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Reelly

UAE
Market: Real estate
Stage of the project: Prototype or product is ready

Date of last change: 31.08.2022
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Idea

Reelly is a B2B2C platform in the real estate sphere.
For a developer, we are an international online distributor of real estate sales.

Current Status

In 2021, we launched the product in Odessa. Within 4 months after connecting the developer, which occupies 2.5% of the real estate market, 1,160 realtors started using our solution, which is almost 30% of the realtor market. During the specified period, they made 90 bookings that turned into successful deals in a cycle of 7-21 days. The developer paid us 0.5% of each reservation.

Problem or Opportunity

Dubai developers sell 95% of their sales through real estate agents. Meanwhile, the main communication tool is WhatsApp or Google Drive. There are 20,000 realtors on the Dubai market. Within 2021, according to official data, almost 1 billion dollars were paid out in favor of real estate agents.
Therefore, the main problem is the loss of money, time and level of service in communication of developers with such "outsourced sellers" as realtors. Due to the availability of specialized tools, developers are forced to use messengers and Google Drive.

Solution (product or service)

On our platform, the developer uploads all the necessary information about the object (and a database of apartments, their prices and statuses) and after moderation he gets access to thousands of real estate agents who can quickly find the necessary information through the mobile application and, without odd questions or clarifications, "book" the client. By doing this, the developer gets a commission management tool, a high level of data security and a tool for quickly connecting new agents in the market.

Business model

The developer pays us 0.5% of the value of the real estate object that was reserved and, eventually, realized through our platform by an agent. Bookings are controlled according to the "booking" principle, when our system tracks the entry of the application and its status to the moment of refusal or confirmation of a successful deal.

Realtors pay us for lead generation. 200% ROI
What is more, within the platform, each of the parties can expand its functionality to PRO, thus we monetize according to the SAAS model.

Incubation/Acceleration programs accomplishment

EO Business Incubator
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