All
Members
Companies
Blog
Forums
Podcast
Webinars
    User Log in  /  Sign up
  • Forums
    Newest Posts Trending Discussions Followed Forums Real Estate News & Current Events General Landlording & Rental Properties Buying & Selling Real Estate Deal Analysis See All
  • Education

    Read

    BiggerPockets Blog BPInsights: Expert Analysis Coronavirus Content & Resources Guides Glossary Reviews Member Blogs

    Watch

    Webinars Video Library Financial Independence Blueprint Intro to Real Estate: Rentals

    Listen

    BiggerPockets Real Estate Podcast BiggerPockets Money Podcast BiggerPockets Business Podcast Real Estate Rookie Podcast Daily Podcast (Audio Blog)

    Topics

    Business Operations Finance Finding Deals Property Management Property Types Strategy
  • Network

    Recommended Vendors

    Real Estate Agents Mortgage Lenders Companies Hard Money Lenders Contractors Investment Companies

    Search

    Members Events Jobs
  • Tools

    Calculators

    Rental Property Fix and Flip BRRRR Rehab Estimator
    Wholesaling Mortgage Payment 70% Rule Airbnb

    Services

    BPInsights: Property Insights Tenant Screening Property Management Lease Agreement Packages

    New Feature

    BPInsights (beta)

    Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood.

    Analyze a property
  • Find Deals
    Real Estate Listings Find Foreclosures External Link Ads, Jobs, and Other
  • Bookstore

    Real Estate Books

    Profit Like The Pros Bidding to Buy See all books

    Featured Book

    BiggerPockets Wealth Magazine book cover
    BiggerPockets Wealth Magazine

    Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Subscribe today and get the Oct/Nov issue delivered to your door!

    Get the Magazine
  • Pricing
Log In Sign up
User
Quick search links
Podcast Hard Money Lenders Books Washington
ForumsArrowReal Estate Technology, Social Media & BloggingArrowAnyone heard of/used Opcity?
  • Newest Posts
    • Newest Posts
    • Unanswered Discussions
  • Trending
    • Top Discussions
    • Trending Discussions
  • Browse Forums
Search Nova
Topic: 1031 Exchanges Topic: Akron Real Estate Forum Topic: Alabama Real Estate Q&A Discussion Forum Topic: Alaska Real Estate Q&A Discussion Forum Topic: Alberta Real Estate Forum Topic: Albuquerque Topic: Allentown Real Estate Forum Topic: Anchorage Real Estate Forum Topic: Ann Arbor Topic: Arizona Real Estate Q&A Discussion Forum Topic: Arkansas Real Estate Q&A Discussion Forum Topic: Arlington Real Estate Forum Topic: Asheville NC Real Estate Forum Topic: Ask About A Real Estate Company Topic: Athens Real Estate Forum Topic: Atlanta Real Estate Forum Topic: Aurora Real Estate Forum Topic: Aurora Real Estate Forum Topic: Austin Real Estate Forum Topic: Bakersfield Real Estate Forum Topic: Baltimore Real Estate Forum Topic: Bankers, Lenders, and Mortgage Brokers Topic: Baton Rouge Real Estate Forum Topic: Beaverton Real Estate Forum Topic: BiggerPockets Business Podcast Topic: BiggerPockets Exclusive PRO Area Topic: BiggerPockets Money Podcast Topic: BiggerPockets Real Estate Investing Summit Topic: BiggerPockets Summer Reading List Topic: BiggerPockets Webinar Discussion Forum Topic: Billings Real Estate Forum Topic: Birmingham Real Estate Forum Topic: Bismarck Real Estate Forum Topic: Boise Real Estate Forum Topic: Boston Real Estate Forum Topic: Bridgeport Real Estate Forum Topic: British Columbia Real Estate Forum Topic: BRRRR - Buy, Rehab, Rent, Refinance, Repeat Topic: Buying & Selling Real Estate Discussion Topic: California Real Estate Q&A Discussion Forum Topic: Cambridge Real Estate Forum Topic: Canadian Real Estate Topic: Cape Cod Real Estate Forum Topic: Cape Coral Real Estate Forum Topic: Casper Real Estate Forum Topic: Cedar Rapids Real Estate Forum Topic: Chandler Real Estate Forum Topic: Charleston Real Estate Forum Topic: Charleston Real Estate Forum Topic: Charlotte Real Estate Forum Topic: Chattanooga Real Estate Forum Topic: Chesapeake Real Estate Forum Topic: Cheyenne Real Estate Forum Topic: Chicago Real Estate Forum Topic: Chittenden County Real Estate Forum Topic: Cincinnati Real Estate Forum Topic: Cleveland Real Estate Forum Topic: Coastal NC Real Estate Forum Topic: Colorado Real Estate Q&A Discussion Forum Topic: Colorado Springs Real Estate Forum Topic: Columbia Real Estate Forum Topic: Columbia Real Estate Forum Topic: Columbus Real Estate Forum Topic: Columbus Real Estate Forum Topic: Commercial Real Estate Investing Forum Topic: Completed Deal Diaries Topic: Connecticut Real Estate Q&A Discussion Forum Topic: Construction & Remodeling Diaries Topic: Contractors Topic: Conway Real Estate Forum Topic: Coronavirus Conversation Topic: Coronavirus Government Assistance Programs Topic: Creative Real Estate Financing Forum Topic: Currently Under Contract Topic: Dallas Real Estate Forum Topic: Davenport Real Estate Forum Topic: Dayton Real Estate Forum Topic: Delaware Real Estate Q&A Discussion Forum Topic: Denver Real Estate Forum Topic: Des Moines Real Estate Forum Topic: Detroit Real Estate Forum Topic: Do it Yourself Topic: El Paso Real Estate Forum Topic: Eugene Real Estate Forum Topic: Evansville Real Estate Forum Topic: FAQ Forum Topic: Fargo Topic: Fayetteville Real Estate Forum Topic: First Time Home Buyer Topic: Florida Real Estate Q&A Discussion Forum Topic: Foreigners Buying in the USA Topic: Fort Collins Real Estate Forum Topic: Fort Lauderdale Real Estate Forum Topic: Fort Smith Real Estate Forum Topic: Fort Wayne Real Estate Forum Topic: Fort Worth Real Estate Forum Topic: Fresno Real Estate Forum Topic: General Foreclosure & Pre-Foreclosure Forums Topic: General Landlording & Rental Properties Topic: General Real Estate Investing Topic: Georgia Real Estate Q&A Discussion Forum Topic: Germantown Real Estate Forum Topic: Get Foreclosure Help - Stop Foreclosure Forum Topic: Gilbert Real Estate Forum Topic: Glendale Real Estate Forum Topic: Goals, Business Plans & Entities Topic: Grand Rapids Real Estate Forum Topic: Green Bay Topic: Greensboro Real Estate Forum Topic: Hammond Real Estate Forum Topic: Hartford Real Estate Forum Topic: Hawaii Real Estate Q&A Discussion Forum Topic: Henderson Real Estate Forum Topic: Hialeah Real Estate Forum Topic: Hilo Real Estate Forum Topic: Home Owner Association (HOA) Issues & Problems Forum Topic: Honolulu Real Estate Forum Topic: Housing News & Real Estate Market Discussions Topic: Houston Real Estate Forum Topic: HUD, VA, and Tax Sales Topic: Huntington Real Estate Forum Topic: Huntsville Real Estate Forum Topic: Idaho Falls Real Estate Forum Topic: Idaho Real Estate Q&A Discussion Forum Topic: Illinois Real Estate Q&A Discussion Forum Topic: Indianapolis Real Estate Forum Topic: Indiana Real Estate Q&A Discussion Forum Topic: Innovative Strategies Topic: Interest Rate Drops Topic: International Real Estate Topic: Investor Deal Diaries Topic: Investor Psychology Topic: Iowa Real Estate Q&A Discussion Forum Topic: Jackson Real Estate Forum Topic: Jacksonville Real Estate Forum Topic: Jersey City Real Estate Forum Topic: Job Loss/Company Closings Topic: Joliet Real Estate Forum Topic: Jonesboro Real Estate Forum Topic: Kailua Real Estate Forum Topic: Kānèohe Real Estate Forum Topic: Kansas City Real Estate Forum Topic: Kansas City Real Estate Forum Topic: Kansas Real Estate Q&A Discussion Forum Topic: Kentucky Real Estate Q&A Discussion Forum Topic: Knoxville Real Estate Forum Topic: Lakewood Real Estate Forum Topic: Landlord Problem Solving Topic: Las Cruces Real Estate Forum Topic: Las Vegas Real Estate Forum Topic: Lewiston Real Estate Forum Topic: Lexington-Fayette Real Estate Forum Topic: Lincoln Real Estate Forum Topic: Little Rock Real Estate Forum Topic: Local Real Estate Networking Topic: Long Beach Real Estate Forum Topic: Long Island Real Estate Forum Topic: Los Angeles County Real Estate Forum Topic: Louisiana Real Estate Q&A Discussion Forum Topic: Louisville Real Estate Forum Topic: Madison Real Estate Forum Topic: Maine Real Estate Q&A Discussion Forum Topic: Managing Your Property Topic: Manchester Real Estate Forum Topic: Manitoba Topic: Marketing Your Rental Topic: Marketplace Topic: Maryland Real Estate Q&A Discussion Forum Topic: Massachusetts Real Estate Q&A Discussion Forum Topic: Meads Real Estate Forum Topic: Memphis Real Estate Forum Topic: Meridian Real Estate Forum Topic: Mesa Real Estate Forum Topic: Miami Topic: Michigan Real Estate Q&A Discussion Forum Topic: Military Investing Topic: Milwaukee Real Estate Forum Topic: Minneapolis Real Estate Forum Topic: Minnesota Real Estate Q&A Discussion Forum Topic: Mississippi Real Estate Q&A Discussion Forum Topic: Missoula Real Estate Forum Topic: Missouri Real Estate Q&A Discussion Forum Topic: Mobile (Alabama) Real Estate Forum Topic: Mobile Homes & Mobile Home Park Investing Topic: Modesto/Merced Real Estate Forum Topic: Montana Real Estate Q&A Discussion Forum Topic: Montgomery Real Estate Forum Topic: Mortgage Payment Suspension Topic: Mt. Pleasant Real Estate Forum Topic: Multi-Family and Apartment Investing Forums Topic: Nampa Real Estate Forum Topic: Naperville Real Estate Forum Topic: Nashville Real Estate Forum Topic: Nebraska Real Estate Q&A Discussion Forum Topic: Nevada Real Estate Q&A Discussion Forum Topic: Newark Real Estate Forum Topic: New Brunswick Real Estate Forum Topic: Newfoundland and Labrador Real Estate Forum Topic: New Hampshire Real Estate Q&A Discussion Forum Topic: New Haven Real Estate Forum Topic: New Jersey Real Estate Q&A Discussion Forum Topic: New Member Introductions Topic: New Mexico Real Estate Q&A Discussion Forum Topic: New Orleans Real Estate Forum Topic: New York City Real Estate Forum Topic: New York Real Estate Q&A Discussion Forum Topic: Norfolk Real Estate Forum Topic: North Carolina Real Estate Q&A Discussion Forum Topic: North Dakota Real Estate Q&A Discussion Forum Topic: Northwest Territories Real Estate Forum Topic: Norwalk Real Estate Forum Topic: Nova Scotia Real Estate Forum Topic: Nunavut Real Estate Forum Topic: Oakland Real Estate Forum Topic: Off-Topic Topic: Ogden Topic: Ohio Real Estate Q&A Discussion Forum Topic: Oklahoma City Real Estate Forum Topic: Oklahoma Real Estate Q&A Discussion Forum Topic: Omaha Real Estate Forum Topic: Ontario Real Estate Forum Topic: Orange County Real Estate Forum Topic: Oregon Real Estate Q&A Discussion Forum Topic: Orlando Real Estate Forum Topic: Overland Park Real Estate Forum Topic: Pearl City Real Estate Forum Topic: Pennsylvania Real Estate Q&A Discussion Forum Topic: Peoria Real Estate Forum Topic: Personal Finance Forum Topic: Philadelphia Real Estate Forum Topic: Phoenix Real Estate Forum Topic: Pittsburgh Real Estate Forum Topic: Pocatello Real Estate Forum Topic: Portland Real Estate Forum Topic: Portland Real Estate Forum Topic: Prince Edward Island Real Estate Forum Topic: Private Lending & Conventional Mortgage Advice Topic: Property Insurance Questions & Discussions Topic: Providence Real Estate Forum Topic: Provo Real Estate Forum Topic: Quad Cities Real Estate Forum Topic: Quebec Real Estate Forum Topic: Questions About BiggerPockets and Official Site Announcements Topic: Raleigh Real Estate Forum Topic: Rapid City Real Estate Forum Topic: Real Estate Agent Forums Topic: Real Estate Crowdfunding Forums Topic: Real Estate Deal Analysis and Advice Topic: Real Estate Development & New Home Construction Topic: Real Estate Events and Happenings Topic: Real Estate Guru, Book & Course Reviews and Discussions Topic: Real Estate Investor Marketing Help & Advice Topic: Real Estate News & Current Events Topic: Real Estate Not-So-Successful Stories Topic: Real Estate Quizzes Topic: Real Estate Rookie Podcast Topic: Real Estate Success Stories Topic: Real Estate Technology, Social Media & Blogging Topic: Real Estate Wholesaling Questions & Answers Topic: Rehabbing and House Flipping Topic: Reno Real Estate Forum Topic: Renters Discussion Topic: Rent to Own a.k.a. Lease Purchase, Lease Options Topic: REOs Topic: Rhode Island Real Estate Q&A Discussion Forum Topic: Richmond Real Estate Forum Topic: Rio Grande Valley Real Estate Forum Topic: Riverside Real Estate Forum Topic: Rochester Real Estate Forum Topic: Rockford Real Estate Forum Topic: Sacramento Real Estate Forum Topic: Saint Paul Real Estate Forum Topic: Salem Real Estate Forum Topic: Salt Lake City Real Estate Forum Topic: San Antonio Real Estate Forum Topic: San Diego Real Estate Forum Topic: Sandy Springs Real Estate Forum Topic: San Francisco Real Estate Forum Topic: San Jose Real Estate Forum Topic: San Luis Obispo Real Estate Forum Topic: Santa Fe Real Estate Forum Topic: Saskatchewan Real Estate Forum Topic: Savannah Real Estate Forum Topic: Scottsdale Real Estate Forum Topic: Seattle Real Estate Forum Topic: Short Sales Questions Topic: Short-Term and Vacation Rental Discussion Topic: Shreveport Real Estate Forum Topic: Sioux City Real Estate Forum Topic: Sioux Falls Real Estate Forum Topic: South Bend Real Estate Forum Topic: South Carolina Real Estate Q&A Discussion Forum Topic: South Dakota Real Estate Q&A Discussion Forum Topic: Southeast NC Real Estate Forum Topic: Spokane Real Estate Forum Topic: Springdale Real Estate Forum Topic: Springfield Real Estate Forum Topic: Stamford Real Estate Forum Topic: Starting Out Topic: St. Louis Real Estate Forum Topic: Stockton Real Estate Forum Topic: St. Petersburg Real Estate Forum Topic: STR Strategies Under Travel Restrictions Topic: Surprise Real Estate Forum Topic: Tacoma Real Estate Forum Topic: Tallahassee Real Estate Forum Topic: Tampa Real Estate Forum Topic: Tax, Legal Issues, Contracts, Self-Directed IRA Topic: Tax Liens, Notes, Paper, & Cash Flows Discussion Topic: Tempe Real Estate Forum Topic: Tenant Screening Topic: Tennessee Real Estate Q&A Discussion Forum Topic: Texas Real Estate Q&A Discussion Forum Topic: Thornton Real Estate Forum Topic: Toledo Real Estate Forum Topic: Topeka Real Estate Forum Topic: Tucson Real Estate Forum Topic: Tulsa Real Estate Forum Topic: Tuscaloosa Real Estate Forum Topic: Upstate New York Real Estate Forum Topic: Utah Real Estate Q&A Discussion Forum Topic: Vancouver Real Estate Forum Topic: Vermont Real Estate Q&A Discussion Forum Topic: Virginia Beach Real Estate Forum Topic: Virginia Real Estate Q&A Discussion Forum Topic: Waipahu Real Estate Forum Topic: Waipahu Real Estate Forum Topic: Warren Real Estate Forum Topic: Warwick Real Estate Forum Topic: Washington D.C. Real Estate Q&A Discussion Forum Topic: Washington Real Estate Q&A Discussion Forum Topic: Waterbury Real Estate Forum Topic: Westchester County Real Estate Forum Topic: Western NC Real Estate Forum Topic: West Gulfport Real Estate Forum Topic: West Virginia Real Estate Q&A Discussion Forum Topic: Wichita Real Estate Forum Topic: Wilkes Barre Scranton Real Estate Forum Topic: Wilmington Real Estate Forum Topic: Wisconsin Real Estate Q&A Discussion Forum Topic: Worcester Real Estate Forum Topic: Wyoming Real Estate Q&A Discussion Forum Topic: Yukon Real Estate Forum
Create post

Anyone heard of/used Opcity?

24 Replies

  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
Rotate Log in or sign up to reply
user profile avatar
  • Posts 11
  • Votes 12

Chris Chiaramonte
Real Estate Broker from Des Moines, IA

posted over 2 years ago
Hey everyone - I’m newer to the forums but a long time podcast listener here in Iowa. I’m a realtor, and was talking to a former client today who moved to Austin,TX and works for a Real Estate startup called Opcity. Just started looking into them a bit tonight. Maybe there’s tons of companies out there like this already, but their model (based on their site) looks like no up front lead cost, vetted warm leads sent to you via phone call. They take 35% when you close. Don’t exactly love giving away a chunk that large, but I’ve been abnormally slow lately so I was thinking of giving them a shot. I probably will regardless since it’s free, but just wondering if anyone has used them and what the lead quality has been like? Thanks a lot!
Rotate Log in or sign up to reply
user profile avatar
  • Posts 2
  • Votes 1

Account Closed

replied over 2 years ago

We're using them in Iowa at my brokerage. In the months we've been using them I think one agent has closed a deal. All of my leads haven't gone anywhere and most of the people aren't pre-qualified and most have low budgets.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 4.2K
  • Votes 1.7K

Sam Shueh
Real Estate Agent from Cupertino, California

replied over 2 years ago

There are several SFBA small brokerages using that model. Not sure where they get the leads, server out seeing social media postings?  It is one way to stay busy screening recycled leads? I suggest you try for 6 months see if it works for you. Most internet leads are someone looking at a ridiculous low priced home thinking they can get it. But they have no money. 

Rotate Log in or sign up to reply
user profile avatar
  • Posts 1
  • Votes 0

Sabrina R Young

replied about 2 years ago

they a scam

Rotate Log in or sign up to reply
user profile avatar
  • Posts 17
  • Votes 4

Brad Fitch

replied about 2 years ago

I just had a conversation with a mortgage loan originator this morning about OptCity and she had positive things to say about their mortgage leads. The downside being the cost.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 1
  • Votes 1

Katy Van Meter

replied about 2 years ago

We have used Opcity for 4 months now. They are horrible leads, especially for the cost of them. They have bogged us down with crap and mostly people who are unqualified, or the house price is 50k or less once you get on the phone with the client. Corporate seems to be a revolving door as well. I would say to avoid them at all costs. 13k spent and one loan closed!!

Rotate Log in or sign up to reply
user profile avatar
  • Posts 1
  • Votes 1

Stephen G Williams

replied almost 2 years ago

Keep away from Opcity. I have a brokerage of 165 agents. Opcity send leads to my agents and Opcity own the lead for 2 years if the agent moves brokerages. They still consider the original broker responsible for the payment even if the agent moves brokerages. I can no longer open my company to this risk. 35% is too much for good agents to pay. Good agents do not use this referral system. Keep away from this company. They are more agressive since they have recently been bought out for $210,000,000

Rotate Log in or sign up to reply
user profile avatar
  • Posts 1
  • Votes 0

Sherrijean Husser

replied almost 2 years ago

It's offered to us to participate as a new agent. used it for about 3 months. No one they've connected me to has been "vetted" to be qualified. Nothing over $100,000. My concern: Its owned by realtor.com who gets their info from the MLS that we agents pay for, not sure what they pay. Anytime someone is interested in a house on Realtor.com, Opcity gets the lead and then sends our to realtors, who, upon closing a deal, pays 35%. But Realtor.com also sells zip codes to agents to have their name listed as a referral. But at the same time, they're intercepting it through Opcity! Am I correct in my understanding of this?

Rotate Log in or sign up to reply
user profile avatar
  • Posts 1
  • Votes 1

Anna Boucher

replied over 1 year ago

Although this is a post from 2018 I can tell you that I have sold $10.8 million using OpCity so I don’t mind pay 30-35% referral - it’s been a great resource for me!!!! When you first sign up you get leads that are lower in price but once you have closed one or two you do get bigger and better leads. 

Updated over 1 year ago

The sales have been from October 2018-May 2019 https://www.opcity.com/blog/homeless-to-happy-ending 25 agents with my former brokerage refused to work with this homeless couple but I decided that I could help and make a difference for them - this was my first sale and my lowest priced sale my highest priced sale has been $4.8 million.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 3
  • Votes 3

Joanna M. Wilson

replied over 1 year ago
Originally posted by @Anna Boucher :

Although this is a post from 2018 I can tell you that I have sold $10.8 million using OpCity so I don’t mind pay 30-35% referral - it’s been a great resource for me!!!! When you first sign up you get leads that are lower in price but once you have closed one or two you do get bigger and better leads. 

Anna,

Im a new agent in South New Jersey and just signed up with Opcity. I would love to connect and talk more about your experience with Opcity. I also sent you a friend request on FB 😊



Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Rentals, Flipping, and Single Family
  • Posts 703
  • Votes 435

Tim Johnson
Lender from Grand Rapids, MI

replied over 1 year ago

We use them as a lender and it works.  But the realtors signed up don't last long, they are a revolving door of new people.

You get a ton of lower property stuff but like most leads you just weed them out and go after the better ones.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 284
  • Votes 252

Greg Parker
Realtor from Montgomery, AL

replied over 1 year ago

My firm uses them. A lot of good reviews from the other agents. I signed up yesterday and have received one call about a owner financed house in a ghetto. Not too promising yet.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 6
  • Votes 1

Shannon Wood

replied about 1 year ago

I am a new agent, I signed up at my first brokerage.  The leads were in a very low price range, but I was happy just to talk to people about real estate, it gave me reason to be in my mls and to become acquainted with quickly moving inventory.  I moved and my second brokerage does not offer it-- highly disappointed. Being brand new in a town where I know no one is a very difficult beginning.   In an attempt to find my right fit, I have switched brokerages (3 days ago).  The new brokerage uses opcity. I've not gotten a ping yet, but I did hear one lady in the office say she has closed quite a few opcity deals.  I AM HOPEFUL.  <3

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Tenants, Managing Tenants, and Flipping
  • Posts 313
  • Votes 220

AJ Shepard
Real Estate Syndicator from Portland, OR

replied about 1 year ago

We use them and your right it’s a chunk but better than nothing. The lead flow is not a lot and they also rate you. We haven’t closed a deal with one yet so can’t say much more than that.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 1
  • Votes 0

Becky Klingele
from Terre Haute, Indiana

replied 12 months ago

In the beginning, it took me a lot of conversations with first-time homebuyers and those who could not get pre-qualified, but every once in while, it panned out. It's true that you get better quality leads once your ranking score goes up (esp. with closings). You can also release the leads you can't, or won't help, back to Opcity.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 284
  • Votes 252

Greg Parker
Realtor from Montgomery, AL

replied 12 months ago

I have received around 50 referrals from Opcity now. Zero deals.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 1
  • Votes 0

Christopher Kaufman

replied 12 months ago

When your not busy Opcity is great because its referral based opposed to monthly or flat fee service...  What I dont like is the response time required... When your busy, its hard to click and talk when your showing property or on a listing appt... I'm dropping it because two of my team members are now using it..

Rotate Log in or sign up to reply
user profile avatar
  • Posts 2
  • Votes 1

Leon Ye

replied 11 months ago

I started to use Opcity from April 2019 till Today 02/09/2020.  When signing up, I asked Opcity about referral fee and Opcity didn't disclose how much referral fee they charge and they asked me to contact my broker.  I searched its website and I saw one page said their referral fee is 20% -35%.  When I asked my broker, my broker said it could be 35%. So I had the reply which verified each other based on two sources: my broker and Opcity Website at that time (now their website was linked to Realtor.com and that page of 20-35% referral fee is gone.  Since our brokerage's policy regarding referral fee is that Agent negotiates and determines the referral fee amount or percentage with Agent's client or vendor, so I said to myself that I would negotiate that when the deals closes.    Mid January 2020 my deals got closed and I contacted my broker and Opcity to determine the broker fee.  I found out from my Broker that Opcity was non-negotiable with its fee at 35% with my Broker. Opcity's rule is for deals below $150K, they charge 30% and for deals over $150K, they charge 35%.  For the NYC market, there is literally nothing below $150K.  So now Opcity took 35% referral fee from my Broker without my participation.  I got to know it after they took it.  I let my Broker know that I would not have signed up with Opcity if its website was factual about their referral fee schedule at 30% (deals below $150K) or 35% (deals above $150K).     ON the signup agreement between Opcity and Agent, there is no language concerning referral fee schedule either in dollar amount or percentage. Now all of sudden, they took money away from my share.   I feel I don't have a say in the money I have earned and the money slipped away.   I told my Broker before that I would be OK to pay 25% referral fee which is industry standard.  Although my Broker didn't do everything correct by standing behind its agent, and it is seriously in dereliction of asserting its rights to include its agent in negotiation, Opcity's fault lies in bait and switch the agents coming in by its website, and not showing the referral fee on the Opcity-Agent Agreement, and forcefully demanding 35% based on a referral fee schedule not suitable for NYC market.  Today they disabled my Opcity account which doesn't bother me at all since I already consider this company an indecent company short of professional ethics.   Leon 

Rotate Log in or sign up to reply
user profile avatar
  • Posts 2
  • Votes 1

Leon Ye

replied 11 months ago

Further to my previous posting about Opcity, I would like to welcome any other BROKERs to shed some light on your referral fee percentage in your location.. 

Rotate Log in or sign up to reply
user profile avatar
  • Posts 4
  • Votes 0

Erik Johnson
from Hazelhurst, Wisconsin

replied 11 months ago

They create leads, we use them some leads are good some not so good.  Once you get going you should be able to change your values, so just set your number higher as far as price per home.  If your not jamming no harm to try.  We have close one listing and two buyers.. you have nothing to lose. 

Rotate Log in or sign up to reply
user profile avatar
  • Posts 1
  • Votes 0

Rick Williamson
from Williston, South Carolina

replied 8 months ago

We have used Opcity for about a year in my office, and we have all gotten a LOT of leads from them.  As most everyone has said, the overwhelming majority of the leads are garbage.  You have to treat each one of the leads just like you do any other.  You have to weed out the bad leads from the good ones.

I just closed my first Opcity lead this morning.  Not a huge deal, only a $57,000 sale.  But, it's a sale.  I'm also currently working with an out of state Opcity referral that looks to be about a $300,000 sale.  Yes, Opcity will get a chunk of my commission.  But, I may not have had either one of these sales, if it weren't for Opcity.  I've always been of the opinion, that a little bit of something, is a whole lot better than a lot of nothing.

I agree with some of the other posters here.  Opcity should adopt a flat rate 25% referral fee, which seems to be the industry standard.  However, in all fairness, there is someone out there that is well known in the real estate, and financial, arenas, that is charging 35% referral fees to be an endorsed local provider.  So, Opcity isn't the only one charging above industry standard referral fees.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 238
  • Votes 119

Richard Dale-Mesaros
Investor from Campton, New Hampshire

replied about 1 month ago

Does the brokerage take a portion of that 35% Opcity is receiving, on top of the 20% (or whatever) they usually get of the agent's commission?

Rotate Log in or sign up to reply
user profile avatar
  • Posts 238
  • Votes 119

Richard Dale-Mesaros
Investor from Campton, New Hampshire

replied about 1 month ago

Seems to me if you were to sign up as an agent and considering any listing takes around 90 hours (from pre-listing appointment due diligence through post-closing thank-you's.....), it would only make sense on $300k+ closings, which equates to around $50/hour (at 3% commission on the listing side), which I'm sure most agents wouldn't want to dip below.........

Rotate Log in or sign up to reply
user profile avatar
  • Posts 1
  • Votes 0

Rick Williamson

replied about 1 month ago

I've been signed up with Opcity for a little over a year.  For the most part, the leads from Opcity haven't been all that great.  Most of the leads were people looking for properties priced $60,000 or less.  Any leads that were of any real quality have almost always been claimed by the time they came through to me.  There have been rare occasions when I have been able to get a decent quality lead from Opcity, but they have been very few, and very far between.  By the time it's all said, and done, I end up with about half of the commission that is paid to the brokerage.

Is it worth it?  If you're not very busy, and have time to devote to developing the leads that come through Opcity, it is probably worth it.  If you're an established agent, giving up 35% of the commission may not be for you.

We started with Opcity shortly after our agency opened, and we were looking to get our business established, and grow our clientele.  We still use Opcity, however, I have recently changed my notification settings to only receive referrals that are for properties over $60,000.  Since making the change, I have received very few referrals from Opcity.

The no up front cost is a big incentive to give Opcity a try.  But, when you factor in a 35% referral fee for anything over $150,000, it becomes questionable whether it's worth the expense.  That's an individual decision, one each agent has to make for themselves.

Rotate Log in or sign up to reply
  • 1

Related Discussions

  • Off-TopicEnviroTabs - anyone heard/used?Aug 5 2011, 07:30
  • Ask About A Real Estate CompanyAnyone ever used/heard of PropFinder? Sep 22 2018, 20:44
  • Real Estate Wholesaling Questions & AnswersWhat's the catch with myhousedeals.com?Dec 29 2020, 09:07

Related Blog Posts & Podcasts

  • BiggerPockets Daily 100: You Can Avoid After-Hours Phone Calls From Tenants—Here’s How by Andrew SyriosJan 22 2021, 00:00
Related Resources Real Estate Technology, Social Media & Blogging
5 Extreme Methods I Use to Save Time in My Workday
Gather Your Dream Team: Must-Have Real Estate Team Members
The (Brutal) Truth About Why You Can’t Find a Partner
LLC vs. S Corporation: Which Is Better for Real Estate?
6 Real Estate Side Hustles to Make Extra Money & Gain Experience
Resources Read, see, and learn more!
Link Real Estate Investment Calculators
Link BiggerPockets Blog
Link Path to Purchase
Link Mortgage Loans
Link Find a Contractor
Link Real Estate Agents
Link Hard Money Lenders
Link Real Estate Listings

Top Contributors

Christian Szpilfogel
Christian Szpilfogel
Ottawa Ontario, Canada
7.38
Score
Jonathan Swartz
Jonathan Swartz
Dallas, TX
7.38
Score
Bill Goodland
Bill Goodland
Allentown PA, United States
4.88
Score
Aaron Bihl
Aaron Bihl
San Antonio, TX
4.17
Score
Eric Fernwood
Eric Fernwood
Las Vegas, NV
4.17
Score

Real Estate Technology, Social Media & Blogging Trending Discussions

  • Monday.Com? Work Flow Software for Rehabs, Sales, Deal Flow
    3 Replies
  • Task/Process Management? Looking for something to work with teams
    1 Replies
Log in Sign up

Log in

Forgot password?

If you signed up for BiggerPockets via Facebook, you can log in with just one click!

Log in with Facebook

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Let's get started

We just need a few details to get you set up and ready to go!

Use your real name

Use at least 8 characters. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Why create an account?

Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing.

Connect with 1,000,000+ real estate investors!

Find local real estate meetups and events in your area.

Start analyzing real estate properties, we do the math for you.

It's free!

Explore

  • Membership
  • Community
  • Education
  • Marketplace
  • Tools
  • FilePlace
  • REI Resources
  • Perks
  • Glossary
  • Reviews
  • iOS App
  • Android App

Company

  • About Us
  • Press
  • Advertising
  • Careers
  • Stats
  • Contact Us

Important

  • Editorial Guidelines
  • Terms of Use
  • Rules
  • Privacy
  • FAQ

Social

  • Facebook
  • Twitter
  • YouTube
  • Instagram
© 2004-2021 BiggerPockets, LLC. All Rights Reserved.