Second Century Ventures, the National Association of REALTORSÂ®’ (NAR) strategic investment arm, has launched REachÂ® Commercial, its first commercial real estate technology accelerator. Applications for the 2019 REachÂ®Â Commercial class will be accepted throughÂ Mar. 31, 2019, atÂ narreach.com/apply.
“Expanding the REachÂ® accelerator program will further NAR’s vision outlined last summer at the iOi conference inÂ San Francisco, creating a dynamic, competitive real estate market that will help NAR advance our members-first mission for years to come,” saysÂ Bob Goldberg, CEO of NAR and president of Second Century Ventures. “REachÂ®Â 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 REachÂ® Accelerator curriculum, which has graduated 48 companies that have collectively raised overÂ $350 millionÂ in financing during or after program acceptance, and the recent acquisition of select Elmspring accelerator assets, REachÂ® Commercial will offer its 2019 class unparalleled access to the commercial real estate industry. Co-founded by Elmdale Partners’Â Adam FreemanÂ andÂ Tom Bretz, the Elmspring accelerator was uniquely incepted to drive innovative conceptsÂ 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. “REachÂ® Commercial enables us to invest in the entrepreneurs and companies that are revolutionizing the commercial real estate landscape while positioning REALTORSÂ®Â to be the first to embrace these changing technologies.”
REachÂ® Commercial will offer its 2019 class a robust curriculum including:
- MentorshipÂ 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;
- EducationÂ on how to navigate the multitrillion-dollar commercial real estate marketplace with the backing of the nation’s largest trade association and aÂ $5 billionÂ brand;
- NetworkingÂ opportunities at local, national and international industry events; and
- Significant exposureÂ through NAR’s marketing and communication channels.
Applications for the 2019 REachÂ® Commercial class will be accepted throughÂ Mar. 31, 2019, atÂ narreach.com/apply. Selected companies will be announced at the REALTORSÂ® Legislative Meetings & Trade Expo,Â May 13-18, 2019, inÂ Washington, D.C.
REachÂ® 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 REachÂ®Â 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.