BrokerageTechnology

Traditional real estate firm invests in tech enterprise

Long & Foster takes equity stake in Moxi Works
  • East coast broker invests in West Coast tech venture.
  • Windermere and Long & Foster will build out agent tools.
  • Investment shows broker commitment to staying relevant by expanding services.

Virginia-based Long & Foster Companies, parent company of Long & Foster Real Estate, has acquired an equity stake in tech company Moxi Works.

Moxi Works was founded and is majority-owned by Windermere Real Estate, another family-owned real estate brokerage based in Seattle.

Moxi Works is a technology company that specializes in real estate tools for agents and brokerages. Its products are designed to help its clients win business in the competitive online marketplace.

Moxi Works leverages MLS data using cloud computing, social media and mobile technology. The company’s goal is to make the brokerage more relevant by providing its tools to agents.

Jeffrey S. Detwiler, president and COO of Long Foster, said, “Not only does the partnership enable us to stay on the leading edge of broker services, but also it helps ensure our agents have the tools necessary to achieve continued success in the business and to best support their homebuyers and sellers.”

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Detwiler joins the Board of Directors for Moxi Works.

York Baur, CEO of Moxi Works, said, “Moxi Works, Windermere and Long & Foster will continue innovating and delivering benefits to the real estate industry and consumers alike.”

The two independent firms have worked together in the past. In 2014, Long & Foster launched Presentation PRO Powered by TouchCMA, a Moxi Works product, across more than 200 sales offices in the mid-Atlantic and Northeast regions.

Since then, thousands of Long & Foster agents have been actively using Presentation PRO, and they’ve created more than 27,000 interactive presentations in the solution.

“Windermere founded Moxi Works in an effort to revolutionize real estate technology by developing tools that empower agents to work smarter and be more productive. Long & Foster embraces this same philosophy, making it an ideal partner in this venture,” said O.B. Jacobi, president of Windermere Real Estate.