From spam texts to daisy-chainers, the real estate wholesaling industry has a lot of friction.
It took an insider to fix these problems. Meet Bobby Suarez, CEO of Sell to Bobby and one of the largest homebuyers in Florida. Suarez has brought his years of experience as a wholesaler and investor to his newest endeavor, Rezzie, an off-market marketplace for discounted properties. TRD sat down with Suarez to learn how he’s revolutionizing the way wholesalers and buyers do business across the country and impacting the entire industry.
From in-house tech to industry solution
Rezzie began as internal software for Sell to Bobby to manage investments, but Suarez saw that it had the potential to be a way to catapult the entire wholesale industry into the present.
“I created Rezzie to have a professional marketplace,” says Suarez. “The way that we wholesale deals now is very antiquated.”
The status quo involved wholesalers indiscriminately sending emails and texts about properties, rather than targeting buyers. It’s a pain point that Suarez also felt as an investor, describing being in WhatsApp groups where he was bombarded with a wholesaler’s entire inventory all day.
“We were just blasting the buyers without having the analytics,” says Suarez. “We didn’t know who was looking or who was interested in anything. It’s just very informal and very annoying.”
A new way of selling
For wholesalers, who pay a fee to join, Rezzie works as a buyer management tool. Subscribers invite their current buyers to join the platform and build their “Buy Box,” a set of specific deal characteristics such as location, price, property type, or ROI.
“Once they do that, then wholesalers can see all their buyer analytics,” says Suarez. “You can see who’s a Buy Box match, so you can be proactive and start calling buyers.”
Wholesalers get a trove of buyer data, including analytics on which deals buyers have viewed, how many times they’ve viewed them, and who has saved them. Each wholesaler’s buyer list remains private and is not shared with other wholesalers on the platform, although they can still grow their buyer lists on Rezzie.
“Buyers can see every deal if it meets their Buy Box, and they can subscribe to a wholesaler’s list,” notes Suarez. “So organically, each wholesaler is going to start growing buyers.”
Buying with confidence
While Rezzie arms wholesalers with data, it brings a new level of clarity and sense of security for investors, who no longer have to worry about daisychainers or wholesalers who don’t have the direct deal.
“Another thing I was trying to solve with Rezzie is getting rid of middlemen that always ask for price reductions and then increase the price before they show it to their buyer,” says Suarez.
“We want to create a lot of transparency for our investor buyers.”
Suarez is aware of the misconceptions people have about the wholesaling industry due to some bad actors and scammers, which is why he wants Rezzie to be a place where buyers can feel confident investing.
The platform is selective about who it allows to join as a wholesaler, only permitting companies that do their own marketing and bring their own deals. It is also quick to deal with any wholesalers who aren’t operating at its high ethical standards.
“We’re really picky,” says Suarez. “If we hear that there’s an issue with a wholesaler on Rezzie, and we’re kicking you out immediately.”
Suarez is also making it easier for buyers to find financing and start investing on Rezzie, thanks to an integration with his hard money lending company, propylender.com.
“With the click of a button, buyers can say, ‘I’m interested in hard money for this property,’ and it will notify my lending team, which offers bridge and DSCR loans,” says Suarez. “I am also working to create a lending engine that matches buyers and lenders based on the buyer’s experience and the asset.”
Building for the future
Rezzie is already finding success, drawing major wholesalers such as Obi Dorsey from Wesellhousesjax.com and James Hawk from fairhomebuyers.com. Experienced investor Paul Lameiro has found Rezzie to be a gamechanger, making it easier to manage his inventory and reach serious buyers quickly.
“I love the platform,” Lameiro says. “Rezzie is easy to use and it’s been great for my business.”
But Suarez isn’t done innovating. He has big plans for new tools and features on Rezzie, and the company recently released apps on Apple and Android.
From freeing investors from relentless spam to giving wholesalers the data to build their business, Rezzie is changing wholesaling and investing for the better.
For more information on Rezzie, visit rezzie.com.