Second Century Ventures, the venture capital subsidiary of the National Association of Realtors, has invested in RealX to expand its property rights exchange platform.
Through RealX, customers can buy, sell, and lease property rights, which includes selling or leasing both the land's surface rights (for solar, wind, cell towers, timber, etc.) and subsurface rights (minerals, oil, gas, etc.).
Since its launch last year, RealX has registered over 6 million acres on its platform. Second Century's investment will enable the start-up to extend its offering to realtors nationwide who can register their client's land in RealX, as well as to third-party corporations in need of access to their property.
“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," said RealX co-founder and CEO Luke Glass. "Now, they can partner with their trusted real estate professional using a known exchange that provides accuracy, transparency, and automation."
“We are excited to make this strategic investment in RealX as it introduces a new asset class for realtors to transact,” said Mark Birschbach, senior vice president of strategic business at NAR. “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.”