RE50 will operate as the online platform’s real estate brokerage partner, assigning a licensed, designated broker in each jurisdiction where needed. RE50 will manage the licensing process with each state real estate commission, handle all reporting and audit requirements, and advise the company’s management team on real estate brokerage matters while ensuring maximum operational flexibility for the platform.
Online real estate platforms continue to grow in popularity and proliferate across multiple service categories, including listing services, lead generation, digital marketing, offer and contract management, market research, and other services that empower real estate professionals and consumers. To develop more engaging and efficient business models, online real estate platforms sometimes choose to offer services that constitute real estate brokerage activity under applicable law. For these businesses, RE50 can provide an efficient compliance solution to the platform.
