February 2024: PropTech Innovator Network Meeting Recap & Insights

By Modern.tech | February 16, 2024

The PropTech Innovator Network is a group of C-level PropTech executives who meet monthly to discuss the latest technology trends and receive unique insights from influential MLS & Industry leaders. On February 14, 2024, the Network welcomed special guest Ross Buck, CEO of Omni MLS. Originally inspired by his family to join the real estate industry, Ross now has a wealth of experience gained over the last 30 years. From a licensed agent in California to leading Associations in Mexico, Ross shared valuable insights on working internationally and with other cultures. 

 

Ross Buck Conversation Highlights

 

For technology companies considering going to market in Latin America, it's important to understand the differences and similarities in real estate practices between North America and Latin America. A notable difference is how countries vary working with escrow and title, however, Ross recommended that real estate transactions be approached in these countries in the same way you are accustomed.  While there are few differences in practices, the fundamentals of real estate transactions are surprisingly similar between Latin America and North America.

 

The potential for software vendors in Latin America is significant. The US market is the most organized real estate market in the world however, Latin America offers extensive business opportunities in the PropTech space. Countries like Brazil boast a large number of licensed agents and the growth is staggering. Key considerations for software in this region include multilingual capabilities and addressing inefficiencies in the real estate life cycle. There's a growing demand and excitement for modern technology (like agent websites, portals, CRMs), presenting several points of entry for software vendors. Ross also mentioned further opportunities with data. The government collects data sets for schools, flood data, earthquakes, etc., but there is a need for a software vendor to digest this data and make it available to the real estate industry. 

 

In short, Latin America is embracing change in the real estate industry. PropTech software is not only needed but being welcomed with open arms.

 

Member News & Events

 

Patrick Neely: Patrick A. Neely, LLC obtained MLS approval for their vow product.

Steve Brant: Offer1 has gained 100% growth and is also raising a new round.

Camilo Lopez: Several multi-billion dollar enterprises are considering investment at Infinite Creator as well as adoption of their service. Agreement reached to work with MiamiMLS. 2024 NAR REACH Company.  

Ted Adler: Union Street Media has launched several new turnkey layouts which they can quickly brand to fit their client's needs and launch an industry-leading website in days.

Shannon Quagliata: Open Houses Direct’s patent has been approved and published this February.

DeLinda Armstrong: RealtyTek has completed Virginia Innovation Partnership Corporation's January-February 2024 ICAP Cohort.

Meg Garabrant: CRS Data announced an innovative new partnership with Earth Advantage’s Green Building Registry (GBR). Through this new partnership, CRS Data’s MLS Tax Suite will connect to GBR’s proprietary API, displaying environmental and home performance information within real estate listings—including energy labels, solar installations, and green building certifications (LEED, EnergyStar, and more). 

Matthew Kuchar: Showami Founder Matt Kuchar was named Chairman of the MLS Committee for SWFLMLS in January.

Francis Gravel: Union Street Media has crafted a whole new set of turnkey website designs to make it easier for the newer agents to get started with their own IDX-integrated website.

Bill Andrews: RentSpree has recently partnered with Stellar MLS to provide innovative new rental tools to their almost 84,000 members.

Aaron Smith: CubiCasa has been named a HousingWire Tech 100 Award winner.

Bill Gaul: Builder’s Update has now secured over 700k licensed agent members and rolled out their patent-pending AI functionality controlled by voice.

Drew Knapp: A Greater Town has built a robust real estate portal into their national hyperlocal marketing site, intended to create connections among real estate agents, mortgage loan originators, real estate agents, buyers, and sellers, and they're looking for mortgage lenders to "own" it!

James Rogers: RealReports has hired Brian Preston as their new VP of Growth, and he has already been an amazing addition to their team.

 

About PropTech Innovator Network

Each month, Modern.tech highlights an industry executive who will delve into the intricacies of the organized real estate sector in an exclusive gathering of PropTech Executives. This presents an opportunity for PropTech Innovator Network members to expand their network with high-caliber individuals and acquire insights that are truly unique and unavailable elsewhere. Please request an invitation to join us each month.