BREAKING NEWS: July 31, 2018
RESAAS (TSX.V: RSS.V) (OTC: RSASF) Signs Joint Venture With San Francisco Title Technology Company to Tokenize every property in the United States, backed by Investment Bank US Capital Global to Raise Up To $7 million USD.
VANCOUVER, B.C. (July 31, 2018) – RESAAS Services Inc. (TSX-V: RSS, OTCQB: RSASF), a cloud-based technology platform for the real estate industry, is pleased to announce that it has entered into a Memorandum of Understanding (MoU) with San Francisco-based blockchain company Real Estate Consortia Inc. Under the terms of the Joint Venture, RESAAS will be issuing a first-to-market, patent-pending title token developed by Real Estate Consortia for every property in the United States.
As part of the Joint Venture, RESAAS and Real Estate Consortia have engaged San Francisco based Investment Bank US Capital Global to raise up to $7 million USD on a best efforts basis through convertible notes in the Joint Venture partnership.
As the number of households in the US continues to grow, now crossing 125 million in 2017, accurately tracking information related to these properties: the loans backing each property, title information, and history of transactions. The mechanisms currently in place across the US are fragmented, archaic, and inefficient.
“We are excited to enter a Joint Venture with Real Estate Consortia, and bring to market a compelling use of tokenization for the real estate sector,” said Tom Rossiter, CEO of RESAAS. “We have become increasingly aware of opportunities within real estate for intelligent use of blockchain technology. We believe Real Estate Consortia title token technology to be an accretive addition to our members, our business and the entire real estate landscape across North America.”
The NewCo revenues will be generated via a virtual ‘Deal Room’ running on the RESAAS platform. The Deal Room is where property transactions will be tokenized. For every home transacted in the Deal Room, NewCo will receive a fee based on the commission generated from the transaction. Agents and clients involved will also earn a portion of the fee, which will drive adoption, engagement, and retention of the service. All profits generated through NewCo will be shared equally by RESAAS and Real Estate Consortia.
“Our team believes we’ve found a perfect partner to launch our patent-pending token technology to the North American real estate market with RESAAS”, said Teresa Grobecker, CEO of Real Estate Consortia. “Having built San Francisco’s first real estate brokerage to accept Bitcoin, we have curated our token around keeping the Realtor as the hero in the transaction. This is the perfect application for blockchain technology, allowing anyone to backcheck and validate a property’s history and provenance.”
By using blockchain technology and leveraging its distributed ledger benefit, homeowners will be able to access the title token through their licensed real estate agent on the RESAAS Platform. The token will provide updates about the property title and recorded claims on the property. Homeowners will be able to add historical information about their property allowing them to track the lifespan of their home. The more information clients add, the higher the property’s provenance (title score), the more desirable, marketable, or improve loan rate the consumer can receive.
RESAAS intends to initially offer this service to its real estate association and enterprise clients, before rolling the service out network wide. This will maximize its adoption and allow these organizations to help initiate progression within organized real estate.
About RESAAS Services Inc.
RESAAS is a cloud-based and blockchain technology platform that enables real estate brokerages, franchises and associations to bring real-time communication, new business opportunities and unique data to their agents on a global basis. Visit www.resaas.com for more information.
About Real Estate Consortia:
Real Estate Consortia is the single source of truth for real estate title and all details pertaining to real estate transactions. This transformative, patent-pending blockchain technology will help property owners protect their chain of title, enhance Realtor – client relationships, enable faster and safer real estate transactions, and provide more transparent and real-time data for lenders and title companies. Visit www.reconsortia.com for more information.
How Blockchain Technology Will Solve Real Estate’s Billion Dollar Problem.
Roth Capital Partners has consistently listed RESAAS Services Inc. (TSX.V:RSS, OTCQX:RSASF) as a BUY with a Target Price of $2.35.
RESAAS Services Inc. (TSX-V:RSS, OTCMKTS:RSASF) Is Prepared to Completely revolutionize the way we buy and sell property and savvy investors are already taking note as the plucky firm looks set to take off.
There are some things that everyone needs; food, water and a roof over our heads. This last one makes the real estate market an essential factor of our everyday lives . Investors want to own property, families want to buy homes and everyone else needs to rent. Despite its importance the real estate sector has seen very little in the way of innovation and has long been plagued with inefficiencies.
As any seasoned investor understands inefficiencies are opportunities in disguise. RESAAS is the first company to really grasp this chance to make a positive change. Their unique technology will not only revolutionize real estate but represents an unparalleled opportunity for investors who take action while the company is still flying under the radar.
The Real Estate Sector Needs Disruption
The real estate market is particularly ripe for disruption. The market is built upon four pillars; Agents, Brokers, Franchises and Multiple Listing Services (MLS). The communication between these disparate entities has long been one of the major friction points in an industry that relies on speed and good information in order to thrive.
Without an industry specific solution it has traditionally been difficult to obtain and share information. If you wanted to sell a house you would generally need to go through an agent, who might have extensive local knowledge but lack the connections required to reach out to buyers.
They normally have to upload the property onto an MLS or reach out to other members of their brokerage and franchise in order to source the right buyer. This can take weeks or even months, by which time the seller could have incurred significant losses or the market could have seen significant shifts.
The knowledge and information is all there, it’s just trapped in silos and mired down in endless friction points. Existing social media solutions have helped to mitigate some of these problems. Facebook groups, in particular, have made it easier than ever to share listings and find the right buyers or tenants.
The problem is that none of these solutions actually break the information silos. They are also reliant on the use of third party programmes in order to track listings and communicate information. No existing solution has been able to solve the systemic communication problem the real estate sector faces. Until RESAAS had their lightbulb moment.
A Social Media Solution Tailored For The Real Estate Sector
Most companies would have been content with simply creating an innovative solution but for RESAAS Services Inc. (TSX-V:RSS, OTCMKTS:RSASF) the only possible way to resolve the problems facing the Real Estate Sector was to completely disrupt it. The RESAAS team realised that the real problem was that there was no dedicated solution for the Real Estate market. So they set out to create a solution that would become the standard communication platform for residential and commercial real estate professionals globally.
RESAAS would never be able to achieve this goal by simply integrating existing solutions. Instead the company opted to build a dedicated solution that could provide something for each of the four pillars of the sector.
- Agents – Get the opportunity to share local expertise with a global market and access more referrals than ever
- Brokers – Can connect their agents through a pre-market network that can increase their deal flow and improve their own bottom line
- Franchises – Can boost leads and communication between their network of agents and offices, helping to increase their overall value
- MLSs – Can take control of pre-market activity and ensure that their listings provide the most value for both sellers and buyers
By ensuring that their service has value to every piece of the puzzle RESAAS are able to break the information silos that have held back the sector for so long. Before RESAAS it could take an agent more than 30 days to get a listing on an MLS, now it takes just minutes. The platform can also be synchronized with traditional social platforms like Facebook, twitter and LinkedIn to allowing agents to manage their social media presence from a single platform.
An agent can upload a listing in minutes as opposed to weeks
RESAAS pioneered BrokerOS; a tool designed to act as a communication hub for all of the agents within a broker. In many ways BrokerOS is similar to more generic solutions like BaseCamp except that it is tailored to the real estate sector. It allows agents to communicate across multiple offices by taking advantage of virtual bulletin boards and using push notifications to ensure that agents don’t miss any vital communications.
All brands using RESAAS have access to a free mobile App for agents and brokers
Another important innovation pioneered by RESAAS is RealtimeMLS. Currently being adopted by the San Francisco association of Realtors (SFAR) the platform allows agents to browse through thousands of listings and easily exchange referrals and sell real estate. This platform has helped to revolutionize the way that SFAR members do business.
The Future Of Real Estate Lies In Blockchain
Alone these solutions are impressive but RESAAS are also developing a blockchain platform for agent to agent referrals. This will connect agents in a secure network where they are able to share and monetize their unique local knowledge while also helping their colleagues make new sales. It’s a truly unique development and is another feather in RESAAS’ cap.
As well as Blockchain Technology RESAAS uses AI and Machine Learning To Predict Market Trends
RESAAS have also entered into a Memorandum of Understanding with San Fransico-based blockchain company Real Estate Consortia Inc. This JV will allow RESAAS to issue a first-to-market patent-pending token for every property in the United States and Canada. This venture will be funded using a $7 million USD injection of capital raised on a best effort basis by Capital Global under the NewCo company.
This venture will finally allow prospective buyers and sellers to get a complete background on the history of a property, including the loans backing then, title information and a history of all transactions. This impressive solution could help to combat money laundering, make purchasing a home more transparent and even allow homeowners to get access to more favorable loan conditions.
By taking the risky step to develop blockchain technology RESAAS Services Inc. (TSX-V:RSS, OTCMKTS:RSASF) demonstrate that they have one eye fixed firmly on the future.
RESAAS Have Already Leveraged Their Technology Into Real Growth
RESAAS Services Inc. (TSX-V:RSS, OTCMKTS:RSASF) represents a rare opportunity for the switched on investor. Not only do they already have a proven suite of tools but the company has been able to close a number of significant deals and has already passed several important milestones.
Their first major rollout to the San Francisco association of realtors helped to demonstrate the huge potential of RealTimeMLS. The most significant problem any new software faces is convincing users to actually use it. Over the course of the year RESAAS was taken up by 93% of all active agents in the SAFR network. This only happens if the software is actually helpful and simple to use.
This helps to explain how RESAAS has been able to sign a number of significant deals across North America. Most notably the company has secured an agreement to supply the Rhode Island Association of REALTORS with their statewide MLS.
On May 31st the company also secured an agreement with the Toronto based REIN group of companies. REIN has empowered over 39,000 transactions worth around 5.09 billion CAD. REIN is one of the largest and longest running real estate investment education and advisory firms in Canada. The initiative will launch in Canada in late 2018 under a new name and will be released globally in 2019. Finally Reality Universal has taken advantage of RESAAS services to power its United States agent Referral network.
On top of these new deals RESAAS is already used by the two largest real Estate Franchises in the United States, RE/MAX and KellerWilliams and five of the 12 largest cities in the United States have taken advantage of RESAAS technology at a regulator level.
RESAAS isn’t just present in the US and has already been localized into 22 languages and is compatible with 45 currencies. Currently RESAAS has a strong presence in Canada, the United States, Brazil, Mexico, and Turkey.
This growth has been mirrored in existing markets. Over the course of 2018 there has been a 63% increase in the number of listings on RealTimeMTS in the San-Fransico area, there has also been a 56% increase in the number of buyer need requests posted in the first five month of 2018, compared to the same period in 2017. This increase was thanks to a number of enhancements to the RealTimeMLS platform, including better integration with SFARMLS, a native mobile application, push notifications, better analytics and refined search capabilities.
With A Complete Product And Proven Business Model RESAAS Represent A Rare Investment Opportunity
Unlike many other offerings at a below zero dollar price range RESAAS has a suite of proven technologies, a rapidly growing client base and target market, as well as tangible growth. In fact at the moment there are over 445 thousand agents signed up to the RESAAS platform across 180 countries and over 4,437 new listings added every single month.
This kind of volume represents serious value for RESAAS Services Inc. (TSX-V:RSS, OTCMKTS:RSASF) and therefore their investors. RESAAS takes a 5.5% “RESAAS pay” fee on every referral fee for RESAAS agents. Assuming the average transaction value from a referral on the RESAAS platform, RESAAS is already able to obtain an average of $68,475 a month in just referral fees. This figure is set to grow rapidly as new deals are signed and the blockchain technologies being developed by RESAAS mature.
RESAAS was already able to generate some impressive growth over the course of 2017 and the first half of 2018. The company saw an increase in revenue of more than 50% over the course of 2017. In Q3 alone there was a 137% year on year increase from Q3 2016. RESAAS looks set to build upon these figures over the course of 2018 for another impressive performance.
With numbers like this it is shocking that ESAAS Services Inc. (TSX-V:RSS, OTCMKTS:RSASF) have been able to fly under investors’ radar for so long. Indeed Roth Capital Partners have consisted listed RESAAS as a buy with a target price of $2.35. The only concern analysts have surrounding RESAAS is that the company hasn’t yet experienced a major revenue breakthrough, a state of affairs that won’t last for long.
opportunities like RESAAS Services Inc. (TSX-V:RSS, OTCMKTS:RSASF) are incredibly rare. It is a company that has quietly developed the most successful technology suite for one of the World’s most important markets. On top of this they are first-movers in the blockchain Real Estate scene with plans to tokenize every property in North America and potentially the world. They have a loyal client base, proven technology and an incredibly deep target market to tap. The potential of RESAAS and their technologies are endless.
You might have been too late for Apple, doubted Bitcoin and forgone Facebook but the next opportunity might well be staring you in the face. RESAAS Services Inc. (TSX-V:RSS, OTCMKTS:RSASF) is in the perfect position to succeed and brave investors will be the ones to benefit. Will you be one of them? Or will you regret letting RESAAS slip through your fingers…
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RESAAS Signs Joint Venture With San Francisco Title Technology Company to Tokenize every Property in the United States, backed by Investment Bank US Capital Global to Raise Up To $7 million USD
BREAKING NEWS UPDATE: July 31, 2018 – RESAAS Services Inc. (TSX.V: RSS, OTCQX: RSASF) RESAAS Signs Joint Venture With San Francisco Title...