Marcus & Millichap, a Calabasas-based commercial brokerage firm, has announced a partnership with San Francisco-based technology company Archer to advance its presence in the proptech sector.
The two companies have not disclosed the terms of the partnership, but the collaboration is expected to bring Marcus & Millichap’s expertise in commercial real estate to Archer’s property technology platform, the San Fernando Business Journal reported.
“Our relationship with Archer is one of the ways we continue to stay on the leading edge within the proptech space,” Richard Matricaria, executive vice president and COO of the Western division at Marcus & Millichap, said in a statement.
“We value Archer’s technology and the strategic benefits they provide our brokers and clients and took the opportunity to expand our partnership with an equity investment.”
Archer’s platform, which has already begun the process of integrating into Marcus & Millichap’s workflow, uses automation to expedite all fronts of the brokerage experience.
The platform aims to help real estate professionals make better decisions by providing them with data-driven insights. The platform is powered by artificial intelligence and machine learning, and provides users with access to a wide range of data, including market trends, property values and tenant profiles.
“The main goal for what we built Archer for is to really supercharge real estate professionals to be able to spend more of their time focused on the actual decision-making and relationship-building parts of their process versus the data gathering and the analytics creation,” Thomas Foley, CEO of Archer, said.
With the help of Archer’s platform, Marcus & Millichap said it will be able to provide its customers with data-driven insights that will help them make better decisions.
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M&M plans to implement the Archer platform in its multifamily brokerage department and its capital markets business.
Archer recently expanded its underwriting platform from multifamily to include student and affordable housing property types, and plans to expand its programs into other sectors.