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RESAAS hits 300,000 user mark in short time

RESAAS Services (CSE:RSS) said it has reached an impressive milestone, hitting 300,000 professional real estate users on its specialized social networking platform. 

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RESAAS Services (CSE:RSS) said it has reached an impressive milestone, hitting 300,000 professional real estate users on its specialized social networking platform. 

The rate of growth secures the company as the largest and fastest growing professional real estate network, reaching the 300,000 user mark just 18 months after its commercial launch, RESAAS said.

All of the 300,000 users are verified real estate professionals, meaning they are either a licensed real estate agent, a REALTOR broker owner, or a professional working for a real estate franchise or association.

"In less than two years, we’ve seen a significant number of licensed real estate agents in North America start using RESAAS to take control of their marketing and lead generation, as well as to conduct their referral business," said president Tom Rossiter.

"This milestone shows the appetite for a vertical-specific platform, exclusive to real estate professionals. 

"Agent-to-agent collaboration is long overdue for a digital revolution of the industry, and RESAAS is helping its members take the lead in this transformation."

Indeed, RESAAS provides a social media platform for real estate agents to market their listings, answer questions from potential homebuyers, communicate ideas on their market to followers online, as well as refer and network with each other. It is designed to sync with other social networks such as Facebook (NASDAQ:FB), Twitter (NYSE:TWTR) and LinkedIn (NYSE:LNKD), allowing listings and photos to be shared, and industry news to be posted, all of which helps generate leads for the agent.

The business has gone international quickly, with the company having built its own proprietary translation website in order to allow the platform to reach a truly global audience. The platform is currently offered in 13 languages, with a total of 26 languages targeted for availability in the first quarter of next year. 

RESAAS' international expansion has no doubt been fueled in part by its partnership with some of the largest organizations in the real estate industry, the biggest being RE/MAX with 95,000 agents in over 100 countries, which has accelerated interest from overseas. RE/MAX whitelabeled the RESAAS platform to power its own global referral network.

Since launching a year and a half ago, the platform has been adopted by hundreds of independent brokerages, large multinational franchises, real estate assocations and industry news outlets. Its main goal is to generate more business for real estate agents through its referral network. 

Quick facts: RESAAS Services, Inc.

Price: 0.335 CAD

TSX-V:RSS
Market: TSX-V
Market Cap: $23.06 m
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