Not more than a month after expanding with a home trade-in program, real estate technology company Reali has launched an escrow program in an effort to save homebuyers and sellers time and money.
The program, called Reali Escrow, provides escrow services at flat-rate prices and allows Reali to reach all parts of the real estate transaction.
"We continue to focus on making the real estate transaction much more transparent, efficient and consumer-friendly," said Amit Haller, Reali CEO.
Usually, escrow services are performed through a third-party. Reali said that it wants to simplify the escrow process by eliminating the third party, and make the process as efficient as possible.
"For too many buyers and sellers, escrow is often the most stressful part of the home purchase as they lose transparency into what can be a mysterious process. Reali Escrow helps close the real estate transaction with the same level of exceptional service Reali buyers and sellers get from the first time they work with us," Haller said.
Earlier this year, Reali acquired Lenda, an online mortgage lender that launched in 2013, and launched Reali Loans. In 2018, Reali offered one of the nation’s smallest transaction fees in one of the nations most expensive real estate markets and announced a new program that would help certain California buyers and sellers buy or sell their home for only $950.
In July, Reali redesigned its app to better support the end-to-end journey for its homebuyers.
The company has also raised nearly $40 million in several funding rounds over the last several years, including a $9 million raise earlier this year, a $20 million raise last year, and a nearly $10 million raise in 2017.
