SAN MATEO, Calif., Aug. 24, 2022 /PRNewswire/ -- Reali, the real estate and fintech platform transforming home buying and selling, announced today it will begin a shutdown and will be laying off most of the workforce on September 9, 2022.
Co-Founder and Chairman of the Board Amit Haller said, "Reali was one of the pioneering companies to offer the 'buy before you sell' and 'cash offer' programs to homeowners. We believed deeply in benefiting the consumer foremost in every transaction. The six years Reali spent evolving the prop tech market in California helped elevate and transform the industry."
Due to the challenging real estate and financial market conditions and unfavorable capital-raising environment, Reali determined the best course of action is to close. Active real estate transactions will continue to be supported through the end of the year by a small team of employees. Reali is in ongoing conversations with companies that have expressed interest in acquiring specific parts of its business, including mortgage origination, title & escrow, and power buying.
"We had an incredible six-year run delighting homeowners," said Tyler Baldwin, Chief Executive Officer of Reali. "We want to extend our deepest gratitude to the thousands of homeowners who trusted Reali with their homeownership journeys, the Reali team, our investors, and those who rooted for us from the sidelines. It has been a pleasure to serve our communities."
Reali launched in 2016 and is a real estate and fintech company creating a one-stop shop to make homeownership streamlined, accessible, and stress-free every step of the way. We leverage first-in-kind technology and trusted real estate experts to serve home buyers, borrowers, and sellers in a single, integrated platform. Our wide range of alternative financing solutions makes a complicated process like buying and selling at the same time much less complicated. Customers can buy and sell in one coordinated transaction, eliminating resale contingencies, moving twice, and paying two mortgages at once.