Reali, Yet Another Taking Aim at Commissions
Reali, which raised 2 million in 2016, is another startup taking center aim at commissions (that topic no one likes to talk about).
Sellers, pay a low total commission and get more out of your investment when listing with Reali. Experience selling with Reali.
The challenge with models taking aim at commissions publicly is listings listed with such brokerages are at an instant disadvantage. Why? Because some/many buyers brokers (who have relationships with buyers) won’t pro-actively show their clients these properties — even if they fall within the lines of what they’re looking for. Last I checked, you need two sides of a transaction for a deal to close.
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Bryn Kaufman
Posted at 17:39h, 14 MayReali gives buyer’s agents 2%. I do not think that will prevent agents from showing the property. In my market 2.5% is the norm, so this is lower but not dramatically.
They must have a great pitch to investors because discounting the commission as we know from all the others who have done this is not a path to gain much market share. Then they have the on demand open house and the beacons in the home giving buyers information. Nice tech but not something that a company can grab a lot of market share with.
Drew Meyers
Posted at 10:21h, 15 MayAgreed.
Even though they get their 2% instead of 2.5% — I think there is a bias not to do deals with brokers who discount (and try to push some of the list side work off to the buy side). I have no math to know what % of agents discriminate, but I know it happens — more than people think. I firmly believe those listing with a discount broker are at a disadvantage — fewer buyer showings, fewer offers, and lower selling price. If someone had data on that, I’d love to see it..
Jim Morrison
Posted at 21:47h, 21 JuneThank you for a very clear explanation, a very informative article, now that’s something to learn.