A wave of consolidation hit the real estate technology vendor space in 2020, T3 Sixty’s annual ranking of the nation’s biggest and best technology revealed Tuesday. A total of 15 entrants from the 2020 Tech 500 were acquired prior to the publication of the annual list.
T3 Sixty’s Tech 500 is one component of the real estate consulting and management firm’s Real Estate Almanac. The Tech 500 itemizes 300 technology vendors, sorting them into 63 categories — with some overlap depending on the technology — in an effort to create the definitive guide to real estate technology.
“Every year, T3 Sixty assesses hundreds of technologies, and the Tech 500 is the result: a list of the industry’s leading technology for brokers and agents to choose from,” Travis Saxton, senior vice president of technology consulting at T3 Sixty, said in a statement.
Some of the biggest names to be acquired on the list were Showcase IDX, which was acquired by eXp Realty, and ShowingTime which was acquired by Zillow, a move that was maligned by many in the real estate industry.
The 2021 list also brought 37 new products to the Tech 500 for the first time, including Cloze, Cloud MLX, Elevate by Elm Street Technology and others.
The list breaks the technologies down by where they exist in the transaction lifecycle, with the follow catergories: enterprise; top of the funnel; middle of the funnel; bottom of the funnel; post funnel; broker platform; and other technologies.
For the first time ever, the Tech 500 also includes a link to T3 Sixty’s comprehensive technology database. T3 Sixty launched its vendor marketplace in January 2021 to serve as a digital companion to the Tech 500. The digital marketplace features more than 900 products, with integration details, screenshots of what each product looks like, a summary of the product’s features and other detailed information.
This year’s Tech 500 also includes a “reviewed” checkmark, which signifies the products that T3 Sixty worked with directly, through a recent demo, collaboration or recent project.
The Tech 500 is the third part of The Real Estate Almanac, an annual compendium of research compiled by T3 Sixty. In January, the company released the SP 200, which named Zillow CEO Rich Barton the most powerful man in real estate for the second consecutive year and in February, it released its breakdown of the nation’s Realtor associations and multiple listing services.
The company will release the rest of the components in consecutive months: April, will see its list of top holding companies, franchise brands, and public companies; and in May, the Mega 1000 brokerage ranking.