New Crowdsourced CRE Deal Platform Debuts in Maryland
The venture is currently seeking 10 or more top-tier firms or “co-founders” to facilitate OnMarketUSA’s launch in other markets where it is forming local teams, including in New Jersey, in the New York City boroughs of the Bronx, Brooklyn and Queens, South Florida and in Philadelphia.
BALTIMORE—A new crowdsourced commercial real estate platform OnMarketUSA is making its debut in Maryland with the hopes of introducing the service in other major markets in the northeastern and southeastern United States.
The news and listings platform aims to provide off-market deals, listed properties, local information and other industry news. Partnering on OnMarketUSA’s Maryland launch include a number of real estate service providers: Eastern Union, Wealcatch Insurance, Residential Title & Escrow/Commercial Settlement Services, and others. Currently in data mode, OnMarketUSA is being developed into a dedicated forum for crowdsourced information, company officials say.
The venture is currently seeking 10 or more top-tier firms or “co-founders” to facilitate OnMarketUSA’s launch in other markets where it is forming local teams, including in New Jersey, in the New York City boroughs of the Bronx, Brooklyn and Queens, South Florida and in Philadelphia.
OnMarketUSA’s new platform is designed to mitigate obstacles by tapping crowdsourcers in each market who provide the platform with timely information on off-market and open-market property offerings, news on recent transactions, and other intelligence, company officials note.
Jacob Wealcatch, president of Pikesville, MD-based Wealcatch Insurance and one of the site’s co-founders, says, “Real estate professionals typically turn to LinkedIn and other social media or peer-to-peer networks to source hard-to-find deals, but this puts out all the necessary information if you’re looking to buy, sell, fund or service a specific deal.”
Nathan Ebelein, OnMarketUSA’s vice president of operations for the Maryland market, says OnMarketUSA is not intended to be a replacement for other data sources.
“Through our team’s interaction with the key local players, we are able to give OnMarketUSA’s users actionable data on a daily basis,” he says. “It’s the next step in a fast-moving business that gets faster every day. In today’s world, information is power—and OnMarketUSA will give you the power to act quickly.”