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Fundamental Research Corp. Analysts Commence Coverage Of RESAAS Services Inc. (OTC:RSASF), (TSX.V:RSS)

Fundamental Research Corp. now has RESAAS Services Inc. (OTC:RSASF), (TSX.V:RSS) on its watch list and its analysts have already issued a buy rating a fair value expectation of C$1.05 per share.

RESAAS is a blockchain technology and cloud-based platform that is based in Vancouver, Canada. Its blockchain platform provides a network where professionals in the real estate industry in North America can interact. The platform also allows them to get information about new investment opportunities. The analysts also revealed that the firm has been working on a Bloomberg terminal for real-estate brokerage.

“RESAAS Services is a software as a service (SAAS) company that has developed a Business to Business (B2B) referral platform focused on real estate brokerage,” wrote Anthony de Ruijter and Siddhartha Rajeev in a note addressing clients on Thursday.

The report also revealed that the real estate brokerage market is currently in a fragmented state. The U.S alone has more than 1 million agents in its real estate market. Additionally, the U.S real estate brokerage industry is reportedly worth around $73.55 billion annually. The Fundamental Research analysts noted that REESAS Services is a disruptive force in the real estate market because it has multiple solutions that are aimed enhance the performance of real estate brokerage firms, boosting the rate at which deals are happening and also improving the top-lines and bottom-lines of the firms in the industry.

Solutions for some of the problems in the real estate industry

One of the solutions that REESAS has introduced to solve some of the problems in the industry is BrokerOS. It is a communication platform aimed at enabling agent to agent partnerships within a brokerage. It was developed to increase referrals as well as internal deals and it works just like a social media platform. Another recently introduced solution is RealTimeMLS, which is a solution that facilitates real-time property listing sharing. It makes it possible for agents in the same network to share on-market and off-market listings.

The analysts also wrote that non-public or pre-market listings in the real estate market usually cause pricing inefficiencies. REESAS has therefore introduced RealTimeMLS and BrokerOS to solve those issues. The company also offers a freemium model to its non-enterprise users and those registered have the option of paying a monthly fee of $30 in order to access premium features. The latter includes analytics that give lead insights to the agent and real-time referral notifications within an agent’s area.

REESAS’ wants to improve its services by incorporating blockchain technology

Analysts from Fundamental Research also revealed in their report that RESAAS recently signed an acquisition deal with a blockchain technology company whose focus is on the real-estate industry. This means REESAS might start using smart contracts to process transaction fees as one of the means of generating revenue using the platform.

The blockchain firm is called Real-Block Inc. and the deal is vital for REESAS according to the analysts especially with regards to smart contract capability. The “buy” rating recommended by the analysts is a good sign for the company because it means they have identified its potential for growth.

 

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