Pacaso is tailored for individuals seeking fractional ownership of luxury second homes with comprehensive management services. Real Broker is a real estate brokerage providing a platform and tools for agents to assist clients in buying, selling, and managing properties. The choice depends on whether one is looking for co-ownership and property management of a second home (Pacaso) or a real estate brokerage service (Real Broker).
| Attribute | Pacaso | Real Broker |
|---|---|---|
| Fractional Ownership Options | Shares from 1/8 to 1/2 in a single property | Not available |
| Geographic Market Coverage | Over 35 top second home destinations around the world, including the U.S., Spain, the United Kingdom, Mexico and Italy | Available in all 50 states in the United States, Washington D.C., and 4 provinces in Canada. |
| Property Management Services | Comprehensive services including maintenance, repairs, bill payments, and scheduling. Dedicated local Home Manager oversees recurring services. Manages financial aspects, including paying utilities, insurance, and property taxes. | Real Realty, Inc. provides property management services, including residential, condominium, and commercial property management. They also offer investment property rehab, property stabilization, brokerage services, and budgeting operations. OCF Realty, based in Philadelphia, also provides property management and leasing services. |
| Resale Assistance | Facilitates resale process. Owners can list their share for sale through Pacaso's platform after a holding period, typically 12 months. Provides comparative market analysis and assists in finding a buyer. | Real Broker provides a wide range of real estate services and their real estate professionals can assist with the home buying and selling process. |
| Home Maintenance Included | Included in property management services, covering cleaning and maintenance. Locally based maintenance technicians. | Not available |
| Financing Options for Co-ownership | Buyers can finance up to 70% of their purchase. Pacaso's banking partners offer competitive loan rates. | Not available |
| Technology Platform for Scheduling and Management | Proprietary SmartStay system allows owners to book stays fairly and easily. The Pacaso app helps streamline the scheduling process. | REAL Broker uses a technology platform called reZEN, which is available as a desktop and mobile app. It allows agents to manage transactions, access training, track stock and revenue share, and connect with their team. Lofty, formerly known as Chime, is a CRM and website platform that Real agents can access for a reduced monthly rate. |
| Legal Structure of Co-ownership | Limited Liability Companies (LLCs) to manage co-ownership. Each property is transferred into a dedicated LLC. | Not available |
| Upfront Costs and Fees | Down payment (minimum 30%) and a service fee, around 12% of the share purchase price. | REAL Broker has a $249 sign-up fee. They also have an annual fee of $750, which is taken out of the first three transactions of the year at $250 each. |
| Monthly Operating Expenses | Recurring monthly fees cover property management, maintenance, utilities, taxes, and a reserve fund. Pacaso budgets for owner expenses annually and divides the total into 12 monthly payments. | REAL Broker does not have monthly fees. However, agents have the option to sign up for Chime (Lofty) for $40 per month. |
| Rental Income Potential | Rentals to third parties are generally prohibited. | Real estate agents can generate rental income through leasing commissions and exploring revenue streams, such as property management fees, lease renewal commissions, and referral fees. |
| Exit Strategy and Liquidity | Owners can sell their share after a minimum holding period. Each owner has independent control over the sale of their share. | Not available |