Second Century Ventures, the National Association of REALTORS®’ (NAR) strategic investment arm, has launched REach® Commercial, its first commercial real estate technology accelerator. Applications for the 2019 REach® Commercial class will be accepted through Mar. 31, 2019, at narreach.com/apply.
“Expanding the REach® accelerator program will further NAR’s vision outlined last summer at the iOi conference in San Francisco, creating a dynamic, competitive real estate market that will help NAR advance our members-first mission for years to come,” says Bob Goldberg, CEO of NAR and president of Second Century Ventures. “REach® Commercial will continue to leverage an exceptional network of real estate industry professionals, strategic partners, investors and mentors to increase the depth of the commercial real estate field.”
With the foundation of the REach® Accelerator curriculum, which has graduated 48 companies that have collectively raised over $350 million in financing during or after program acceptance, and the recent acquisition of select Elmspring accelerator assets, REach® Commercial will offer its 2019 class unparalleled access to the commercial real estate industry. Co-founded by Elmdale Partners’ Adam Freeman and Tom Bretz, the Elmspring accelerator was uniquely incepted to drive innovative concepts in housing, smart home automation, multifamily, hospitality, space arbitrage, smart office planning, construction, and more.
“Venture capital is flowing into real estate technology at an exponential rate, driving innovation in every corner of the industry,” says Mark Birschbach, NAR’s senior vice president of Strategic Business, Innovation & Technology. “REach® Commercial enables us to invest in the entrepreneurs and companies that are revolutionizing the commercial real estate landscape while positioning REALTORS® to be the first to embrace these changing technologies.”
REach® Commercial will offer its 2019 class a robust curriculum including:
- Mentorship from a roster of commercial and housing industry professionals, investors and strategic partners;
- Access to NAR’s Insight Panel, a group of more than 50,000 real estate professionals who provide feedback on user experience, product viability and pricing;
- Education on how to navigate the multitrillion-dollar commercial real estate marketplace with the backing of the nation’s largest trade association and a $5 billion brand;
- Networking opportunities at local, national and international industry events; and
- Significant exposure through NAR’s marketing and communication channels.
Applications for the 2019 REach® Commercial class will be accepted through Mar. 31, 2019, at narreach.com/apply. Selected companies will be announced at the REALTORS® Legislative Meetings & Trade Expo, May 13-18, 2019, in Washington, D.C.
REach® is a unique real estate technology accelerator created by Second Century Ventures, a strategic technology investment fund backed by NAR to leverage the association’s more than 1.3 million members and its unparalleled network of executives within real estate and adjacent industries. The REach® Accelerator is a nine-month program designed to help technology firms launch into the real estate vertical and its adjacent markets by providing education, mentorship and market exposure to one of the world’s largest industries.
For more information, please visit www.narreach.com.
