NAR Taking the Lead on Commercial Technology: Recap from REALTOR® Magazine and Create

Startups are bringing real estate solutions for everything from financial and property management to lead generation and more. Encouraging greater leading-edge technology development in the real estate space, Second Century Ventures have released the 2023 classes of their REACH Commercial program. 

The 2023 REACH Commercial companies bring solutions that fundamentally change commercial real estate operations, finance and brokerage, as well as how we manage, experience and understand the properties in which we live and work. We have an outstanding 2023 cohort and look forward to helping them achieve exponential growth."

- Bob Gillespie, executive director of REACH Commercial

For more information, and to view a complete roster of REACH 2023 classes, check out REALTOR® Magazine's REACH coverage.

Electric Vehicles Spark Change in Commercial Real Estate

Are electric cars a game-changer in commercial real estate? Deana Haynes, director of commercial real estate for ChargePoint, thinks so. In the article Sparking Change from the Summer 2023 issue of Create, Haynes says:

Those who are making decisions about leases … are making decisions around access to EV charging... It’s sort of like how an elevator is required for an office building: EV charging will just be part of the deal."

Haynes goes on to say: "EV drivers don’t drive to a place to get gas; they fuel up where they’re going. The transportation industry and the real estate industry are going through a fundamental shift in how they interact.”

NAR and RPR Provide Tools for Commercial Real Estate Pros

NAR and RPR are giving commercial members the tools they need to focus on what’s important to their business: identifying opportunities, serving clients and closing deals. REALTOR® Magazine outlines the 4 Pillars of Support for Commercial Real Estate Pros:

1. Gathering commercial inventory in one place. In 2018, NAR and RPR expanded the resources available to commercial real estate members. Partnerships with companies like Crexi, Brevitas and Biproxi, greatly expanded agents' and brokers' access to commercial listing data.
2. Bringing commercial members together. NAR held the first C5 Global Summit in 2021, giving members a chance to connect with leading players in the commercial real estate industry. For the 2023 event, NAR is partnering with the CCIM Institute to host the C5 + CCIM Global Summit, September 28-30 in Atlanta, GA, allowing attendees to meet innovators and stakeholders, as well as learn about the latest trends in commercial real estate, and more.
3. CompStak partnership. CompStak—an analyst-reviewed comp data and analytics platform—joined RPR to give commercial members access to CompStak Exchange. Members can earn 500 promotional credits for accessing CompStak's comps, as well as additional credits by uploading their own comps.
4. ICSC partnership. For retail-driven members, NAR partnered with ICSC, to offer special member pricing for all national and regional ICSC events. ICSC, which stands for Innovating Commerce, Serving Communities, is a “member organization for the advancement of the marketplaces industry,” defined as spaces for shopping, dining, work and play.