RealTrade aims to empower real estate agents to develop their online presence, potentially lowering costs for buyers and sellers.
If you’ve ever gone to buy or sell a home, you may have noticed that the industry is lagging behind in technical terms. MLS Lists, the source material that sits at the heart of the real estate data ecosystem, creates reports that look like they are from the last century. And already existing solutions tend to be more focused on making money for the company, rather than establishing a connection between buyers, sellers and agents.
As founder and CEO of West Palm Beach RealTrade, Ryan Poole knows these issues firsthand, having worked in the real estate industry for over two decades. Two years ago, he decided to tackle this problem by developing his own solution.
Major platforms like Zillow and Trulia create a competitive environment that ultimately hurts all parties involved. “We eliminate middlemen by allowing buyers and sellers to contact listing agents directly,” says Poole. “It gives buyers and sellers more insight and helps agents build the local online business they’ve always wanted.”
On legacy platforms, agent contact information does not appear in the lists. Instead, these websites pit agents against each other to bid on listings. In Poole’s experience, this can create confusion for buyers: “When users call an agent listed on Zillow, they think they’re calling the listing agent, but this is usually not the case. Pairing with an agent can take from 10 to 15 minutes, and then the buyer often knows more information, because he is looking directly at the ad, but the agent does not. “
RealTrade is changing the scenario by allowing agents to create their own social media-style profiles for their listings. Agents can easily share lists and cross-promote on social media. Buyers and sellers can also create accounts to keep track of listings and agents and agree to be contacted about properties they like.
Community is at the heart of the Pool. RealTrade is based at the West Palm Beach Innovation Center. 1909 g.and Poole participated in their accelerator program. “RealTrade wouldn’t exist without 1909, the entrepreneurs who work here, and the accelerator program,” Poole said. Refresh Miami…
Poole pledged to hand over 1% of RealTrade in 1909 to help them “do whatever it takes to help develop the community and support entrepreneurs here.” Real estate professionals also have the option to accumulate points for referring other agents to the platform, which Poole says they can later convert and invest in RealTrade stock.
The platform currently employs over 100 agents throughout South Florida, representing 30 different brokerage firms, as well as 500 buyers and sellers. The pool targets 1000 agents. Once RealTrade reaches this threshold, Poole plans to start offering membership opportunities to title companies, mortgage brokers and appraisers. Unlike agents, buyers and sellers, these subsidiary stakeholders will have to pay to use the platform. But Poole expressed confidence that they will see the value of RealTrade as a sales funnel for their business.
Poole plans to launch a crowdfunding campaign in the next three months. This fits in with Poole’s broader mission to democratize business or to combat the avaricious accumulation of assets at the expense of public ownership. “What really motivates and inspires me about RealTrade is that it is supported and guided by the community,” Poole explained. “When you allow people who add value to platforms to own those platforms. This is the future and I would love to see RealTrade become a leader in this new model. ”
Check RealTrade website to learn more and register for free.
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