Tech 200: Moving closer to real estate’s 'holy grail'
T3 Sixty’s assessment of who's leading in real estate tech includes 199 products from 78 companies.
- T3 Sixty’s 2023 Tech 200 identifies leaders moving the industry closer to the “holy grail” of an end-to-end experience.
- Constellation Real Estate Group leads the way with 14 products in the Tech 200.
- The list caps an eventful year of acquisitions and mergers.
No tech company has succeeded in building a product that can take a real estate transaction from start to finish — but some are getting close.
To highlight the companies making the most progress across all facets of real estate tech, T3 Sixty released its 2023 Tech 200, which identifies the leading technology products in the real estate industry. (Note: T3 Sixty and Real Estate News share the same founder, Stefan Swanepoel.)
"The goal of the Tech 200 is to provide unbiased, vetted information on leading products that brokers and agents use as they make key software decisions for their businesses," said Travis Saxton, T3 Sixty's executive vice president of technology.
The products are broken into several categories based on which part of the real estate process the software serves. The "top of funnel" section, for example, includes categories covering lead generation and other early consumer contacts. New to the list in 2023 is "platforms," which highlights products that handle multiple levels of the real estate transaction.
"While we work with dozens of clients who are looking for single-use products they can plug into their tech stack, we also know that the ideal end-to-end platform remains the 'holy grail' of real estate technology," said Saxton. "With so many companies building and acquiring technology to create an all-in-one solution, it was time to specifically call out today's leaders in that field."
The Tech 200 lists 199 products from 78 companies. Leading the way is Constellation Real Estate Group, a software acquisition firm that has 14 products in the Tech 200. Lone Wolf Technologies has 12 products featured, while Elm Street Technology, Inside Real Estate and MoxiWorks each have eight.
The list also reflects changes to the tech landscape in a year marked by acquisitions, many of which were prompted by the goal of creating that elusive end-to-end platform. One of the larger acquisitions — Inside Real Estate's purchase of BoomTown — was announced in January.
With the ongoing volatility in the economy, Saxton said acquisitions have slowed, along with the overall real estate technology market. As a result, brokerages, MLSs and associations are focusing on efficiency and extracting the most value out of their current tools and technology strategies rather than buying more tech.
"We think we have hit the peak from the number of products the enterprise market has in their technology stack," Saxton said. "Now it's time to make sense of the technology acquired in the past 2-3 years."