Austin based CRE tech startup, Leasey raised a whopping amount of $1.1 Million from Frederic Sealey Capital a commercial real estate investment firm. The early stage start-up, Leasey is commercial rental platform solution provider. They seems to be really focusing and promising on the various challenges in the commercial real estate industry. According to Adam, Chief Product officer, company’s main goal is to providing solution to the tenants and landowners to find perfect deals in the real estate market by taking away the manual method of going through the online search or referrals to look for potential buyers
Leasey in the real estate industry will completely change the face of how it works. The fundamental functioning of the startup is to set up a marketplace where building owners, landlords, retail owners can list the properties for free of cost. Also, on the other hand, the buyers will be able to filter and browse all the properties by location, type, size, pricing, reviews and past deals. The list allows potential buyers to find out the best fit for their project.
Moreover, the homeowners and landlords will be able to cross check if the buyer has a good record by accessing the digital profile where they can do the bank verifications, total transactions and read the reviews. This will make the life very convenient for real estate agents from both the sides.
Frederic Sealey took interest in this business and made the decision to invest because of the rise in demand for the digital services to match sellers and buyers needs. Also, Leasey has launched the Smart Contracts which is a feature that will decrease the hard copy requirements.
In addition to the transparent market, the customer service experience is also amazing. The buyers can take a look at properties in Virtual Reality which give them the view of the entire property before scheduling the official visit to the location without getting surprised at the location.
Within the location, the 360-degree panoramic picture of each location gives clarity in the High Definition. This helps in building the credibility and trust between the seller and purchaser. In addition, the landlords can also broadcast the live telecast about the properties where the sellers can ask questions on the real-time basis. This process allows many questions to be answered without conducting any meeting which can be often time-consuming for both the sides. During the live stream, the landlords can share schedules and other important discussions with the prospective buyers.
Leasey offers the live channel where buyers can join any of the live broadcast session. This puts Leasey on the top of the competition. For all the owners and landlords who don’t have high definition video camera to showcase the homes, Leasey offers professional photographers who can visit your home and take pictures and record videos of the place. This is one of the important parts because the bids are dependent on videos and pictures.
Leasey is currently offering the discounts on such additional services to attract more people to get quality pictures recorded. The bidding system is also unique as the customer only have to pay 10% higher than whatever the second good option is. This allows the customer to avoid spending more than whatever the last customer was offering. This prevents sudden inflation of the pricing.
According to Sealey, Leasey also offers protection policy which is unique because the customer is covered under seven-day protection policy after paying to the seller. That means in case the property is not what customer had expected, the payment can be refunded completely. This is a completely new concept for the industry as it gives confidence and also protects buyers and help them with safe transactions.
Leasey charges a very minimal fee on refunding in order to protect seller because even he would end up losing money because of the reversal of the transaction. The company has data analytics team which also allows them to see the real-time dashboard on different property rates and previous transaction for every property. This is a great help to understand the updated pricing structure so that there are no frauds and both the sides are well protected. The management of Leasey has high focus on various customer insights and data.
The regional hubs and diversification sites set up by Leasey is another unique offer to this product. From South East Asia, Europe to America, investors can pick any property across the world. The product team has further plans to expand in China due to the growing real estate market.
The team has also shortlisted few international banks to cover the financing part which will be of great help to the buyers who can immediately confirm the deal via installment plans. Everything happens on a real-time basis without the bottlenecks. In case customer applies for a loan, banks can help in taking immediate action on whether it will be approved or not.
Insurance has always been a problem for house owners and landlords as there are times when buyers delay the payments. To solve this problem Leasey offer various insurance plans for owners for an additional fee which would allow them to protect against the delay or failure in making the payment.
The features like protection policy and diversification makes Leasey a very effective and sturdy service in the real estate market. This is one reason that made Frederic Sealey invest into this new startup. Adam Jhones, the CTO indicated that there are more new technical developments happening in this domain that includes features like voice recognition that would improve customer experience and also the average transaction value in next two years time period.
Company Name: Leasey
Contact Person: Nora Jones
City: New York
Country: United States