Real trade aims to empower real estate agents to grow their online presence, thereby creating potential cost savings for buyers and sellers.
If you’ve ever gone out to buy or sell a home, you may have noticed that the industry is lagging behind from a technical standpoint. MLS listings, the raw material that lies at the center of the real estate data ecosystem, create reports that appear to date back to the previous century. And solutions that already exist tend to be more focused on making the business profitable rather than connecting buyers, sellers and agents.
As the founder and CEO of West Palm Beach-based RealTrade, Ryan Poole knows these issues firsthand, having worked in real estate for more than two decades. Two years ago, he decided to tackle this problem head-on by developing his own solution.
Major platforms like Zillow and Trulia create a competitive landscape that ultimately hurts everyone involved. âWe’re cutting out the middleman by allowing buyers and sellers to go directly to listing agents,â says Poole. âIt gives buyers and sellers better information and helps agents build the local online business they’ve always dreamed of. “
With the old platforms, the contact details of agents do not appear on the lists. Instead, these websites pit agents against each other to bid on the ads. In Poole’s experience, this can be confusing for buyers: âWhen users call the agent listed on Zillow, they think they are calling the listing agent, but it’s usually not the case. It can take 10 to 15 minutes to match with an agent, and the buyer often knows more information because they are looking directly at the ad, while the agent is not.
RealTrade flips the script by allowing agents to create their own social media-like profiles for their ads. Agents can easily share lists and cross-promote on social media platforms. Buyers and sellers can also create accounts to track listings and agents, and choose to be contacted about properties they like.
Community is a priority for Poole. RealTrade is based at the West Palm Beach-based Innovation Center 1909, and Poole participated in their acceleration program. âRealTrade wouldn’t exist without 1909, the entrepreneurs who work here and the Accelerate Program,â said Poole. Refresh Miami.
Poole pledged 1% stake in RealTrade until 1909 in an attempt to help them “do whatever they need to do to help build the community and support the entrepreneurs here”. Real estate professionals also have the opportunity to earn points by referring other agents to the platform, which Poole says they can then convert and invest in RealTrade.
The platform currently has over 100 agents in South Florida representing 30 different brokerage houses, as well as 500 buyers and sellers. Poole is targeting 1,000 agents. Once RealTrade hits this threshold, Poole plans to begin offering membership opportunities to securities firms, mortgage brokers and appraisers. Unlike agents, buyers and sellers, these ancillary stakeholders will have to pay to use the platform. But Poole expressed confidence that they will see RealTrade’s value as a sales funnel for their businesses.
Over the next three months, Poole plans to launch a crowdfunding campaign. This fits in with Poole’s larger mission to democratize business or tackle the stingy accumulation of assets through community ownership. âWhat really motivates and excites me about RealTrade is the community owned and organized aspect,â Poole explained. âWhen you allow people who add value to platforms to own those platforms. This is the future, and I would love nothing more for RealTrade to be a leader in this new model.
Visit the RealTrade website to learn more and sign up for free.
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