Company Extends Industry Partnerships; Achieves First Profitable Month in Company History
VANCOUVER, BC, May 4, 2021 /CNW/ - RESAAS Services Inc. (TSX-V: RSS) (OTCQB: RSASF), ("RESAAS" or the "Company"), a technology platform for the real estate industry, has provided the following corporate update:
Recent Highlights
- Continued operational execution drives first profitable month in company history during the fourth quarter of 2020.
- Appointed real estate industry expert Randall Miles to the Company's Advisory Board.
- Leveraged RESAAS cloud technology to help Real Estate Agents navigate the COVID-19 crisis by facilitating access to government funding and COVID-19 rapid testing.
- Extended relationship with RE/MAX LLC to power its international referral system with over 125,000 agents in more than 110 countries worldwide.
- Selected by AREAA Global, Keller Williams, LGBTQ+ Real Estate Alliance and Luxury Homes to power its referral business.
- Launched a dedicated platform for the global Commercial Real Estate industry.
Corporate Update
"RESAAS's cloud-based platform enables Agents to connect and collaborate. RESAAS's technology became increasingly valuable as the COVID-19 crisis presented the industry with unexpected challenges," said Tom Rossiter, CEO of RESAAS Services Inc. "We are proud to have leveraged our platform to help our members navigate the new landscape by providing Real Estate Agents with online coaching, COVID-19 rapid testing and facilitating access to federal relief funds. In addition to expanding the overall reach of RESAAS's capabilities, these initiatives resulted in the first profitable month in our Company's history in the fourth quarter of 2020.
"The real estate industry is unique, comprising of a social and collaborative professionals that greatly benefit from data transparency. The shelter-in-place restrictions instituted over the last year caused many Agents to adapt and manage their businesses virtually. The RESAAS cloud platform has been instrumental in enabling continuity in their operations by providing insight to non-public real estate information, facilitating lead and referral generation between Agents, allowing them to connect with each other virtually. As face-to-face meetings resume, we expect virtual online behaviour to continue to grow, having become an important aspect of the new real estate environment.
"Our work has garnered attention from the forefront of the industry attracting some talented individuals to join our team, including well-respected industry expert, Randall Miles, Vice Chairman, Board of Directors of eXp World Holdings (NASDAQ: EXPI). Randall will be working closely with the RESAAS management team to provide guidance on our business strategy as we seek to connect all real estate stakeholders globally, while increasing visibility of the RESAAS story with the U.S. investment community.
"As we move through 2021, we are progressing with several important initiatives which will instigate a breakout year for RESAAS. Building on our successes within the residential market, we are dedicating a part of our platform for the $16 Trillion* global commercial real estate vertical. This industry sector has undergone significant change over the last year with many of its constituents needing to revamp their business models. We look forward to expanding our ecosystem by connecting all Real Estate Agents, Brokers and firms, in both the commercial and residential sector globally, providing them with the invaluable and unique data that is exclusive to the RESAAS platform," concluded Rossiter.
About RESAAS Services Inc.
RESAAS is a technology platform that enables real estate brokerages, franchises and associations to bring real-time communication, new business opportunities and unique data to their agents on a global basis. Visit www.resaas.com for more information.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from RESAAS Services Inc.'s expectations and projections.
SOURCE RESAAS SERVICES INC.
Don Mosher, RESAAS Services Inc., +1 (604) 617-5448, [email protected]; Investor Relations, Greg Falesnik or Brooks Hamilton, MZ Group - MZ North America, +1 (949) 546-6326, [email protected]
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