As a city defined by rapid growth and a robust economy, Washington, D.C. has become one of the nation’s largest real estate hotspots. Over the past couple of years, housing prices have risen substantially across the city. According to a report from The Washington Post, the median price of a single-family home in 2019 was $660,000 — a notable contrast compared to the previous year, when similar homes hovered around $626,500. And as Washington’s tech scene continues to expand, locals can only expect housing prices to keep rising. With Amazon slated to open up a second headquarters in nearby Arlington, Virginia, it could be surmised that the city will continue to strengthen its economic prowess, leading to an increasingly competitive real estate market.
With so much change taking place in Washington’s housing market, now seems to be a prime time cash in on the city’s real estate industry. For many of the city’s resident techies, the housing boom has spawned a desire to reinvent the industry. The Washington area has become a leading real estate tech hub, with companies tackling a wide range of industry challenges such as home-buying, investing and even pre-sale renovations. As the housing market continues to grow in competitiveness nationwide, these companies are utilizing the latest technologies to make entering and succeeding within the real estate realm much easier. Here’s a look at 14 real estate tech companies in the Washington area turning the housing game on its head.
Real Estate Tech Companies in DC to Know
What they do: Homesnap aims to reinvent the way real estate agents connect with consumers. Leveraging real-time MLS data, the company’s platform makes it simple to search for and share homes with friends, clients and colleagues, offering access to HD photos, school attendance zones, property history and more. Homesnap’s app gives buyers immediate access to new listings, price changes and other market updates.
Who they work with: Real estate agents and home buyers.
What they do: Remine seeks to reinvent the home-buying experience by bringing together home buyers, sellers, real estate agents and lenders on a single platform. The company’s platform is designed to deliver greater access to data, improve transparency and offer assistance within the transaction process. Operating across North America, Remine is committed to helping real estate professionals develop their businesses while staying connected with their clients.
Who they work with: Real estate agents and home buyers and sellers.
What they do: Fundrise has developed a simpler, low-cost way to invest in institutional-quality real estate. The company’s platform helps investors acquire high-quality assets for less than their perceived intrinsic value and replacement cost, while the company works to increase the value of each asset over time through hands-on management. Fundrise’s app allows investors to watch their assets evolve and stay up-to-date on milestones like construction progress, occupancy reports and market data trends.
Who they work with: Real estate investors, developers and operators.
What they do: Launched by Helen C. Renninger and Satadru Sengupta, Dobby offers people a smarter way to manage, maintain and upgrade their homes through the use of AI and digital transformation. The company’s app is designed to connect homeowners with local service providers, allowing them to log maintenance orders and receipts in order to save money and increase the asset value of their home. Service providers can easily coordinate with homeowners through Dobby’s app without paying an upfront subscription fee.
Who they work with: Homeowners, service providers and real estate agents.
What they do: Hoozip aggregates real estate data in an effort to drive data analysis across real estate marketplaces and deliver deep marketing insights. The company offers instant access to property data including the history of a property, its ownership status and potential title issues. Hoozip’s skip trace technology is designed to help users avoid purchasing titles for deals that do not meet their buy criteria, offering access to information such as owners’ phone numbers and bankruptcy data.
Who they work with: Real estate investors, mentors and group leaders.
What they do: WhyHotel gives travelers access to new, fully furnished apartments as an alternative to hotel stays. The company’s properties are designed to have the reliability and consistency of home, equipped with features like full kitchens, washer/dryer units and walk-in closets. WhyHotel currently operates in cities across the country including Seattle, Houston and Baltimore.
Who they work with: Brookfield, Camden and Equity Residential.
What they do: Curbio is dedicated to helping home sellers with pre-sale renovations. The company takes the hassle out of home renovations by handling ordering materials, scheduling deliveries, hiring subcontractors, pulling permits and serving as a single point of contact. Curbio’s aim is to help homeowners sell their homes for the best possible price so they can make more money.
Who they work with: Real estate agents and home sellers.
What they do: Till provides financial tools that help renters pay for and stay in their homes. The company’s Flexible Rent plan allows renters to pay for a portion of their rent each time they get paid rather than on the first day of the month, thus freeing up extra cash so they can eventually pay their rent on time. Landlords can enroll their property on Till’s website, thus gaining access to increased property value and cash flow.
Who they work with: Renters and landlords.
What they do: AreaProbe provides real estate analytics to developers, investors, property owners and financiers. The company’s proprietary platform is intended to reduce turnaround time on research and analysis projects, allowing users to analyze housing supply and demand needs to mitigate the risk of overbuilding. AreaProbe also aims to help its clients source capital more efficiently by interviewing lenders and matching their deals with suitable capital sources.
Who they work with: Developers, investors, property owners and financiers.
What they do: Padfinders helps renters find apartments through a free personalized matchmaking service. The company’s platform enables apartment seekers to receive information about available local units, access special deals and schedule tours. Those looking for new roommates can also post available rooms on Padfinders’ website.
Who they work with: Greystar, Aimco and Bozzuto.
What they do: RealAtom has developed software for securing CRE loans. The company’s cloud-based platform is designed to make loan closings simpler for capital markets advisors and help investors and owners find the best lender for their commercial project. RealAtom alerts lenders with loan requests from qualified borrowers so they can increase their lending pipeline and close more loans.
Who they work with: Capital markets advisors, lenders, investors and owners.
What they do: Founded by Gordon Wood, WhoHub offers an app that connects real estate agents with resources, trusted vendors and clients. Real estate brokerages can use the company’s app to disseminate important updates about office news and events, store information about vendors and share relevant information with prospective and current clients. WhoHub’s ultimate aim is to enable real estate brokerages to easily communicate and access critical documentation and resources for a mobile workforce.
Who they work with: Real estate brokerages.
What they do: FiveStreet has developed an automated lead response and routing system with the intention of helping real estate agents build relationships and close more deals. The company’s technology is designed to automatically broadcast leads to an agent’s team and review prospect and property details, giving agents the option to explore an interactive chart showing received and referred leads. FiveStreet’s central purpose is to help agents consolidate their leads and keep them warm through automatic emails and customizable text messages.
Who they work with: Real estate agents.
What they do: Federa operates as a full-service flat fee listing brokerage. Home sellers can use the company’s platform to list their properties, working alongside a listing specialist who manages showing requests, handles transactional procedures and coordinates settlement documents. Federa’s app grants users access to property profiles and local real estate agents while giving them the chance to share and promote listings.
Who they work with: Home sellers.