Real estate start-up RuListing posts record growth, looks to investment round
Nov 05, 2018, 12:00 ET
TORONTO, Nov. 5, 2018 /CNW/ - Real estate disruptor, RuListing.com soared across the U.S., Australia and Canada, as Founder Susan Joynt switches gears to investment, heading into Property Portal Watch's November Conference in Madrid
RuListing.com brings innovation to traditional real estate business models. October usage surged to 12,000 subscribers and 30,000 monthly site visitors with buyers and renters actively posting where they're looking for a home, and sellers are privately messaging them. With a LinkedIn-like concept for real estate, homeowners can connect with buyers and renters privately, ahead of advertising their house on the market.
RuListing is the next wave of disruptors to hit the real estate industry and is now seeking strategic investors to leverage assets and drive continued in-market success. RuListing challenges second generation disruptors whose core revenue is derived from agent advertising and memberships. Topping $1B in 2017 revenue, 70% from Premier Agents, Zillow depends on 1.3M agents spending $9B U.S. on advertising annually.
Gary Keller Chairman Keller Williams and Brad Inman Chairman Inman News, had a lively discussion on whether third generation tech enables agents, or disrupts second generation classifieds. Brad Inman reported, The lion roared: my talk with Gary Keller, since this round of real estate disruption remains hotly debated.
Yet, transacting privately has held steady in the U.S. at 10-13% despite sell-side innovation. Joynt believes real estate is such a personal, high risk investment that "connecting buyers and sellers together privately is only the first step. People will continue to hire agents to facilitate the primary transaction." However, without the advertising expense, agents have more flexibility on fees.
Mitula Group Chairman and industry visionary Simon Baker, insightfully encourages the real estate industry to explore beyond the primary transaction, shifting to secondary transactions and alternative monetization models. Mitula's 'getting closer to the transaction' strategy is on track for record Q3 2018 results.
Service providers shifting toward secondary transactions, including lucrative financial and insurance services, now have RuListing's buy-sided database to geo-target ads and build a digital footprint. Joynt promotes acquiring both sides of a marketplace with this industry shift to position for the emergence of AI, blockchain and revolutionary new models of homeownership.
As disruption unfolds, industry investment continues strong with Softbank's recent $400 million investment in OpenDoor led by Justin Wilson. Canada heats up with Purplebricks acquiring Comfree, Zillow in Canada and powerhouse Realtor.ca's, listedbyseller.ca.
SOURCE RuListing
For further information: Susan Joynt, [email protected]