Real EstateDealmakingProptechReal Estate Tech

Pacaso continues to push co-ownership model with partnership

Partnership with Aston Rose follows RE/MAX partnership, formation of government advisory board

Pacaso, a real estate proptech in the co-ownership industry, today announced its partnership with Aston Rose Sports + Entertainment, a brokerage firm led by sports professionals turned real estate agents, according to a press release.

This alliance aims to join Aston Rose’s network of athletes and other professionals to Pacaso’s current operations in 40 luxury second home destinations.

“Pacaso’s innovative co-ownership model is perfect for Aston Rose clients with busy lifestyles and for those seeking simplicity,” stated Marnie Blanco, Vice President of Industry Relations of Pacaso, in the release.

Aston Rose was founded by former athletes Rod Watson, Lisa Leslie, Tomi Rose and Rob Hite. Watson is also the newest member of the Pacaso Agent Collective (PAC), a growing network of real estate agents which are focused on utilizing Pacaso’s co-ownership second home model. The firm named De’Aaron Fox, Zach Randolph, Melo Ball and Money Bag Yo as clients.

Watson says busy clients in the sports and entertainment industries have limited free time and want to relax with their families during the off-season. 

“Pacaso allows them to do just that and we’re excited to advise them on the innovative co-ownership model that is likely to be a better investment and option for their vibrant and busy lifestyles,” Watson said in the release.

Pacaso recently released a report on the second home markets in July, which found a 25% increase in its transactions in the second quarter of 2022. It also said sales in these homes increased by 235% since Q1 of 2020, owing to demand for vacation rentals in scenic destinations. The key markets with the most increase over the years are in Coeur d’Alene, Idaho; Williamson County, Tennessee and Kitsap County, Washington, as per the report.

The company also formed a Government Advisory Board in July to guide its housing policy, engagement and growth. The board includes chair Steve Benjamin, former mayor of Columbia (South Carolina), Steve Adler mayor of Austin (Texas), Michael Hancock mayor of Denver (Colorado), Danny Perez, member of the Florida House of Representatives and Alexis Podesta, former California Secretary of Business, Consumer Services, and Housing.

Moreover, Pacaso also entered into a partnership with RE/MAX and its Approved Supplier program, a leading real estate brokerage network and service firm, which operates through a franchise system in about 100 countries.

“Pacaso’s unique services create real opportunities for second home buyers and the professionals who work with them. This is a great fit for RE/MAX agents, who tend to embrace smart new ideas they can leverage to close sales and benefit their clients,” Nick Bailey,  president and CEO of RE/MAX, had then said.

The company was also recently named a finalist at Inman Innovator Award in the Most Innovative Company category and the Inman Golden I Award in the Best Luxury Standout category.

In other recent proptech news, a new study shows 4.3 million apartment units will be needed by 2035. Built Technologies also acquired commercial deal management platform Nativ. 

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