CHICAGO (March 15, 2022) – Second Century Ventures, NAR's strategic technology investment arm, announced today the launch of the NAR REACH Labs program. This program helps Realtor® associations engage with the startup community and source innovation for its members more quickly, efficiently and effectively.
"Over the past decade, Second Century Ventures has supported and advanced innovation that reinforces Realtors®' essential role in the real estate transaction," said SCV's Managing Partner Dave Garland. "Our REACH growth program has expanded to additional sectors and geographies, now offering five premier scale-up programs around the world. To further our mission to accelerate technology in every corner of the marketplace, we are excited to launch REACH Labs. This program will provide Realtor® associations with a framework to engage more deeply with their local startup ecosystems and bring additional technology to their members."
REACH Labs are staffed and operated by local associations with support from the REACH scale-up program. Each association can leverage well-established REACH techniques and processes to build relationships with local technology investors, incubators, university programs and entrepreneurs, who all play a vital role in the tech startup ecosystem. Associations present selected startups to their members through quarterly "innovation showcases," which empower attendees to learn about and provide feedback on these new tech solutions.
"Local Realtor® associations play a vital role in connecting with members and affiliates across the nation," said NAR CEO Bob Goldberg. "The new REACH Labs program enhances our ability to deliver innovation to Realtors®, both locally and globally. We have been impressed with the pilot group and look forward to seeing the great things ahead."
The REACH Labs program was initially piloted in 2021 by the Austin Board of REALTORS®, the Denver Metro Association of REALTORS®, the Miami Association of REALTORS®, and the Northern Virginia Association of REALTORS®. These pilot associations hosted innovation showcases throughout the fourth quarter of 2021 and the first quarter of 2022, which were met with overwhelming enthusiasm by association leaders and members.
"Working collaboratively with NAR and other innovative Realtor® associations throughout the country allows us to shape the technology landscape for our industry in a way that has both immediate and long-term benefits for our members and their clients," said Ryan McLaughlin, CEO of the Northern Virginia Association of Realtors®.
The program has since expanded to include the Greater Tampa REALTORS®, the MetroTex Association of REALTORS®, the Chicago Association of REALTORS® and the Orlando Regional REALTOR® Association. These new partners will each host innovation showcases in the months ahead. With the addition of these four associations, the REACH Labs program now directly benefits more than 160,000 Realtors®.
REACH is a unique technology scale-up program created by Second Century Ventures, the most active global fund in real estate technology. Backed by the National Association of Realtors®, REACH leverages the association's more than 1.5 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies scale across the real estate vertical and its adjacent markets through education, mentorship and market exposure.
The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.
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