Real Estate Tech Companies are changing the Experience of Buying a Home, From Listing Services to Virtual Viewings to Property Management Software
Truss a tech-enabled brokerage, can handle all of the aspects of the office space search, allowing companies to search, tour, analyze, negotiate and sign lease documents all on one platform. Truss also plans to soon incorporate virtual reality into its service, allowing tenants to get a better sense of the space. Truss uses machine learning and data science to help find properties that best fit a business’s needs, and it uses artificial intelligence to help advice clients on the fair market price for a space and schedule tours.
Members of Metaprop NYC’s 2016 accelerator class, who survived a 22-week growth program, made their pitch to a room full of venture capitalists and start-up founders. The firms that made the final cut are commercial appraisal firm Bowery, energy management platform Enertiv, sublet listing website Flip, group fitness class service hOM, construction project management tool OnTarget and HVAC software platform Ravti. The start-ups included in the final roster bucked steep odds to make the final roster.
Who’s there? Knock, a new online real estate startup that guarantees it will sell your home in 6 weeks
Knock just completed a Series A funding round of $32.5 million led by RRE Ventures and is using metro Atlanta as a launch market, with plans to expand nationally in the coming months. Knock asserts that it is alone online in the quest to sell homes at market price in six weeks for the same six percent fee that users would pay a traditional real estate agent. The company said it uses a home pricing algorithm, neighborhood analysis and a proprietary 200-point on-site inspection to ensure homes are priced right the first time.
KSL Homes is a classifieds website and app that features properties for sale and rent in Utah, posted by both individuals and agents. Homie is a technology platform that helps homebuyers and sellers connect and transact during the process of selling a home, rather than going through a third-party service. The partnership allows users to take advantage of enhanced marketing, legal services and automated home tours.
Zoopla provides home buyers with average house pricing estimates for different regions in the U.K. Founded in 2007; the U.K. startup has raised nearly $26 million in venture funding. Zoopla went public in 2014. The acquisition of Hometrack would likely be used to augment and enhance Zoopla’s pricing estimates. Zoopla reportedly said that Hometrack will also help it grow its B2B efforts. Zoopla reportedly has plans to release a number of new consumer and B2B products coming this year.
CB Insights — a venture capital database — shows that funding in real estate tech businesses have jumped from $300 million in 2012 to $1.5 billion in 2015. That’s more than a 350 per cent increase in a field that’s been dominated by in-person relationships. This money is being sunk into real estate tech companies that are changing the experience of buying a home, from listing services to virtual viewings to property management software. Yet, many aspects still haven’t been completely digitized. So will 2017 be the year that the Canadian real estate sector turns home-buying into a less stressful and more enjoyable experience? With increased access to data, homebuyers now have all the information they need to make an educated purchasing decision. This forces real estate professionals to reinvent their role.
With mentorship and advice from NFX managing partners like Pete Flint, a Trulia co-founder and former CEO, and James Currier, who has founded, invested and advised numerous marketplace startups over the last 16 years, GoldenKey is now set up to handle transactions in any U.S. state by any of 1.8 million licensed real estate agents. 2,000 are already part of the GoldenKey network.