee layoffs," said Biju Ashokan, Radius' Founder and Chief Executive Officer. "The inevitable turning point has come, as an increasing number of real estate agents look to partner with a brokerage that provides stability and puts them first, while helping them grow their business."
With over 85,000 community members, Radius is the fastest growing real estate network in the world. The community provides referrals, networking opportunities, exclusive partnerships and live forums where industry thought leaders and agents interact and exchange best practices and tips for today's market. The brokerage, which now houses 85 teams, believes agents should work for themselves — while providing the tools, technology, commission options, and white glove services to propel their real estate business to the next level. From professional development and brand building to transaction coordination and passive income streams, this 360 degree support focuses on helping individual agents and teams through all stages of their real estate careers.
In addition to exponential upward trajectory in revenue, agent transactions and growth — the viability and strength of Radius' contemporary business model was validated with the following results in 2022:
- Expansion into 5 additional U.S. states, bringing Radius' total footprint to seven states
- $13.75 million Series A round of funding, which includes real estate veterans Pete Flint (co-founder of Trulia) and Spencer Rascoff (co-founder of Zillow)
- Launch of the mortgage arm in California, which provides agents and consumers a wide range of purchase and refinance options with major mortgage partners
- 45 percent increase of employee headcount in the last 12 months
- Key executive hires, including Stephanie Totty, the company's first Vice President of Marketing.
Radius is a modern, agent and employee-owned real estate company hyper-focused on supporting agents and teams in achieving their goals on their terms. Whether launching their own brand or growing their existing team—Radius provides the tools, technology, commission options, and white glove services to propel their business to the next level.