Rechat adds private user community; Mainstay acquires Truelist
“House of Rechat” is adding 175 new members each week. Plus, Mainstay absorbs Truelist; ClearCapital launches risk navigator tool; AngelAI to expand; more.
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.
Rechat introduces private community for users
Rechat has officially unveiled House of Rechat, a private online community designed for real estate professionals who use the company's app. The community launched over the summer and has already grown to more than 2,000 members from 178 brokerages, with an estimated 175 new members joining each week, according to a news release.
Membership features include live calls with Rechat leadership, guest speaker sessions, product previews, resource guides and more. House of Rechat, which is led by Rechat Head of Community and Advocacy Clair Barha, can also serve as an extension of a brokerage's onboarding and training processes, the company said.
"The value of House of Rechat has been the exchange of ideas and the willingness of the community to help one another," said Dickson Realty Director of Marketing Katy Borja, who has been one of the community's guest speakers. "That collaboration gives us new ways to think about how we can better support our agents and help them get more from the technology."
Access is available through the Rechat app Support menu or through the House of Rechat website, with membership limited to verified Rechat users.
Mainstay announces acquisition, adds ex-Zillow exec to C-suite
Mainstay, the real estate data firm that originated at Opendoor before launching as its own company two years ago, announced this week that it has acquired Truelist, an AI-powered listing platform launched last year by a former Zillow and Tomo exec. The move, which accompanied Mainstay's announcement that it has raised over $18 million in growth capital, comes amid the company's efforts to expand its residential real estate platform into the brokerage market.
Carey Armstrong, the founder of Truelist who also held leadership roles at Zillow and previously co-founded Tomo, is joining as part of the acquisition. Moving forward, Armstrong will serve as chief strategy officer at Mainstay.
"Mainstay and Truelist are both unusual in that their teams have actually built and operated these systems at scale inside the industry's largest and most innovative residential platforms," said Clelia Peters, a Mainstay board member. "The combination of deep residential real estate experience, a well of proprietary data, and an innovation and AI first approach is unique in the industry, and creates an opportunity to build something foundational."
Armstrong added that the two companies "have been attacking the same broken system from different angles." Together, their capabilities will be able to "stop duplicating effort and start compounding it."
More tech news
Clear Capital has announced the launch of AURA Risk Navigator, an interactive workflow that transforms automated appraisal risk assessments into a list of suggested action items. AURA analyzes appraisal information to identify items in need of review, while the new Risk Navigator capabilities carry those findings into a workflow for investigating issues, documenting decisions and completing reviews before generating a report capturing findings, actions, comments and outcomes. The rollout follows Clear Capital's acquisition of Restb.ai earlier this year.
US Realty Training has opened applications for beta testing of AI Tutor, its new study tool designed for real estate professionals. The tool, which is integrated into the company's student portal, answers questions in plain language and adjusts depending on the topics that an individual user is struggling with, instead of offering the same cookie-cutter practice questions to everyone. Beta testing is limited to current students, with applicants open for additional testers in the next two weeks.
Celligence announced that it has secured a $100 million investment from Mortgage Treasury to expand AngelAi, its AI platform designed to automate tricky financial decision-making and transactions. AngelAi provides a conversational interface through which users can more easily navigate the transaction process. It has over 400,000 users and has assisted with about 200,000 transactions, the company said in a news release. The new $100 million investment "will amplify cross selling and network effects to make AngelAi the dominant consumer finance and mortgage app," Celligence Founder and CEO Pavan Agarwal said.
Editor's note: AI was used in the initial drafting of this content, which was then thoroughly reviewed, fact-checked and revised by a Real Estate News editor.