The National Association of Realtors today announced the 12 participants selected for its Innovation, Opportunity & Investment (iOi) Summit’s “Pitch Battle” competition, according to a press release.
The companies selected include: Agently, Arx, CubiCasa, Fractional, Inspectify, Pacaso, Prisidio, RentBase, Residently, Revive, Stake and Symba.
The competition will be presented by Second Century Ventures, NAR’s venture capital arm. It will be held in Los Angeles, California, from Sept. 28th until Sept. 29th, the release says.
The summit will be a hub for professionals in the real estate industry to exchange ideas and discuss their innovations “live on stage,” says NAR CEO and Second Century Ventures president Bob Goldberg.
“In today’s real estate ecosystem, innovation is accelerating, opportunity is exploding, and investment is at a record high,” he added, in the release. “At the iOi Summit, real estate professionals, investors and innovators gather to cultivate and champion the most impactful ideas that will disrupt the status quo and advance the industry.”
The release states the competition will include a four-minute pitch of a product or service from each contestant. This will be followed by a round of questions from judges and answers from the participant.
Participants will also be required to make a case about each innovation or service, and how it contributes to improving the real estate industry across commercial and residential properties.
The winner of the competition will win $15,000 and a booth at NAR NXT, NAR’s annual conference in November. It will also present the Pitch Battle winner of the next competition at iOi 2023.
An additional perk is “national publicity” as an organization which has the potential to impact the field of real estate, said NAR’s director of emerging technology, David Conroy.
The release also provided details on each participant, found below.
- Agently: a real estate brokerage proptech, spends $2 billion annually on the recruitment of agents and compensates for turnover.
- Arx: an automated underwriting and market intelligence platform, identifies properties and manually underwrites it to discern if its a worthwhile target, streamlining those properties for professionals.
- CubiCasa: a Finland-based floor plan proptech provides property-scanning services on mobile phones within five minutes.
- Fractional: a real-estate co-owning social platform, which eliminate complications in legal processes and logistics to help people co-manage properties.
- Inspectify: connects real estate professionals and home buyers with inspectors to check on home safety.
- Pacaso: a luxury second-home co-ownership proptech, which helps buyers by lowering ownership cost and property management.
- Prisidio: provides a cloud-based vault to help users store valuable information.
- RentBase: takes a data-driven approach toward providing an overview of landlords, listings and leads to agents.
- Residently: an app-based property rental proptech, which helps people rent homes and secure them months in advance.
- Revive: a home renovation company, which helps homeowners repair and renovate their homes before selling them, thereby increasing their net profits.
- Stake: a real estate investment firm that incentivizes residents’ actions with cash back offers.
- Symba: a customer relationship management and banking platform, providing services to real estate agents for client and deal management, and financial decisions.
In other recent proptech news, BatchService, a real estate SaaS proptech, launched BatchLeads 3.0, a property intelligence software platform for professionals in the real estate industry. Lisa Picard, former CEO of investment platform EQ Office, will also be a partner at Sway Ventures, a venture capital firm.