Faq

Frequently Asked Questions

Your Guide to REACH

Real Estate Focus

  • Why do we have an Accelerator focused on Real Estate?

    The real estate industry accounts for 15 percent of the U.S. economy, over $12.5 billion of ad spend and 2.5 million jobs with its related professions. There are over $1 trillion of transactions in residential and commercial real estate and housing and other home services accounts for an additional $1 trillion. Over $45 billion are generated in commissions amongst more than 1.37 million REALTORS®, 100,000 brokerage offices and 12 million consumers. In short, the real estate market is huge and it is ready for innovation. Companies approach us requesting to access and navigate the landscape. Practitioners in the marketplace ask us to weed through the noise and to help them find the best solutions that will allow them to conduct their business faster and more efficiently.

    We are in a unique position to leverage our expertise to identify best-in-class solutions and provide a bridge between those that are looking for help with those that can provide it.

About the Program

  • Who should apply?

    If you would agree with one or more of the following statements, you should apply:


    • You are interested in tapping into a multi-trillion dollar market
    • You are interested in leveraging a $5 billion brand to tap into that market
    • You have a technology that is bringing innovation, efficiencies and value to marketplace; the real estate vertical is applicable to that marketplace.
    • You could use a group of your target customers to beta test your product
    • You could use the input from your target customers to refine your product
    • You are ready to work relentlessly with us with the aim to increase the value of your business multi-fold in 8 short monthsWe are in a unique position to leverage our expertise to identify best-in-class solutions and provide a bridge between those that are looking for help with those that can provide it.
  • How is REACH different from other Accelerator or growth programs?

    REACH is looking to catapult you into a defined marketplace. We will use our connections to guide you in all things Real Estate while helping you to define a well rounded business.

    We work closely with other accelerators and incubators and welcome anyone who has graduated from Excelerate, TechStars, DreamIt, YCombinator and other great programs to apply to NAR REACH for targeted outreach, ongoing coaching and support.

  • We have already been through an Incubator/Accelerator program. Does it make sense to do this too?

    Yes, if you are looking to take advantage of the opportunities this industry vertical can provide. While other Accelerator programs provide some similar functions and many significant benefits, REACH’s differentiating factor is a focus on education, mentorship and market exposure around access to the trillion dollar real estate market and the strategic expertise NAR can bring.

    Please see above regarding who should apply

  • Should I apply if this idea/company is a part time gig?

    No. We expect founders and teams to be committed to their companies 100%

Program Benefits & Costs

  • What is the format of the REACH program?

    REACH will accept 6 to 10 companies per year and will provide access to one of the world’s largest industries as well as access to NAR, one of the most powerful forces in that industry. Participating companies will interact with some of the most highly regarded executives, digital entrepreneurs, and practitioners in the industry who run, manage or have sold companies with a combined multi-billion dollars of revenues in real estate alone. See the Program Structure & Schedule for details.

  • The value you should expect from partnering with REACH:
    • Association with NAR and its $5B brand
    • The opportunity to penetrate the market exponentially faster than you could on your own
    • Guidance to develop a defined strategy for your company within the Real Estate Market – the methods used to get there can be used for other markets
    • A vast network within the industry
    • Exposure to 1.3M REALTORS® through the National Association of REALTORS®' National and Global network.
  • How will the REACH mentor sessions help my business?

    Listen to what the 2014 and 2013 classes had to say about their mentor sessions.

    Watch Mentor Video
  • Is REACH a turnkey marketing program?

    No. We will work with NAR to offer a campaign to communicate and educate the industry about the REACH Program and its chosen class of companies. We will recommend that you coordinate your own marketing campaign alongside ours to achieve the best results. We can help you identify tools most effective for suiting this purpose within the constraints of your budget and stage of business.

  • What is REACH's track record?

    We've lead dozens of companies through the program since 2013. You can see highlights of their successes in our infographic on the topic. Our goal is to help make every one of the companies as successful as those within our NAR Family of Investments. Hear what the 2014 & 2013 graduates had to say about their experiences in the program.

    Class of 2014 Testimonials

Location

  • Where is the program? Do I have to relocate? Will you provide workspace?

    REACH® is based at NAR’s headquarters in downtown Chicago.

    You do not need to co-locate to be part of the NAR REACH® program. We do expect that the founders will be present for key events and various points throughout the program. Founders should expect to be onsite at REACH® or to be attending other industry events approximately one week per month through the duration of the program.

Application Process

  • When can I apply?

    Applications for the 2020 REACH and REACH Commercial classes will open on December 1, 2019 and will close on January 31, 2020. Applications for the 2021 REACH Australia class will open in late 2020.

    Companies will be accepted on a rolling basis so your chances of acceptance decrease as the deadline approaches - get your applications in early!

  • Do I need a business plan?

    Don’t waste your time writing a lengthy word document. Your startup is fluid, a lengthy business plan becomes outdated the minute you hit save. A stellar application will however have 5 – 10 slides defining your product, market and growth strategy for your business. The application itself provides more detail on what we expect.

  • Are you taking applications from international companies?

    Yes, if the entrepreneurs are both willing to come to the US for the program and are legally qualified to work here during that time.

  • Will you sign an NDA?

    No. We do not sign NDAs. Be rest assured, however, that your application is shared only within the REACH Team. As you embark on growing your business, keep in mind that ideas are cheap and it’s the execution and team that are the key determinants of success for any business. You are more likely to benefit from sharing your idea freely and gather as much feedback as possible to help you refine your plans than to be at risk from someone stealing your idea. Tell us as much as you feel comfortable sharing without an NDA, keep in mind that we will not interview everyone so all we have to go on in our selection process is what you share with us in your application.

  • Do you interview applicants?

    Yes, we will select 15 – 20 companies to conduct interviews virtually.

Selection Process & Criteria

  • What type of companies do you look for?

    The following are some of the criteria we will use when assessing your application:

    • We are most excited about technology companies that have applicability in multiple industries of which real estate is one of them.
    • All qualifying applicants will have applicability in the real estate vertical, and in particular can help provide value to our constituency
    • Teams will consist of entrepreneurs with the potential to build companies that are leaders in their market
    • Those companies with a shipping product are the most likely to be accepted but we welcome all applications that are highly scalable with huge potential.
    • See NAR Family of Investments for the representative investments we have made in the past.

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