The American Real Estate Association (AREA), an alternative that emerged last year to the National Association of Realtors (NAR), has partnered up with real estate services company RLTYco and made one of its cofounders a board member, the companies have informed Inman.
With the move, Briggs Elwell, RLTYco’s CEO and cofounder, will join AREA’s board, giving the company further insights into agent needs and giving AREA industry insight from a seasoned veteran who has been active in a variety of real estate endeavors.
Briggs Elwell | RLTYco
Elwell said the partnership came about because of a shared vision for the future of the industry.
“The alignment of efforts [by] us to provide services to the agent community and then the efforts of what Jason [Haber and Mauricio Umansky] were doing with the American Real Estate Association was just incredibly logical because we’re both working in the same talent pool, same industry and we’re just really aligned at the overarching goal of bettering the community,” Elwell told Inman.
Jason Haber, cofounder of AREA and a Compass-affiliated agent, said that as the trade organization ramps up for a period of expansion, they were looking for leaders who would help drive growth, and Elwell seemed like a clear asset to add to the team.
Jason Haber | Compass
“We’re at a point where we’re ready for our next phase, which is going to be rapid expansion, and when we go into expansion mode in this next phase, who do you want helping guide you?” Haber said. “Who are the players to help make you this nationwide hub to bring together people who may have differing opinions on where the industry needs to go, but share the same belief that there’s a lane for us to operate outside of NAR — not in competition with them, in some ways in collaboration — but to create our own voice and to say, ‘Here’s what we think is best for the industry. Here’s what we want to put out into the public square. Here are the things we can be doing better.’
“I think by bringing in someone of Briggs’ caliber, you’re going to see us attract a full swath from around the country of talent, both at the executive level, meaning CEOs, general counsels, people in the C-suite, to the agent community as well, that’s hungry for new voices to help galvanize and organize the industry.”
Elwell started off as a licensed agent and spent a significant portion of his early career working with New York City developer Related Companies, where he worked on the firm’s luxury rental portfolio. He also led small- to mid-size brokerages in New York City before launching RLTYco with Daniel Kennedy in 2021.
Because of his location in New York City, which does not have a multiple listing service (MLS), Elwell said he has never been a Realtor.
Mauricio Umansky | The Agency
“We’re excited to partner with RLTYco and welcome Briggs to the board,” Mauricio Umansky, cofounder of AREA and CEO of The Agency, said in a statement. “Agents deserve to set themselves up for success with resources and knowledge that are sometimes elusive based on where you are and how you choose to hang your license, and I’m a big fan of the work that RLTYco is doing.”
With the partnership, agents who sign up for RLTYco’s services — including commission advances, legal and tax assistance, and a healthcare marketplace — will now also have the option to become a member of AREA at a preferred price, which is yet to be determined. Haber told Inman that dues for a base membership are $20 for 2025, but 2026 dues have not been set yet and likely will not be announced for several months.
“I’m very excited to help push across the direction and efforts of the association,” Elwell told Inman. “But because of [this] relationship, we’re going to offer all the members preferred pricing, preferred access to things that we roll out as we build the company.”
RLTYco is also prepping to launch RLTY Blue, which is a benefits program tailored to real estate agents, akin to something like the benefits W2 employees receive through their employers or those received through certain credit cards, the company said. Earlier this year, the company raised $20 million in a Series A funding round.
