701 Realty, Inc.

What 701 Realty, Inc. does

701 Realty, Inc. is a privately held, founder-owned real estate brokerage founded in 2018 and headquartered at 24 1st Street NE in Minot, North Dakota. The firm is co-owned and operated by Andrew Gudmunson (Owner/Broker) and McKenna Gudmunson, both Minot natives, and operates as a full-service brokerage representing buyers and sellers across residential and commercial property transactions. Andrew Gudmunson brings nine years of industry experience and has completed hundreds of commercial and residential transactions.

The firm's service catalog centers on transaction brokerage supported by a standard property search portal (search.701realty.com) powered by the third-party Cevado platform, with separate sections for featured listings, commercial listings, and location-specific searches across 20+ North Dakota communities. Supporting tools include a home evaluation request form, a third-party mortgage calculator (usmortgagecalculator.org), and a Realty Watcher email notification service that alerts subscribers when new listings matching their criteria hit the market. Beyond these standard brokerage tools, 701 Realty has no proprietary technology, no API offering, no mobile app, and no disclosed AI capabilities.

Revenue is generated exclusively through real estate commissions on closed transactions, with the brokerage representing both buyer and seller sides across residential and commercial deals. Pricing is not publicly disclosed. The go-to-market motion combines agent-led personalized service with a self-service online search portal and community-driven brand building via a charitable giving program under which a percentage of every closing is donated to local charities. Customer segments are exclusively individual home buyers and sellers, commercial property clients, lake/cabin buyers, and property owners seeking valuations, all within a regional North Dakota footprint.

Name

701 Realty, Inc.

Legal name

701 Realty, Inc.

Website

https://701realty.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

701 Realty, Inc. is a founder-owned residential and commercial real estate brokerage founded in 2018 in Minot, North Dakota, serving individual buyers, sellers, and commercial clients across 20+ North Dakota communities through 15+ licensed agents.

Ownership category

akta.pro rank

Product category

Residential Real Estate Brokerage

NAICS

Offices of Real Estate Agents and Brokers (53121), Offices of Real Estate Agents and Brokers (5312)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Traditional Residential Brokerage (Existing Homes) (BPAJAAAA)

akta.pro secondary industry

Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

Keywords

• Residential real estate brokerage
• Commercial property sales
• Property search platform
• Home valuation services
• Buyer agent representation

Headquarters

HQ city

Minot

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D

Revenue model

1. Real Estate Commission: 701 Realty generates revenue through commissions on residential and commercial property transactions. As a full-service real estate brokerage, they represent both buyers and sellers, earning a percentage of the transaction value upon closing.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

701 Realty, Inc. is a full-service real estate brokerage providing residential and commercial property sales representation in Minot, ND and 20+ surrounding communities in North Dakota. The company operates through 15+ licensed real estate agents and offers an online property search portal, home evaluation tool, mortgage calculator, and Realty Watcher email notification service to support buyer and seller transactions.

Product overview

701 Realty, Inc. operates as a single-brand real estate brokerage offering a unified platform of property services centered on residential and commercial property transactions. The core product portfolio consists of a property listings search portal (search.701realty.com) with sub-products for Featured Listings and Commercial Properties, complemented by a Home Evaluation tool for valuations. Additional service modules include a Mortgage Calculator and Realty Watcher email alert service. The company provides buyer and seller agent services, home evaluation assessments, and community-focused giving programs. The product architecture is a single integrated offering rather than a platform-plus-modules model.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Real Estate Brokerage Services
• Commercial Real Estate Brokerage Services
• Property Search Portal
• Home Evaluation Service

Quantifiable outcome

• $37,044 donated to local charities since 2018
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Keller Williams Realty: Large US-based residential brokerage franchise with a heavy agent-centric, training-driven culture. Operates in North Dakota and competes directly for buyer/seller representation and agent recruitment in the same regional markets.
• Coldwell Banker: Established national brokerage brand with a strong franchise network providing residential and commercial real estate services. Competes in the same North Dakota markets with similar full-service brokerage offerings and agent-led transaction model.
• Century 21: Global residential and commercial real estate franchise. Founder Andrew Gudmunson previously operated at Century 21, making it a direct prior context for 701 Realty's structure and a comparable commission-based brokerage model serving residential buyers and sellers.
• RE/MAX: One of the largest global real estate franchise networks with a similar commission-based model and independent-agent structure. Operates in Minot and across North Dakota, directly competing for the same residential and commercial clients as 701 Realty.
• Better Homes and Gardens Real Estate: National franchise network offering residential brokerage with brand backing from the Better Homes and Gardens media platform. Operates through local franchisees in comparable markets, often competing for the same agent and client segments.
• Berkshire Hathaway HomeServices: National real estate brokerage franchise affiliated with Berkshire Hathaway, offering residential and commercial services. Competes for the same upper-end and mid-market clients in the North Dakota region as a full-service brokerage.

Emerging players

• Redfin: Tech-enabled residential brokerage with a discount commission model and integrated online search platform. Not locally dominant in Minot, but represents the consumer-facing technology shift that pressures traditional commission-based independents like 701 Realty.
• Compass: Tech-forward national brokerage with in-house platform tools and an agent-friendly economics model. While primarily in larger metros, it represents the tech-enabled brokerage evolution that independents like 701 Realty are benchmarked against.
• HomeSmart: Growing national brokerage known for high commission splits and a low-overhead franchise model. Competes with independent brokerages for agent recruitment and serves a similar residential buyer/seller value proposition.
• eXp Realty: Cloud-based, agent-centric brokerage that has rapidly scaled through a low-overhead model with high commission splits. Competes with 701 Realty for agent recruitment in North Dakota and represents a structurally different cost model that pressures traditional independents.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/701realtyinc
• LinkedInlinkedin.com/company/701realtyinc
• Instagraminstagram.com/701realty

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 701 Realty, Inc.