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Second Century Ventures Announces 17 Companies for 2022 REACH Scale-up Program
Second Century Ventures, the strategic investment arm of the National Association of Realtors and the most active global real estate technology fund, announced today the acceptance of 17 companies to the 2022 REACH and REACH Commercial programs. Launched in 2013, this marks the tenth cohort focused on solutions for the residential sector and the fourth cohort dedicated to scaling solutions for commercial real estate. "The innovative companies that have come out of the REACH program over the years have had a dramatic effect on the real estate landscape," said SCV President and NAR CEO Bob Goldberg. "The influence of technology in this industry is undeniable and the entrepreneurs in REACH continue to redefine our understanding of what is achievable today. We are so excited to work hand-in-hand with these pioneering companies to ensure that Realtors® remain at the forefront of the real estate industry." Companies selected for the 2022 program represent a diverse range of solutions across the real estate ecosystem, including innovations in inspection, appraisal, fractional property ownership, lead generation, due diligence, underwriting and tenant retention, among others. Collectively, these companies have raised more than $200 million in funding and represent a combined valuation of $1.4 billion. "This year marks multiple significant milestones in NAR and Second Century Ventures' legacy of innovation," said Dave Garland, managing partner, Second Century Ventures. "Not only are we celebrating the depth of a 180-plus company strong portfolio and the continued expansion of the REACH program, but we are also scaling some of the most ground-breaking technologies the industry has witnessed to date. The 2022 NAR REACH and REACH commercial programs represent the top new companies in property technology, whose teams are as talented as the innovation they deliver." Companies accepted to the 2022 REACH and REACH Commercial programs are as follows: REACH 2022 Courted: Professional networking platform empowering agents to make better data-driven marketing, hiring and referral decisions. Fractional: Collaborative, full-service, community-driven real estate investing marketplace. Inspectify: Applies the latest technology to make inspectors more proficient and effective. leadPops: All-in-one solution to drive traffic, boost SEO and increase both volume and quality of leads. PLACE: All-in-one platform for top producers delivering unparalleled consumer experiences. Perchwell: Unifies real-time market analysis, listing data, seamless client collaboration and reporting. Reggora: Appraisal management platform delivering unprecedented efficiency and agility. Revive: Brings certainty to the renovation experience to homeowners across the nation. REACH Commercial 2022 Arx City: Underwriting and market intelligence platform to source and evaluate optimal development projects. B-Line: Facility management and emergency alert platform empowering owners and occupants safe return to work. CREtelligent: Innovative due diligence solutions, analytics, and professional insights for commercial real estate acquisitions. LeaseUp: Collaborative commercial real estate platform for brokers to manage projects, create polished output for clients and centralize communication. Matrix Rental Solutions: Universal rental application platform built to deliver efficiency and inclusivity for renters and landlords. SPACKLE: Connects service providers with commercial occupiers to manage and fulfill maintenance and improvement requests. Stake: Empowers renters' savings journey through cash back and financial tips, enhancing tenant retention and financial stability. STRATAFOLIO: Streamlined commercial property management platform to save time, increase profits and reduce manual work. WhoseYourLandlord: Turns resident reviews into operational insights helping home providers increase resident retention and satisfaction. The REACH program is led by Executive Director Kia Nejatian, and the REACH Commercial program is led by Executive Director Bob Gillespie. REACH offers a robust curriculum including education, mentorship, exclusive networking opportunities and significant exposure to the global real estate marketplace. To learn more about REACH and how you can get involved, visit nar-reach.com.
4 Companies Compete in Matterport's Space Jam
Matterport recently held a competition among technology vendors who are developing software that extends the Matterport scan for real estate marketing. The Space Jam competition featured four companies who leverage the Matterport software development toolkit (SDK) to deliver additional features around a Matterport scan. Matterport, now a publicly traded company, continues its growth both domestically and internationally as the leader in property scanning. The company is trying to differentiate itself from virtual tours by adopting the term "digital twin." Matterport creates an exact digital replica. Before we jump into the companies who were in competition at Space Jam, you should know that Matterport itself added some great new editing tools. The first tool is Notes. It allows agents to leave notes in the room that provide additional information to the viewer. A measurement tool and a blur tool have also been added. Matterport Partner integrations Although only four companies were selected for the Space Jam, Matterport has over 100 partners. This adds a lot of value to the core Matterport digital twin and dollhouse offering. If you are investing in Matterport scans, be sure to look into the many applications that extend or enhance the value of that investment. Captur3d: Steven Kounnas – Winner of the Space Jam Captur3ed – pronounced "captured" – won the Space Jam. Many of these companies have similar functionality, but Captur3ed seemed to offer the best user experience. Captur3d creates an entire marketing suite for your Matterport tour: post-production editing, website, floorplan, location based audio and video—embed agent or voice overview of room. Virtually staged furniture, search engine optimization and meta data, photo retouching. This is a company that you definitely want to check out. Agent Relay: Dan Cattermole Agent Relay was the first presenter and probably in second place in Space Jam. The keynote of Agent Relay is the ability to co-view your Matterport scan with a client like a Zoom call. They have also layered a variety of lead conversion tools and analytic tools. Agents can show property remotely in an instant and the platform comes standard with a single property website. Treedis Treedis was similar to the others above, offering live video chat like Agent Relay and tours that are branded. Agents can virtually stage properties from a library of furniture and fixtures, and offer clients virtual showings. VRPM: Mike Merron VRPM has most of the features listed above. Overall, it seemed like this company specializes in providing excellent designers to do the virtual staging for you. Specifically, they showed many examples where they took a framed, empty spaced and brought it to life with multiple design concepts. This may be the best tool for commercial real estate or an empty house. Their superpower is in design.
RPR's 2019 Product Highlights
Everything You Need to Know About ISAs (Licensing)
This post comes to us from the BoomTown blog: So you've decided to switch over to the ISA (Inside Sales Agent) model. Kudos to you! I bet you have some questions about the specifics of it all. Our own BoomTown users have also been asking some very good questions regarding ISAs. I've gathered some insights (from our awesome BoomTown owners!) on the most frequently asked questions in our forum. Should ISAs Be Licensed? Agents and Brokers Who Say No Although ISAs are typically licensed, there are some real estate agents who prefer their ISAs to be unlicensed. Their reasoning is that often times, the consumer just wants a quick answer to a question and then they will be off the phone. If the ISA is not licensed, they have a good reason for transferring the lead to a buyers agent who is better qualified to not only answer their question, but also to steer the conversation toward closing a deal. A particular broker shared that he would rather have the agents qualify the leads themselves, instead of the ISA. This broker felt that this way the consumer was more likely to step into the physical office, where the agent has a better opportunity to "sell" their company, and in turn, to sell homes.