Imagine the vast universe of capitalism in which a particular industry can have such resounding force and leverage, that each and every one of us is impacted by its magnetic field. One of these entities of cosmic proportions--one that represents 15% of the U.S. economy--is taking a vested interest in the entrepreneurial cause: The NATIONAL ASSOCIATION OF REALTORS®. This is the nation’s largest trade organization, and Second Century Ventures Fund, a venture capital fund focused on promoting innovation in the real estate industry, have created REachTM, an accelerator operation that opens the market of real estate to startups who have the potential to bring something groundbreaking to the industry.
As our world progressively becomes more compact with the opportunity for instantaneous and continuous interaction, industries are no longer compartmentalized but encouraged to reciprocally work with one another. Such is the appeal of REachTM. It is focused on establishing mutually beneficial relationships with startups and optimally offering a prolific channel for marketing and exposure. The primary condition is that the business concept be potentially applicable to realtors' everyday operations. They are looking to develop a portfolio that is diverse and all encompassing, with the real estate initiative providing the common link.
Like entrepreneurs, realtors are expected to function at the forefront of technology so it is REachTM’s proactive mission to identify, market, and develop resources and applications that will benefit real estate relationships and transactions. Social media platforms, video applications, reputation management tools, and SaaS based productivity software are just a few of the broad-based themes that pertain to the mission of maximizing efficiency within the real estate marketplace.
Pardon the clichéd illustration, but imagine how Facebook and Twitter caused seismic shifts in our personal and professional lives, reconstructing how we interact and function with our immediate world. For realtors, the aperture of social media was no small wonder. Setting aside the mind-boggling exposure factor and concentrating solely on functionality, when asked whether applications like Facebook, Twitter, or Dropbox had hypothetically applied to the program, Constance Freedman, Founder of REachTM and Managing Director of Second Century Ventures, exclaimed,
"Absolutely we would consider them!"
We were expecting and hoping for this answer (let's face it, it's nearly impossible to be unbiased in regards to the aforementioned companies' mass success), but her response attests to the fact that REachTM is not letting their mission be inhibited by boundaries or expectations. Instead they are open-minded, malleable, and enthusiastically prepared to discern the next big thing. REachTMwants to be at the helm of innovation and is therefore acting as a talent scout to locate whatever that “next” successful startup will be. The program is in turn offering its chock-full Rolodex of resources, including education, mentorship, and financial backing. In the immortalized words of the fictionalized character Sean Parker (Facebook’s first president and serial entrepreneur) in The Social Network: “A million dollars isn’t cool. You know what’s cool? A billion dollars.” Here is the astounding opportunity to leverage a $4.5 billion dollar brand (i.e. cool) and tap into a multi-trillion dollar market. We weren’t kidding when we told you the scope of this operation reaches astronomical proportions.
MeetAdvisors highly suggest taking a look at the link below and determining whether your business is qualified for the program. The deadline is Friday, January 25th so visit the REachTM website to find out details and learn more. Also, we are proud to report that Mark Birschbach (Principal of Second City Ventures) is an Advisor on MeetAdvisors site and is graciously available for advice.