A startup touting rock-bottom fees, transparent bidding and a mobile app "in lieu of a traditional agent" is the latest upstart brokerage to launch with millions in the bank. Reali's business model revolves around an app that offers listing search, the ability to make and view offers, submit paperwork and chat with a "live expert." The brokerage launched yesterday with five agents in Palo Alto, California and $2 million in funding from a real estate investment firm owned by Reali's two founders and a number of Silicon Valley investors. Reali is betting that today's homebuyers and sellers need less handholding and are happy to rely on technology to transact if it means paying less. The company's co-founders, Amit Haller and Ami Avrahami, aren't starry-eyed 19-year-olds bumbling into an industry they don't understand. They previously founded a real estate investment firm, Butterfly Investments, that manages over 1,000 rental units, according to Haller. ...
- Reali's business model revolves around an app that offers listing search as well as the ability to make and view offers, submit paperwork and chat with "live experts."
- The brokerage launched with five agents in Palo Alto, California.
- Reali is working toward a goal of double-ending more transactions by providing a buyer platform and making it easy to tour listings without agents.
Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel