RESAAS CODE Expands with Addition of Multiple Commercial Landlords

Rhea-AI Summary

RESAAS Services Inc. (TSXV: RSS, OTCQB: RSASF) has announced the expansion of its RESAAS Commercial Data Exchange (CODE) platform with the addition of multiple commercial landlords. Following a successful pilot phase with CBRE in Vancouver, RESAAS CODE has now reached full commercialization. The platform enables commercial brokerages to securely share real estate data with third parties.

Key highlights:

• Three major national office landlords have joined RESAAS CODE
• Landlords provide availability data, which RESAAS CODE processes and shares with brokerage customers
• Subscription-based model generates monthly recurring revenue
• Strong demand for expansion into additional markets across Canada and the United States
• Current customers have national or North American footprint, facilitating rapid growth into new cities

Positive

• Successful completion of pilot phase and full commercialization of RESAAS CODE
• Addition of multiple commercial landlords to the platform
• Generation of monthly recurring revenue through subscription-based model
• Strong demand for expansion into additional markets
• Potential for rapid growth into new cities due to customers' national/North American footprint

Negative

• None.

VANCOUVER, BC, Oct. 9, 2024 /PRNewswire/ - RESAAS Services Inc. ("RESAAS") (TSXV: RSS) (OTCQB: RSASF), a leading provider of technology solutions for the real estate industry, today announced the expansion of RESAAS Commercial Data Exchange (CODE) with the addition of multiple Commercial Landlords joining the Platform.

RESAAS CODE was launched in August, enabling Commercial Brokerages to securely share their Real Estate Data with third-parties via RESAAS. CBRE was the first Brokerage announced to use RESAAS CODE during its Pilot phase in Vancouver. 

With the Pilot phase successful and now complete, RESAAS CODE has reached full Commercialization.

"Achieving Product-Market Fit so quickly following the launch of the Pilot is an important milestone and strong indicator of future growth," said Tom Rossiter, CEO of RESAAS. "Rethinking how Data is shared within Commercial Real Estate has attracted significant attention, from both the Brokerage community and Commercial Owners and Landlords. RESAAS is proud to announce the addition of Commercial Data from three major National Office Landlords to RESAAS CODE."

Multiple Commercial Owners and Landlords now provide RESAAS CODE with their availability data. RESAAS CODE securely receives, organizes, transforms and shares this Data with Brokerages customers. Brokerage and Landlord customers subscribe on an annual basis to access RESAAS CODE, generating monthly recurring revenue for the Company.

"RESAAS has received strong demand from customers to expand quickly into additional markets across Canada and into the United States," continued Rossiter. "Our current Customer base, across both Brokerage and Landlord, all have a National or North-American footprint, enabling RESAAS CODE to grow into additional cities quickly and efficiently."

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 when was it launched?

RESAAS CODE (Commercial Data Exchange) is a platform that enables commercial brokerages to securely share real estate data with third parties. It was launched in August 2024.

How many major national office landlords have joined RESAAS CODE?

Three major national office landlords have joined RESAAS CODE, providing their availability data to the platform.

What type of revenue model does RESAAS CODE use?

RESAAS CODE uses a subscription-based model, where brokerage and landlord customers subscribe on an annual basis, generating monthly recurring revenue for the company.

Which company was the first to use RESAAS CODE during its pilot phase?

CBRE was the first brokerage announced to use RESAAS CODE during its pilot phase in Vancouver.

What are the stock symbols for RESAAS Services Inc. (RSASF)?

RESAAS Services Inc. trades on the TSX Venture Exchange under the symbol RSS and on the OTCQB under the symbol RSASF.