Shares in RESAAS Services' (CNSX:RSS) are rising, with investors pushing the stock to a new 52-week high on Wednesday as they catch on to the growing popularity of the company's social network designed for real estate professionals.
Its stock surged more than 15% today on the Canadian National Stock Exchange, rising to $1.40 - a new 52-week high, extending year-to-date gains to over 55.5%.
The platform, designed to allow real-time updating of property listings as well as the ability to sync with social media sites such as Facebook (NASDAQ:FB) and Twitter, has taken off in North America, where RESAAS has added a broker several times a month across Canada and the U.S. since opening for business at the start of the year.
The real estate social network is designed specifically for the real estate professional to connect and communicate in real-time, allowing for seamless communication between real estate professionals on the go -- including photos to be shared, news to be posted, and realtors to connect with other real estate professionals on the RESAAS platform. The app automatically generates real estate workflow into social content known as ‘real estate broadcasts’ that is then instantly pushed out to theRESAAS platform and other social networks.
Just last week, the company added Coldwell Banker West Shell, part of the largest franchised brokerage in the Coldwell Banker system, to its platform. Coldwell Banker, a leading real estate agency in North America, has more than 3,500 offices and over 105,000 sales associates. Coldwell Banker West Shell has seven offices in Ohio and one in Northern Kentucky, and over 26,700 real estate listings, according to RESAAS' statement.
Other recent additions include Century 21 M&M and Associates, ranked as the number one Century 21 office worldwide, with the agency boasting over 28 offices throughout northern California.
RESAAS has also been selected to digitally power several high-profile industry affairs of late, including partnering with RE/MAX of New England for the Fall Agent Conference this year.
The company, whose signature app won a spot in the list of ‘five best apps to help you manage your business better’ published by industry bible Realtor Magazine, recently raised $2 million to bring its social networking platform into Europe. The famed tech company was also named among the top 50 real estate tech solutions by HousingWire.
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