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6 Real Estate Startups that are Changing The Industry

6 Real Estate Startups that are Changing The Industry

Posted by PanamericanWorld on April 03, 2017

Silicon Valley may be the technology hub of the United States, but there are exciting things happening in tech around the country as well, including several real estate startups cropping up in New York that could have national implications. 

With CBRE’s acquisition of Floored in January, I noted that real estate startups are beginning to reach a maturation point, showing that technology is set to make substantial waves in the industry. That interest extends to all areas, from property management to fintech. CB Insights recently released a report with real estate crowdfunding platform RealtyShares and five other real estate startups making the list of top fintech startups receiving venture capital funding in 2016. 

From New York to Michigan to Palo Alto, these companies span the country, with even more of these intriguing startups on the way. Metaprop, the most influential incubator for disruptive real estate technology, has fostered dozens of new ideas and companies looking to take exciting leaps forward in technology. As an unofficial feeder league for the growing PropTech scene, their 2016 Accelerator Class recently presented in both the Bay Area and the Big Apple, showing how quickly innovative ideas can grab a foothold in the archaic real estate industry. Here’s a look at six such up-and-coming startups putting those ideas into action.

 

Bowery

If you have ever bought or sold a property, you know that the appraisal is a key step in obtaining  funding. Lenders understandably need to know a property’s objective value before handing over a check for hundreds of thousands of dollars, if not millions.

Bowery is taking a new approach to appraisals that may completely change how this long-practiced real estate function is performed. They have created a proprietary appraisal platform for commercial real estate that utilizes the power of big data to make appraisals faster and more accurate than ever before. Using public records, comparables and other metrics, Bowery creates custom, data-driven reports that offer in-depth information to find the most accurate property appraisal value possible.

 

Flip

In cities like New York, Los Angeles and San Francisco, finding a legal, affordable sublet can be a serious challenge. And if you're on a lease and you need to leave town for a while, subletting your space without stress is just as difficult. Flip aims to make managing or finding subleases a breeze.

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