The Ledger
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Rela approaches $4 million in annual recurring revenue
“We're approaching for the year close to four, so four million.”
Rela would only raise venture capital from strategic real estate partners
“We, you know, we have enough, I think, to hire enough developers to get to the next step. I think we have enough capital on our own to do that, but, you know, we've always kind of gone back and forth on, on whether or not to raise money, and I think in our sit…”
Most Rela accounts come from local realtor associations
“Majority of our agents or actually the majority of our accounts are from the local realtor associations. And so they buy those in volume and they provide those to all of their members as a member benefit.”
Rela HQ reaches nearly 20,000 active real estate agents via volume deals
“So we're close to 20,000 customers. The majority of those are with the realtor associations that buy in volume and the marketing companies that are servicing, you know, thousands of customers at a time.”
Rela HQ has 2,500 individual agent subscribers averaging $80 monthly ARPU
“If you go to the homepage and you look at the agent plans that we offer on a monthly basis we've got about 2500 of those subscriptions and that that's where our average monthly revenue per customer is just for those plants at about 80.”
Rela generated about $400,000 in total revenue in 2017
“In 2017 we were at about 400,000 in revenue”
Rela's partner real estate associations have 8,000 agents each
“We have the associations that we've partnered with you know, have eight, 8000 agents at a time.”
Real estate marketing technology lags modern design trends by several years
“We saw an opportunity in real estate marketing as a whole in that they're always, they always seem to be, you know, three, four years behind in terms of technologies that they're using. Design trends and everything that was out there looked like it was built, …”
Rela projects $5 million ARR in 2019 via large brokerage deals
“If we could close a couple of the large brokerage deals we could get close to five million this year, but those deals are, those take a while to put together, so.”
Broker sales take six months; realtor association deals take one year
“The brokers, it's about six months for the for the realtor associations, Man, that takes about a year. Minimum.”
Rela operates with five full-time employees and occasional contract developers
“We have five full-time employees. We have a couple of developers that we reach out to on a contract basis when we're, when we need kind of specialty stuff.”