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RealX is the UBER of real estate, cutting the traditional brokerage commissions by half

RealX introduces technologies and new business models, that will enable it to disrupt the real estate market, improve the experience, and cut the traditional brokerage commissions by half.



Overview

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RealX is a technology-powered real estate brokerage, which will do a revolution in the way people buy and sell homes. RealX is the first platform implemented on the secondary property market that combines the search and sale process together with legal aspects of closing the deal. 

RealX will disrupt the real-estate market with an efficient business model. The company can be worth $200 million in 4-5 years in Israel alone. RealX plans to expand to Europe and/or USA. 

RealX is backed by strategic investors that own Coca Cola, Bank Mizrahi, Keshet TV and more.

 

Product

  • RealX is a technology-driven brokerage start-up and a marketplace for second-hand apartments. RealX developed a one-stop-shop solution from property search engine to legal aspects of the deal focusing on premium user experience.
  • RealX’s technology extracts all the required data and presents the necessary information to choose the right property, provides an advanced CRM tool to accelerate and manage the deal process.
  • Front-end interfaces include Seller, Potential Buyer, Agent (Expert) and Lawyer.

Market

  • 104,360 residential properties were sold in Israel in the last 12 months. The market size is $25.8 bln. (91 bln. NIS).
  • 73% of the sold properties were second-hand, amounting to 76,590 2nd-hand deals per year.
  • The average price for a 2nd hand property in Israel is $372.7k (NIS 1,314,703).
  • 60% of the 2nd hand transactions are done with an agent (40% of them represent big brokers and 60% represent independent agents).
  • Average brokers’ commission is 3% (1.5% on average from each side of Seller and Buyer).
  • Annual 2nd hand brokerage and lawyer commission is $465M (1.64 bl NIS). Annual “missed” brokerage and lawyer commission opportunity is $309M (1.09 bln.NIS).
  • RealX selected mid-high end urban areas with an average price of $510k (1,8mln NIS) and 49.4k 2nd hand deals. Segment potential is $756M in commission.

Team

Shai Spiegelblat

Shai Spiegelblat

Co-founder & CEO
Education:
  • IDC Herzliya, MBA (2009-2011)
  • Ben Gurion University, B.A. in Nuclear and Electrical Engineering (1996-2000)
Experience:
  • Qualcomm, Principal Engineer and Chief Architect for 5G (2012-2017)– semiconductors, 32k employees in LinkedIn
  • DesignArt Netwoks, Director (2011-2012) - silicon provider for 4G infrastructure products, 2006 founded, sold to Qualcomm in 2012
  • CEVA, Chief Architect (2003-2011) - licensor of signal processing IP for a smarter, connected world, 905 employees on LinkedIn
  • DSPG, Senior Developer (2000-2003) - provider of wireless chipset solutions for converged communications, 637 employees on LinkedIn.
Aviv Garten

Aviv Garten

Co-founder

Education:

  • IDC Herzliya, MBA (2009-2011)
  • IDC Herzliya, B.A. Computer Science (2003-2006)
  • IDC Herzliya, Graduate of the Sam Zell Entrepreneurship Program (2006)

Experience:

  • SkyPower Global, Senior Vice President (2013+) - Global leader of utility-scale Solar energy projects
  • Orlight Renewable Energy, Co-Founder and CEO (2010-2013) – A greenfield developer of Solar PV projects in South Africa, exited to a US PE Fund in 2013.
  • The Beny Steinmetz Group, Business Development (2007-2010)

Eran Raderman

Eran Raderman

Head of Product

Education:

  • MBA, Global MBA program in Innovation & Entrepreneurship.
  • BA, Computer science.

Experience:

  • More than 10 years experience in B2C.
  • Payoneer - Product manager – 2+ years.
  • Wix - Product manager and SEO lead – 5 years.
  • Fundtech - QA team leader – 4 years.
Itzik Hallak

Itzik Hallak

CTO

Education:

  • Sc. Computer Science, The Academic College of Tel Aviv-Yaffo

Experience:

  • More than 15 years experience in Web R&D
Tomer Magal

Tomer Magal

Director of Sales

Education:

  • MBA, major in strategy and entrepreneurship, Recanati School, Tel Aviv University
  • B and B.A in Business Administration, major in Finance at IDC Herzliya
  • Dean's Honor list on 1st , 2nd , 3rd , and 4th Graduated Magna cum Laude

Experience:

  • Global-e, Senior marketing manager
  • Deloitte Israel, Senior business strategy consultant
  • FBC & Co law firm, Junior associate
  • Founder and GM of 'Herzliya Apartments’
  • Chairman of the Executive Board of the 'Super Hevrati' (volunteer)
Lea Daniel

Lea Daniel

Senior Sales Manager

Education:

  • MBA, general program IDC
  • BA, Finance and capital market IDC

Experience:

  • Lilinet – owner and CEO, specialized in new real estate projects, 6 years
  • ReMax – Sale luxury apartments in Hezeliya Pituch, 2 years
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