NAEA Propertymark in PropTech deal to promote start-ups

NAEA Propertymark is partnering with a service called REACH UK, to promote selected PropTech start ups to agents who may need help navigating through the plethora of suppliers.

REACH is backed by NAEA Propertymark’s partner in the United States, the National Association of Realtors.

Selected PropTech start-ups covering areas like marketing, transaction management, payment automation and agent safety will be entitled through the scheme to have access to international estate agency events and conferences, mentoring by agency leaders and other technology experts, and tuition on how the agency industry operates worldwide. 

The US scheme has so far led to PropTech partnerships between start-ups and some agency names familiar in the UK, too, including Coldwell Banker, RE/MAX and Berkshire Hathaway HomeServices. 

The REACH UK application process will open on July 31 and close on September 30 with selected companies announced in November. From next February onwards the selected operators will start the programme of international exposure to agencies. 

“PropTech is an exciting and growing industry in the UK and the launch of REACH UK’s scale up programme comes at a time when many start-ups will be concerned about their future as a result of Covid-19” explains Mark Hayward, the outgoing chief executive of NAEA Propertymark.

“This programme will allow them to develop a piece of technology that will make a difference from the very beginning, with early engagement from the sector to make sure that the products work for property agents. We have seen that the programme has had great success in the US and look forward to working with the team to see PropTech businesses flourish” he adds.

And Valentina Shegoyan, the managing partner of REACH UK, adds: “We are excited to work with Propertymark to share the mission of equipping estate agents with the right tools and transforming the industry to reinforce that estate agents remain essential to consumers. We also provide the industry with unique access to programme participants where they can provide direct feedback to help shape and drive the technology. Estate agents will be able to access exclusive insight via our Insight Panel.”