Product Overview of Reali
Reali is an innovative trade-up brokerage that simplifies the process of buying and selling homes, particularly for those who need to sell their current home while purchasing a new one.
Key Functionality
- Trade-Up Solution: Reali’s primary service allows buyers to make all-cash offers on new homes before selling their existing homes. Here’s how it works: Reali buys the new home, enabling the buyer to move in immediately. Once the buyer’s existing home is sold, the buyer purchases the new home back from Reali.
- Standard Brokerage Services: In addition to the trade-up solution, Reali offers standard buy and sell brokerage services. Buyers and sellers can work with Reali independently to facilitate their real estate transactions, with the support of a dedicated agent team throughout the entire process.
Key Features
- Commission Structure: Reali charges a 5.0% commission for both buyer and seller transactions. However, buyers can receive a rebate of up to 1% when working with Reali. For sellers, Reali offers varying commission rates (1-2.5%) depending on the level of service chosen, which can include cash offers, home prep services, or basic listing services.
- Employment Model: Unlike traditional brokerages, Reali employs its agents as full-time employees rather than independent contractors. This model ensures agents are paid a salary along with smaller sales commissions, providing a more stable income structure.
- Integrated Services: Reali has expanded its offerings by acquiring Lenda, an online mortgage lender, in April 2019. This integration allows Reali to provide comprehensive mortgage services to its clients, enhancing the overall home buying and selling experience.
- Revenue Model: Reali generates revenue primarily through real estate commissions from successful home purchases and sales. Additional revenue streams come from ancillary services such as mortgage and title insurance.
Benefits
- Simplified Home Transition: Reali’s trade-up solution eliminates the need for temporary housing or bridge loans, making the transition between homes smoother and less stressful.
- Competitive Commission Rates: The flexible commission structure and potential rebates make Reali an attractive option for both buyers and sellers.
- Comprehensive Support: With a team of full-time agents and integrated mortgage services, Reali provides a holistic approach to real estate transactions.
Overall, Reali offers a unique and streamlined approach to buying and selling homes, making it an appealing choice for those navigating the complexities of real estate transactions.