A tech start-up is hoping to disrupt the real estate industry with the launch of its new business model
A tech start-up is hoping to disrupt the real estate industry with the launch of its new business model.
REALICITY is launching in New York initially before a national roll-out and wants to make real estate agent commissions a thing of the past by offering sellers a service for a fixed fee.
The service is betting on being in the right place at the right time and hopes that is mix of cutting-edge technology and local Realtor experience will make it a go-to alternative for tech-hungry millennials.
Co-founder of REALICITY is former real estate broker Philip Askeroth who says that "In much the same way that Etsy lets makers connect with customers and Airbnb lets travelers find places to stay,
REALICITY liberates the home-selling process, and lets sellers keep a lot more from the sale of their own home.”
Sellers can opt to use the services of an agent or not. This includes showing the home, pricing, negotiating and closing. The process of buyers making offers through to the final closing can all be done electronically via the platform.
While some sellers will be attracted to a fixed fee as an alternative to commission, a key challenge for the business will be whether young buyers will be willing to take a big step into homeownership using a tech platform.
REALICITY is launching in New York initially before a national roll-out and wants to make real estate agent commissions a thing of the past by offering sellers a service for a fixed fee.
The service is betting on being in the right place at the right time and hopes that is mix of cutting-edge technology and local Realtor experience will make it a go-to alternative for tech-hungry millennials.
Co-founder of REALICITY is former real estate broker Philip Askeroth who says that "In much the same way that Etsy lets makers connect with customers and Airbnb lets travelers find places to stay,
REALICITY liberates the home-selling process, and lets sellers keep a lot more from the sale of their own home.”
Sellers can opt to use the services of an agent or not. This includes showing the home, pricing, negotiating and closing. The process of buyers making offers through to the final closing can all be done electronically via the platform.
While some sellers will be attracted to a fixed fee as an alternative to commission, a key challenge for the business will be whether young buyers will be willing to take a big step into homeownership using a tech platform.
