While real estate agents chase leads and close deals on houses, there’s another level of deal-making that takes place within the real estate industry: mergers, acquisitions, integrations and partnerships.
We’ll be recapping every week’s noteworthy deals that didn’t make it into print (and some that did) for your perusal.
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Realync, which enables live virtual property tours and open houses, announced that it’s completed a $1.1 million round of seed funding led by Meridian Street Capital. Participating firms include VisionTech Partners, M25 Group and Charmides Capital.“As Millennial and Gen Z consumers become the majority of renters in the multifamily industry, we have seen owners and managers recognize the need to change how their leasing teams interact with prospective tenants,” said Matt Weirich, co-founder and CEO of Realync, in a statement. “This investment gives us the additional resources needed to deliver even greater value to our multifamily customers and continue making the touring process as simple and streamlined as possible for real estate organizations of all sizes.” The statement also said Realync will use the funding to establish new headquarters in Indianapolis and hire some new key employees as well as expand the Chicago office.
HSF Affiliates — which operates brokerage networks Berkshire Hathaway HomeServices, Prudential Real Estate and Real Living Real Estate — is working with the World Class Coaches Moving Families Initiative to provide support for children in relocating families. “The Moving Families Initiative is a terrific plan for all families with kids who need to move or relocate,” said Gino Blefari, CEO of HSF Affiliates, in a statement. “We support the plan because it places families first and ensures all family members’ needs are met through the move and beyond.”
Better Homes and Gardens Real Estate announced that it has added GoldLeaf Real Estate Properties in California’s Central Valley to its international franchise network.“We’re consistently evaluating key real estate markets and identifying brokerages that embrace forward-thinking business strategies to capitalize on the ever-evolving shifts in consumer behavior,” said Sherry Chris, president and CEO, Better Homes and Gardens Real Estate LLC, in a statement. “We’re confident that Better Homes and Gardens Real Estate GoldLeaf is the right company in this market to evolve with the exciting transformations its communities are experiencing.”
This week’s deals
Real estate sales and marketing company Polaris Pacific unveiled a brand reinvention as it expands in more West Coast markets. “We see this rebranding as a way to set the stage for the next era of Polaris Pacific while continuing to deliver on our promise of progressive, unparalleled experiences in marketing, sales and customer interaction,” said Garrett Frakes, managing partner of Polaris Pacific, in a statement. “We are excited for the future and the ability to continue to partner with our clients to achieve unprecedented success.”
WFG National Title Company has acquired the business of Vancouver, Washington-based Columbia Title Agency through an acquisition of all Columbia Title’s assets. WFG hired all Columbia Title’s employees at the time of acquisition. WFG Chairman and CEO, Patrick Stone, said in a statement that the move “is a natural progression of WFG’s growth in the Northwestern states. We have seen tremendous success in this market, especially with our local direct operations.”
Brokers and real estate professionals using ShortTrack will be able to take advantage of a partnership between the title solution and zipLogix, enabling zipForm users to send data and documents to their preferred title agency. “The zipLogix integration provides a simple method for real estate professionals to submit new title orders,” said Steven Hargraves, chief operating officer of ShortTrack, in a statement. “In the face of increasing compliance requirements and concerns about data safety, ShortTrack provides the right mix of convenience and security.”
W+R Studios and real estate marketing company Lion&Orb announced the release of “Luxury Edition” CMAs now available through Cloud CMA. “For the striking new look, Lion & Orb selected and curated images taken by Lion & Orb Executive Creative Director, Michael McNamara of ShootingLA,” announced the companies in a press release. “McNamara and his team are widely known as the leaders in luxury real estate photography in Los Angeles and have photographed some of the most famous properties in the city.”
Sotheby’s International Realty Affiliates announced that the Tidelands Company in South Carolina acquired DeBordieu Colony Real Estate and Prince George Sotheby’s International Realty, two local brokerages which have become a newly combined entity, Peace Sotheby’s International Realty.
Compass announced that it will launch a new Los Angeles office in Brentwood. “Our agents expressed a desire to have a strong presence in Brentwood — a highly specialized market — and we expanded to meet that demand and to better serve our clients,” said Stan Richman, Compass regional vice president.
Better Homes and Gardens Real Estate announced that it has added Universal Realty in Southern Nevada to its franchise network, renamed Better Homes and Gardens Real Estate Universal. “Scott Beaudry and his entire team epitomize our brand’s definition of a modern real estate brokerage focused on providing personalized consumer experiences,” said Sherry Chris, Better Homes & Gardens Real Estate CEO, in a statement. “Their local knowledge and location is an asset as this is a time when land all across the Las Vegas Valley is getting acquired at a rapid rate.”
Real estate photography provider Virtuance is now offering services in Chicago. “We’re excited to be opening in Chicago,” said Jeff Corn, co-founder and CEO of Virtuance, in a statement. “Chicago is an amazing market and we’re ready to partner with real estate agents that want to see faster results with our images.”
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