REProphet

Automated bookkeeping for real estate agents, by real estate agents


(

Private Fundraise

This company may be interested in raising funds from accredited investors. You must Request Access to see more information about this company.

Request Access 9

REProphet:
Fast Facts

 

REProphet is a real estate bookkeeping SaaS designed to eradicate production without profitability in real estate, and aggregate new data sets that do not currently exist in the industry.

It’s about time agents started getting the most out of their hard-earned money.  No prior financial knowledge, time, or huge upfront cost is needed to benefit from our platform - loaded with a rich set of bookkeeping features designed specifically for the industry.
 

The Real Issue
in Real Estate


With roughly $30 billion in real estate commissions generated annually, it’s no wonder why most agents are such fast-paced, optimistic, big picture thinkers.

But these same success-breeding qualities actually work against them when it comes to bookkeeping.  Real estate agents just naturally have a tough time managing money; and despite its importance in the industry, 95%+ have no financial tracking in place.

 


Virtually the entire industry is struggling with financial & tax challenges as a result - both professionally and personally.  It also doesn’t help that:

o  Almost all available training & 
    
education for RE agents is production
    or customer service-based  

o  Available bookkeeping solutions are
    overly complicated 

o  They’re focused solely on filing taxes,
    rather than running the business  

o  Trying to do it manually (with little
    experience) is very time consuming 

 

Due to the lack of knowledge, tools, and time at their disposal, most RE professionals are failing to maximize the returns on their hard work.  There’s a pressing need for a better solution that can, at the very least, put basic financial tracking into place.

“Real Estate Agents
Don’t Manage Their Money” 

Gary Keller, Founder of Keller Williams Realty, bestselling author & the
2018 #1 most influential person in Real Estate- Swanepoel 200 2017.

Over $30,000,000,000 exchanges annually as commissionable income, the preponderance of personal financial challenges, debt, and tax liability issues represents nothing short of a pandemic to a market of over 2,000,000 Licensees. 

An Agent’s
Best Friend


Enter REProphet: a simple, automated, web-based bookkeeping platform built for real estate agents, by real estate agents.

It’s about time you started running your real estate business like a business.  REProphet has all the financial tracking tools agents need to turn their efforts into a profit-maximizing machine - without spending a ton of time of forking over a lot of money.

 

REProphet is hard-coded exclusively for the real estate industry - meaning agents don’t need to alter daily behavior to get the most from it.  All they need to do is connect their bank accounts & credit cards, and a whole new world of money management opens up:

o  All transactions are entered into the system in real time;
o  Important financials are automatically tracked;
o  Common industry-specific transactions are automatically categorized;

And so much more!  In fact, after just 45-60 days, REProphet will deliver 80-90% automation on expense categorization for most agents.
 

Driving Industry
Data Aggregation

 

Industry case studies show that agents are reinvesting more than 40% of the $30 billion in annual real estate commissions back into their business.  Because the real estate sales industry is an independent contractor industry there is no means of determining where that $12 billion+ is reinvested or how effective those investments are.  
 

At scale, REProphet has the opportunity to build valuable data sets that do not currently exist in the industry.  These data sets can be useful to agents, the industry, and all 3rd parties serving the industry, while creating additional revenue streams for REProphet.

Inside
REProphet

 

A variety of back end technologies come together to produce this unmatched front end benefit and user-friendliness - starting with PHP, JavaScript, & MySQL as a base programming language foundation.

From there, we added in top platforms like Selenium (browser automation), Infusionsoft (CRM), Stripe (payments), and many others to send functionality through the roof.

 

REProphet has been crafted to operate within any agent’s unique situation through APIs that seamlessly integrate - with secure connections - to all the top financial institutions.  Here are just a handful more of the many additional ways our solution delivers this:

o  2-click budget creation based on the agent’s sales volume & industry case
     studies 

o  A red light/green light approach to profit & loss that makes the agent
     aware of any above or below budget instances for a category, in real time 

o  Categorization of unique transactions into profit & loss statements in just
     3 clicks, while remembering for auto-categorization next time 

 


o  Seamless cost of sale tracking on all income
o  Easy separation of personal & business expenses (i.e. tracking “owner draws”)
Tracks estimated tax liability, with simple exporting for easy
filing
Auto-alerts if user outspends their after-tax income
o  ROI tracking for all marketing & lead generation expenses, allowing users to
    optimize marketing effectiveness 

 


o  Simple assignment of income to lead sources
o  Additional software for in-platform communications including VoIP and
     screen- share meetings 
o  A vast library of training & educational videos that’s accessible 24/7


 

Gaining
Traction

Check out some accomplishments we’re most proud of since first launching REProphet to paid users in 2016:

Sold roughly
1,200 accounts
in just 18 months after launch.

Acquired
904 new users
in 2017 alone.

Generated almost
$200,000 in revenue in
2016 and 2017 combined.

Consistently convert 15-20%+
of audience during our live 5-8 minute presentations.

Have secured a
provisional patent.

Have
great video testimonials and many 5-star reviews
on Facebook.

Multiple
partnerships
in place with a coach, trainer, and podcaster in the industry - and one pending with a major brokerage brand to integrate REProphet with their agents.

For more information on REProphet and how they plan to create continued shareholder value, please request access to the Business Plan portion of this profile!

Our
Visionaries

REProphet was conceptualized based on our Co-Founders’ experiences, who witnessed virtually all of their real estate colleagues struggle financially during their 2+ decades in the industry.  They decided to address the issue head-on - and the rest is now history.

Matt Erdmann | Co-Founder | Quickly rose to a leadership role with Keller Williams after entering the industry in 2005.  In 2012 he stepped in as Operating Principal for a struggling office, growing it to a top-20 location nationally that was featured on the Real Trends Power Broker Top 500 report 2 years running.

Matthew Miale | Co-Founder | Got his start in real estate in 2006 and has been involved in many facets since - including investing, property management, and residential sales.  His current 9-person team is on pace to close roughly $60M in sales volume & 300 units in 2018 - growing 40% annually over the past 5 years.

Our two leaders also receive valuable support from operational & client care specialist Tashia Small and onboarding specialist Karen Hewitt.

The Business Plan area is locked. You must Request Access to this company to see more information including the Business Plan.


Request Access

N

No updates yet.




%

No backers yet.




Quick Signup TBD

You must have an account to do this!


the startups.com platform

Copyright © 2019 Startups.com. All rights reserved.

Fundable is a software as a service funding platform. Fundable is not a registered broker-dealer and does not offer investment advice or advise on the raising of capital through securities offerings. Fundable does not recommend or otherwise suggest that any investor make an investment in a particular company, or that any company offer securities to a particular investor. Fundable takes no part in the negotiation or execution of transactions for the purchase or sale of securities, and at no time has possession of funds or securities. No securities transactions are executed or negotiated on or through the Fundable platform. Fundable receives no compensation in connection with the purchase or sale of securities.