Add another firm to the list of tech-based startups hungry to revolutionize the traditional home buying and selling experience: Reali.com.
According to L.A.’s “The Real Deal,” Reali “uses artificial intelligence and big data to help facilitate the process of buying and selling a home, a process its founders say can be handled entirely from an app on a mobile phone.”
The company has set its sights on a sacred cow of the real estate industry: commissions. From Reali’s perspective, a tiered, flat-fee structure is what sellers and buyers have been demanding for years. According to the article, “Sellers listing on the platform will pay a flat fee, plus a typical buyer’s agent commission between 2 and 3 percent once their home sells. The buyer’s agent commission, minus the flat fee Reali keeps, will then be handed to the buyer as a refund once the deal closes.”
How does this work out for agents? Well, according to Reali, agents work on a salary instead of commission. (And they’re hiring.)
Will Reali upend the industry? It remains to be seen. So far, they’ve had some success, and they’re part of a pack of companies who see a real opportunity to change the industry. Don’t get taken by surprise. Keep your finger on the pulse of these startups. Learn more about Reali here:
