close
close

Newcomer to the residential marketplace Realoq expands to 3 new states: Inman

Bee Inman Connect Las Vegas, July 30-Aug. On January 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

According to an announcement earlier this week, residential marketplace Realoq has expanded to Florida, Georgia and North Carolina.

Anvesh Chakravartula | Credit: LinkedIn

“Unlike industry stalwarts, Realoq’s free-to-use service offers a hand-picked and custom-vetted pool of local agents to provide home buyers and sellers with peace of mind, full transparency and top quality,” said Realoq Founder and CEO Anvesh Chakravartula. in a prepared statement.


Available in California, Georgia, Florida, Idaho, Texas, North Carolina, Oregon and Washington, Realoq’s marketplace includes home search, agent-consumer matching, and transaction and customer relationship management technology for its agents and broker partners.

On each listing page, homebuyers can view basic information, as well as key monthly, quarterly and annual market trends that span several years. The listing pages also include mortgage interest rates, a mortgage calculator and the opportunity to get pre-qualified by one of the participating Mortgage Research Center members. If available, buyers can also request a consultation with a qualified Realoq partner agent to discuss home purchasing options.

Meanwhile, home sellers’ Realoq journey begins with them providing their home address, which gives them a list of Realoq partner agents who can list their homes. Realoq provides sellers with market insights and personalized support throughout the transaction process, powered by its CRM (Customer Relationship Management) platform.

“Buyers can choose an agent that suits them best,” Chakravartula told Inman. “This means that buyers consciously work with agents, which makes the entire process more efficient.”

Realoq charges partner agents and brokers no upfront, setup or monthly subscription fees, and offers free access to lead and customer relationship management tools through the Realoq Connect portal. Partner agents pay a flat fee when they close a referral-based transaction, which is 25 percent of their commission.

“The platform is attractive because it generates free leads to agents who have already been verified through the Realoq system,” Chakravartula said. “This means agents have a clear idea of ​​what these buyers are looking for, while ensuring they have the qualifications to meet (their needs).”


Chakravartula said Realoq will improve its platform and market coverage this year as it aims to compete with portal giants Zillow, Redfin and Realtor.com, and technology brokers such as Compass. Realoq has its broker license in California, Georgia, Florida, Idaho, Texas, North Carolina, Oregon and Washington, but has yet to offer brokerage services.

“Realoq’s platform addresses several long-standing challenges in the real estate industry, including the inefficiency and complexity of traditional transactions, which often involve excessive paperwork, lack of transparency and opaque procedures,” he said. “By automating and digitizing these processes, Realoq significantly reduces the time and effort required for transactions.”

The 18-month-old company secured $3 million in seed funding in December, with Britain’s TRK Ventures Fund as the sole investor.

Email Marian McPherson

Back To Top