The National Association of Realtors recently announced the eight startups chosen for its technology accelerator program, the 2015 REach class. The chosen firms will receive expert guidance about how to better server real estate professionals while increasing their exposure in the U.S. real estate community.
There were literally hundreds of applicants for this year’s program – more than twice as many as last year in fact – and the chosen eight offer a comprehensive range of services from online notarization to investment consultation services. Here’s a quick look at each of the eight startups and exactly what they have to offer:
Asset Avenue is an online lending program that connects borrowers and brokers to real estate investors by pooling money from those investors. Instead of selling real estate equity, Asset Avenue offers a debt repayment system, and loans are approved only after the company’s staff vets the investors to ensure they’re dedicated to the industry. The company claims to be more transparent in the lending process than a regulated financial institution and says users have can fund loans more quickly and with more flexibility than what banks can offer.
August Home is a technology company that builds products that allow users to control access to homes remotely. Its Smart Lock system includes a virtual key built into a mobile app letting home owners choose specific people who can enter their home at designated times. Real estate agents can also save time by setting up access to specified workers for appointments. Property managers may spend less time replacing the lost keys of their tenants.
BoostUp is a down-payment savings platform to help consumers prepare for large purchases such as homes and cars by letting them solicit family, friends, and even companies for contributions and matching funds. Though the service can be used by anyone making a large purchase, the company is especially attuned to the needs of first-time home buyers who often have trouble making large payments. Agents and brokers can brand their offices with BoostUp to offer home buyers a resource for their savings.
Guard Llama is focused on improving personal safety. The company offers a small device that connects to your smartphone through Bluetooth technology and can instantly connect people to a 9-1-1 dispatcher. The hand-held device sends a user’s GPS and profile information with the push of a button. The Guard Llama is meant to make real estate agents feel safe during risky situations and to encourage them to make safety a part of their everyday routine.
Loop and Tie is an online service that makes gift giving on the job a snap. Agents can choose a closing gift, or brokers can reward staff members with such items as chocolates, picture frames, or kitchenware. Loop and Tie makes it easier for agents and brokers to give gifts by allowing the gift receiver to choose between a handful of items so they’re not stuck with a gift they’ll never use. Agents often have memorable clients, but finding the perfect item can be a timely process.
Notary Cam is an online notarization service that allows users to upload a document, connect to a notary using a webcam, and have the document signed after the user is verified. The company lets real estate agents secure a deal online within minutes.
Pro.com, which was profiled recently by Realty Biz News contributor Brian Kline, is a service that provides pricing for home improvement projects and helps users find local professionals to do the work, all online and within minutes. Real estate agents can help their clients find the best price and professional in the area for home improvement projects to ensure a house will be ready to put on the market at the best listing price possible.
TermScout provides a range of business information about specific markets for real estate companies using sophisticated data-sorting technology. For example, the service aggregates data on tenants for commercial brokers and owners to find new customers or for retailers to understand their competitor’s leases. The company also hopes to assist the commercial sector by providing information for brokers about office vacancies, up-and-coming technology products, and lease expirations.
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