The National Association of Realtors’ (NAR) REACH technology growth program has been named PropTech Outlook’s 2024 Accelerator of the Year, highlighting its growing influence in real estate innovation.
Created by Second Century Ventures, NAR’s strategic investment arm, REACH has expanded from a single US program in 2013 to operating across seven major markets.
The program takes advantage of NAR’s network of 1.5 million members and executives from both residential and commercial real estate sectors to foster innovation and growth.
NAR REACH, managing partner, Ashley Stinton said he was proud to be recognised for the work they are doing.
“Being recognised as 2024 Accelerator of the Year highlights REACH’s incredible journey from its first U.S.-based program in 2013 to now operating across seven major markets,” Mr Stinton said.
In 2024, REACH welcomed 55 new companies across its programs, focusing on solutions in building automation, brokerage, finance and banking, asset and property management and data analytics.
The program now operates across multiple regions including the United States, United Kingdom, Canada, Australia and New Zealand, Latin America and Israel, with plans for further expansion.
REACH’s success lies in its ability to provide mentorship from industry leaders, education from experts, and market exposure through Demo Days and partner events in each program region.
Managing partner for REACH Australia and New Zealand, Peter Schravemade, said REACH has a worldwide vision and a focus on fostering local innovation while scaling startups internationally.
“This award reflects the collective strength of our program, and we’re thrilled to see its impact recognised on a global stage,” he said.
“We’ve been very active in the property technology space, making significant investments in companies that align with our goals.
“Right now, we hold stakes in about 40 per cent of the relevant property technology companies, which is quite a strong position.”
Mr Schravemade said the REACH program has been going from strength to strength locally.
“Here in Australia and New Zealand, we’ve seen a surge of innovation in PropTech, particularly in adjacent areas like construction, architecture and commercial developments, which are critical for addressing housing supply challenges,” Mr Schravemade said.
“Our expansion plans include introducing a second program in the region in the coming years.”
Managing partner, REACH UK, Natasha Terinova, said their unique co-investment partnership with industry organisations Propertymark and TDS has enabled them to foster even greater industry collaboration and support for our startups, accelerating their growth and market reach.
“The strength of REACH lies in our ability to scale innovative startups globally while delivering tailored support that addresses regional market needs,” Ms Terinova said.
