Do you fancy earning a bigger profit on your next sale? Of course you do, that’s not even debatable. But the question is, are you willing to ditch your real estate agent?
Real estate agents can be a huge help to investors, but one of the main factors that takes a chunk out of your profit is the real estate agent’s commission.
Sure, agents can really help a lot in selling properties – but what if I tell you that through this wonderful thing we call technology, you are able to replace a local real estate agent with an app called Reali?
What is Reali?
Two real estate investors from the Bay area, Amit Haller and Ami Avrahami, want to revolutionize the way real estate investors buy and sell property.
Their goal is to take the middlemen out of the picture. Their app enables you to deal with the process yourself. Well, not completely by yourself. See, they also have on-call help that’s readily available.
Reali experts (all licensed real estate agents) are available seven days a week, from 8 am to 8 pm PST. You have the option to chat with them through the app, through email, or you can also call them at 1-844-Hi-Reali.
It’s the fusion of a personal touch that you receive from a Realtor with the cost savings and leverage technology gives you.
Reali is available on iOS and Android devices, and you can download the app for free.
It’s currently available in the San Francisco Bay Area, but you can check out the Cities section from their website or the Filter > Locations in the app for more. You can also request to add a city or enter a zip code to see if Reali is accessible in your area. And, the app notifies you when your market is added to their list.
Out with the Old, in with the New
According to Reali, there are many flaws with the traditional way of buying and selling homes. The entire process is ambiguous and because there are many intermediaries involved, inefficiency and disagreements often arise.
What’s sad is that the real estate agents in the transaction take home a whopping 5%-6% commission for different levels of effort, depending on how good the agents are.
With Reali’s highly efficient, high-tech and high-touch process, you are the only person in control when you buy or sell a property.
The best part?
The buyers and sellers are the ones who get the highest rewards, not the agents. From the standard 5%-6% commission, Reali Experts only receive 1.5% commission, and the rest is yours to keep.
Still kinda confused?
Watch this video to get a clearer picture of what Reali has to offer.
How The App Works
The app should work really well (pun intended) for real estate investors – those who buy and sell houses.
Buyers
Homebuyers must submit the pre-approval mortgage paperwork on the app to gain access. The documents you submitted will then undergo verification and approval by an employee of Reali. Once it has been approved, buyers can start scouting for available houses.
When you find a house that you would like to check out, you can schedule an ‘on-demand open house’ at your earliest convenience. And instead of having a real estate agent accompany you or meet you at the front door, you can unlock the home yourself through a click on the app.
Software in the app knows you are visiting a certain house at a certain time and will provide a self-guided tour. You can also chat with an expert from Reali through the app to answer questions about the house.
This is a nice feature because you can have frank conversations about the house without a Realtor listening in.
From here, you can decide whether you want to pass on the house or submit an offer through the app. Reali lets you make an offer right through the app, alerts you of other offers and gives you the opportunity to respond immediately.
It’s basically a broker in your pocket!
Sellers
If you want to sell a house through Reali, you can contact a Reali expert through email, phone or go through the app for more information.
The app offers savings for the sellers as well. It includes:
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In-depth pre-sale preparation
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Property, neighborhood and pricing evaluations
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‘Smart Staging’ components where Reali sets up your home with innovative technology that presents your home in the way home buyers want these days, such as 3D floor plans
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Ongoing advice
When there are multiple bids on the home you are selling, you can see all of the interested parties in one place.
Reali also has a guarantee – if you do not receive an offer within 60 days of listing with Reali, you won’t pay any seller commission when it does sell (subject to certain terms and conditions).
Fees You Pay
Buyers pay a standard fee of $4,950 to cover the company’s expenses relating to the sale of your property. But you don’t need to come up with almost 5 grand. Reali will subtract the money out of the 2.5%-3% commission they refund to the buyer.
As for the sellers, Reali charges a 4% commission when a home is sold. Compared to the industry average of 6%, you walk away with more money than you do with an agent or two.
If the person buying your property is not represented by Reali, the 4% commission is split between the company and the buyer’s agent.
Whichever angle you look at it, it’s a win-win situation.
Buyers and sellers – real estate investors – make more out of their investment. With no middleman, you have fewer people to manage, little to no conflicts to arise, plus you get to enjoy a bigger profit at the end of the day.
Thoughts, Comments
So, what do you think about this nifty app? Share below.
Break with Tradition – Investors often come up with creative ways to advertise, buy and sell homes on their own. Reali has an innovative way to sell a house. What innovative ideas are in your head?
Use Technology to Sell Your Properties – Remotely controlled door locks, 3D floor plans and other technology can help advertise and stage your properties – look into it.
Negotiate – Lowering Realtor commissions may mean a lower sale price. If you are the buyer of a house that doesn’t have a big Realtor commission involved, you have leverage to lower the price.