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New platform that automates real estate transactions just launched
Recent graduates streamlined deals in automated system
FlareAgent has joined the wave of tech firms aiming to transform the real estate industry with new software that streamlines the transaction process.
The company launched this week, TechCrunch reported. It was co-founded by two recent NYU grads, Abhi CVK and Rashid Aziz.
The co-founders created the platform in order to fast-track deals. They claim that the software helped Aziz’s father’s firm grow from 20 deals per month to more than 100 deals per month.
The system includes digitized purchase offers, escrow documents, and closing agreements for brokers and clients — all of which is traditionally done manually via fax or mail. The FlareAgent platform reportedly allows changes can be made quickly, eliminating time spent fixing errors or changes. The only thing that doesn’t go through FlareAgent is the money changing hands.
FlareAgent charges monthly subscriptions for the platform. The company says it has about 100 agents who have processed more than 2,500 transactions.
Tech has been changing real estate models in countless ways of late, from Pacific Union’s Private View web portal for pocket listings to the new Home Bay, which streamlines the listing and selling process through its online platform. For example, the listings platform and brokerage Truss, which allows potential tenants to browse space online, launched last month in Los Angeles, its 10th U.S. city. [Tech Crunch] — Gregory Cornfield