With a growth rate of 25% per month in the New York market, Ryan Serhant-backed RLTY’s commission and development funding is now available to agents, brokerages and developers in South Florida
MIAMI, FL – November 5, 2021 – RLTY Capital, a New York-based REtech platform and specialty finance firm backed by Ryan Serhant and SERHANT. Ventures, today announced its expansion to South Florida. RLTY enables real estate agents, brokerages and developers to secure earned commissions and funding upfront with a seamless application process and no hidden or extraneous fees. South Florida, one of the nation’s most heated and competitive real estate markets, is prime for RLTY’s entrance as the industry grapples with unprecedented demand from local, domestic and international buyers and warrants future-proofing tools to stay ahead. RLTY’s underwriting is powered by a proprietary AI-enabled platform along with the ability to secure real-time data from Florida listings services. RLTY purchases commissions; it does not supply loans.
RLTY launched in New York this May and has since funded millions in deals for agents, brokerages and developers. The service provides beneficial cash flow across both sides of the industry: sales along with both commercial and residential development. Typically RLTY purchases up 80% of a commision/deal but in certain cases may purchase up to 100%. South Florida’s real estate professionals will be empowered to reinvest in their businesses, fund lead generation, and cover everyday operating expenses as the market continues to defy all expectations and inventory remains scarce.
Many leading NY agents who operate in both markets expressed the need for a service like RLTY in South Florida as most commission advancement services charge exorbitant fees and do not have the agent’s best interests in mind. It’s a misconception that agents only benefit from commission advancements in weak markets, deals lag for a variety of reasons from delayed closings, appraisal issues and more. In fact, the strength of the market is why RLTY chose to expand here. In Miami-Dade County, for example, total home sales surged 142% in October 2021 compared to October 2020, according to Realtor.com, making it more challenging than ever to plan long-term.
The company was founded by real estate veterans, Briggs Elwell (Co-Founder and CEO) and Daniel Kennedy (Co-Founder and General Counsel), who deeply believe in the long-term outlook of real estate as a wealth-building asset class. RLTY comes as agents, brokerages, and developers crave innovative tools and capital to navigate the robust post-pandemic market. RLTY is committed to serving real estate professionals who have a proven track record of success and are looking to grow their businesses, hire and boost performance. The added layer of confidentiality is intended to make agents feel comfortable and secure in their decision to use RLTY’s services.
“RLTY took off faster than we ever imagined in the rapidly recovering New York market,” says Briggs Elwell. “We’re ecstatic to offer the South Florida real estate community a service that encourages forward-thinking in this surging real estate landscape.”
In South Florida the primary pain point for agents is not having the ability to keep up as the demand of every type of home is soaring. Agents on both the buy-side and sell-side continue to struggle to manage it all. RLTY enables these agents and developers to immediately reinvest in their businesses, work on their pipeline and stay on top of essential business activities to grow their teams and strengthen client relationships. RLTY will be offering educational seminars to all South Florida real estate brokerages and will gather a team of local experts to reach the real estate community.
Ryan Serhant, a leading real estate broker and CEO and founder of SERHANT., is a partner and equity holder of RLTY via SERHANT. Ventures, part of the greater SERHANT. ecosystem that develops resources and solutions for real estate agents. Earlier this year, Serhant represented the buyer of the most expensive home sale ever in the state of Florida in Palm Beach County for $132.88 million. His buyers have long sought out second homes in the Sunshine State, and since the pandemic, he has honed in on South Florida for its long-established ties with the New York market and strong fundamentals in the current tax climate.
“RLTY Capital is a service that enables agents to do what they do best without concern for funding gaps,” says Serhant. “As we continue to help the industry modernize with new tech solutions, we are excited that RLTY will now be available to the booming South Florida market. I’m eager to see how these attractive counties will benefit from RLTY as they plan for the future, especially as older housing stock gets redeveloped.”
To learn more, Visit: www.RLTYCapital.com.
About RLTY Capital LLC
RLTY Capital is a REtech platform and specialty finance real estate firm that works with New York and South Florida real estate agents, brokerages and developers to acquire pending real estate commissions for residential and commercial properties. RLTY handles sales and rental transactions. The company uses both traditional and proprietary technology-enabled underwriting processes which in turn provide real estate professionals with a seamless application process and maximum confidentiality.
About SERHANT. Ventures
SERHANT. Ventures incubates, innovates, invests in, and invents ideas that propel the real estate industry and the success of all its agents forward. The division develops resources for real estate agents that inspire, connect, and inform in today’s new marketplace, helping to further the SERHANT. mission of operating as an agent-first brand. Brands within SERHANT. Ventures include: Sell It Like Serhant, a best-selling book, digital training course, community, and proven sales toolkit that empowers agents to become the ultimate sales machine, and Big Money Energy, a best-selling book, course and confidence blueprint offering proprietary techniques and insights to help all professionals generate more magnetic energy to attract more opportunities. SERHANT. Ventures is also an investor in the RE-tech and proptech categories having partnered with RLTY Capital, a company designed to provide solutions for agents to secure their commissions faster with a modern and new, fintech platform and having invested in SquareFoot, a marketplace that helps companies find office spaces.
To learn more about the future of the real estate, Visit: serhant.com/ventures