Real estate platform that uses a flat-fee model instead of the traditional real estate transaction fees, Reali has recently announced that it has ended a Series B funding round with $20 million, bring Reali's total funding to $30 million. The round was led by Zeev Ventures with Signia Ventures Partners and more in participation.
Reali was created to replace the current agent-centric commission model with a technology-driven platform and agents that are paid a flat fee per transaction. To optimize this process, Reali is turning its eyes to artificial intelligence and machine learning.
“We are fusing AI with human intelligence and optimized workflows around buyer and seller journeys — all towards a superior customer experience for real estate transactions that also result in significant savings for buyers and sellers,” Reali CEO and founder Amit Haller told me.
The new funding will go towards expanding the company's expertise in this area. Additionally, the service will look into expanding its service from the Bay Area and Sacramento to Southern California.
“We are in the process of recruiting and training a team of Reali Experts and on-the-ground Brand Ambassadors, and we expect to begin servicing buyers and sellers later this summer,” said Haller. “We will be covering all of California this year, followed by out-of-state markets.”
According to Reali, the platform has processed an impressive amount of dollars in homes bought and sold and the company claims its agents are more efficient than other brokers on the basis of transactions and they have a Net Promoter Score of 85.2. Having only been downloaded around 30,000 times since January of last year, the Reali app shows off its prowess with the quality of service in a limited area than the number of downloads it has under its belt.
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