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Second home co-ownership platform Pacaso continues to fortify its brand after the lagging real estate market forced it to adjust growth plans amidst a tough period of industry-wide layoffs.
The company shared its most recent step in an announcement exclusive to Inman, forging a partnership with technology-backed, luxury networking group, Realm.
Realm, a 530+ member network of luxury agents, was an Inman 2022 Top Luxury Standout, earning recognition during Inman Connect Las Vegas with induction to the Inman Golden I Club.
The organization’s mission is to link top-producing luxury agents and facilitate interactions with the highest quality buyers and sellers in their respective markets.
Underlying the group’s efforts is a proprietary software system that integrates existing CRM records, public information and specific lifestyle data to build in-depth client profiles, allowing for more accurate lead quality confirmations and, thus, higher-probability property matches.
Specific to the partnership will be Realm’s “Second Home Experience,” built to promote Pacaso’s listings and unique ownership model.
“The Realm network reaches some of the most accomplished industry professionals, especially in the luxury space,” Marnie Blanco, Pacaso vice president of industry relations, said in the announcement. “We’re thrilled to introduce co-ownership and our listings in many of the top second home destinations with our Second Home Experience integration on their platform.”
Realm has more than 530 members in 45 states and 10 countries across 110 brands, the announcement said. Collectively, it serves more than 350,000 high net-worth clients. Those members will now have improved access to Pacaso’s unique portfolio of luxury home shares in markets such as Jackson, Wyoming; Malibu, California; Maui, Hawaii; and Napa, California. It also has shares in London and Marbella, Spain, among many others.
Realm was created by luxury real estate agent and now-CEO, Julie Faupel in 2019, who called it a “subscription based, member-exclusive global luxury collective,” in an Inman report.
“The intent is to empower agents,” Faupel said. “It really is intended for the elite agents operating at the highest level of the industry.”
Pacaso linked up with Engel & Volkers in March, 2022 in a similar effort to expand the idea of co-ownership to the luxury homebuying sector.
Pacaso most recently ventured into a development partnership in a relatively under-the-radar market typically targeted by high-end New York City buyers, upstate’s wooded Hudson Valley. The company is working with developer NevelHaus on a series of minimalistic, eco-friendly escapes.
It also launched a Second Home Specialist Certification, a curriculum meant to inform agents on the unique nature of selling high-end homes in destination markets, and how co-ownership can assist more buyers in achieving vacation home goals.
On her network’s new partnership, Faupel said “it’s evident that they [Pacaso] are perfectly aligned with the ethos and the service represented in the Realm membership.”
“The business model and the relationship-first philosophy is the ideal alliance and we are proud to be able to offer our members and their clients access to this innovative industry solution.”
Pacaso said its listings are actively being integrated with Realm’s listing network and should be accessible to members by press time.
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