RESAAS Announces Commercial Real Estate Data-share Pilot

Rhea-AI Summary

RESAAS Services Inc. (TSXV: RSS, OTCQB: RSASF) has announced a commercial real estate data-share pilot with CBRE Vancouver as the anchor tenant of 'RESAAS CODE'. This Commercial Real Estate Data Exchange solution will allow CBRE Vancouver's Research Division to share available properties with select other Commercial Real Estate Brokerages. The pilot aims to solve the data-sharing problem in the commercial real estate market, making property tracking more efficient and scalable.

RESAAS CODE is designed to enable secure data sharing using RESAAS as a centralized Data Warehouse, adhering to CBRE's strict data protection standards. This initiative leverages RESAAS's experience in residential real estate data sharing, adapting its technology platform to support the nuances of commercial real estate.

Positive

• RESAAS secured CBRE Vancouver as anchor tenant for its new Commercial Real Estate Data Exchange solution
• The pilot program addresses inefficiencies in commercial real estate data sharing
• RESAAS expands its services from residential to commercial real estate, potentially opening new market opportunities

Negative

• None.

VANCOUVER, BC, Aug. 14, 2024 /PRNewswire/ - RESAAS Services Inc. ("RESAAS") (TSXV: RSS) (OTCQB: RSASF), a leading provider of technology solutions for the real estate industry, today announced CBRE Vancouver as the anchor tenant of "RESAAS CODE", a Commercial Real Estate Data Exchange solution developed by RESAAS.

CBRE Vancouver's Research Division has worked closely with RESAAS to develop the pilot, and will use RESAAS CODE to share its available properties with select other Commercial Real Estate Brokerages.

"CBRE's Research Division is tasked with accurately tracking available properties in our market across all Brokers and Brokerages," said Jason Kiselbach, Managing Director of CBRE Vancouver and Executive Vice-President of CBRE Canada. "Keeping up with this task is an enormous undertaking, and requires incredible amounts of concerted effort. We are proud to be the first major Commercial Real Estate Brokerage to work with RESAAS to solve this data-sharing problem in our market."

RESAAS launched RESAAS CODE specifically to allow Commercial Brokerages to securely share their Data using RESAAS as a centralized Data Warehouse. All client and company Data will be secure as per CBRE company protocols which require the strictest data protection standards.

"The way that Data is shared in Commercial Real Estate can be inefficient and does not scale well. RESAAS is solving this problem," said RESAAS CEO, Tom Rossiter. "RESAAS has several years' experience working with global residential real estate organizations, enabling them to share their valuable Data in a secure and scalable manner. The RESAAS technology platform has been adapted and now supports the nuances of how Commercial Real Estate varies from Residential. RESAAS looks forward to empowering progressive Commercial Real Estate Brokerages like CBRE Vancouver in modernizing how Data is tracked, shared and integrated."

About RESAAS Services Inc.

RESAAS is an award-winning technology company serving the Real Estate Industry, uniting all Real Estate Brokerages and Agencies in one Global, Centralized Industry Platform.

Over 600,000 RESAAS Agents in 160 countries have access to unique Real Estate Data, providing access to qualified international referrals and Coming Soon listings only available inside RESAAS. 

Some of Real Estate's largest organizations leverage RESAAS to provide Business Intelligence, new business opportunities, and real-time industry-wide communication. For more information, please visit www.resaas.com.

Disclaimer

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from RESAAS Services Inc.'s expectations and projections.

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SOURCE RESAAS Services Inc.

FAQ

What is RESAAS CODE and how does it benefit commercial real estate brokerages?

RESAAS CODE is a Commercial Real Estate Data Exchange solution developed by RESAAS. It allows commercial brokerages to securely share their data using RESAAS as a centralized Data Warehouse, making property tracking more efficient and scalable.

Who is the anchor tenant for RESAAS CODE and when was this announced?

CBRE Vancouver was announced as the anchor tenant for RESAAS CODE on August 14, 2024. CBRE Vancouver's Research Division will use RESAAS CODE to share its available properties with select other Commercial Real Estate Brokerages.

How does RESAAS (RSASF) ensure data security in its Commercial Real Estate Data Exchange solution?

RESAAS ensures data security by adhering to CBRE company protocols, which require the strictest data protection standards. All client and company data will be secure within the RESAAS centralized Data Warehouse.

What experience does RESAAS (RSASF) have in real estate data sharing?

RESAAS has several years of experience working with global residential real estate organizations, enabling them to share their valuable data securely and scalably. They have now adapted their technology platform to support the nuances of commercial real estate.