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n the rapidly evolving real estate landscape, technology has emerged as a driving force reshaping how professionals operate and engage with clients. Two key entities, REACH and Second Century Ventures (SCV), are at the forefront of this transformation, fostering innovation and ensuring that real estate professionals remain ahead of industry advancements.
According to Rebecca Thomson, national vice president at Coldwell Banker Realty, technology is the "ultimate differentiator" in real estate. It won't replace agents but will magnify their impact, allowing well-equipped agents to outpace competitors by 10 times. Ashley Stinton, managing partner of REACH's U.S. Residential program, believes that the relationship between agents and technology will continue to strengthen as consumers become more reliant on new technologies in their daily lives.
REACH, established by SCV to identify and support companies poised to make a significant impact on the real estate sector, has become the most active global fund in real estate technology. The program offers a robust curriculum that includes education, mentorship, exclusive networking opportunities, and exposure to the global real estate marketplace. Each year, REACH selects a cohort of companies to participate in its intensive program, providing guidance from industry leaders, access to a vast network of real estate professionals, and opportunities to showcase their products and services.
Thomson evaluates tools based on whether they solve real problems, complement NAR's existing tech stack, and enhance how agents already work. She emphasizes that the most effective property technology recognizes that agents are indispensable to the transaction and should be built to complement the human element rather than replace it. Stinton describes the aim of each REACH cohort as balancing solutions that real estate professionals can implement today with forward-looking solutions they can learn about and consider implementing in the future.
Chicagoland presents unique challenges to proptech developers, requiring flexibility to account for high-density living, co-ops, condo associations, and legal nuances. Stinton highlights a few REACH companies already available in the city, including Foyer, which accelerates the path to homeownership by offering a down payment savings match of up to 6%, and QwikFix, which leverages AI to efficiently read inspection reports and generate quotes from vetted repair professionals.
Thomson singles out Tongo for solving a real pain point by offering more sustainable financial options for agents and Final Offer for introducing a compelling new take on how listings and negotiations could evolve. The next tech horizons include artificial intelligence, which will continue to drive innovation in proptech, delivering more efficient ways for brokers and agents to power their businesses.
Stinton recommends that agents and brokerages stay on top of tech advances by following the REACH program on LinkedIn and providing feedback to help validate solutions or pivot when necessary. Thomson advises agents to choose the tech that is right for them, rather than trying to use every tool, and to focus on platforms that support their specific value proposition.
