Perchwell claims Sotheby’s from RealPlus

Startup has raised $4M in seed funding

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?

TRD Talks Live

Watch tonight: Turning to tech on TRD Talks Live

(Credit: iStock)

Strong quarter for Manhattan home sales belies current struggle

Manhattan resi listings continue nosedive: report

Manhattan resi listings continue nosedive: report

252 East 57th Street and 196 Orchard Street with Samantha Sheeber and Tal Alexander

Closing in the time of Covid-19: “We’re pulling out all the stops”

Kuwait’s consul general in New York, Hamad Al-Hazeem and 50 United Nations Plaza (Credit: Google Maps)

Kuwait’s consul general buys 50 UN Plaza pad for $16M