Second Century Ventures Makes Investment in Top Property Exchange Network
CHICAGO (March 18, 2020) – RealEstateRama – Second Century Ventures, the venture capital arm of the National Association of Realtors®, announced today that it has made an investment in RealX, an exchange to buy, sell and lease property rights. Property rights include leasing land’s surface rights for solar, wind, cell towers, timber and other uses; as well as selling or leasing subsurface rights for minerals, oil and gas, among others.
RealX has had over 6 million acres registered in its exchange since its official launch in late 2019 and continues to increase both acreage and offers received at a rapid pace. RealX’s mission is to unlock the value of every property, both for the landowner and corporations that may need access to the land. This investment will allow RealX to expand its offering nationwide to Realtors® who can then register their client’s land in RealX, making the land available for offers from third party corporations across energy, communications, agriculture and building materials.
“Individual landowners are met with a host of difficulties when thinking about how to use their land in the best ways possible, including how to identify all the opportunities for their land to generate revenue, how to market it broadly, what to negotiate and who to trust. Now they can partner with their trusted real estate professional using a known exchange that provides accuracy, transparency and automation,” said RealX co-founder and CEO, Luke Glass.
RealX’s innovative platform digitizes content and provides a completely virtual transaction process. Property buyers enjoy an easy-to-use, map-based interface to quickly find available acreage that allows them to improve their current positions or enter a new area quickly.
“We are excited to make this strategic investment in RealX as it introduces a new asset class for Realtors® to transact,” said Mark Birschbach, NAR’s senior vice president of Strategic Business, Innovation & Technology. “RealX is empowering Realtors® to expand the value proposition they deliver to their clients and to create unique and incremental growth for their businesses. Additionally, RealX supports landowners’ ability to control how their land impacts our collective future in energy, communications, food and building materials.
About RealX
RealX is revolutionizing the way property rights are bought, sold and leased in the U.S. by leveraging digitization, globalization and virtualization across all marketplaces. This includes property rights for energy companies (solar/wind/oil/gas), communications (cellular towers), building materials (timber), agriculture (farming), and many others. RealX aims to unlock the value of every property by facilitating its exchange while empowering each party to maximize the return on their investment, from landowners receiving new funds for the use of their properties to corporations acquiring and harnessing the value of the land. Learn more at www.realx.io.
About Second Century Ventures
Second Century Ventures is an early-stage technology fund, backed by NAR, which leverages the association’s more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. SCV systematically launches its portfolio companies into the world’s largest industries including real estate, financial services, banking, home services and insurance. SCV seeks to define and deliver the future of the world’s largest industries by acting as a catalyst for new technologies, new opportunities, and new talent.
The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
News media contact information for RealX:
Kevin Hawkins | 206.866.1220
