PARAMUS, N.J., Nov. 21, 2014 /PRNewswire/ -- Blast Realty has adapted today's Internet and telecommunications technology to turn a failed idea from the 90s into a winning proposition. The real estate brokerage promises commissions "as low as 3%," which are made possible thanks to the company's unique business model.
"The crash of the 90s Dot Coms was partly a result of too much focus on companies and personalities and not enough energy directed toward products and services," explained Broker/Owner Carmelo "Mel" Oliveri. "Blast Realty launched with the goal of providing a superior service at a more-than-competitive rate. We use technology as a tool to deliver those services, but the goal is always to save people money and exceed their expectations of what a real estate brokerage can be."
Blast Realty is a full-service and fully online real estate brokerage firm. The paperless, web-based platform provides on-demand customer service and expertise that other brokerages cannot match. Despite having no physical office space in the traditional sense, Blast Realty offers everything one could expect from a real estate brokerage, from highly polished marketing and advertising to representation, negotiation and video tours of properties. The firm's paperless model is also environmentally friendly and saves a tremendous amount of overhead.
Although not the first brokerage to offer commissions as low as 3%, Blast Realty is the first to achieve this feat while preserving profitability and sustainability. Twenty years ago, a startup discount real estate brokerage called Foxtons served the tri-state area, but its approach to the industry was too far ahead of its time. The company tried to combine incredibly low commissions with the standard, high-cost service model. However, like other over-ambitious Dot Coms, Foxtons quickly folded up shop.
Oliveri contends that Blast Realty is building a future-proof business model, while many competitors stubbornly maintain the status quo. Case in point: Private equity investor Warren Buffet recently acquired Prudential Real Estate, renaming it Berkshire Hathaway Home Services in the process. But was that a "prudent" investment, given how fast technology is shifting the landscape? Will Berkshire Hathaway pivot quickly enough when Millennials enter the real estate market in force and expect services that reach them where they are – namely, on mobile devices?
Commissions of up to 6% are standard fare in the real estate brokerage industry, but perhaps not for long. Blast Realty is actively working to disrupt that model, just as Netflix made Blockbuster obsolete and Amazon.com continues to undercut Best Buy. Ultimately, the consumer wins when technology trims costs from the equation.
Not content to rest on its laurels, Blast Realty has plans to expand its services to New York in the coming year.
About Blast Realty
Blast Realty is a technology-driven business model. Licensed agents are available 7 days a week via a virtual office; agents can submit forms, contracts and offers under Blast Realty's collaborative platform. As we reduce costs with printing and file storage, our brokers save time and money. Our agents spend more time with clients and less time marketing and advertising to find them. A dedicated Blast Realty agent works smarter, better and faster, which gives our clients the top-level treatment they deserve. Satisfied clients mean more great referrals and happy agents, which makes our business model the new win-win standard in the residential real estate industry.
SOURCE Blast Realty