The RESAAS Services Inc (CNSX:RSS) order for a referral platform from the world’s biggest real estate franchisor Keller Williams was described as a “potentially important sales catalyst” by analysts at Roth Capital Partners on Thursday.
The broker reiterated its Buy recommendation on RESAAS and also its 12-month share price target at C$2.35. RESAAS shares closed up 20.8% at C$1.45 on Thursday.
Within hours of news of the deal breaking, Richard Baldry at Roth noted: “RESAAS today announced a deal to provide its platform as an internal ‘referral and communications’ tool for Keller Williams. Building on early wins with Realtor Associations, we believe this real estate franchisor win bolsters the credibility of RSASF as an emerging real estate market technology vendor… Today’s announced win with Keller Williams expands its reach into the Real Estate franchisor space.”
Keller Williams has around 170,000 real estate agents in its network.
Unlike, popular online residential real estate listings systems which largely contain dated information with many listings sold prior to MLS listing, Roth noted that RESAAS’ss first commercial tool offered Realtor Associations “realtime MLS” functionality with the past year seeing several large-scale Realtor association wins including Austin, Miami, Oakland, San Diego and San Francisco.
Story by ProactiveInvestors