RESAAS Enters into Partnership with Rocket Mortgage Canada

Rhea-AI Summary

RESAAS Services Inc. (TSXV: RSS, OTCQB: RSASF) announced a preliminary partnership with Rocket Mortgage Canada on April 18, 2023. The partnership aims to enhance the real estate experience by providing agents with a simplified mortgage process. Real estate agents utilizing RESAAS's platform will be able to offer clients access to pre-qualification for mortgage products and competitive rates. This collaboration supports RESAAS's goal to improve referral fees for agents, stemming from exclusive data indicating higher fees for pre-approved clients. The one-year agreement, effective March 1, 2023, will involve revenue sharing from new mortgages, renewals, and refinances. Rocket Mortgage Canada aims to modernize the mortgage process, connecting with RESAAS's technology-focused solutions to enhance client interactions.

Positive

• Partnership with Rocket Mortgage Canada offers a streamlined mortgage process for agents and their clients.
• RESAAS agents can quickly pre-qualify clients for competitive mortgage products.
• Revenue sharing agreement may enhance financial performance from new mortgage transactions.

Negative

• None.

VANCOUVER, BC, April 18, 2023 /PRNewswire/ - RESAAS Services Inc. (TSXV: RSS) (OTCQB: RSASF), ("RESAAS" or the "Company"), a leading provider of technology solutions for the Real Estate Industry, has announced a preliminary partnership with Rocket Mortgage Canada.

Rocket Mortgage Canada is a digital mortgage broker, using technology to deliver a revolutionized mortgage process. The partnership introduces a unique way for real estate agents to add value to clients by offering access to a simplified mortgage process through Rocket Mortgage Canada.

"Exclusive real estate data gathered by RESAAS shows real estate agents generate higher referral fees when referring clients that are pre-approved for a mortgage," said Tom Rossiter, CEO of RESAAS. "RESAAS has selected Rocket Mortgage Canada because its digital experience is complimentary with RESAAS's technology-forward solution. Our goal is simple: to enable RESAAS agents to pre-qualify their clients quickly for the best mortgage products and lowest rates available."

"As a fintech company, Rocket Mortgage Canada understands the value of a digital experience to help simplify the mortgage process for both clients and their real estate agents," said Hash Aboulhosn, President of Rocket Mortgage Canada. "That's why this partnership with RESAAS makes sense – their technology for the real estate professional provides yet another digital touchpoint on our way toward fully digitizing the mortgage process."

Under the terms of the one-year agreement signed on March 1, 2023, Rocket Mortgage Canada and RESAAS will share the revenue generated via the partnership from all new mortgages, mortgage renewals and refinances.

About Rocket Mortgage Canada

Rocket Mortgage Canada is a digital mortgage broker and a part of Rocket Companies (NYSE: RKT). Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer technology brands including Rocket Mortgage, LLC, one of the largest mortgage lenders in the U.S. Founded in 2020, Rocket Mortgage Canada aims to transform and modernize the mortgage experience in Canada by providing a streamlined process for individuals looking to purchase a home or refinance their mortgage. Rocket Mortgage Canada's mortgage agents aim to deliver the highest level of client service. For more information, or to apply for a mortgage, visit RocketMortgage.ca.

About RESAAS Services Inc.

RESAAS is an award-winning global technology platform for the real estate industry. With over 500,000 real estate agents utilizing RESAAS in 160 countries, RESAAS enables real-time industry communication, delivers new business opportunities and captures unique real estate data. Some of real estate's biggest brands leverage RESAAS to provide business intelligence to real estate brokerages, franchises and associations. For more information, please visit https://www.resaas.com.

Disclaimer

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from RESAAS Services Inc.'s expectations and projections.

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SOURCE RESAAS SERVICES INC.

FAQ

What is the partnership between RESAAS and Rocket Mortgage Canada about?

RESAAS and Rocket Mortgage Canada have partnered to provide real estate agents with a simplified mortgage process, enhancing client services.

When was the partnership between RESAAS and Rocket Mortgage Canada announced?

The partnership was announced on April 18, 2023.

What are the financial terms of the RESAAS and Rocket Mortgage Canada partnership?

Under the one-year agreement, revenue generated from new mortgages, renewals, and refinances will be shared between RESAAS and Rocket Mortgage Canada.

How does the partnership benefit real estate agents?

Real estate agents can offer clients improved mortgage pre-qualification and access to better rates, potentially increasing referral fees.

What is the significance of the April 18, 2023 announcement for RESAAS investors?

The announcement highlights a strategic partnership that may drive additional revenue and improve service offerings, benefiting investors.