RESAAS Services

A Unique Technology Platform for the Real Estate Industry

This profile is part of a paid investor education campaign.*

Overview

RESAAS Services Inc. (TSXV:RSS) is a software as a service (SaaS) company that has deployed its namesake cloud-based communication platform focused on uniting the real estate industry. Currently a resource for over 433,000 agents, the RESAAS platform is a digital online destination in which real estate professionals can interact, contribute and conduct transactions.

Having addressed a specific gap within an industry typically focused on enhancing consumer experience, RESAAS has developed a unique B2B solution for the industry that has no notable competitor in the market. In developing its API-rich platform and reaching its users, the company has partnered with numerous brands and organizations eager to make a positive impact in the industry. Organizations that have engaged RESAAS as a service provider include several municipal and state realtor associations in major cities across the USA, as well as industry-leading brands Keller Williams Realty and RE/MAX LLC.

Focused on what is best for real estate agents, RESAAS is led by a management team that has expertise in both the real estate and technology industries. Management is also supported by a newly appointed board of directors with specialists in financial discipline, corporate governance, enterprise sales and investor relations. Management and insiders are significantly invested in the company, holding approximately 25 percent of shares.

Company Highlights

  • Real estate cloud-based, API-rich communication platform currently used by 433,000 real estate professionals globally
  • Addressing pressing gap in the industry for digital resource for real estate agents and organizations
  • Two additional revenue-generating services launched in 2017 – RealTimeMLS™ and BrokerOS – that address issues for separate industry segments
  • Layering of additional modern technologies to the platform underway
  • Saw consistent month-over-month growth over 2017, the company’s first focused year of revenue generation, with almost half a million dollars made in recurring revenue
  • $2 million of financing raised in private placement in January 2018, totalling over $30 million in capital raised to date
  • Award-winning global technology platform delivered in 22 languages worldwide

RESAAS Platform

The RESAAS platform was developed as an environment in which real estate professionals can communicate with each other, a concept lacking within the industry. Much like Bloomberg did for the finance space, RESAAS acts as a digital hub for real estate agents looking to connect with industry peers, enhance their knowledge and develop themselves professionally.

With 433,000 agents signed up on the communication platform—90 percent of which are based in North America—RESAAS addresses the needs of various segments within the real estate industry. For agents the platform acts as a way to share best practices, resources and ‘tricks of the trade’ within a communal and secure space, uniting agents across countries, continents and globally.

Real estate brokers, meanwhile, can use the tool to communicate more effectively internally and thus work more effectively as a team, increasing the top line of their businesses. Similarly, large real estate franchises can enhance the value of their extensive footprint by having a centralized location in which to disseminate information.

On the receiving end of the available data on the platform, real estate boards are then able to use the platform to gather insight into what happens in the market in terms of transactions and associated information. For this particular feature, RESAAS has been granted multiple awards within the tech and real estate industries.

Playing its original role as a technology research and development company, RESAAS grew its platform organically and—having attained critical mass—used it to collect and analyze data associated with the industry, determining the potential services to offer clients. Since then, the company has refocused and transitioned to a SaaS model, delivering solutions to agents, brokerages, real estate franchises and real estate boards.

Moving forward, RESAAS will continue to layer more modern technology elements to its existing solutions, such as agent-to-agent payments, and an enhanced lead generation system using blockchain technology.

Revenue Streams

After three years of offering access to RESAAS for free in order to gather significant data, 2017 marked the initiation of revenue generation following the launch of its two technology services designed for the real estate industry. The company saw notable success in its first year, with half a million dollars in revenue generated. In this time, month-over-month and quarter-over-quarter results rose steadily and are expected to continue on this trend.

RealTimeMLS™

The RealTimeMLS™ solution is a real-time communication platform that helps real estate boards and associations actively monitor real estate transactions that take place before the property is even listed on the Multiple Listings Service (MLS). A common trend, these transactions are usually conducted informally between agents and thus cannot be tracked by real estate boards—whose role it is to report on industry trends.

RealTimeMLS™ provides a central location in which all member REALTORS® can communicate about pre-market listings, allowing real estate boards and associations to effectively and comprehensively track market data like never before.

BrokerOS

Focused on the needs of the real estate brokerages where RESAAS already has a presence, the new BrokerOS solution is an innovative service that supports brokerage teams and enables them to be more effective. Taking the form of a cloud-based, real-time communication hub, the platform acts as a communication channel for member agents of the same brokerage. Within this space, member agents are able to share leads and upcoming listings, communicate as a team and bring about additional deals.

Management

Tom Rossiter—President & CEO

Prior to joining RESAAS, Tom Rossiter was Managing Director of Lightmaker, a global award-winning digital agency, where he ran the Vancouver office following four years at their UK headquarters. During that time Tom became known for taking mobile solutions to mass-markets for the likes of Adobe, Nokia and Samsung, where he worked onsite across Europe and Asia. He was also recognized as a Subject Matter Expert in accessible design for digital solutions.

He holds a Board position with the Asian Real Estate Association of America (AREAA) based in Vancouver, is an International REALTOR® member of the National Association of REALTORS® (NAR), the trade association representing the real estate industry in the United States, and served as a mentor at Second Century Ventures, the strategic investment arm of NAR.

Annie Chan—CFO

Annie Chan is a Chartered Professional Accountant (CPA) and Chartered Accountant (CA) with 12 years of experience working for publicly listed and private companies in technology, telecommunications, banking and mining. Most recently, Ms. Chan was the Chief Financial Officer at Urban Communications Inc. (“Urban”), a telecommunications company providing gigabit internet services in Metro Vancouver, where she oversaw the mergers & acquisition process that led to its acquisition in 2017. Previous to Urban, Ms. Chan was the Chief Financial Officer for two TSX-traded mining companies, which were ultimately acquired. Ms. Chan also held senior finance positions with an international financial institution.

Marwan Haddad—CTO & VP Engineering

Prior to joining RESAAS, Marwan Haddad worked as a software consultant and solution provider with several multinational companies. He has experience setting up teams to build applications and platforms on time and on budget. He successfully led development teams and launched several platforms for Fortune 500 Companies including Microsoft and Starbucks.

He holds a BSc in Electrical Engineering, has completed several advanced MIS courses, and is actively involved with the University of British Columbia (UBC) with their Computer Science and Engineering mentorship programs.

Danielle Sissons—VP Operations

Prior to this role, Danielle Sissons held previous positions as Vice President of Communications, and Director of Corporate Communications, where she created the company’s marketing and communication strategy, investor relations operation, and built a team of marketers to fuel member growth and user adoption during the company’s go-to-market phase.

She graduated from the British Columbia Institute of Technology (BCIT) having a diploma of Marketing Management with a focus on sales.

Christopher Wong, CPA, CMA—Director of Finance

Prior to joining RESAAS, Christopher Wong was Vice President of Finance at Go2mobi, a global digital advertising agency, where he led restructuring after private equity investment to double revenue year-over-year whilst reducing operating costs by over 10 percent. Previous to Go2mobi, he was Chief Financial Officer for a successful e-commerce company; Vice President of Finance at a publicly traded mining company; and Director of Finance at VisionDirect.com, where he constructed a team that supported revenue growth of 10 times over a 3-year period, ultimately leading to its acquisition by NASDAQ-listed Drugstore.com. Throughout his 20-year career in accounting, auditing and financial planning, he has established a reputation for building high-performance teams and for aligning financial and business metrics to support business strategy and high-growth. He holds an MBA from Queen’s University.

Pierre Chadi—Chairman of the Board

Pierre Chadi spent 19 years with Microsoft Canada in different leadership roles in Montreal, Toronto and Ottawa. In his position of Eastern Region director, he was responsible for enterprise software sales in Eastern Canada.

He is an accomplished bilingual senior executive with over 30 years of leadership experience in IT enterprise sales and marketing covering hardware, software, business solutions, and SAAS cloud offerings, and over 20 years of active angel investor experience. He is the former VP of Investments of Anges Québec Capital, where he oversaw an $85M fund and put in place a team of investment professionals to manage a portfolio of 30 early stage investments.

An electrical engineer with a degree from McGill University and an MBA from the University of Ottawa, he is active in his community and serves as treasurer for Cybercap, a non-profit organization focused on helping young adults reintegrate into the labor market through innovative multimedia programs that enhances their multimedia and IT skills.

Cory Brandolini—Director

Cory Brandolini spent over 20 years in the capital markets, before cofounding Teleo, a VoIP company acquired by Microsoft in 2005. Prior to this, Cory was a Partner at Octagon Capital Securities, and previously Golden Capital Securities and Wolverton Securities.

Simon Bodymore—Director

Simon Bodymore is the Chief Financial Officer of Tasktop Technologies Incorporated, a Vancouver based leading global supplier of integration software for developer tools. Prior to this he was CFO of Wurldtech Security Technology (acquired by GE) as well as CFO of PNI Digital Media. His professional career also included being a senior manager with PricewaterhouseCoopers in Vancouver and Dublin, Ireland.

Adrian Barrett—Director

Adrian Barrett is the Chairman of Lightmaker Group, an award-winning global digital agency that he started in 1997. During the last 20 years, the company opened offices in locations across the world in the USA, Canada, Australia, Netherlands, and its global headquarters in the UK. It became known for consistent award-winning interactive campaign work for major brands including Adobe, EA Games, Lexus, Nike, Nintendo, RBS, Sonos and Sony. Adrian holds a Bachelors degree in Economics & Business from the University of Wales.


 

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