While the use of proptech in times of pandemic is preferable to warp speed so that the enterprise can be operated virtually, technological innovation has streamlined real property transactions to further the cause of homeownership on a wider scale. And the National Association of REALTORSⓇ (NAR) is dedicated to the main cost. As noted by NAR CEO Bob Goldberg, “We haven’t been able to just sit at desks. We are now proud to own desks.”
Goldberg shared his reaction during a panel dialogue at this week’s Innovation, Alternative, Funding (IOI) Summit in Dallas, Texas. NAR 2021 President Charlie Opler and NAR Atten Canada Managing Associate Lynette Kievsky were joined by “Management Stay Q&A” moderated by Artisan Consulting CEO Heather Elias.
A longtime tech advocate, Goldberg could be the president of Second Century Ventures (SCV), the funding arm of NAR, which is the creator of the NAR Reach Accelerator program for proptech firms. During his 25 years at NAR, he has improved the niche where affiliations should take a management position in tech.
“How does NAR leverage our $5 billion model?” Goldberg made the request throughout the convention session. “Should we allow third party members to pass on technical information? We should be fearless, not intimidated. We are always nervous about arbitration, but the consideration for all of us should be, how do we forward it Will we increase it? Now we have to be a leader in the proptech sector.”
To that end, NAR has fairness investments in 150 different tech firms based on Goldberg, who commended NAR Management for supporting funding in proptech. He said that currently more than 600,000 NAR members use one of the affiliation’s many Second Century Ventures services.
Based on Opler, 2020 and 2021 have served to increase the requirement for the NAR to take a management position in technical know-how for its members. “So many of the tools that we introduced further allowed our members to do business seamlessly during the pandemic,” he said. “We thrived and we got through it, and we’ll go on to get through it.”
Goldberg emphasized that foresight was key to delivering the proptech desired during the pandemic. For example, a recent NAR survey showed that eSignatures has been the No. 1 most useful tech tool for realtors throughout the pandemic.
“Before anyone knew what DocuSign was, we put several seven figures in DocuSign,” Goldberg said. “Before the pandemic, we had invested in Notarize. People were puzzled that a non-profit trade association in the proptech sector could be such a pacesetter.
So packages such as the iOi Summit and its pitch battle contests for new tech companies have become integral to NAR’s agenda, as well as new firms that can be offered onboard through the Reach program each year. “It would not happen without the foresight of the management to create the infrastructure around the world,” she noted. “It places this group and its allies within the seat of power to not only navigate change, but to create change.”
Keyowski also emphasized the convenience of prop tech to benefit the larger initiatives around homeownership development. “Quite a new applied science is fundamental to the homeowner. The new innovation allows REALTORSⓇ to do what they really do effectively… put people in properties.”
“There are so many savvy founders out there who have taken the mission to help them overcome most of the challenges we see as a company,” Kievsky said. “Everything accelerated and REALTORSⓇ Now see how otherwise. It’s not nearly making my venture higher, it’s about raising the group.”
The technology can be relied on to help NAR advance its objectives around the Truthful Housing and Range, Opler said, an effort that has intensified since the fiftieth anniversary of the Truthful Housing Act in 2018. NAR has launched implicit bias coaching, an at house. With RangeⓇ certification and the all-new NAR Spire program, consultants and consultants work collectively to expand realtor portrayal in underserved communities.
“We will move to make this possible because we are doing all we can to end discrimination and support Truthful Housing,” Opler said.
“It is now our moral and ethical duty to be the drivers of Truefull Housing in this country,” Goldberg said. “Now we have to make sure that we offer business with the appropriate tools. How can we allow all these good technical tools and knowledge to create an extra honest system? We want revolutionary tech companies to come back to us. Will keep pushing forward so that they come up with better products and tools that can make this country a better place.”