Detroit Real Estate Technology Startup Launches Digital Platform
A Detroit-based real estate technology company has launched an online platform, REOZOM.com, which provides homebuyers and sellers with an easier and more affordable way to list and buy their home. REOZOM started last year as a flat fee MLS Listing Service.
The company evolved when real estate entrepreneur Justin Tibble partnered with two tech entrepreneurs and brothers, Etrit and Edi Demaj. Together, the trio created REOZOM to provide more speed, flexibility, and efficiency to the traditional residential real estate industry.
"Bringing simplicity to residential real estate through technology is our goal. The current way of buying and selling a home requires calls, emails, meetings and a lot of time; REOZOM makes it possible to do it all from the luxury of your home or office," says Tibble, CEO of REOZOM. The company has eight employees comprised of real estate professionals, technologists, and designers.
REOZOM offers sellers a way to have their homes listed on multiple websites including MLS, Realtor, Trulia, and Zillow for a one-time fee of $285. Sellers listing a home through REOZOM could potentially save thousands of dollars that would otherwise be spent on agent commission fees.
Sellers can list their home on the MLS and other popular platforms in less than 30 minutes. The paperless service also handles legal documents and disclosures, and a property can stay on the MLS until it sells or there’s a money back guarantee if the property ends up selling with a traditional broker. Users can also make unlimited changes and updates to their listing at no additional cost.
"A real estate transaction is one of the biggest investments an individual or family will make in their lives, and our mission is to provide an experience that's as effortless and stress-free as possible," says Etrit Demaj, managing partner of REOZOM. "Imagine the process of listing your home being as easy and intuitive as using Facebook."
In August, the digital platform will add numerous features including a direct messaging system for buyers to contact sellers as well as schedule showings.
"We have tested the concept in Michigan and have received a great deal of positive feedback, which shows through the number of listings we have processed in the last few months," says Edi Demaj, chairman of REOZOM. He adds the company is working with broker partners to expand the service nationally.