As innovations increase in the real estate space, the National Association of REALTORS® (NAR) continues to be intentional about focusing on technologies that can transform the real estate industry and help REALTORS® be more successful.
The recently announced 2020 REACH class is one of those efforts, with eight companies that offer innovation in transaction management, insurance, home and small business security, digital marketing and more.
The REACH technology accelerator was developed by Second Century Ventures, which is NAR’s investment arm. Since 2013, the accelerator’s team has been culling through companies each year to select those with the potential to enrich or disrupt the real estate industry.
“NAR has spent decades exploring and investing in the technological innovations we believe will define the future of America’s real estate market—investments that appear even more critical in the face of the COVID-19 pandemic,” says Bob Goldberg, NAR’s CEO and president of Second Century Ventures.
Two of the companies, Earnnest and Modus, both offer secure, electronic escrow platforms. Transactly offers a simple, streamlined platform for real estate professionals and transaction coordinators, while RealX touts itself as America’s first online property rights exchange.
Kangaroo is a company that offers affordable, DIY smart home and small business security solutions, while Ylopo focuses on end-to-end, cross platform, digital marketing solutions. PunchList touts itself as a one-stop-solution for completing repairs after a home inspection, while another company selected, CartoFront, is a software-as-service (SaaS) based flood insurance tool for REALTORS®.
Second Century Ventures also announced eight companies selected for its 2020 REACH Commercial program, which focuses on innovation for the commercial sector.
EPR2 focuses on clean energy solutions for commercial property owners, while Pear Chef is a company that offers private chef and culinary services for the multi-family housing market. Insurance and portfolio management for small-to-medium commercial real estate investors and owners is the focus of Obie, while Real Time Risk Solutions is a mobile risk management platform with advanced analytics.
Dealius is an integrated, web-based commercial real estate brokerage management platform, while Dealius Capital offers working capital funding for commercial real estate brokerage companies for their lease commission receivables. Leasera is a fully integrated property management platform and on-demand services marketplace for multi-family and single-family portfolios, while tenants and brokers can collaborate on Occupier’s deal management, lease accounting and lease portfolio management software.
“While we look at this crisis as an opportunity to grow and adapt to the markets of the future, we know it is also a time when NAR’s commitment to equipping REALTORS® with the technology they need to survive in a rapidly evolving market is more important than ever,” Goldberg adds. “The REACH program allows NAR to deliver radical and actionable innovation in all aspects of real estate.”
As members of the REACH class, participants will have access to education, mentorship, networking and significant exposure to the real estate industry. Brokers and agents can get involved by joining the REACH Insight Panel, which has expanded to allow panelists to participate on a global scale. Join the Insight Panel at nar-reach.com/realtors.
Learn more about the 2020 REACH and REACH Commercial programs at nar-reach.com. While you’re there, take a look at the current lineup of innovative companies in the REACH Australia program, and be on the lookout as REACH Canada and REACH UK open applications later this year for their inaugural classes.