Agent Ace

About Agent Ace

Agent Ace, Inc. operates as a data-driven online platform designed to connect home buyers and sellers with top-performing real estate agents. The company was founded by Mazen Fawaz, a commercial real estate developer who began analyzing real estate data in 2008 to identify agent performance trends. This research culminated in the official consumer launch of Agent Ace in May 2013. The firm established its headquarters in Santa Monica, California.

The core of Agent Ace's service is a proprietary algorithm that analyzes quantitative historical data from the Multiple Listing Service (MLS). This technology assesses real estate agents based on their actual transaction performance in specific, hyper-local areas, considering factors like property type, price range, and location. For consumers, the service is free and aims to provide an unbiased, scientific match with an agent most likely to sell a home quickly and for the highest value, or to secure a purchase at the best price. Unlike other platforms, Agent Ace does not publicly rank agents or accept advertising from them, ensuring its recommendations are based purely on performance data. Revenue is generated by taking a 20% to 30% referral fee from the agent's commission upon the successful closing of a sale.

A significant milestone occurred in November 2015 when the company raised $13.5 million, acquired the home-search website Fypio, and subsequently rebranded itself as OpenHouse. This strategic move integrated Fypio's home-search functionality into a new iOS app, allowing the company to engage with clients earlier in their real estate journey. The expanded platform combined the data-driven agent matching service with property listings and neighborhood insights, drawing from sources like U.S. Census data and Nielsen to provide a comprehensive tool for both buyers and sellers. Prior to this, in August 2014, the company had secured $6 million in a Series A financing round led by March Capital Partners and Triangle Peak Partners, which facilitated its expansion from Los Angeles to 75 other major U.S. cities.