RealX has more than 6 million acres registered in its exchange network. The platform launched in late 2019 and has seen only an upward in both acreage and offers received through its property rights services. Property rights include leasing land’s surface rights for solar, wind, cell towers, timber and other uses; as well as selling or leasing subsurface rights for minerals, oil and gas, among others.
RealX Co-Founder and CEO, Luke Glass, said:
“Individual landowners are met with a host of difficulties when thinking about how to use their land in the best ways possible, including how to identify all the opportunities for their land to generate revenue, how to market it broadly, what to negotiate and who to trust. Now they can partner with their trusted real estate professional using a known exchange that provides accuracy, transparency and automation."
RealX’s looks to unlock the value of every property, both for the landowner and corporations that may need access to the land. This investment will allow RealX to expand its offering nationwide to Realtors® who can then register their client’s land in RealX, making the land available for offers from third party corporations across energy, communications, agriculture and building materials.
Its unique platform digitizes documents and provides a virtual transaction process for the buying, selling and leasing of property. Property buyers enjoy an easy-to-use, map-based interface to quickly find available acreage that allows them to improve their current positions or enter a new area quickly.
NAR’s Senior Vice President of Strategic Business, Innovation & Technology, Mark Birschbach, said:
“We are excited to make this strategic investment in RealX as it introduces a new asset class for Realtors® to transact.
“RealX is empowering Realtors® to expand the value proposition they deliver to their clients and to create unique and incremental growth for their businesses. Additionally, RealX supports landowners’ ability to control how their land impacts our collective future in energy, communications, food and building materials."