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NAR’s REACH Labs Places Innovation on the Forefront with Launch of First Multi-Affiliation Program


CHICAGO (August 1, 2022) – The Nationwide Affiliation of Realtors®’ REACH Labs program, which identifies and connects modern early-stage startups to the Realtor® neighborhood, right this moment introduced its enlargement to Chicago to launch its first multi-association and a number of itemizing service (MLS) REACH Lab. Collectively representing over 46,000 Realtors®, the brand new REACH Lab will probably be collectively run by the Mainstreet Group of Realtors®, the Chicago Affiliation of Realtors®, the North-Shore Barrington Affiliation of Realtors® and Midwest Actual Property Knowledge (MRED).

Chicago represents a deep pool of startup innovation, with native tech corporations elevating $7 billion in 2021, based on enterprise information agency Pitchbook. By the REACH Labs program, Chicagoland startups creating options for actual property and adjoining industries like mortgage, dwelling companies and insurance coverage have a big alternative to attach with hundreds of actual property professionals.

“Chicagoland has an unbelievable know-how ecosystem, and the Mainstreet Group of Realtors® is dedicated to bringing alternatives to our members that hold them on the innovative,” mentioned Kate Sax, vp of professionalism and profession improvement for the Mainstreet Group of Realtors®. “REACH Labs will permit us to attach Mainstreet members with new applied sciences and supply them with a path of entry to native startups that can assist construct their companies with a watch on the longer term.”

The REACH Labs program helps Realtor® associations have interaction with the startup neighborhood and supply innovation for its members effectively and successfully. REACH Labs are staffed and operated by native associations or MLSs with help from the REACH scale-up program, created in 2013 by NAR’s enterprise arm, Second Century Ventures. Every REACH Lab presents chosen startups to their members by way of quarterly “innovation showcases”. REACH Labs Chicagoland will host its first innovation showcase within the fourth quarter of 2022.

“Chicagoland is wealthy in new know-how, and the Chicago Affiliation of Realtors® is worked up to assist deliver rising know-how to Realtors® all through the realm,” mentioned Zack Wahlquist, Chicago Affiliation of Realtors® chief working officer.

In different areas the place REACH Labs is already established, Realtors® have linked with tech firms that modernize the house tour expertise, permit brokers to handle offers extra seamlessly from begin to end and supply dwelling consumers with connections to native contractors.

“MRED is all the time seeking to serve the trade and supply merchandise that enhance our subscribers’ workflow,” mentioned Katrina Bressler, director of buyer expertise at MRED. “Whereas we already work with many great suppliers throughout the nation, I am excited to be part of a motion that allows native startups to attach with us and help our subscribers and neighborhood.”

“The North-Shore Barrington Affiliation of Realtors® has an extended historical past of supporting its members by way of our personalised service and tech help,” mentioned Michael Gazdzik, NSBAR IT and member help director. “We couldn’t be extra excited to work with our neighboring associations to deliver the newest in know-how to all our members.”

“We’re thrilled to ascertain the primary multi-association REACH Labs program in Chicago, the place the startup scene is prospering,” mentioned Dave Garland, managing accomplice, Second Century Ventures. “This partnership will set the stage for tech entrepreneurs to scale their companies by assembly the wants of a dynamic Realtor® neighborhood.”

Second Century Ventures, NAR’s strategic know-how funding arm, launched the REACH Labs program within the third quarter of 2021 with the Austin Board of Realtors®, the Denver Metro Affiliation of Realtors®, the Miami Affiliation of Realtors®, and the Northern Virginia Affiliation of Realtors®. It has expanded this system to incorporate the Larger Tampa Realtors®, the Metro Texas Affiliation of Realtors®, the Orlando Regional Realtor® Affiliation and the multi-association Chicagoland program, extending this system to succeed in almost 200,000 Realtors®.

For startups seeking to become involved with the Chicagoland REACH Labs program, contact Kate Sax at kate@succeedwithmore.com.

About REACH

REACH is a singular know-how scale-up program created by Second Century Ventures, essentially the most lively world fund in actual property know-how. Backed by the Nationwide Affiliation of Realtors®, REACH leverages the affiliation’s greater than 1.5 million members and an unparalleled community of executives inside actual property and adjoining industries. The REACH program helps know-how firms scale throughout the actual property vertical and its adjoining markets by way of training, mentorship and market publicity.

About NAR

The Nationwide Affiliation of Realtors® is America’s largest commerce affiliation, representing greater than 1.5 million members concerned in all points of the residential and industrial actual property industries.

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