ShareIn mid-April, NAR’s Second Century Ventures announced the 2017 class of REach®, a technology accelerator helping launch companies into real estate and its adjacent verticals.
This year’s class features a broad range of companies with products and services that can benefit you by generating increased business, boosting exposure, and creating greater efficiencies.
NAR members have the opportunity to directly affect these companies’ products for the better by providing comments through participation on the REach® Insight Panel (see sidebar). “REach® has been successful primarily because of feedback the companies get from our members,” according to Mark Birschbach, Managing Director for Second Century Ventures & REach®. “The companies have innovative technology and our members help them shape it for our industry - a win-win for both parties.”
The seven companies include both seed stage and well-capitalized startups backed by world-renowned investors. Here’s a snapshot of this year’s companies and how they can help you in business and in your home.
CENTRIQ
This app solves the problem of transferring home organization, repair, and maintenance knowledge from the seller to the buyer while keeping real estate professionals connected to their clients long after the transaction is over.
HOW THIS HELPS YOU:
If you’re a property manager – whether managing your own investment or multiple properties – Centriq can save both time and money. By simply snapping a photo, Centriq pulls all relative content (owner’s manuals, parts and supplies, how-to videos, instructions, and recall information) into the app for easy access. It also stores receipts, warranty information, and work order history, giving you a complete view of each unit.
HOUSECANARY
The most complete and accurate source of residential valuations and analytics for every block and property in the U.S., used by agents to become differentiated, trusted advisors. HouseCanary indices predict prices for 100 million homes, 18,000 zip codes, and 3 million census blocks with unmatched accuracy.
HOW THIS HELPS YOU:
From retailers looking to place their next 100 stores on the right block to investors searching for their next market, HouseCanary can accelerate decision making and due diligence.
NOTARIZE
A leading remote electronic notary service, allowing anyone to legally notarize a document from their mobile device or desktop 24-hours a day, seven days a week. Notarize offers a compliant and efficient closing process while reducing errors and operational costs.
HOW THIS HELPS YOU:
Commercial brokers can now utilize one central signing tool for their transactions without having to seek out a notary or coordinate document signing. This process eliminates the need for expensive document mailings and allows all parties to execute via a signing room utilizing audio/video communications.
OCCLY
Occly Blinc is a portable 2-in-1 alarm solution that helps keep real estate professionals safe and properties secure. Its unique features include a quick-trigger alarm button and four cameras that automatically capture images of your surroundings with real-time transfer to the cloud.
HOW THIS HELPS YOU:
Safety is an issue for any real estate professional. Whether your property showings include a large industrial warehouse or a piece of land in a rural area – this wearable solution can help protect you when out on a tour. It also can easily be used as a low-cost security solution for vacant properties, another plus.
PEARL CERTIFICATION
Pearl helps property owners capture value from their energy-related improvements, such as solar, heating and cooling, new insulation, appliances, and more.
HOW THIS HELPS YOU:
By helping an owner understand what major features of their asset are in need of maintenance, improvement, or replacement – and when – you bring added value to your client relationship and their property. Plus, a higher performing asset is worth more and rents for more – another perk.
RELOLA
Unlocks real estate professionals’ insider knowledge with tools that digitize, amplify, and market their everyday tasks. A new product, the Reloladex (launching in May), is a resource of professionally validated property service providers.
HOW THIS HELPS YOU:
Consider the benefit of adding your vendor network (commercial lenders, maintenance, painters, HVAC pros, etc) to the Reloladex, and sharing on your business website. Creating a Reloladex is an easy way to provide value long after the transaction is complete – it sends a message to clients you are a trusted resource.
TRUSTED MAIL
TrustedMail plugs into all popular email systems to sign and encrypt email and attachments with the biometrics of the sender, protecting against wire fraud and email spoofing.
HOW THIS HELPS YOU:
Commercial real estate transactions are particularly prone to email phishing and wire fraud. TrustedMail saves you time as it makes protecting the whole real estate transaction as fast as taking a selfie. The monthly subscription costs about the same as a latte from your favorite coffee shop. Is it worthwhile to give up a little latte for a “lotta” security? We think it’s worth consideration.
TAKE A DEEPER DIVE
Go to www.nar.realtor/reach to read more about these companies, access their websites, and apply to be part of the REach® Insight Panel.