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Sign into your accountWhat is a Real Estate Technology Accelerator?
April 11 2013
If you've been paying attention to industry news lately, you've probably heard the term "technology accelerator" in reports. NAR runs one called REach™, and even Inman News has jumped into the game, announcing Inman Incubator earlier this month.
So what is a tech accelerator? In short, it's a program that helps young technology companies grow by providing them with education, mentorship and, in some cases, funding. In the case of REach™, the program specifically grooms companies for success within the real estate industry.
Teaching Startups About Real Estate
REach™ differs from other incubator programs in a few key ways, foremost being NAR's stewardship. By supporting companies that can, in turn, support its 1,000,000 members with innovative new technology, the National Association of REALTORS® looks to secure the future of itself and the industry at large.
That support includes intensive education on things like execution strategies, how to measure success, and insight into the real estate customer. "There are some intricacies and nuances of the industry that we need to understand at a deeper level," says Conor McCluskey, founder of BombBomb, the first company admitted to REach's class of 2013. "Overall, we expect to benefit from the relationships we'll make with industry leaders, with brokers and agents, and with like-minded companies serving the industry."