Rlty Capital, a REtech platform and specialty finance firm, has launched with the introduction of a service that enables real estate agents, brokerages and developers to secure earned commissions upfront with no hidden fees or extraneous costs. The firm’s underwriting is powered by a proprietary AI-enabled platform, deep relationships within the real estate community, and the ability to secure data from New York City listings services in real time.
The first and only firm to focus solely on New York City, Rlty will empower real estate professionals to reinvest in their businesses, fund lead generation and cover everyday operating expenses as the market continues to rebound, the firm said. Rlty also will assist in capital funding of commissions directly to brokerages and developers, providing beneficial cash flow across both sales and development, it added.
Ryan Serhant, CEO and Founder of Serhant. Ventures, has signed on as a partner and equity holder of Rlty. Serhant. Ventures incubates, innovates, invests and invents ideas that propel the real estate industry and the success of all its agents forward.
“Realty Capital has entered the market when it’s needed most. While the New York real estate market has certainly rebounded, real estate agents are experiencing fluctuations in deal flow and a lag time in commission delivery,” Serhant said. “Rlty offers a platform that allows agents to access their commission upfront to reinvest in themselves and their business. As an agent-first company and one that is dedicated to helping the industry modernize with new tech solutions, we are proud to partner with RLTY to deliver a smart and practical solution to NY real estate agents.”
Founded by real estate veterans, Rlty launches as agents, brokerages and developers are seeking tools and capital to navigate the post-pandemic market. The company has gathered an advisory board of NYC real estate executives, including Related Companies’ Chris Schmidt and Michael Rossi, founder and CEO of Elegran Real Estate, a tech-focused brokerage. Hill Atlantic is also an investor and advisor, supervised by Minot Amory.
“The real estate community experienced unprecedented turbulence in the past year and we’ve developed a unique financial tool that enables real estate businesses to proceed without interruption,” said Briggs Elwell, co-founder and CEO of the company. “Our unique sourcing and confidentiality are core differentiators and are driven by our deep industry network.”