For the second time in my career I have been published on the front page of the Financial Post! The first time was last summer with a story about entrepreneurship for immigrants, and now I have done it again with a story on RealtyForSale.ca, a real estate listings website with a twist.
Buyers who purchase a home listed on the site receive a 1% cash back rebate. This rebate is funded by the agent’s commission. You might think they wouldn’t be cool with that, but RFS provides them with a steady supply of free leads and takes care of all the paperwork, so all the agents really have to do is show the home. It’s a pretty sweet deal for both parties involved.
The website has made such a splash in the industry that it has already attracted investors looking for a 50% stake in the company. Did I mention that it just launched in June 2014? Not bad for such a young start up. RFS is a disruptor, and the future is looking bright.