Bravo’s Josh Altman Launches Home-Selling Marketplace Redy in Dallas, 4 Other Cities

Reality TV star Josh Altman of Bravo's "Million Dollar Listing" is leveraging his pop culture fame to further disrupt an already disrupted home real estate sector. By using Redy, he says, "For the first time, sellers get paid cash to pick an agent; as a result, agents are directly invested in the sale."

Dallas is among five markets announced for the launch of Redy, which says it’s the only marketplace that rewards home sellers for selecting an agent who best aligns with their sale goals. The other cities are Atlanta, Orlando, Phoenix, and San Diego.

“For the first time, sellers get paid cash to pick an agent; as a result, agents are directly invested in the sale,.” Josh Altman, a co-founder of Redy, real estate agent, and cast member on Bravo’s “Million Dollar Listing,” said in a statement.

“All agents have the opportunity to own local seller listings,” he added, “which will in return help them own the local market they operate in and level the playing field for listings. When you own local seller listings, you own your local market.” 

Redy’s two-sided platform offers benefits for both parties, the company said. While agents can compete and offer the best terms for desired properties, sellers can determine from a pool of agents who they trust to get them closest to their ideal sale agreement.

In short, sellers get control over the whole process, and agents control which listings they put their energy and money into, shifting how both parties find success, Redy said.

Aiming to revolutionize the home selling market

Altman’s startup says that home sellers and agents are already seeing how Redy has revolutionized the market. The company reports that home sellers using Redy “sell their houses for an average of 12% more than market value while granting agents a competitive commission.”

Over 5,000 homes have been listed on Redy, with the seller receiving an average cash bonus of $2,357 upfront, the company said. 

Redy said that via its platform, the “tens of billions of dollars” agents have traditionally spent buying leads through big companies such as Google, Facebook, and Zillow go straight into the home seller’s pocket.

The seller selects the agent they want to interact with and then fully controls when this interaction happens. Redy said that home sellers can escape endless unsolicited offers and receive personalized agent proposals with a cash reward just for listing their home.

The company said it doesn’t share sellers’ personal, property, or contact information until they have chosen an agent.

Reality TV and disrupting residential real estate

Altman, the Redy co-founder, is a real estate agent/investor and reality TV star who appears with his wife Heather on Bravo’s “Million Dollar Listing.” He has popped up on “Keeping Up with the Kardashians” on E! as well.

Altman is leveraging his TV fame to further disrupt the real estate sales model, in which the traditional 6% brokers fee has already been disrupted by the National Association of Realtors settlement.

In March, NAR reached an agreement with plaintiffs that would, should it be approved by the court, end litigation of claims brought on behalf of home sellers related to broker commissions.

The settlement also includes some changes to real estate transactions, but consumers will still have choices regarding real estate services. Per the settlement, these practice changes will go into effect on August 17.

“At the core of the NAR settlement is a significant revelation: the real estate industry has systematically disempowered consumers,” Shelly Cofini, chief strategy officer at Redy, said in a statement.

She said that Redy is “revolutionizing the real estate market by transforming residential listings into valuable assets,” adding that their goal is to “empower home sellers with unprecedented control, fair competition, and total transparency.”

Redy’s aim is to out the seller in the driver’s seat.

“Our mission is to equip homeowners with the tools to manage and maximize the value of their property listings fully,” Cofini said.

And agents, who convert only 1 out of every 100 leads they get from major advertising per NAR’s data, benefit, too.

Cofini summed it up: “At Redy, we enable agents to secure listings rather than chase leads,” 

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