Edi Demaj, co-foundes of fiber optic Internet, cable, and phone service provider Rocket Fiber LLC, recently teamed up with his brother Etrit Demaj and partner Justin Tibbled to launch an innovative new real estate buying platform that aims to streamline the entire buying process.
Reozom.com is a startup out of Detroit that makes the process of selling and buying homes much easier for both parties. Instead of being just a simple listings website complete with contact details for selling agents, Reozom can be used to schedule showings, put buyers in contact with sellers, and negotiate price offers. And should two parties actually agree to a deal, they can even sign the purchase agreement directly through the platform.
The Demaj brothers created Reozom after realizing that the real estate industry was lagging behind the times. They came up with the idea that it would be better if the entire process could be centralized to keep things simpler for everyone involved. The brothers understand that Reozom won't appeal to everyone, but for those who appreciate technology (millennials especially) the site is a great option.
Reozom has come such a long way in such a short space of time that the Demaj brothers are now looking to expand the platform beyond just Michigan. Already, more than 250 home sales have been completed directly within the platform, adding up to around $60 million in transactions.
One of the biggest appeals of Reozom is that the platform is a very cost-effective option for sellers. Instead of paying an agent a chunk of the sales price (typically around 6 percent), sellers just pay a one-time fee of $285 to sell their home, which works out significantly cheaper than the agent's fee.
Reozom offers a flat-fee MLS listing service, which gives sellers a chance to compete with agent-listed properties for a fraction of the cost. The platform also facilitates faster sales too, for example by letting buyers and sellers arrange viewings without the help of a real estate agent.