reAlpha Tech Corp. (“reAlpha” or the “Company”) (Nasdaq: AIRE), a
real estate technology company developing and commercializing
artificial intelligence (“AI”) technologies, today launched the
enterprise version of its commission-free AI homebuying platform.
reAlpha Enterprise will specifically cater to corporate relocation
programs. This strategic initiative targets the $25 billion
employee relocation market by offering cost savings for both
employers and employees.1
“reAlpha Enterprise addresses a critical market
need by eliminating buy-side real estate commission expenses and
bringing the entire process into one place,” said Giri Devanur, CEO
of reAlpha. “By leveraging our commission-free real estate
platform, we aim to provide partnered companies and their employees
with a seamless solution to homebuying, which many Americans
identify as the most stressful life event.”2
Through the elimination of traditional buy-side
real estate commissions, employees can save up to 3% of the
purchase price on their home. If the seller of the home has already
agreed to pay the buy-side agent commission, reAlpha will refund it
to the buyer in the form of a closing cost credit, which they can
use to increase their purchasing power.
Mr. Devanur continued, “reAlpha Enterprise goes
beyond just savings by offering a complete relocation ecosystem.
Our platform integrates essential services including title,
mortgage, and closing support, while our in-house licensed agents
provide no-obligation assistance throughout the process.
Companies can deploy reAlpha Enterprise without
implementation fees or complex HR integration. The platform
provides employers with management dashboards and custom landing
pages, while offering employees AI-powered school and moving
recommendations.
About reAlpha Tech Corp.
reAlpha Tech Corp. (Nasdaq: AIRE) is a real
estate technology company developing an end-to-end commission-free
homebuying platform. Utilizing the power of AI and an
acquisition-led growth strategy, reAlpha’s goal is to offer a more
affordable, streamlined experience for those on the journey to
homeownership. For more information, visit www.reAlpha.com.
About the reAlpha Platform
reAlpha (previously called “Claire”), announced
on April 24, 2024, is reAlpha’s generative AI-powered,
commission-free, homebuying platform. The tagline: No fees. Just
keys.™ – reflects reAlpha’s dedication to eliminating traditional
barriers and making homebuying more accessible and transparent.
reAlpha’s introduction aligns with major shifts
in the real estate sector after the National Association of
Realtors agreed to settle certain lawsuits upon being found to have
violated antitrust laws, resulting in inflated fees paid to
buy-side agents. This development is expected to result in the end
of the standard six percent sales commission, which equates to
approximately $100 billion in realtor fees paid annually. The
reAlpha platform offers a cost-free alternative for homebuyers by
utilizing an AI-driven workflow that assists them through the
homebuying process.
Homebuyers using the reAlpha platform’s
conversational interface will be able to interact with Claire,
reAlpha’s AI buyer’s agent, to guide them through every step of
their homebuying journey, from property search to closing the deal.
By offering support 24/7, Claire is poised to make the homebuying
process more efficient, enjoyable, and cost-efficient. Claire
matches buyers with their dream homes using over 400 data
attributes and provides insights into market trends and property
values. Additionally, Claire can assist with questions, booking
property tours, submitting offers, and negotiations.
Currently, the reAlpha platform is under limited
availability for homebuyers located in 20 counties in Florida, but
reAlpha is actively seeking new MLS and brokerage licenses that
will enable expansion into more U.S. states.
For more information, please visit
www.reAlpha.com.
Footnotes
1. Source: ARC Relocation. (n.d.). Employee
Relocation. ARC Relocation. Retrieved December 3, 2024,
from https://arcrelocation.com/employee-relocation/
2. Source: HousingWire. (2019, May 29).
Americans say buying a home is most stressful event in modern life.
HousingWire. Retrieved December 19, 2024,
from https://www.housingwire.com/articles/46384-americans-say-buying-a-home-is-most-stressful-event-in-modern-life/
Forward-Looking Statements
The information in this press release includes
“forward-looking statements”. Forward-looking statements include,
among other things, statements about reAlpha Enterprise and the
corporate relocation market; the anticipated benefits of reAlpha
Enterprise; reAlpha’s ability to anticipate the future needs of the
market for corporate relocations; future trends in the real estate,
technology and artificial intelligence industries, generally; and
reAlpha’s future growth strategy and growth rate. In some cases,
you can identify forward-looking statements by terminology such as
“may”, “should”, “could”, “might”, “plan”, “possible”, “project”,
“strive”, “budget”, “forecast”, “expect”, “intend”, “will”,
“estimate”, “anticipate”, “believe”, “predict”, “potential” or
“continue”, or the negatives of these terms or variations of them
or similar terminology. Factors that may cause actual results to
differ materially from current expectations include, but are not
limited to: reAlpha’s limited operating history and that reAlpha
has not yet fully developed its AI-based technologies; reAlpha’s
ability to commercialize its developing AI-based technologies;
whether reAlpha’s technology and products will be accepted and
adopted by its customers and intended users; reAlpha’s ability to
integrate the business of its acquired companies into its existing
business and the anticipated demand for such acquired companies’
services; reAlpha’s ability to successfully enter new geographic
markets; reAlpha’s ability to obtain the necessary regulatory and
legal approvals to expand into additional U.S. states and maintain,
or obtain, brokerage licenses in such states; reAlpha’s ability to
generate additional sales or revenue from having access to, or
obtaining, additional U.S. states brokerage licenses; the inability
to maintain and strengthen reAlpha’s brand and reputation;
reAlpha’s ability to scale its operational capabilities to expand
into additional geographic markets; the potential loss of key
employees of its acquired companies, including, but not limited to,
the broker providing services on behalf of US Realty, one of
reAlpha’s subsidiaries; reAlpha’s inability to accurately forecast
demand for short-term rentals, corporate relocation programs and
AI-based real estate focused products; reAlpha’s ability to
successfully compete in the corporate relocation market; the
inability to execute business objectives and growth strategies
successfully or sustain reAlpha’s growth; the inability of
reAlpha’s customers to pay for reAlpha’s services; changes in
applicable laws or regulations, and the impact of the regulatory
environment and complexities with compliance related to such
environment; and other risks and uncertainties indicated in
reAlpha’s U.S. Securities and Exchange Commission (“SEC”) filings.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those anticipated in the forward-looking statements. Although
reAlpha believes that the expectations reflected in the
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct.
reAlpha’s future results, level of activity, performance or
achievements may differ materially from those contemplated,
expressed or implied by the forward-looking statements, and there
is no representation that the actual results achieved will be the
same, in whole or in part, as those set out in the forward-looking
statements. For more information about the factors that could cause
such differences, please refer to reAlpha’s filings with the SEC.
Readers are cautioned not to put undue reliance on forward-looking
statements, and reAlpha does not undertake any obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by
law.
Company Contact
Investor Relations
investorrelations@realpha.com
Media Contact
Alliance Advisors IR on behalf of reAlpha
Fatema Bhabrawala
fbhabrawala@allianceadvisors.com
reAlpha Tech (NASDAQ:AIRE)
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