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REACH Australia and the Real Estate Institute of Queensland (REIQ) have inked a deal that will amp up support of emerging proptechs.
REIQ will lend support in providing its specialist knowledge to the innovators looking to shake up the sector. Meanwhile, the institute stands to gain by being on the front line of new technologies.
As REIQ chief executive Antonia Mercorella explained: “This exciting partnership means that REIQ members will gain early insight and behind-the-curtains access to the emerging and cutting-edge proptech coming from Australia and abroad.
“Equally, the best and brightest emerging proptechs in the program will benefit greatly from access to practical insights from Australia’s leading real estate practitioners and industry heavyweights. It’s a win-win for all”.
Established in 2013, REACH is backed by the venture arm of the US-based National Association of Realtors, Second Century Ventures. So far, the company has shepherded 160 companies globally through its incubator program.
REIQ has had an ongoing association with the tech breeding ground, with Ms Mercorella and REIQ board chair Peter Brewer already tapped to serve as mentors in the 2022 REACH Australia program. The announcement of this partnership formalises the sharing of expertise and ideas between the two entities that has been ongoing for a number of years.
“It’s incredibly rewarding to be helping to shape the concept development with the insights and understanding of what REIQ members and Queensland real estate professionals need to enable them to improve their day-to-day business activities,” Ms Mercorella said.
REACH Australia’s managing partner Peter Schravemade commented on the benefits that property sector tech entrepreneurs stood to gain from solidifying this relationship.
“Formalising this partnership is a logical evolution of our respective organisations’ focus on fostering, investing in, and mentoring start-up tech that’s designed to keep real estate agents front and centre of the real estate transaction,” Mr Schravemade said.
“We are proud to be partnering with a leading organisation such as the REIQ that are recognised for their impactful engagement and influence, and who intimately understand the everyday pain points that real estate professionals need help alleviating.”
Ms Mercorella added that it was a great step in her ambitious goals for attracting innovators to the Sunshine State.
“My vision is for Queensland to be the epicentre of proptech in Australia and our state already has some fantastic emerging technology,” Ms Mercorella said.
“To aid this, we will be working with all levels of government to ensure the right regulatory conditions exist in Queensland and across the country to give these companies every chance of success.”
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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