RESAAS Launches Groundbreaking Payment System for the Real Estate Industry

RESAAS Pay Introduces Industry's First KYC and AML Compliant Broker-to-Broker Payment System, Enabling Cross-Border and Multi-Currency Transactions

VANCOUVER, BC, March 23, 2022 /CNW/ - RESAAS Services Inc. (TSXV: RSS) (OTCQB: RSASF), ("RESAAS" or the "Company"), a technology platform for the real estate industry, today announced the launch of RESAAS Pay, a first-of-its-kind digital payment system for Real Estate Brokerages, Agents and REALTORS®.

RESAAS Pay streamlines the process for Real Estate Agents to send and receive referrals, widely considered to be the highest quality of leads in the real estate marketplace, by facilitating a peer-to-peer payment between Brokerages upon the transactions' closing. The new payment infrastructure augments RESAAS' best-in-class referral platform, which is established across the real estate industry as the best-in-class medium for facilitating Brokerage-agnostic referrals between Agents.

RESAAS provides unparalleled insight into what has traditionally been a pain-point in the industry by enabling Brokerages to track their Agents' referrals end-to-end. As the first payment system to be fully compliant with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations, RESAAS Pay introduces an innovative solution that meets money transmission regulations and enables cross-border and multi-currency transactions.

"RESAAS Pay delivers the final step in fully digitizing the entire referral experience," said Tom Rossiter, CEO of RESAAS. "The RESAAS referral solution has won multiple industry awards for its distinctive ability to facilitate referral business among REALTORS® on a global scale. The industry has long anticipated a more efficient method for sending and receiving referral fee commissions online through their Brokerages. With the launch of RESAAS Pay, RESAAS Agents are now instantly able to do so. Being the first to acquire the regulatory approvals needed to deploy this transaction solution makes RESAAS uniquely positioned, not only as a vehicle through which funds can move, but as a fundamental connector within the Real Estate industry."

RESAAS has over 450,000 REALTORS® and Brokers located in the United States alone. Based on recent unique RESAAS real estate data, Real Estate Agents receive an average of $12,500 per awarded referral on RESAAS. RESAAS Agents are now able to take advantage of RESAAS Pay to streamline their business payments and increase their referral income. RESAAS charges a transaction fee for each transfer, with additional incentives to RESAAS Agents belonging to one of RESAAS' Paid-for "Premium" and "Ultimate" Subscriptions.

About RESAAS Services Inc.

RESAAS is a technology platform that enables real estate brokerages, franchises and associations to bring real-time communication, new business opportunities and unique data to their agents on a global basis.
Visit www.resaas.com for more information.

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.

SOURCE RESAAS SERVICES INC.

Investor Relations: Greg Falesnik or Brooks Hamilton, MZ Group - MZ North America, [phone], [email protected]; For further information contact: Don Mosher, RESAAS Services Inc., [phone], [email protected]