What is it about Boston?
Boston is home to a rich history and is a college town full of kids from Harvard, Emerson, Suffolk, Boston University, Northeastern and others. It has more tech investors per capita than most major cities, and several sectors of the residential real estate industry are currently suffering.
Putting a down market together with money and creative talent on tap makes for the perfect storm for real estate technology startups. In conversations with some existing startups, there is an unspoken energy behind their companies that is very different than say, real estate tech and brokerage startups here in Austin.
San Francisco and New York may lay claim to a higher volume of real estate tech startups, but we’re noticing a momentum shift in enthusiasm, innovation and blossoming real estate tech startups move toward Bean Town.
Which startups already exist?
I believe the market is ripe in Boston for real estate tech startups and we will see more companies born in the next 24 months that look to reshape how real estate functions.
We believe real estate brokerage is being radically shifted by CondoDomain, Rental Relationship Management companies RentJuice and YouGotListings are leading the charge to change how property managers and investors organize and manage their moving parts. DwellAgent sought to simplify and beautify the real estate website experience for Realtors, and Real Estate Cloud aims to streamline listings management, both companies founded by experienced Realtors.
Is Boston the source of the next real estate revolution?
The list is growing and the vibe behind the Boston real estate and real estate tech movement is palpable. Talk to any of these companies and see if you don’t feel the enthusiasm we felt from Redfin in 2006, even in a down market, and even when bad news rolls in. Is the next real estate revolution coming out of Boston? They’re not press darlings and they’re underdogs, and if they work for it and don’t lose their momentum, they have a good chance to make big changes in the industry.