Proactive Investors - Run By Investors For Investors

RESAAS Services shares advance as it launches industry first payment system for referral fees

Resaas Pay allows agents to easily send payment for a referral fee through Resaas
Man with laptop
Resaas is a real estate focused technology group

RESAAS Services Inc (CVE:RSS), the real estate focused technology group, saw shares advance nearly 10% in Toronto Thursday as it revealed it had launched an industry first referral fee payment system.

Resaas Pay allows agents to easily send payment for a referral fee through Resaas.

Typically, these are the fees charged when one agent or broker in the property world refers a client to another.

Resaas will charge a transaction fee for each referral to facilitate the transfer of funds.

"Agents have been using Resaas to find referral partners for years, and we've helped thousands of transactions occur within our community of agents worldwide," said Tom Rossiter, CEO of Resaas.

"Through consistent demand from our agents, we are pleased to provide a more modern approach to paying referral fees with Resaas Pay.

"Resaas Pay closes the loop on the referral experience, and provides additional peace-of-mind, security and ease of payment for the agents involved."

Traditionally, a cheque has been the most common method of payment but they are slow to process, difficult to track and quite insecure, said the firm.

Resaas Pay provides agents with a way to pay the referral fee using credit cards, allowing them to earn points or airmiles.

One of the firm's clients RE/MAX has used Resaas extensively since 2014, under the label of the "RE/MAX Referral Exchange,".

It has used it for referral business amongst their agents worldwide. Resaas Pay will be available to all 123,000 real estate associates in the global RE/MAX network.

"RE/MAX Referral Exchange provides our network a valuable and convenient means to connect with other agents and facilitate referrals," said RE/MAX vice president of global development Shawna Gilbert.

"Resaas Pay now gives our associates the ability to complete an entire referral transaction, from introduction to close, on one convenient platform."

Resaas shares added over 9.5% to $0.46.

Reporting by Giles Gwinnett, contactable at [email protected]

View full RSS profile View Profile

RESAAS Services Inc Timeline

Article
December 12 2014

Related Articles

scientist in laboratory
March 07 2019
In a January update, Instem said trading had been in-line with expectations, helped by a 500% rise in orders for its SEND platform
lock
October 18 2018
Managed services revenue jumped 52% in the first half of 2018 with the order book standing at £2.4mln.
location map
April 02 2019
Verify helps brands detect location ad-fraud and verify the authenticity of location data to ensure their campaigns are targeting the areas they are supposed to

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use