Tech Bytes
Illustration by Lanette Behiry/Real Estate News

Tech Bytes: News from SentriLock, CubiCasa, Compass, more 

SentriLock signs Alabama associations; CubiCasa adds 10 MLS partners; Compass unveils Performance Tracker; Far Homes releases Mexico financing tool; more.

Updated July 31, 2023
5 minutes

Editor's note: Technology is a driving force in real estate. From startups to established players, tech companies are constantly innovating, growing and forging partnerships. Here we highlight some of the latest news about the companies that help power the industry. 

Alabama associations sign up with SentriLock

SentriLock announced that six Alabama Realtor associations have chosen its lockbox platform.

"This is a significant moment for SentriLock as we continue to expand our family of customers and strengthen our presence in Alabama," said Scott Fisher, CEO of SentriLock. "As a 100% National Association of Realtors-owned member service, we take immense pride in delivering exceptional customer and member experiences, and we're delighted to offer these associations the ease and efficiency of swapping to SentriLock as their chosen lockbox solution for MLS and Association services."

The Montgomery Area Association of Realtors, Tuscaloosa Realtors, and the associations supporting the Huntsville-based Valley MLS have all adopted SentriLock's system, solidifying SentriLock's position as the most widely used lockbox platform across the state of Alabama. 

SentriLock claims to offer the first combined solution for managing property access, real estate showings and client experiences.

Floor plan app provider CubiCasa expands MLS program 

Real estate software company CubiCasa has announced the addition of 10 MLS organizations, doubling the number of participating MLSs in its program to provide floor plans for listings.

CubiCasa's MLS Program offers participating members a range of benefits, including access to free floor plans generated by the CubiCasa app, discounted rates on optional add-on features, a directory of trusted real estate photographers, and reliable digitized property information.

The latest MLS organizations to join the program, which launched in December, are Bay Area Real Estate Information Services, Colorado Real Estate Network, Central Jersey MLS, MiRealSource, Buffalo Niagara MLS, Classic MLS, Big Sky Country MLS, Cooperative Arkansas Realtors MLS, St Augustine & St Johns County Board of Realtors, and the Central Texas Multiple Listing Service.

CubiCasa now has more than 20 MLS partners, including some of the nation's largest MLSs — Bright MLS, Georgia MLS and the Houston Association of Realtors.

"Consumers are better informed when they can visualize a property floor plan and its dimensions before making an offer," said Karen Holmgren, CEO and president of Bay Area Real Estate Information Services. "CubiCasa's technology empowers our agents and local real estate photographers to easily create floor plans and add them to their listings."

Compass unveils Performance Tracker tool

Compass has launched Performance Tracker, a tool designed to improve how Compass agents track and analyze their business metrics. 

Developed by Compass's in-house tech team, Performance Tracker integrates with other products within the Compass technology platform — which the company has invested heavily in — including Compass CRM and Business Tracker. This integration eliminates redundant data entry and third-party tools, Compass said in the announcement, allowing agents to set goals, monitor activity and track production in a single dashboard.

"Performance Tracker helps agents visualize their path to success, providing clear benchmarks for achieving desired targets," said Courtney Smith, head of coaching. "Whether an agent aims to reach a specific commission figure or close a certain number of deals, Performance Tracker calculates the required actions and targets to achieve those goals." 

Performance Tracker is also designed to support teams. Team leaders can leverage the tool's insights to hold their members accountable and offer coaching or other resources to meet their business goals.

Financing Finder helps Americans and Canadians buying in Mexico 

Far Homes, a technology-powered marketplace that helps international buyers find and buy homes in Mexico, announced they are launching Financing Finder, a tool to help buyers better understand their financing options.

Purchasing a home in a foreign country, particularly Mexico, can be a complex process, Far Homes noted. The new interactive tool provides users with a personalized list of suitable financing options for their Mexico property purchase.

"Unlike what buyers may be used to in the U.S., loan products for international buyers in Mexico are fragmented, and there haven't been resources for buyers to get clarity on what does or doesn't work for them," said Far Homes CEO Chet Kittleson. 

Far Homes currently serves buyers searching in coastal Quintana Roo, primarily in the cities of Cancun, Playa del Carmen and Tulum, and has plans to expand to Puerto Vallarta by the end of this summer. 

Clear Capital and BeSmartee partner on tool to speed mortgage closing

Real estate valuation technology company Clear Capital has joined forces with BeSmartee, a digital mortgage tools provider, to offer its customers more options for mortgage and home equity origination property valuations.

The partnership, which integrates Clear Capital's AVM with BeSmartee's mortgage POS and HELOC tool, allows lenders to centralize the valuation process and access accurate value predictions on nearly every residential property in the U.S. with the goal of delivering mortgage and home equity loans faster.

"Our collaboration with Clear Capital brings us closer to our vision of a seven-day mortgage close," said Tim Nguyen, BeSmartee CEO and co-founder. "BeSmartee is committed to engaging with innovators who'll continue to streamline the mortgage process, and help people get into their dream homes or take advantage of the equity in their current homes."

Inspectify raises $5.76 million in new funding

Home inspection software startup Inspectify raised $5.76 in new funding to help it launch new services and further develop its platform.

The company, founded in 2019, provides inspection software and a booking platform for home, property, and rental inspections. It aggregates data from each inspection and aims to replace static PDF reports. 

The startup serves real estate investors, property managers, lenders, insurance carriers and brokerages.

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