Real Estate Technology’s New and Big Kids of the Block
When it comes to apartments, New York City is a seller’s market and it always has been. With with no local multiple listings service, finding an apartment to rent without a good broker is nearly impossible. And so Brokr.com, a startup which launched in 2014, and is just accepted into AREA’s ((A Real Estate Accelerator) 2017 accelerator class is a rising apartment listing platform that claims to be the next step in the New York City rental evolution, at least if you’re limiting your search to the Financial District, which is the only market the platform currently serves.
The National Association of Realtors’ strategic investment arm, Second Century Ventures, has said it is accepting applications for its 2017 REach accelerator class from now until January 31, 2017. REach offers education, mentorship and exposure for technology companies to enter into the real estate market, advance their businesses and expand into adjacent markets such as insurance, mortgage and financial services. The program accepts organizations in later growth stages, not just early-stage companies.
Launched in Montréal, Breather which competes with other New York startups like Splacer, has set up a Manhattan headquarters this year and expanded its footprint over the past year. The company tapped commercial real estate firm Cushman & Wakefield to help it double the number of spaces in N.Y.C. to about 150 in 2016.
Technology continues to be a facilitator for a change in basically every industry, and the real estate market is no exception. Any real estate agent can do business from a smartphone, given the right set of apps. So here are 7 useful apps for real estate agents.
Earlier this year, MIT announced that it would be creating DesignX, a new accelerator to support innovators within their community focused on making advancements within the real estate, urban planning and architecture spaces. And now the Institute has chosen the eight startups that will comprise the first cohort participating in the School of Architecture and Planning’s accelerator program.
The real estate tech industry in 2016 could be summed up in one phrase: the big kids took over the playground. Though there was a drop in the number of new startups and many fledgling companies struggled to secure financing, the established firms scored big money from investors and took steps to cement their market dominance. No, the post-2012 crop of startups still hasn’t led to an IPO. But this year saw some deals that make one a lot more likely in the near future. Here’s a semi-subjective list of the biggest real estate tech deals, compiled with the help of PitchBook, a database for M&A, venture capital and private equity.