Fundamental Research Analyst Siddarth Rajeev has issued a research report on RESAAS Services Inc. (TSXV:RSS). Siddarth claims the company is creating the “Bloomberg Terminal” of Real Estate Brokerage
As quoted in the report, FRC’s highlights for RESAAS Services include:
- RESAAS Services Inc. (“RESAAS”, “company”) is a Software as a Service (“SAAS”) company that has developed a Business to Business (“B2B”) referral platform focused on real estate brokerage.
- The U.S Real estate brokerage industry is approximately $73.55 billion per year.
- The real estate brokerage market is fragmented, with over a million real estate agents in the U.S. alone.
- Pre-market (non-public) real-estate listings, especially in active real-estate markets, typically lead to pricing inefficiency.
- To solve these issues, RESAAS has introduced their BrokerOS and RealTimeMLS platforms. BrokerOS is designed to help brokerages optimize internal deal flow, and RealTimeMLS helps facilitate referrals whilst feeding data through to MLS channels.
- The company has also acquired a company with a real estate focused blockchain technology, potentially allowing the company to generate transaction fees from processing “smart contracts”.
- RESAAS Services Inc. are initiating coverage with a BUY rating and a fair value estimate of $1.05 per share.