In 2014, brothers Edi and Etrit Demaj launched Rocket Fiber. With financial backing from Dan Gilbert, coupled with sheer drive and determination, this fiber optic Internet, cable, and phone service provider achieved success. Now the brothers are back in the news, this time for launching an innovative real estate platform.
Working with real estate entrepreneur Justin Tibble, the trio launched a new platform in 2015 that has changed the real estate industry. Edi and Etrit founded Reozom.com, a technology startup based in Michigan. Using this paperless solution, they streamlined the overall buying and selling process.
Rather than a simple website designed to list properties for all of the big real estate players online, the new platform is used to schedule showings, put buyers in contact with sellers, and negotiate price offers. In fact, this new platform is so advanced that it can be used for signing purchase agreements.
During the concept phase, the Demaj brothers tackle their strong belief that the real estate industry was outdated. After brainstorming, they agreed that a central location was the most beneficial solution. Obviously, not everyone who buys or sells a home is going to use Reozom, but for people who enjoy doing things on their own, as well as those who appreciate technology, it is an incredible solution. For millennials, who currently make up the largest group of buyers in the real estate market, technology is a huge attraction.
Initially, the project was more of an experiment, but within a short amount of time, as the outcome exceeded all expectations, the Demaj brothers and Tibble realized they were on to something powerful. Today, this cutting-edge solution works so well that an expansion is already being planned to include states beyond Michigan. In its first year of existence, Reozom was a platform that sold roughly 250 homes, which dollar-wise equates to around $60 million.
The three creators of Reozom wanted a solution that not only made the buying and selling process easier, but was also cost-effective. By paying a $285 one-time fee to use the service, sellers automatically avoid more significant agent commission fees.
Rather than spending money to hire a Michigan real estate agent, people can use Reozom’s flat-fee MLS listing service. As a highly recognized and respected MLS service provider, home sellers choosing this platform can compete with properties listed elsewhere for a fraction of the cost. Reozom also caters to the needs of buyers by facilitating a faster sale. With this, a buyer can schedule a showing without the aid of a realtor.
Along with the primary office maintained in Port Huron, this Michigan technology startup utilizes co-working space in Detroit. Eventually, the company anticipates moving to the downtown Detroit area for daily operations. Having moved from Kosovo to Michigan almost 17 years ago, both Edi and Etrit want to give back to the very place that provided them with so many wonderful opportunities.