REALT: How it works
We create Airbnb-style marketplace on cryptocurrency and innovative blockchain technologies. We use our 10+ years expertise of supporting and developing Realt.by (a leading real estate national portal), and 10+ years in managing large software development teams (for Morgan Stanley investment bank, BP oil major, and most recently Nordea bank, the largest financial group in Northern Europe). In addition to a traditional well-designed database of property listings, we’ll use RLT token and smart contracts.
Our initial focus is on short-term renting. Many people use Airbnb services, and the common feedback is that commissions and charges are excessive. REALT marketplace will be free from commissions and charges, and people will use RLT token to pay for services. Renting price on REALT marketplace most likely will be lower than on Airbnb or Booking.com because currently hosts are forced to increase the cost of rentals in order to recover their losses (Airbnb charges hosts 3–5%). There will be no charges for guests (Airbnb charges guests 5–15%) and no currency conversion fees (Airbnb charges 3%).
RLT token will allow fees-free REALT marketplace to grow rapidly and to save lots of money for everyone by avoiding unnecessary charges and also by reducing renting price.
The main value of RLT tokens is in its functions. By using RLT token, people can pay for services, starting from renting rooms and apartments. In the long run, with the growth of the marketplace, this will provide people with an opportunity to rent anywhere on the planet with minimal costs and bureaucracy involved.
Since the REALT platform won’t charge any fees & commissions, we expect renting price to be lower than on Airbnb or Booking.com because hosts won’t need to include fee & commissions in the price in order to recover their losses. This will make the platform more attractive to guests, and the growth wheel will spin faster, making the marketplace even more attractive.
One side-effect of direct payments in RLT token is a better long-term retainment of guests and hosts. Since there will be no need to bypass the platform (because all payments are direct anyway and without commissions), REALT marketplace will be attractive for users even after the introduction from the first transaction. People will be interested to keep using the platform for future transactions due to its services and benefits of convenience.
Main services that will add value to users of REALT marketplace are property discovery, scheduling and booking, messaging, escrow (via smart contracts), and trust management (with the help of reviews and ratings).
We have a proven track record of tech management and deep expertise in bootstrapping development centers, and 10+ years of experience in supporting and developing Realt.by. Now we want to scale our operations and to migrate to the cryptocurrency ecosystem.
Our focus is clear. We build Airbnb-style marketplace on cryptocurrency. We have a proven track record in delivery (see LinkedIn). We are transparent about our company values (direct payments, market freedoms, and global community). We are committed to Realt Ltd for 4 years already, and registered REALT trademark in the United Kingdom and European Union in order to protect long-term interests of the platform.
We’re building a fundamental service for a new economy and want to use REALT platform ourselves. We believe that by using cryptocurrency and direct payments, we will allow anyone to enjoy market freedoms and receive value from exchange of RLT tokens to a service of renting a room or an apartment anywhere globally.
Our main interest is in using such platform ourselves and in supporting new global economy and market freedoms. We are looking for supporters who believe in RLT token and its value through services it will provide. We also reserved 8% of token supply for the Realt team, so we are very motivated to make the project a success.
Of course, REALT marketplace will offer premium services to professionals, and RLT token will be used to pay for marketing, promotion, advertising, analytics, and various supplementary products and services. The list will expand as the marketplace grows.