Real Estate Technology Boom: SecondSpace.com

Seattle has birthed yet another real estate tech start-up. This one, SecondSpace, seeks to make home ownership easier for those with pockets deep enough to own second homes. Considering some 40 million Americans own a second home, it sounds like they’ve tapped into a solid market.

The issue for those buying second homes is not usually affordability–more likely it is the challenge of finding the right property to fit their needs. Do they want a house on the water or in the mountains? Overseas or within easy travel distance? Maybe they simply want raw land to build their second (or third or fourth) home on. All tough questions for the discerning buyer.

Through ResortScape, a user is able to go in and survey properties based on price range, type of property and physical location. A simple search for a property in an "ocean/seaside" lifestyle, for $400 to $800K in an unspecified location quickly brings up 63 listings varying from
condotels to single family vacation homes–all for purchase.

Even tougher, some may argue, is what to do once the property is purchased. Many require renovations, maintenance and upkeep. SecondSpace claims to easily connect buyers with service providers able to assist them with their needs while they are away from their homes.

SecondSpace is aiming to establish itself as the preferred site for those looking to buy second homes worldwide. In partnership with their two other sites, ResortScape and LandWatch, SecondSpace recorded well over $1M in revenue in 2007.

Backed with $6.6M from Ignition Partners, the company employs people from Seattle-area companies such as Microsoft, RealNetworks and Amazon.

Keep your eyes out for more from SecondSpace–while they aren’t the only ones catering to consumer lifestyle needs, they appear to have the resources and partnerships to do it right.


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16 comments:

February 12, 2008 at 5:41 AM Anthony said...

This is a very cool site and has a solid business model. Much of our users are 2nd home buyers. I see where this is going and going fast!


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Many require renovations, maintenance and upkeep!
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