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NAR’s investment arm launches real estate technology incubator, REach

NAR now seeks the diamonds in the rough when it comes to real estate technology, using the Second Century Ventures to incubate real estate startups of tomorrow.

diamond

diamond

104 year old trade group launches tech incubator

The National Association of Realtors’ (NAR) investment arm, Second Century Ventures was officially launched, branded, and began partnering with technology companies that serve the real estate industry, operating exclusively on returns, and not member dues. The goal of innovation has been lauded by other industries, but the organization was only partnering with established companies like DocuSign, rather than the budding ideas and bootstrap startups that could dominate the space with the right money and connections.

Enter REach™, the new real estate technology incubator which accepts companies at all stages of growth, noting that the accelerator program “will be particularly useful to those just now turning a focus to the real estate ecosystem,” hinting that it will not necessarily operate like the traditional startup accelerators most imagine where 20 somethings sit around in hoodies dreaming up iPhone apps.

The program will accept six to 10 companies per year, and is accepting applications through January 10, 2013. The REach™ program is nine months long and will begin in March 2013.

REach compared to other programs

In a statement, the newly formed organization explains that participating companies “will interact with some of the most highly regarded executives, digital entrepreneurs, and practitioners in the industry who run, manage or have sold companies with a combined multi-billion dollars of revenues in real estate alone.”

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NAR emphasizes that “while other Accelerator programs provide some similar functions and many significant benefits, REach™’s differentiating factor is a focus on education, mentorship and market exposure around access to the trillion-dollar real estate market and the strategic expertise NAR can bring. In the process, NAR will also bring added value to its membership and continue to fulfill its core mission by identifying those technologies, resources and companies that will most benefit the industry.”

“This venture truly represents a win for all parties,” said NAR CEO Dale Stinton. “It provides our members with cutting-edge resources that have already been vetted by their association; it creates solutions for the industry, consumers and investors that will improve all stages of the home-buying and selling process; and gives these companies an unprecedented opportunity. And it’s the first time an organization like NAR is behind an accelerator like REach™, which makes it that much more powerful.”

Written By

Marti Trewe reports on business and technology news, chasing his passion for helping entrepreneurs and small businesses to stay well informed in the fast paced 140-character world. Marti rarely sleeps and thrives on reader news tips, especially about startups and big moves in leadership.

13 Comments

13 Comments

  1. beachtowne

    November 9, 2012 at 10:37 am

    April Fool! Hilarious.

  2. Joshua Dorkin

    November 9, 2012 at 3:52 pm

    According to the NARreach website, “Participants will be responsible for providing a nominal marketing fee and small percentage of common stock.  Contact us for more details.”  
     
    Can you guys provide details on that?  
     
    Seems like an important detail not to make public . . . are we talking a few hundred bucks here or are they asking companies that enter the incubator program to pony up serious cash?

    • AGBeat

      November 9, 2012 at 3:58 pm

      @Joshua Dorkin we’ve reached out to them and plan a potential follow up story – good catch!

      • Joshua Dorkin

        November 9, 2012 at 4:03 pm

        @AGBeat Until then, were you able to get a number?

        • AGBeat

          November 9, 2012 at 4:11 pm

          @Joshua Dorkin We’re in touch with them, obtaining it now. We’ll post it here before we run a story so you have it. 🙂

        • AGBeat

          November 9, 2012 at 4:11 pm

          @Joshua Dorkin (aka, we’ll post it when we get it) 🙂

        • Joshua Dorkin

          November 9, 2012 at 4:13 pm

          @AGBeat I thought you were just holding out on me. 😉

        • AGBeat

          November 9, 2012 at 4:42 pm

          @Joshua Dorkin never!

        • ConstanceFreedman

          November 13, 2012 at 10:32 am

          @Joshua Dorkin  @AGBeat Joshua – we LOVE Bigger Pockets!  Please give us a call if you are interested in exploring whether there is a fit for the REach(TM) accelerator.  We would love to hear from you.  
          …Constance Freedman, Managing Director of REach(TM)

        • Joshua Dorkin

          November 13, 2012 at 5:59 pm

          Hey  @ConstanceFreedman   I appreciate the message and I’m glad you’re a fan of BiggerPockets!  We do our best to run a great website.  Thanks for taking notice!
           
          That said, I’m not certain that we’re looking for an accelerator at the moment, but I’d certainly be up to connect with you, as we all know the importance of knowing your colleagues.  Feel free to reach me on the usual networks (including ours) or by email – josh at biggerpockets.
           
          Regards.

  3. TBoard

    November 10, 2012 at 8:19 am

    NAR has a spectacular bad record with all things technological.  I am probably the only member who feels this way but I would be less trusting of a product recommended by NAR than a product that was recommended by my friends or clients.

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