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NAR Invests in 6 Startups Through REach Accelerator Program

NAR Invests in 6 Startups Through REach Accelerator Program

I bet you did not know that the National Association of Realtors (NAR) runs an accelerator program for new startups through their Second Century Ventures fund, did you? I didn’t until this week, but it is a concept worth exploring.

Innovation through technology has been an important driver in the real estate industry, and needs to be supported. That being said, the 6 companies picked to be part of the 2013 REach accelerator program are getting the best of both worlds; an investment in the company and the weight and power of the NAR to help them succeed.

These companies are focused on forward thinking customer engagement tools that will help Realtors, and that is a great thing. A commitment from the NAR to their membership to drive improved client services and communication will be beneficial for all in the industry.

NAR’s REach Accelerators Class of 2013

  • BombBomb – Provides a complete e-mail and video marketing platform for developing, sending and tracking results of traditional and video e-mail campaigns from any device.
  • Lumentus – Gives companies a measurable edge in identifying, understanding and engaging social media communities keeping social media communications on brand and on mission.
  • Planwise – Offers a financial planning service that enables individuals to plan for major life events by simply and visually testing real-life scenarios.
  • Reach150 – Provides a turnkey referral platform for service professionals to quickly build a positive reputation online.
  • Updater – Provides a free service for anyone who is moving to easily forward mail, update accounts, transfer utilities, and sign up for home services in a single location.
  • Workface – Offers a unique, quick-to-deploy live chat (text, audio, video) software platform for real time one-on-one conversations at a customer’s moment of interest.

I wish all these companies the best of luck going forward, you have earned the opportunity. I would also cousel them to use the mentors in the REach program. I have been fortunately to get to know a few of them and they can offer you advice that will move your companies forward.

To learn more about the REach program, visit their site here.

Tags: REach+NAR

5 comments

  1. The BombBomb startup sounds the most intriguing to me since I work with a lot of buyers relocating to my area. It’d be helpful if NAR could get a better edge in using video for real estate. Thanks for sharing, and I’ll be interested to see what becomes of this.

  2. Tom I did not know that the National Association of Realtors® (NAR) runs any program for new startups through ventures funds. But isn't NAR representing us Realtors®. Shouldn't this concept be more like a steering committee if it is worth exploring different real estate APP and channels to facilitate real estate business.

    The program should be called REach For My Wallet.

    We pay Realtor® dues so we do have a voice.
    My opinion for now is this:

    Sounds like Google's ® job> BombBomb – Provides a complete e-mail and video marketing platform for developing, sending and tracking results of traditional and video e-mail campaigns from any device.

    My opinions for now are this: “NAR lets not make the same mistake and sell our the venture ideas to REALTOR.COM!”

    Isn't this our job> Lumentus – Gives companies a measurable edge in identifying, understanding and engaging social media communities keeping social media communications on brand and on mission.

    Ok this could be worth exploring for your job> Planwise – Offers a financial planning service that enables individuals to plan for major life events by simply and visually testing real-life scenarios.

    Sounds like RELO's ® job> Reach150 – Provides a turnkey referral platform for service professionals to quickly build a positive reputation online.

    Sounds like the internet's job lots not be so lazy> Updater – Provides a free service for anyone who is moving to easily forward mail, update accounts, transfer utilities, and sign up for home services in a single location.

    Sounds like Google's ® job> Workface – Offers a unique, quick-to-deploy live chat (text, audio, video) software platform for real time one-on-one conversations at a customer’s moment of interest.

    Again “National Association of Realtors ® lets not make the same mistake and sell our rights and ideas to any private company like REALTOR.COM!”

    The program should be called REach For My Wallet.

    • Anthony, I do not disagree with you it is strange the different roles that NAR takes in the industry as opposed to being the advocacy agent it is supposed to be. But that being said, I am not a Realtor or play one on TV, so I can not do anything about their business practices. If I was an agent my reaction would be much different .

  3. Tom, Thanks. Very useful information for our startup. Interestingly our service is meant as a lead generator for realtors.
    /jay

  4. It will be interesting to see what benefit (if any) the dues paying members of NAR will receive by supporting these startups.

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