This Real Estate Service Lets You Be Your Own Agent
Reali is a Bay Area startup trying to streamline the home-buying business by helping people cut out the middleman
From Redfin to Super to NousDecor, the latest round of real estate startups have proven that traditional industries laden with middlemen cannot escape the cost efficiencies that technology now offers homeowners and sellers. Enter the latest addition: Palo Alto-based Reali, an app that allows house hunters to handle every step of the process themselves without the assistance of a real estate agent.
Here is how it works:Search Home: Home buyers can use the Reali app to search available listings in their service areas. They can then filter by location, price, features, amenities, view images, get detailed property information, and neighborhood statistics. Visit Homes: Reali’s unique on-demand open house showings allows home buyers to check out any Reali home on their schedule. Keyless entry enables easy access and unique home amenity beacons placed throughout the house inform prospective buyers of distinctive features as they walk around. Contact A Reali Expert: Once they are finished, prospective buyers can tap the “Expert” icon on the app to connect with a live Reali Expert to speak with someone about the properties they are interested in. Make An Offer: Interested buyers then use the app to submit offers and view any competitive offers that may be in play. Cash Back: Upon close of sale, buyers receive a 2.5 percent cash back refund.
Reali charges a flat $2,950 administrative fee. The 2.5 percent of the selling price, the typical agent’s commission, has the flat fee taken out of it and the rest finds its way back to the buyer. While the app offers some amazing benefits for home buyers, it benefits sellers as well with a 4 percent total sales commission. Also, buyers receive free marketing staging services, photography, use of Reali’s beacons and a service warranty.