Yawn… another disrupter? This advertorial writer’s company isn’t offering anything new to the crowded marketplace of discounters and low-service to poor service models. It might even be the worst we’ve seen.
Selling real estate through an app? No way would I put my sellers in the position to have buyers let themselves into their home (using the app!) without a licensed vetted agent present. “A person is standing by to answer questions about the home.” What person? The owner? The listing agent? Or is it some office jockey in Foster City, 300 miles from the property who is scrambling to log in to the local MLS to “answer questions?
Then the entire process of inspections and appraisal is done obviously by the buyer with no assistance from Reali. Inspection by app? Cracked slab by app? Apparently millenials need to increase their service expectations because this opens buyers up to heavy duty remorse not having a professional at their side. A professional who might say to a buyer “this looks like a lot of work. Maybe you should consider buying a different property.”
Back to the process: The buyer gets their loan (via app) and then is “rebated” back 2.5 to 3% of the AMOUNT THEY JUST FINANCED to get the home. REALLY?
Reali charges 4% to list a home, which is 1.5% over the California average. Obviously sellers get nothing in return for that bloated commission. Just access to an app. Buyers finance their own “rebate” so the listing commission is where the founding brokers make their millions (maybe thousands if this model fizzles, as it should).
Run from Reali. Really.
