27 Oct Stress-Free Real Estate – Podcast Recap
The founder of Keylo inc., Ryan Mracek, discusses stress-free real estate with Mario from Canada’s Podcast. He dives deep into details about the past, present and future of the company in addition to details of his personal and professional journey as an entrepreneur! Take a look inside this exploration of our fearless leader!
The Past of Keylo
We actually started in 2017 and used to be Canada’s largest REALTOR® referral site. We took a lot of data to rank and rate REALTORS® and see which ones were doing better or which ones were doing worse. The question we would always ask is, why? Why is some one better or why are they worse? The perception of why is that if somebody went through and bought or sold a house, what did they feel was a really great experience.
We did that for a couple of years, but we kind of hit a ceiling in that we could never make the process any better ourselves. So if we saw a problem, we couldn’t fix. All we could say was there is good REALTORS® out there and there are bad REALTORS® out there. Please use the good ones. We decided that if we couldn’t fix that, we had to become a brokerage ourselves. We had to switch our model to taking all this data and using it for a purpose. Now we are working out of Edmonton to start a brokerage here, then we will expand back out. Essentially, everything we learned there, we are putting back into our company here.
Keylo's future - Stress-free Real Estate
If you came through this process and it was perfect, what would it look like? In a perfect process, you just go online and you can buy or sell a house with a click. It’s funny how simple it is when you break it down. If you take the perfect world a little further into the details, how do you trust that? How do you actually make stress-free real estate possible and worthy of trust from our consumers? If we gave you that perfect scenario, (because we have the technology to do that) how do trust us that if your are buying or selling that house and its real?
If a buyer goes into a house and asks their REALTOR® “How much is this house worth?”, a common statement you get back is “It is worth, what it is worth to you.”. I hate that statement. It is accurate, but as a consumer it is terrible. The problem is that statement exists because, fundamentally, people feel like homes are a unique aspect. There is something different which each home. Each home isn’t a barrel of oil or a pork belly, or something that is perfectly the same. The moment it is like that, it is worth what is worth to one person. But what if it didn’t have to be? What if there was a way you could have one hundred, or one thousand or ten thousand people telling you, this is what the home is worth?
That is where we come in. So in the perfect version, we are basically taking this unique asset that nobody can figure out… and when I say nobody, you can do appraisals and take a very good educated guess, but its always a guess. We are taking that and putting it into reality by essentially creating a stock market where people put money behind all their guesses. When you get enough money behind every guess, you split the buyers into hundreds of thousands of people and they find the right spot. We use a lot of technology but in the perfect world, that is the key right there. You can buy and sell with a click, but you can trust what you’re buying and selling is accurate.
That takes a little time to build.
Stress-free Real Estate Today
Ryan talks about how in order to get to a point where we can offer a truly stress-free real estate experience, we need to take certain steps toward that goal today. He also discusses a couple examples of some things Keylo has already done to separate us from the crowded sea of useless noise that comes from the real estate industry.
Home Sold Guarentees
Home sold guarantees are probably a little fake, little disingenuous, a little bit of a bait and switch. People like the home sold guarantee, but what are they actually looking for? In order to make these real, genuine and honest we thought… Why don’t we start showing some data that we are selling houses for more? We started doing independent appraisals to show we can actually sell houses for 2% more on average and it’s real. It’s not fake and it’s not rocket science. If you do fundamental things, you can do it a little better.
If I was a consumer, what would I want to see? If the markets going down, why don’t we participate in that? We believe we are better at selling houses and have some data to prove it, so if we sell your house and the value goes down below the value of the appraisal, we will eat some of our commission. We do this because with us, it doesn’t happen as often.
We take what exists right now and make it better. All those steps in the background that you can’t see are very technology heavy. So, we can use data to make ourselves more accurate. Ryan expands on how he uses important information from market trends and our advanced AI algorithm in the Keylo MyHomie Buyers app to create predictions, statistics and expertly curated recommendations to help consumers buy or sell easier – one step closer to a completely seamless and stress-free real estate experience at the click of a button.
Furthermore, Ryan and Mario hash out the nitty gritty about how Ryan set out on the path to developing the first completely stress-free real estate solution. From accounting and construction to a technology based real estate innovation entrepreneur, what does he bring to the Edmonton Real Estate market? Find out the meaning behind Keylo’s name and what it’s like to balance work, family and hobbies as an business owner in Edmonton! Check out the full conversation on Canada’s Podcast or learn more about Keylo in our blog!
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