By Nav Athwal on October 12, 2016.
Entrepreneurs have long been using technology to remove barriers and make time-intensive processes more efficient across many industries, yet real estate innovation has seemed to lag behind. The tried-and-true process of purchasing property has had a rigid flow. Still, there are a handful of startups nibbling around the edges, hoping to get a piece of the massive real estate market.
The latest real estate tech startups infuse the industry with much needed innovation, allowing for more creative solutions when it comes to data sharing, project management and even funding. From property listing and lease management to crowdfunding and even virtual viewing, here are some of the startups having the biggest impact on the real estate market today.
This innovative app combines a powerful CRM for agents with a networking space, making it easier than ever to interact with other agents and to manage contacts and relationships. AgentDesks serves as a mobile workstation for commercial and residential real estate agents, simplifying how they manage information, projects and prospects.
Targeting new businesses and startups in need of office space, LiquidSpace makes it possible to set up shop in just a few hours, instead of a few weeks. This startup matches those with space to let with those looking for new office digs – and helps out with all of the lease and payment details, too.
This New York based startup has already raised $84 million, making it the most well funded company in commercial real estate technology, and continues to gain ground. The technology is an asset management and leasing platform that provides real-time analytics to landlords and brokerage firms. With VTS, brokers and landlords can manage deal activity, identify trends and quantify portfolio performance from their desktop or mobile device. To date, more than 3 billion square feet of real estate are managed on VTS.
Founded in 2015, this innovative management platform takes advantage of the cloud to bring together all parties in the commercial leasing process. Hightower enables multiple parties to view data and make collaborative decisions in real-time.
This crowdsourcing model focuses on creating an ever-growing database of difficult to find, difficult to compile real estate information. By incentivizing data submissions, CompStak has built a comprehensive and far-reaching database of commercial real estate comps. The resulting database also has a variety of resale options – CompStak has successfully targeted banks, hedge funds, REITs and other asset managers and agencies.
This San Francisco startup focuses on the multi-family real estate market and allows investors to assess investment data and business intelligence in one easy-to-use dashboard. The Rentlytics interface includes both analytics and a variety of tools to maximize revenues and get a true idea of the potential performance for their assets.
Bridging the gap between real estate borrowers and investors, this crowdfunding company allows fix-and-flippers, developers and operators to seek funding for projects around the country through the RealtyShares platform. The company’s network of more than 25,000 investors can get involved in these deals for as little as $5,000.
It’s not particularly new or fancy, but the ability to sign legal documents in digital format has had a huge impact on the commercial and residential real estate world. Founded in 2003, Docusign makes it easy to close deals online whether the other party is in the room next door or thousands of miles away.
These startups are streamlining the way real estate professionals, investors and organizations share data, manage projects and even fund investments. While all might not survive, the potential to contribute to a thriving industry has been enough to fuel some exciting, innovative new products.