Reaslo is able to save home sellers thousands of dollars in real estate commissions.
San Francisco, CA (PRWEB) March 28, 2012
The traditional real estate model of paying licensed agents a commission of 5%-6% to sell a home or investment property has largely gone unchanged in the past 100 years. A new company called Reaslo (http://reaslo.com/) is hoping to change that.
With the housing market still in major recovery mode, home sellers and real estate investors are looking for any edge they can get when it comes to saving money and time in selling real estate. Paying high agent commissions, going through piles of manual paperwork, and having little visibility into the overall selling process are all major pain points incurred by sellers today in using traditional real estate agents to sell their property. Reaslo is changing all of that by providing sellers with a technology driven, automated tool to sell their property without the need for a real estate agent, thus saving them thousands of dollars in commissions and eliminating the headaches associated with the current process.
The way it works is surprisingly simple. A seller spends only about 10 minutes creating a listing for a property. Reaslo will then re-post the listing on the local Multiple Listing Service, Realtor.com, Zillow, Trulia, Yahoo, Craigslist, and many more sites for free. After buyers attend open house times, they will make offers to the seller directly online that can be accepted, countered, or declined from a convenient seller dashboard page. Once an offer has been accepted, the contract automatically moves to escrow, with the required legal documents and paperwork automatically managed by Reaslo's technology. Once escrow closes, the sale goes on record with the County Recorder's Office.
The How It Works gets even better with Reaslo's flat fee pricing model -- nothing is owed up front to list a property or to host an open house with one of Reaslo's agents. In fact, Reaslo will even send a professional photographer to take pictures of a seller's property for free, and will also send sellers an easy-to-understand pricing analysis and recommendation for what a seller should sell a property for.
Sellers don't pay a penny until they are ready to accept or counter-offer a buyer's offer online. So a seller can actually go through a huge part of the process without ever paying anything, and without any pushy agents trying to manipulate the process. When a seller is ready to accept or counter-offer a buyer's offer, he/she pays $250 of the $1,000 fee. The remaining $750 of the fee gets paid at the end when the house is sold and goes on record with the County Recorder.
In talking to Co-Founder and CEO Mark Thomas more about why he and his co-founders created Reaslo, he said, "The current real estate model is archaic and broken. We as co-founders have experienced the pain points of buying and selling properties as investors and brokers, and we're tired of it. And in talking to other investors and experienced home sellers, they've shared similar painful stories. So for us, it's personal and all about helping save sellers money and time."
Version 1 of the product launches today, and is currently available only in California. According to Mark, the Reaslo team will be making continuous updates and improvements to perfect the product, and they hope to launch in other states later this year. Check it out at http://reaslo.com/.