RealtyPin is an innovative new way of buying and selling property, as registered users are actually paid for their home listing.
Registered sellers are paid for their home listing according to the amount of attention generated, while those looking to buy can browse through dozens of listings online in search of their dream home. This is a very different approach from standard real estate websites, as home sellers get a percentage of the profits generated by the site.
This profit is generated through a combination of revenue from on-site advertising and the number of hits a listing acquires. Although anyone can list their home for free, proactive sellers can choose to pay to have their home in a “Featured” listing, ensuring it will be widely seen and increasing the potential for profit.
James Paffrath Co CEO of RealtyPin says “We’re the only US national real estate search portal that offers revenue sharing with its members. Other sites have huge overheads and expenses. We prefer to keep costs low and give back to our users instead.” He went on to explain that 25% of the sites revenue is re-distributed amongst members, and that as costs are being kept low there is strong potential for growth in the next few years.
In addition, RealtyPin offers users information on home loans, and tips on buying and selling property, as well is the easiest way to improve a home’s value prior to putting it on the market.
The site is still developing new revenue streams, but it’s certainly a new and fresh way of attracting sellers. RealtyPin currently has over 500,000 listings, and is constantly improving the features offered. They intend to have an expanded and improved agent finder which will enable agents to more accurately target buyers and sellers in their area.