Bravo's Josh Altman launches home sales marketplace Redy in Dallas and 4 other cities » Dallas Innovates

On the left is Redy co-founder Josh Altman, and on the right is Chief Strategy Officer Shelley Coffini. [Photos: Redy]

Dallas is one of five markets where Redy’s launch has been announced, and Redy says it’s the only marketplace where home sellers are rewarded for choosing the agent who best aligns with their sales goals — the others are Atlanta, Orlando, Phoenix and San Diego.

“For the first time, sellers are compensated cash for choosing their agent, which gives the agent a direct hand in the sale,” Reddy co-founder Josh Altman, a real estate agent and star of Bravo’s “Million Dollar Listing,” said in a statement.

“Every agent has the opportunity to own a local seller’s listing,” he added. “This allows agents to own the local market in which they operate and level the playing field for listings. When you own a local seller’s listing, you own the local market.”

Reddy says its two-way platform benefits both parties: Real estate agents can compete and offer the best terms for the properties they want, while sellers can choose from among their trusted agents who can bring them closer to the ideal sales deal.

That means sellers have control over the entire process, and real estate agents have control over which properties they put their energy and money into, changing how both parties succeed, Reddy said.

Aiming to revolutionize the home sales market

Altman’s startup says home sellers and real estate agents are already seeing how Redy has revolutionized the market. Home sellers who use Redy “sell their homes at an average price 12 percent above market value and pay their real estate agents competitive commissions,” according to the company.

Reddy says more than 5,000 homes have been listed so far, with sellers receiving an average cash bonus of $2,357 up front.

Reddy said that through his company’s platform, “tens of billions of dollars” that real estate agents would traditionally spend buying leads through big companies like Google, Facebook and Zillow will go directly into the pockets of home sellers.

Sellers choose which agent they want to interact with and have full control over when that interaction takes place. Reddy said home sellers can avoid countless unsolicited offers and simply list their home to receive a personalized offer from an agent with a cash reward.

The company said it does not share a seller’s personal, property or contact information until they select an agent.

Reality TV and the Destruction of Residential Real Estate

Altman, co-founder of Reddy, is a real estate agent/investor and reality TV star who appears with his wife Heather on Bravo’s “Million Dollar Listing” and E!’s “Keeping Up with the Kardashians.”

Altman is using his TV fame to further disrupt the traditional 6 percent commission real estate sales model, already eroded by a settlement with the National Association of Realtors.

In March, NAR reached an agreement with the plaintiffs that, if approved by the court, would end lawsuits brought on behalf of home sellers related to agent commissions.

The settlement also includes several changes to real estate transactions, but consumers will still have choices regarding real estate services. These changes in practices will go into effect on Aug. 17, according to the settlement.

“At the heart of the settlement with NAR is the critical revelation that the real estate industry has systematically disempowered consumers,” Shelley Coffini, Reddy’s chief strategy officer, said in a statement.

She said Reddy was “revolutionizing the real estate market by transforming residential properties into valuable assets,” adding that the company’s goal was to “empower home sellers with unprecedented control, fair competition and complete transparency.”

The lady’s purpose is to expose the seller as being in control.

“Our mission is to give homeowners complete control over their property information and the tools to maximize its value,” Coffini said.

Also benefiting are agents who, according to NAR data, only convert 1 in 100 leads they get from big name ads.

Coffini sums up: “At Lady, we empower agents to secure properties rather than chasing leads.”