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Resaas Services says new licensing deal with REIN will present new growth opportunities

The company has struck a memorandum of understanding (MoU) with Toronto-based REIN Group of Companies Inc
Resaas Services says new licensing deal with REIN will present new growth opportunities
Resaas said it was planned to launch the initiative in Canada in late 2018

Resaas Services Inc (CVE:RSS) has struck its first fully white-labelled, licensed relationship with the largest and longest running real estate investment education and advisory firm in Canada.

The company has struck a memorandum of understanding (MoU) with Toronto-based REIN Group of Companies Inc (REIN).

The move will allow REIN to license existing RESAAS technology to create a separate, private platform for real estate investors to share investment properties within the REIN network, it said.

The MoU specifies fees involved, both for custom development and ongoing license fee tiers.

With over 155,000 registered avid-investors, 36,500 students and thousands of active investor members, REIN has been behind 39,000 transactions so far, valued at more than C$5.08bn within their membership.

"We are excited to commence working with REIN and enabling their impressive organization to realize their long-time vision,” said RESAAS chief executive Tom Rossiter.

"Our award-winning technology platform was built with all corners of the real estate industry in mind.

"Entering into our first fully white-labeled, licensed relationship to provide innovation in the real estate investor space presents numerous new growth opportunities for both RESAAS and REIN."

It is planned to launch the initiative in Canada in late 2018 under a new brand, with plans to ready the platform for use in other major real estate markets worldwide early in 2019.

"The futurization of the real estate investment industry is here,” said Richard Dolan, president of REIN.

"According to Google Canada, there are over 1.6bn searches online per annum on all things real estate.

"This suggests an undeniable, unquenchable digital thirst for not just real estate information, rather real estate intelligence. 

"As such, the old means and methods to search, find and secure great opportunities are highly commoditized, dated and unreliable."

Dolan added that in the digital age, investors that seek "powerful performance within their portfolio will lean into and depend heavily upon the newly forming landscape of mobile technology, big data, blockchain technology and artificial intelligence."

He added: "And with RESAAS, we will be at the bleeding edge of this imminent future of real estate investing."

Shares in Resaas were unchanged at C$0.45.

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