Real Estate Tech Startups?
Would be great if we could get a list of the most successful/emerging real estate technologies and startups and get some opinions on the future of the industry.
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I'm sure that list exists. There are a ton of new technologies for leasing, ops, construction, etc. and probably an equal amount of real estate crowdfunding sites. I'll try to find some highlights this week.
I'll throw one out there for the construction side. Plan Grid. Totally changed the document control in the field for construction firms. Great product. I don't know any large GC that doesn't use it. For an owner, its great because I can have 100's of pages of construction drawings from multiple buildings very neatly organized on it wherever I am. The design drawing updates are synced so I always have the contract set and any new sheets that were updated. It also manages the RFI process easily.
I've heard about Rentlytics more than a few times
I like Cozy and Brevitas. The former is for small landlords and the latter if for "off-market" deals...it's a cool concept but I haven't found too many opportunities. In fact, some of the deals we've looked at were actually already shopped by a broker and never sold.
Interesting to me:
-Assess+RE -Create.io -CreditFI -resimodel -pereview -reonomy -Spidersuite -Brokersavant
Obvious: -VTS -Hightower -Compstack -Realmassive
https://www.dropbox.com/s/v1hysg5mkfx4w83/CRE%20Tech%20Year%20End%20Rep…
Thanks for the shoutout! Flattered to be on your list. Hoping we can make it to the "Obvious" section sometime in the not-too-distant future.
Perhaps we're a bit early - but we at Assess+RE are hoping to make this list sometime in the near future. I believe we're the first real product that can challenge Argus, an we've got a lot more that's currently in planning.
We're currently in open beta (google "assess re"; can't post a link here), so anybody can feel free to check us out, sign up, and use the product for free for a bit while we get ready for commercial release.
Also - happy to answer any questions anybody may have! Just reach out, either here or via private message.
Cadre. Started by some young ex-Blackstone guys and backed by Kushner brothers, Mike Fascitelli, and others.
Surprised nobody has mentioned the crowdfunding startups yet - Fundrise, RealtyMogul, Crowdstreet, etc.
We actually used one on a deal and it was smooth as can be. I think it's a great idea for subordinated debt option
Ten-X for an online real estate market. Backed by Google Capital.
TenX (formerly auction.com) is indeed a great format, I just find that there aren't many deals on there at the moment. Maybe if there's another pricing shakeup and people need to quickly liquidate, then the auction sites will be in vogue again.
Yea I think they realized that and also wanted to get away from the auction connotation (distressed assets) hence the rebrand. They're rolling out more stable properties to attract a more institutional clientele.
I didn't see OpenDoor above. I interviewed for a job there for their Dallas expansion. Very smart people and cool technology (machine learning to value real estate). Admittedly the Phoenix home market is pretty homogenous but eventually most of real estate will valued by a computer looking at hundreds of variables.
CB Insights has done a good job tracking funding into the RE Tech Sector.
By funding, the top 10 RE Tech companies are:
(Source: https://www.cbinsights.com/blog/real-estate-tech-startup-funding-trends…)
Here is how CB breaks up the categories.
-Listing & Search Services -Marketplaces -Virtual Viewing -Tech-enabled Brokerage -Leasing-Management Software -Data, Valuation, and Analytics -O-2-O Services -Mortgage Tech -Property/Building Management -Investments and Crowdfunding -Property Information
Plus their list of 53 Startups to watch
(Source, sorry for the long links: https://www.cbinsights.com/blog/commercial-real-estate-tech-market-map-…)
Best place to search IMHO of potential up and comers is angelist.co and crunchbase.com!
They have some of the best resources.
Redfin Updater Zoopla Create myCREOpoint Architizer SmartZip Analytics
Juniper Square Opendoor Amitree HappyCo
Most of them are aimed at the buying/selling markets. Honestly, within the construction field I was surprised to see how well iSqft is doing (takeoff software) and know its used by a fair amount of small/medium contractors.
I work as a broker and have found Smartgallery.io very helpful! I think that they've been on the market less than a year. Smartgallery.io is aimed for brokers, RE-photographers etc. Easy way to get a look of a pro marketer in an instance. I use it for RE marketing but I believe that it could also be used for renting for example.
Skylight is one I've heard of recently
Online bidding seems to be one of the trends that real estate startups have followed recently. I read about Biddwell, in Canada, Rentberry, coming from USA and bidRhino, launched in Australia.They allows tenants submit price for property and see offers of other applicants. The startups claim that they help to determine fair market price for property. In this way landlords can minimize vacancy rate of their homes. Maybe such startups can make the real estate market more transparent due to open bidding system.
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