Since the start of our Equity Crowdfunding raise on Wefunder, RealtyHive has received a handful of questions and comments from investors and consumers alike, regarding RealtyHive and our overarching mission to redefine the gold standard of marketing in the real estate industry.
Our campaign has garnered the attention of many industry innovators and retail consumers, and we are excited to reach new heights of development through this phase of crowdfunding on Wefunder!
Below we have answered some of the most frequently asked questions, and aim to provide a more sound understanding of our process at RealtyHive, and our goals through our capital raise.
Q: How do the agents feel about both RealtyHive and Cashifyd? Is it considered competition?
What is so unique about what we’re doing at RealtyHive is that it’s not disrupting a service – we call it frictionless disruption. Everyone wants RealtyHive in the room; the agent, seller, and broker!
This contributes to an 85% adoption rate when RealtyHive meets with a seller about our product.
When you look at Cashifyd-
Agents will spend anywhere from $2,000 to $6,000 a month to be in a lead generation program like Zillow, Trulia, realtor.com to receive leads.
The great thing about Cashifyd is, you only pay as an agent when you select to participate in leads, and you only pay at closing. Total win-win.
We’re here to help agents, not take them out of the picture!
Q: So how big do you think RealtyHive can be?
The RealtyHive platform has the ability on the backend of our site to pull in about 90% of the MLS in the United States.
After taking a look at properties on the market for over a hundred days, we discovered $33 billion worth of real estate, just residential, remained on the market in the United States. And that’s in one of the best Real Estate markets ever!
When you add commercial, land, and businesses and take that worldwide, the number of people that need help when their property is being sold is massive, and RealtyHive is a tool that expertly services that market.
Q: What is Cashifyd’s purpose and what’s the market opportunity for cashback?
When we really dug into the industry a few years ago, we found that there were no open architecture platforms out there for cashback in real estate.
Through Cashifyd, anyone can participate, and they pay nothing unless they buy something. The agent only pays if they sell something. We see this as a huge opportunity, not just in the US, but around the globe.
Q: Do you have any big projects you are working on for enhancements and features to the RealtyHive & Cashifyd platforms?
The next level for RealtyHive is the automation of the connections. In other words, rifling into who needs us and when. The next step is through our backend system, identifying those agents that have the properties we know could benefit from our program.
At RealtyHive we anticipate enhancement by year end, allowing agents to claim their listings on our website, and be featured on their own properties for free.
We will also be rolling out two additional features! Soon we will allow lenders to join the app, create profiles, and be exposed to a large lot of buyers just starting their purchase process. Buyer’s get access to lender’s comfortable dealing with cashback, they fully understand how to do that process.
With interest rates as low as they may ever be, many homeowners have or will refinance. Now lending institutions have to look for ways of organic growth and Cashifyd fit right into that process.
The second big feature will be launching Cashifyd for sellers! Similar to connecting buyers with agents who offer cashback, Cashifyd for sellers will connect sellers with agents who offer deep discounts on the selling side.
Q: What does an exit look like for RealtyHive?
We believe we’re positioning the company for the right type of acquisition. We all really enjoy what we’re doing at RealtyHive, coming up with creative, new programs and ideas that can enhance marketplaces.
If we’re doing that and having a lot of fun, returning profits to our shareholders, perhaps we do it longer. If we get the right opportunity, with the right money, that would be a team discussion.
We love doing this, and we are going to do this as long as we can!
Q: How much feedback have you received so far?
We have gotten a lot of feedback from the most important people out there, which are the buyers and the sellers that use our programs. They see both RealtyHive and Cashifyd as game-changers to the industry, putting the consumers first while also working in tandem with agents and brokers.
We understand the industry very, very thoroughly. We know what’s wrong in the industry, and we know what’s wrong in the marketing aspect of it. We know how to be more effective at it, and we learn from every single one of our clients.
Q: What changes have you made based on that feedback?
The feedback that we get is in direct response to having meetings, not only with sellers on the RealtyHive side, but also the brokers, and what could make our platform easier to use.
On the Cashifyd side, we think it’s really important to talk to everybody (buyers, sellers, agents, and lenders). How’d you find us? What do you like? How can we help you? Was it easy to use?
Even though Cashifyd recently launched, we have already received some great suggestions from users that we will be putting into future enhancements.
Q: How many actual sales have you made?
On the RealtyHive side, we have tested and run through our platform for over 1,300 transactions. Meaning, 1,300 properties have come through the process and successfully closed.
Through that process, there’s more than just a property being on the site and closing. There’s the marketing that goes behind it as well. How effective was that marketing? What were our total counts on those properties for direct views and direct click-throughs?
Q: Who are your competitors?
There are portions of what we do at RealtyHive out there, such as old school auction companies that sell properties. However, RealtyHive brought that same process into retail formatting, tied behind clients’ needs, thus creating an entirely new funnel.
There are companies out there that just market properties, but they don’t have the unique factor of the Time-Limited Events and the potential to make marketing efforts more effective.
We have competitors; there’s no question. What is unique about RealtyHive is that we have created our own playing field. By creating your own playing field, you are able to create new rules of the game and that gives you a substantial advantage.
Q: Why choose the Equity Crowdfunding route?
We have some very smart, and very savvy real estate professionals that saw the opportunity and invested in us. On Wefunder, we are offering the exact same terms as we did with those very first investors. Now, both accredited and non-accredited, everyday investors can join us in changing the global real estate landscape.
Q: How much will be spent on founders’ salaries?
It’s a dollar! Our founder, Wade, is very invested in the company’s future successes.
Q: How will these funds be allocated?
Last year we did $1.7 million in revenue, without Cashifyd and some of our future enhancements. We’re raising money to speed up the process of these future features.
We think these new enhancements are of high value not just for the company, but for the consumers. The whole idea behind this is to raise money to bring in more developers to streamline our offering, releasing more RealtyHive & Cashifyd features to clients around the entire globe.
At RealtyHive, we deeply value our customers’ feedback, and encourage you to visit our raise page if you have any additional questions or comments regarding our raise and our platform.
We are now accepting early investors on Wefunder for as low as $500. Join our community of innovators here.