Tech Nest: The Proptech Podcast

We've got a solid interview for y'all this week. Raunaq Singh, Founder and CEO of Roam, comes on the show to discuss their platform for purchasing homes using assumable low-rate mortgages. Raunaq digs into the history of assumable mortgages, the potential size of the market, and the challenges and opportunities for buyers and sellers. Raunaq also explains how Roam is working with agents, and is addressing misconceptions about assumable mortgages. We discuss the potential impact on real estate transactions as a whole nationwide—but also how much education is necessary to drive that impact. We also get into the benefits for both buyers and sellers, the underwriting process, and the future trends in the real estate market. Listen in!More about Ranuq and RoamRoam is a platform that enables homebuyers to purchase a home with an assumable low-rate mortgage included and save up to 50% on monthly payments compared to buying the same house with a traditional mortgage. To date, Roam has helped buyers save $12k per year and $350k over the life of their loan compared to taking out a new mortgage. To date, over 500k buyers have used Roam to find their next home with a low-rate assumable mortgage.Raunaq Singh is the founder and CEO of Roam, the platform for purchasing a home with an assumable, low-rate mortgage included. Prior to founding Roam, Raunaq spent a decade in various product and operations roles across Uber, Opendoor, and Culdesac. He received a Bachelor's degree in Political Economy from NYU and currently resides in New York City.Connect with Raunaq on LinkedInFollow Raunaq on TwitterFollow Roam on TwitterCheck out Roam

9 Jul 202439min

Have we all been ignoring opportunities to uncover inventory? Amanda Orson, Founder and CEO of Galleon, reveals the hidden potential in the real estate marketplace by exposing inventory not visible on the MLS. She shares insights on industry challenges and opportunities, and how technological advances are revolutionizing real estate transactions.Amanda discusses why the traditional 3% buyer's agent fee may soon be obsolete and the need for a pragmatic industry outlook. That's not to say buyer's agents can't or won't be paid in the future—just that it's time to re-evaluate how we're doing things. She addresses the detrimental trend of denying the need for change and emphasizes preparing for a dynamic future.Listen in to learn about Galleon's goal to become the largest network of off-market, non-MLS inventory in the U.S. More about Amanda and GalleonGalleon is reshaping real estate by providing a commission-free, by-owner marketplace where anyone can list their home in minutes and transact on their own terms.Amanda Orson is the Founder and CEO of Galleon, the direct consumer-led real estate marketplace. As a serial entrepreneur and tech executive, prior to Galleon, she was the CEO of Curve US, leading the British fintech's expansion in the United States. Follow Amanda on TwitterConnect with Amanda on LinkedInFollow Galleon on TwitterCheck out Galleon

2 Jul 202434min

I'm super excited for this episode's guest, Lior Abramovich, co-founder and CEO of Blanket. Blanket is a property retention platform, designed to help property managers reduce churn and better inform owners.  Discover how Blanket launched to immediate acclaim and rapidly assembled a team driven by a shared mission. Lior outlines the dual aspects of their service: an owner investment dashboard that offers real-time metrics, educational tools, and AI-driven insights, alongside a marketplace exclusive to property managers. This marketplace not only facilitates property sales, enabling managers to maintain management and earn commissions but also acts as a potent tool for client retention and lead generation. Amidst a shifting financial landscape and evolving industry regulations, Blanket's approach redefines property management as investment management, positioning property managers as essential, trusted advisors in the real estate sector.More about Lior and BlanketBlanket is a Property Retention Platform that helps property managers keep their owners happy and their doors under management so their businesses can thrive.Lior Abramovich is the Co-Founder & CEO of Blanket, bringing a decade of experience in the single-family rental market with over $150 million worth of acquisitions for over 1,000 individual investors. Lior served for 8 years as Naval Commander in the Israeli Navy and has co-founded a non-profit organization that renovates homes of senior citizens in need, and a foundation that has set on a mission to ensure every child in the world has access to clean drinking water.Follow Lior on TwitterConnect with Lior on LinkedInFollow Blanket on LinkedInCheck out Blanket

27 Jun 202445min

He's back! Nima Wedlake, Managing Director at ThomVest Ventures, about the current state of Proptech and the themes he is tracking for 2024. We focused on an essay Nima penned, covering several topics including control point software, AI's impact on construction productivity, and the rise of home services businesses. Nima discusses the challenges and opportunities in scaling tech-enabled service businesses and the potential of AI in the construction industry. The conversation also touches on the impact of COVID-19 on real estate tech investments and the future of venture capital in the space. We also explore the role of real estate agents in a changing market and the impact of technology on the industry (spoiler: uncertainty exists, but so will the agent). More about Nima and Thomvest VenturesNima has published his 2024 proptech themes and would love to discuss them with you. Here is the link to the full report: https://blog.thomvest.com/real-estate-technology-themes-were-tracking-in-2024-124a5280c3ddBelow is a very quick overview of the three key themes that will play a dominant role in 2024 for Nima.“Control point” software businesses in real estate: These crucial systems are core to how businesses operate and are difficult to displace. Three strategies for new entrants to compete in this space include targeting new customer segments, building value around existing control points, and selling complete tasks or processes instead of just software tools.AI’s impact on construction productivity: There is growing excitement around startups focused on using AI in various aspects of construction, from pre-development analysis and permitting automation to design cycle shortening and physical robot automation on construction sites.Residential real estate in a post-NAR world: Following the NAR settlement on residential real estate, lower commissions may lead to agents seeking efficiency measures and could pose challenges for existing real estate companies, while also creating opportunities for innovation and competition in the industry.Nima Wedlake is a Managing Director at Thomvest Ventures, focusing on investment opportunities across the real estate & financial technology verticals. He spearheaded Thomvest’s investments in Baselane, Blend, Glide (acquired by Compass), Keyway, Maxwell, Mynd, Obie, Pine & Tala. Thomvest Ventures is a San Francisco-based $750M evergreen venture capital fund by Peter Thomson (Thomson Reuters). Follow Nima on TwitterConnect with Nima on LinkedInCheck out Thomvest

25 Jun 202444min

This episode is focused on tech providing the means to execute the basics, at a high level, for real estate agents, teams, and brokerages. Vijay Gopalswamy, founder and CEO of Traxy, a deal-tracking tool for real estate professionals, shares his story of why he started Trackxi due to a void in the market for a great transaction coordinating platform. Vijay got into real estate as an agent, so he's very familiar with the pain of transaction coordination and that led him to create a solution.Vijay discusses the challenges agents face and how Trackxi aims to simplify transaction management. We also go into some of the trends impacting brokers, as well as touch on AI usage in real estate. Tune in to learn how Trackxi is working to change how agents handle deals and enhance their services.More about Vijay and TrackxiTrackxi is Real Estate's # 1 Deal Tracker, designed for Agents, Teams & Transaction coordinators. Transparency for everyone else. Demonstrate your value to your buyers & sellers, automatically.Essential tool for agents. Designed by a practicing agent team. Simple and elegant user interface packed with powerful features that can truly help your business.Follow Vijay on TwitterConnect with Vijay on LinkedInFollow Trackxi on TwitterCheck out Trackxi

21 Jun 202431min

More about BrainBox AI and Jean-SimonFounded in 2017, BrainBox AI was created to address two critical issues currently facing the built environment: carbon emissions and energy consumption. As innovators in the decarbonization movement, BrainBox AI’s game-changing HVAC technology leverages AI to make buildings smarter, greener, and more efficient. Through strategic global relationships, BrainBox AI elevates real estate clients across various sectors from office buildings and hotels to commercial retail, grocery stores, airports, and more.BrainBox AI’s tech results in up to 25% reduction in total energy costs, up to 40% decrease in carbon footprint, and up to 60% improvement in occupant comfort, and extends HVAC equipment life by up to 50%. The tech provides intuitive data visualization of automated emissions data collection, tracking, and reporting via dashboard or downloadable documentation.  In 2020, BrainBox AI was recognized by TIME as one of the Top 100 best inventions and by CB Insights as one of the Top 100 AI start-ups redefining industries in 2021. The company is also a member of the MaRS Discovery District, the largest urban innovation hub in North America. BrainBox AI was selected as the winner for the Tech For Our Planet Challenge from a cohort of ten finalist start-ups at the United Nations Climate Change Conference (COP26) in 2022. Jean-Simon Venne is a co-founder and CTO of BrainBox AI. BrainBox AI’s technology leverages artificial intelligence to improve building operational efficiency while reducing energy consumption and costs. Combining machine learning, cloud-based computing, and self-directed decision-making, BrainBox AI enables the Heating, Ventilation, and Air Conditioning (HVAC) system in a commercial building to operate autonomously and in real-time, generating up to a 25% reduction in total energy costs, 20-40% reduction in carbon footprint and 60% increase in occupant comfort. As a technology expert specializing in the fast and efficient migration of technological innovations to commercial applications, Jean-Simon has over 25 years of experience developing and implementing new technology to solve long-standing commercial issues in the fields of telecommunications, biotechnology, and energy efficiency. Connect with Jean-SimonFollow BrainBox AI on TwitterCheck out BrainBox AI

19 Jun 202436min

Mike Simonsen, President of Altos Research, joins Tech Nest today to discuss real estate data and some of the myths around mortgage rate lock-ins. Altos Research offers local and national real estate data to financial institutions, real estate pros, and investors. Simonsen reveals that the lock-in effect started in 2014, not 2022, due to falling mortgage rates making homeowners hesitant to sell. He highlights the importance of viewing data from various angles and explains how Altos Research tracks the active market, focusing on pricing, inventory, and trends. Altos Research just recently announced a new product feature, adding pending data to show properties under contract, giving a quick, accurate market snapshot. Mike also shares insights as to how the future of real estate data will see more sources and better analysis, though affordability issues will likely remain (sadly). Despite affordability challenges, purchasing a home is expected to get simpler as advances in tech could lead to faster underwriting and quicker closings, streamlining the home buying process.More about Mike and Altos ResearchAltos Research tracks the US real estate market in real-time. For over 15 years the company has provided national and local real estate data to financial institutions, investors, and tens of thousands of real estate professionals across the country.Altos Research was acquired by HW Media in December 2022.Mike Simonsen is the founder and president of real estate analytics firm Altos Research, which has provided national and local real estate data to financial institutions, real estate professionals, and investors across the country for more than 15 years. An expert trendspotter, Mike uses Altos data to identify market shifts months before they hit the headlines and his work has been featured in the New York Times, The Atlantic, Fortune, Bloomberg, and other publications. Connect with Mike on LinkedinFollow Mike on TwitterFollow Altos Research on TwitterCheck out Altos Research

13 Jun 202446min

Chet Kittleson, Co-founder and CEO of Far Homes, shares how the company is simplifying international home buying. Born from the pandemic's remote work trend, Far Homes helps people buy and sell homes abroad, starting with Mexico. They offer a thorough real estate search platform, connect buyers with local agents, and focus on high-demand markets like Cancun and the Riviera Maya. Far Homes aims to be the go-to for global cross-border purchase financing, with tools like the Financing Finder making the process easier. One thing Chet points out is that despite all the possibilities with technology, agents remain a vital part of the equation when it comes to buying real estate both abroad and domestically.More about Chet and Far HomesFar Homes is a real estate company that is making it easier to find and buy homes in international destinations in a world where more and more people can live and work anywhere. Founded by real estate industry veterans in 2022, the company is working to simplify the international home-buying and selling experience through a technology-powered marketplace. Far Homes has built a database of pre and new-construction, and existing homes for sale making it easy to find the home you want. The company has a bilingual customer service team who respond quickly, and a network of local, multi-lingual partner agents with experience helping buyers from outside the country navigate the home buying and selling process.Far Homes has raised more than $2 million from PSL Ventures, Redfin CEO Glenn Kelman, and DoorDash co-founder Evan Moore, among others.Chet is the CEO of Far Homes, a US-based real estate start-up focused on simplifying the international home-buying experience. Chet started Far Homes in 2022 when the rise of remote work gave more people than ever the opportunity to live and work anywhere in the world, dramatically increasing the need for support in finding and buying a home in another country. Prior to starting Far Homes, Chet spent 6 years at Redfin where he first led New Ventures, building off his strong background in partnerships to create millions of dollars in high-margin revenue before becoming the GM of Marketplaces. Connect with ChetFollow Far Homes on TwitterCheck out Far Homes

13 Jun 202439min