Perchwell claims Sotheby’s from RealPlus

Startup has raised $4M in seed funding

TRD New York /
Feb.February 13, 2018 12:20 PM

Kathy Korte and Brendan Fairbanks

A battle over the residential world’s back-end listing systems is heating up.

Perchwell — a startup that competes with On-Line Residential and RealPlus — said Sotheby’s International Realty will transition to from RealPlus its platform, joining more than 10 firms that switched vendors in recent months.

Other firms that have made the jump to Perchwell include CORE, Warburg Realty, Stribling & Associates, Berkshire Hathaway, Fox Residential and Sloane Square.

In addition to managing listings, Perchwell offers data and client communication to agents. Managers can monitor listings and sales to track their performance against rival firms.

Although companies like OLR and RealPlus dominated the real estate data space for decades, that’s changing. Last year, Douglas Elliman tapped StreetEasy to design a back-end listings portal for agents.

Fairbanks, who said Perchwell has raised $4 million in seed funding, said he doesn’t view OLR and RealPlus as competitors per se. “We’re offering a different product,” he said. “It’s enhancing data, supplementing data and giving [brokers] tools they need to interact with clients.”

The startup licenses its platform to brokerages and charges on a per-agent-per-month basis.

In December, Perchwell signed a lease for 3,500 square feet at 110 Greene Street, and it plans to grow from around 12 employees to 35 to 40 in short order.

Related Articles

Eric Gordon

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world

Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC

What will proptech look like in 2019 and beyond?

What will proptech look like in 2019 and beyond?

From left: the Ritz-Carlton, 32 East 1st Street, 560 West 24th Street, 301 East 80th Street and 32 West 85th Street

Five priciest homes new to market include 1897 townhouse

Ed Gilligan and 3 East 94th Street (Credit: Getty Images, Compass)

Don’t leave home without $21M: Amex exec’s widow sells townhouse

Fritz Wolff (Credit: Katerra)

SoftBank-backed Katerra co-founder leaves company’s board

From left: Jed Wilder, Bess Freedman, Richard Grossman, Josh Sarnell and Adam Mahfouda (Credit: Emily Assiran) 

Agents to StreetEasy: The fee is too damn high

Masayoshi Son

Small Talk: Our foolproof plan to get SoftBank’s investments back on track