Pacaso named Marnie Blanco as its vice president of industry relations on Thursday. She’ll oversee strategic industry partnerships and relations growth.

Pacaso, a real estate startup that aims to create co-ownership opportunities for second homes, has named industry veteran Marnie Blanco as its vice president of industry relations. Blanco will spearhead the startup’s strategic industry partnerships, industry relations and advocacy goals, according to a company announcement on Thursday.

Austin Allison | Pacaso

“Marnie and I worked together for many years at dotloop, my previous startup,” Pacaso CEO and Co-founder Austin Allison said in the announcement. “I was always impressed with her real estate acumen and ability to execute. We are thrilled and lucky to have her on board.”

Prior to Pacaso, Blanco served as dotloop’s vice president of industry relations and helped the Zillow Group brand build partnerships with MLSs, associations and third-party integration partners. Blanco launched her real estate career as RE/MAX’s vice president of eBusiness, where she led technology innovation, product management, product marketing, and training for the network’s broker and agent technology platforms.

“I am enamored with the Pacaso concept,” Blanco said of the opportunity to work with the startup. “I think it’s brilliant and opens up so much potential to enrich people’s lives. Looking at second homes is actually a hobby of mine, and I feel fortunate to get to blend that passion with my industry experience in this new venture.”

Marnie Blanco

“The Pacaso team, model and its momentum are incredibly exciting!” she added.

Blanco isn’t the only person enamored with Pacaso — the company clinched $75 million in equity funding and an additional $1 billion in debt funding only seven months after its launch, making it the fastest U.S. company to reach unicorn valuation.

The brainchild of Allison and Zillow co-founder Spencer Rascoff, Pacaso enables buyers to purchase a one-eighth to one-half co-ownership stake in a second home. Buyers can choose a home through Pacaso or another site, and Pacaso will partner with the buyer to purchase the home through its property LLC, The Pacaso Home LLC.

The initial buyer chooses their ownership stake in the home and then Pacaso will find additional buyers to purchase the remaining shares of the home. Buyers can purchase their stake with all cash, or offer a 50 percent down payment and finance the rest.

Through The Pacaso Home LLC, Pacaso secures funding for the home and signs the mortgage as the corporate guarantor. Meanwhile, buyers will sign an Owner Operating Agreement, which gives them 100 percent ownership interest in the LLC for the property.

Pacaso handles all the management and design aspects of the home for a 1-percent transaction fee, and co-owners can use the SmartStay app to reserve their time in the home from two days to two years in advance. Co-owners must wait 12 months from closing to sell their share, which Pacaso said works the same as selling a “whole home.”

Allison and Rascoff said Pacaso’s rapid ascent is due to a robust second home market and the fact that Pacaso allows everyday people to enjoy the benefits of a second home without the financial burden.

“The pandemic has caused that desire for second homeownership to be more pronounced and more intense than pre-pandemic and the reason why is flexibility,” Allison told Inman in a previous article. “You have more families that can work from home, more families that can work partially from home and even for the families that are going to go back into the office when this all settles down, we’ve entered a new world where there’s a new culture that promotes flexibility.”

“That has enabled us to accomplish what otherwise might have taken us a couple years, we were able to accomplish in six months,” he added.

Email Marian McPherson

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription