Second Century Ventures, the venture capital arm of the National Association of REALTORS®, announced 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 sectors.
“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,” says 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,” says 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.”
For more information, please visit www.nar.realtor.
