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RESAAS shares move up 20% in a week on continued growth of its social network

Real estate social network RESAAS Services (CNSX:RSS) has seen a 20-per-cent jump in its share price in the past week as investors gear up for growth in 2013.
RESAAS shares move up 20% in a week on continued growth of its social network

Real estate social network RESAAS Services (CNSX:RSS) has seen a 20-per-cent jump in its share price in the past week as investors gear up for growth in 2013.

The social network for real estate professionals, mortgage specialists, home buyers and sellers is designed to enable real-time updating of property listings as well as the ability to sync with social media sites such as Facebook (NASDAQ:FB) and Twitter.

Shares shot up over 16 per cent on January 18 alone, just two days after the company announced a new deal with Southern California real estate firm Star Real Estate South County to join its platform.

Star Real Estate has been providing residential real estate services for Southern California neighbourhoods for more than 34 years, with agents trained in issues such as foreclosures and short sale real estate. 

The website,, also provides services to potential home buyers. 

Under the terms of the deal, all Star agents will receive their own corporate branded agent pages on RESAAS. The firm will also have a Star Real Estate South County News Page in order to broadcast information and remain in constant contact with members of Star Real Estate that are part of RESAAS' social network.

Real-time updates are one aspect of what sets RESAAS part from sites such as the Canadian Real Estate Association's Multiple Listing Service (MLS) website, where it can take a number of days for new listings to appear.

The company achieved a number of milestones in 2012, including a deal to work with The Residential Group Realty (TRG Realty) of Vancouver. TRG Realty, a real estate agency, started in April 2006, and has become one of the fastest growing companies in the Real Estate Board of Greater Vancouver. 

RESAAS noted that the five owners of TRG have more than 98 years of combined involvement in real estate sales in the Vancouver area. 

The company also recently added IT industry expert Pierre Chadi to its advisory board. Chadi is a senior executive with over 25 years of enterprise sales experience in the IT industry covering hardware, software, business solutions and professional consulting in Montreal, Ottawa and Toronto. 

More recently, he was Eastern Canada director of enterprise and public sales at Microsoft

Also last year, RESAAS was a winner at the Microsoft IMPACT Awards, an annual awards ceremony acknowledging innovation and excellence in Microsoft Partners.

The company was named the winner of the Windows Azure Platform Partner of the Year category, which specifically recognizes exceptional software in the cloud.

Since selecting Azure as its hosting provider in late 2011, RESAAS said it has experienced “tremendous growth”.

The company also welcomed Summit Realty Group to the its platform in 2012, a full-service, commission brokerage specializing in residential real estate throughout the U.S. 

Under the terms of the partnership, Summit Realty agents have their own corporate branded agent pages on RESAAS, and the firm will also feature a Summit Realty News page.

In one of its most notable achievements last year, RESAAS received approval to include its real estate Q&A app in Microsoft's Window's 8 App Store. 

The company's platform is also available for Apple's (NASDAQ:AAPL) iPhone and for Google's (NASDAQ:GOOG) Android operating system for smartphones.

Listed on the Canadian National Stock Exchange since early 2011, RESAAS has said it intends to apply to inter-list its common shares for trading on a stock exchange in the United States.

The company’s shares closed at 78 cents on January 18.

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November 07 2017

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