Z Venture Capital has invested in TERASS, a company that operates a platform for independent real estate agents.

I believe TERASS has an exceptional business model—both in the way it tackles key challenges and how well it aligns with the needs of today’s homebuyers.

・Approach to the Problem

TERASS isn’t just providing digital tools for real estate agents—it’s building a full-service platform that supports them in every aspect of running independently, from lead generation and training to legal and administrative support.

By taking a people-first approach rather than just offering software, TERASS is enabling real digital transformation in a traditionally analog industry. This has also allowed them to move away from a typical subscription model and instead build a revenue model tied to actual transaction volume.

It’s been nearly 20 years since the term “digital transformation” first emerged. In that time, major players have already established themselves in large horizontal and vertical markets where tech adoption is straightforward. As the pure SaaS opportunity becomes more niche, startups today need a different approach—one that TERASS is perfectly positioned to deliver.

・A Better Fit for Today’s Homebuyers

TERASS’s approach to home buying really reflects how the market—and consumer behavior—has evolved. It aligns closely with what I’ve personally experienced in my own search for a home.

There are three key shifts that highlight this: ① the growing appeal of pre-owned condos, ② the rising importance of individual agents, and ③ the clear opportunity for digital transformation in the real estate industry.

① Growing Appeal of Pre-Owned Condos

With inflation on the rise and the new NISA program gaining traction, more people are starting to view their homes as financial assets. This shift is expected to drive a move from renting to buying. At the same time, rising material and labor costs are pushing up the prices of new condos while supply remains tight—making the pre-owned market a more practical and attractive option for many.

② The Agent Matters More Than Ever

Thanks to online real estate platforms, it’s now easy for anyone to search for properties on their own. In the past, people had to rely on major brokerages with exclusive listings, but that’s no longer the case. Still, buying a home is a big decision—and when it comes time to make that decision, having a trusted agent by your side can make all the difference. People aren’t just looking for information—they’re looking for someone who can guide them with confidence and care.

③ Real Estate Is Still Ripe for Digital Transformation

Despite all the digital tools available today, real estate transactions are still bogged down by paper contracts, manual processes, and late-night paperwork. Electronic contracts are still rare, and stamp duties remain a burden. There’s a clear inefficiency in the way things are done—and a huge opportunity to modernize the entire experience. That’s exactly where TERASS comes in.

TERASS is, without a doubt, one of the best-positioned companies to tackle these challenges.

It brings together top-performing independent agents and empowers them with IT and AI tools so they can focus on what matters most—serving their clients. It’s a modern approach to real estate that feels perfectly suited to where Japan is headed.

TERASS CEO Eguchi-san is a visionary leader—action-oriented, widely trusted, and incredibly persistent. He’s been consistently sharing insights about housing on YouTube for over six years, which speaks volumes about his dedication and long-term thinking.

The number of agents joining TERASS and the volume of transactions through the platform are both growing at a remarkable pace. I have no doubt that this momentum will continue.

We’re genuinely excited to be part of TERASS’s journey. Real estate is also a promising area for collaboration with the LINE Yahoo group, and we’re fully committed to supporting TERASS as it scales.