Investors can now manage their properties more conveniently, with the recent expansion of the REACH Accelerator program to Australia.
The REACH program, backed by the National Association of Realtors, an American industry group, aims to recruit and accelerate the most promising new technologies in the real estate industry.
“We look for innovation across the entire spectrum of real estate, including mortgage, insurance, home services and tenant services. This is essentially technology that makes it easier for both home buyers and investors to find, purchase, maintain and value-add to their properties,” said Shelli Trung, partner at REACH.
The program was responsible for launching DocuSign, a software service for electronic signatures, which enables users to securely sign, send, and store documents in the cloud. Digital signatories are commonplace, making real estate transactions more transparent, easier, and faster than in the past.
Trung said that investors and tenants are now savvier than before and are actively looking for new ways to make their real estate investment more profitable and enjoyable, from with the buying process up to managing tenants.
“Examples might include tools that use AI to tell you what the optimal rental price would be to secure a tenant quickly or perhaps wait a few weeks to fetch a higher price. Others might include notifications of when you are paying too much on your mortgage and how you might be better off switching,” she said.
Across the Asia Pacific, there are already several technology accelerators dedicated to financial services, but very few for the property industry. Applications for the REACH Accelerator will open on July 15th and close on Sept. 15th. There will be a yearly intake of up to 10 companies.
