The National Association of Realtors®‘ (NAR) strategic investment arm, Second Century Ventures, announced seven organizations chosen for the 2017 class of REach®, its growth technology accelerator program.
The seven products, however, offer a glimpse into the future of real estate, and the ways that technology will eventually make the process faster and easier for agents, buyers and sellers.
“As technology continues to transform real estate, NAR is leading the charge through its innovative Second Century Ventures,” says Dale Stinton, president of SCV and NAR’s CEO.
The seven companies range from seed stage to well-capitalized startups; in aggregate, the class has raised over $50 million in previous financings and total valuation exceeds $350 million. The REach program’s goal is to move these organizations rapidly forward beyond their initial successes through education, mentorship and market exposure.
Companies chosen for 2017 class
- Centriq: The app helps transfer home organization, repair and maintenance knowledge from a seller to a buyer while keeping real estate professionals connected to clients after the transaction is over
- HouseCanary: The “most complete and accurate source of residential valuations and analytics” by block and property helps agents become differentiated, trusted advisors to their clients
- Notarize: A remote electronic notary service that allows anyone to legally notarize a document from their mobile device or desktop 24-hours per day, seven days per week
- Occly: A portable 2-in-1 alarm solution that keeps real estate professionals safe and properties secure
- Pearl Certification: Certifies homes with features that contribute to its comfort, energy performance, indoor air quality and value
- Relola: Unlocks real estate professionals’ insider knowledge with tools that digitize, amplify and market their everyday tasks
- Trusted Mail: Protects against wire fraud and email spoofing using facial-biometrics to sign and encrypt email and attachments
“The future of our industry increasingly depends on fast, seamless adoption of technology that benefits home buyers, sellers and investors at every step of a real estate transaction, from prospecting to closing,” says Mark Birschbach, managing director of Second Century Ventures and REach.
Hundreds of companies applied to REach this year. The seven chosen companies have “solid business models, executable business plans and significant potential to impact the real estate space and beyond.”
© 2017 Florida Realtors