REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Businesswire | April 18, 2023
Real Title, a digital closing platform that provides a seamless search to close experience for real estate professionals and their clients, today announced it has launched Real Escrow of California to perform escrow operations exclusively in California. Real Escrow is a California escrow company built on industry-leading technology to enable agents to deliver a faster, better experience for their customers. Acquired by The Real Brokerage Inc. (TSX: REAX) (NASDAQ: REAX) in 2022, Real Title’s expansion to California gives the company a presence in six states, including Florida, Georgia, Texas, and Utah, in addition to Arizona, which launched earlier this month.
Real Title expects to be operational in at least 10 states by the second half of 2023. To support its continued growth, the company recently hired Brad Miller as National Director of Title. A 17-year veteran of the title industry, Miller will oversee Real’s title and escrow teams nationally, national underwriting partnerships, workflow processes, and vertical tech stack.
“We’re thrilled to begin offering escrow services in California and to welcome Brad to the Real team,” Sean Daly, Real Title Founder and CEO, said. “California is the fastest growing state in terms of agent attraction for Real and, because we consider ourselves one of the most innovative title companies in the industry, we are excited to launch in a state that is home to incredible name-brand technology companies.”
Miller joins Real Title from OS National, LLC where he served as Managing Director of Title Operations since 2020. Earlier, he oversaw the operations of Opendoor Title Holdings, a joint venture between Opendoor and OS National. Miller spent nearly 14 years at Amrock, beginning his career in 2005 as a Team Leader in Tax and Title Operations before being promoted to Vice President of Title Operations, a position he held for nearly nine years. Miller holds a bachelor’s degree from Michigan State University.
About Real Title
Founded in 2019 as Expetitle, Real Title streamlines the paper and time intensive settlement process through an in-app experience that allows agents and their clients to track the progress of their transaction, communicate and upload and store documents though a secure, collaborative environment. Real acquired the company in 2022 as part of its vision to provide agents and their clients with an end-to-end technology-driven search to close experience.
About The Real Brokerage
The Real Brokerage Inc. (TSX: REAX) (NASDAQ: REAX) is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for home buyers and sellers. The company was founded in 2014 and serves 45 states, D.C., and three Canadian provinces with over 10,000 agents. Additional information can be found on its website at www.onereal.com.
REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
Roc360 | March 16, 2023
Roc Capital Holdings LLC (Roc360), a financial services platform for residential real estate investors, recently announced its completion of the previously announced acquisition of Finance of America Commercial (FACo) assets. Under the transaction terms, Roc360 acquired the operational assets of FACo, a Finance of America Companies Inc. division specializing in residential real estate investment loans.
Roc360 will give the brand a unique logo and execute it under a new subsidiary using its current name, Finance of America Commercial. It will join Roc360's growing collection of leading real estate’s brands, such as Haus Lending, Roc Capital, Elmsure Insurance, Wimba Title, and Tamarisk Appraisals. The FACo acquisition enhances Roc360's existing origination footprint in its retail and wholesale channels, and the acquired data will contribute to Roc360's data science initiatives. In 2022, the two companies collectively financed over $4.6 billion in loans for business purposes.
FACo traces its origins back over a decade to its forerunners, B2R Finance, Dwell Finance, and Jordan Capital Finance, innovators in the national private lending sector that provided fix-and-flip and landlord DSCR loans to real estate investors. It has funded over $6 billion to 9,000+ individual guarantors across 25,000+ closed loans via its broker channels and borrower-direct.
Arvind Raghunathan, Founder and Chief Executive Officer of Roc360, said, "Roc360 is committed to delivering innovative products and services that help rejuvenate and deliver new and like-new energy efficient homes to America's undersupplied housing stock." He also said, "The acquisition further broadens our reach and ability to make a difference. We will continue to pursue growth opportunities, including acquisitions, that expand our ability to provide solutions to real estate investors."
(Source – Cision PR Newswire)
Roc360 is a vertically integrated platform for residential real estate investors and one of the leading creators of business-purpose loans nationally. The company was established in 2014, employs more than 300 people and funded more than $14 billion in loans through its lending subsidiaries. It is based in New York City with offices across three continents. In addition, Roc360 joined the Deloitte Technology Fast 500, a ranking of the 500 North American companies with the fastest-growing media, technology, telecommunications, fintech, life sciences, and energy tech industries in 2022.
MARKET OUTLOOK, REAL ESTATE TECHNOLOGY
Addressable | March 15, 2023
On March 14, 2023, an end-to-end marketing solution provider Addressable, announced SmartCopy, that helps generate copy as a part of the company's card-writing platform. The new tool, SmartCopy, is powered by Open AI's GPT-3 to generate real estate marketing copy.
SmartCopy is designed to assist real estate agents in attaining listings through outreach with personalized handwritten mail by creating AI-generated letter copy. The feature generates highly customized and compelling marketing messages using Addressable's real estate performance data and GPT-3's powerful natural language processing capabilities.
SmartCopy offers benefits and features, including the ability to generate personalized messages at scale, highly customized content for real estate marketing and improved efficiency and effectiveness in acquiring listing appointments. The tool is now available for new and existing customers on the company's website.
Co-Founder and CEO at Addressable, Christopher Tosswill, said, "Addressable has always been committed to providing innovative solutions to help our customers grow their businesses. SmartCopy is a perfect example of this commitment." He added, "This feature will enable real estate agents to generate highly personalized marketing messages at scale, helping them acquire more listing appointments and grow their businesses."
(Source – Business Wire)
Addressable is a cutting-edge technology company offering a unique real estate marketing solution. Established in 2019, the Los Angeles, California-based company has provided innovative tools to assist real estate agents in their sales efforts. The company's patented robotic technology generates personalized handwritten letters, enhancing the customer experience and driving engagement. Its management team comprises experienced professionals, including former product manager at Facebook Christopher Tosswill and former Task Rabbit and SnowFlake Director of Engineer Mark Weaver, who bring a wealth of expertise. In addition, its innovative platform has proved to be a game-changer in the real estate industry, assisting agents in 44 states in generating over $1.5 billion in home sales since 2020.