A Michigan-based technology startup is trying to shake up the real estate industry with their new online platform.
Reozom.com aims to provide a more streamlined solution for listing and buying homes. The site has transformed from a service that lists properties on all major real estate sites to a platform that also allows buyers to contact sellers, set up showings, negotiate offers and even sign the purchase agreement.
“The goal is to make the whole process seamless and paperless,” said Reozom co-founder Edi Demaj.
Edi and his brother Etrit teamed up with Justin Tibble, a real estate entrepreneur, to launch the platform last year. Edi says they felt like the industry needed an update.
“One of the things we came up with…a central location,” said Edi.
What started as an experiment in 2015 has far surpassed the three founders’ expectations and now an expansion to other states is planned. After its first year, Edi says the Reozom platform sold $60 million in real estate— that translates to about 250 homes.
In addition to simplifying the buying and selling process, the creators are also hoping to save people money in the real estate game. Sellers pay a one-time fee of $285 for the service, helping them avoid higher agent commission fees, according to the company.
The startup has an office in Port Huron and uses a co-working space in Detroit. The plan, according to Edi, is to eventually move the operations to downtown Detroit.
Edi and Etrit moved to Michigan from Kosovo nearly 17 years ago—and now, Edi says, they want to give back to the place that has given them so much. Their Reozom team isn’t new to the startup game. In 2014, Edi also co-founded Rocket Fiber, a Fiber Optic Internet, Cable and Phone Service Provider. Detroit Businessman Dan Gilbert became Rocket Fiber’s financial backer.
While Edi notes that Reozom won’t be the answer for 100 percent of people buying or selling a home, he says he hopes it appeals to those who are a bit more tech savvy and like to do things on their own.
“The process of buying or selling a home is not that complicated. Our job is to simplify,” said Edi.
