Condodomain - AbsoluteAstronomy.com

CondoDomain is one of the first web-based real estate brokerages.

The company specializes in urban properties and condominium

Condominium

A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights...

s and is claimed to be one of the first nationwide firms to refund commissions

Commission (remuneration)

The payment of commission as remuneration for services rendered or products sold is a common way to reward sales people. Payments often will be calculated on the basis of a percentage of the goods sold...

back to the consumer

Consumer

Consumer is a broad label for any individuals or households that use goods generated within the economy. The concept of a consumer occurs in different contexts, so that the usage and significance of the term may vary.-Economics and marketing:...

.

The companies’ business model

Business model

A business model describes the rationale of how an organization creates, delivers, and captures value...

is half online and half personal.

History

CondoDomain was founded in 2005 by Anthony Longo as a lead generation

Lead generation

Lead generation, or lead gen is a marketing tool used, particularly in internet marketing, to generate consumer interest or inquiry into products or services of a business. Leads can be generated for a variety of purposes - list building, e-newsletter list acquisition or for winning customers....

business for luxury high-rise condominium developers. In 2008 the company morphed into a licensed real estate broker in Boston

Boston

Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...

, MA. The company is now a licensed real estate broker in 16 cities including: Austin

Austin

Austin is the capital of the U.S. state of Texas.Austin may also refer to:-In the United States:*Austin, Arkansas*Austin, Colorado*Austin, Chicago, Illinois*Austin, Indiana*Austin, Minnesota*Austin, Nevada*Austin, Oregon...

, Baltimore

Baltimore

Baltimore is the largest independent city in the United States and the largest city and cultural center of the US state of Maryland. The city is located in central Maryland along the tidal portion of the Patapsco River, an arm of the Chesapeake Bay. Baltimore is sometimes referred to as Baltimore...

, Boston

Boston

, Chicago

Chicago

Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...

, Dallas, Denver, Ft. Lauderdale, Hoboken

Hoboken

Hoboken may refer to:*Hoboken, New Jersey, United States*Hoboken, Antwerp, a district of Antwerp, Belgium*Hoboken, Georgia, United States*Hoboken, Alabama, United States*"Hoboken", a song on Operation Ivy's 1988 album Hectic-See also:...

, Houston, Los Angeles

Los Ángeles

Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...

, Miami, New York City

New York City

New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...

, Philadelphia, San Diego, San Francisco and Washington D.C..

During the first quarter of 2011, CondoDomain.com reached its One Millionth Refund Dollar.http://agentgenius.com/real-estate-sales-marketing/brokerage/condodomain-has-given-away-over-1000000-ag-exclusive/

Funding

In late 2005, the company raised $500,000 in private angel funding.
In January 2011, the company closed on another round of private angel funding. http://www.trulia.com/blog/boston_condos/2011/01/condodomain_com_secures_a_significant_private_investment

Traditional Real Estate Broker vs. CondoDomain

Soon after launching as a real estate broker in 2008 the company gained significant traction in the Boston marketplace, mostly due to its "Cash Back" commission refund program where buyers who worked with CondoDomain would get a significant cash back refund. This sparked a feud with downtown Boston real estate brokers and one even filed a lawsuit

Lawsuit

A lawsuit or "suit in law" is a civil action brought in a court of law in which a plaintiff, a party who claims to have incurred loss as a result of a defendant's actions, demands a legal or equitable remedy. The defendant is required to respond to the plaintiff's complaint...

to that extent. The suit was dropped shortly afterwards as the plaintiff

Plaintiff

A plaintiff , also known as a claimant or complainant, is the term used in some jurisdictions for the party who initiates a lawsuit before a court...

did not have any right to engage in a lawsuit against CondoDomain.

Sources

"CondoDomain sued over shift to brokerage by Inman News, Jan. 23, 2009
"Hub Condo King sues Web start-up co., Jan. 22, 2009 by Boston Herald, Jan. 22, 2008
"CondoDomain Flat-Fee Brokerage Service Sued Over Brokerage Shift: Choice Choice, Baby" by Dallas Dirt, Jan. 22, 2008

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