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.
This week’s deals
RealtyeVest announced new capital raise assignments for on-trend real estate investment offerings in two growing real estate markets — affordable housing and assisted living. Sales in these niche markets are being driven by a sea of change among two major demographic groups – baby boomers and millennials. As baby boomers are retiring in droves, they are experiencing substantial lifestyle shock due to low or no retirement savings. Many are moving to affordable housing communities to enjoy retirement. “Developers are recognizing the growing demand for affordable housing, and have begun aggressively acquiring and upgrading communities across the U.S.,” said Daniel Summers, CEO of RealtyeVest, in a statement. “We are working with many of these developers, regularly adding exceptional multi-million-dollar investment offerings to our platform.”
CoreLogic recently announced its Total Home Value tool for Portfolio Monitoring solution. Total Home Value for Portfolio Monitoring now gives mortgage lenders, insurers, servicers, and investors the ability to evaluate, understand, and manage the collateral value of mortgage portfolios more frequently, easily, and consistently.
Better Homes and Gardens Real Estate announced the addition of Apex Realty in Crofton, Maryland, to its franchise network. The newly named Better Homes and Gardens Real Estate Live Well Group, led by broker Bryan Gleason and co-owners Jeff Caruso and Mark Somerville, will continue to serve Crofton in addition to the counties of Anne Arundel and Prince George. “We are thrilled to expand our presence in Maryland and are confident that everyone at Better Homes and Gardens Real Estate Live Well Group will be invaluable partners,” said Sherry Chris, president and CEO, Better Homes and Gardens Real Estate LLC, in a statement. “Their expertise in real estate and development, paired with their extensive knowledge of the Crofton, Maryland market gives them a competitive edge in this thriving location.”
Hawaii Life has been selected as the exclusive statewide affiliate for Christie’s International Real Estate, a global network of over 32,000 real estate agents in 45 countries offering exclusive home and luxury real estate services to buyers and sellers worldwide. Hawaii Life has been a Christie’s affiliate since January of 2016 and this new agreement cements the relationship across all the Hawaiian islands, including most recently, Oahu. “As Christie’s partners, we’ve seen how valuable this relationship is and the extra level of reach and vision it provides to our clients,” said Matt Beall, Chief Executive Officer of Hawaii Life, in a statement. “Through Christie’s, we market to a global audience of luxury real estate purchasers. Equally important, is the spirit of collaboration among the Christie’s affiliates who represent true excellence in real estate.”
Chime Technologies announced that Exit Realty. International has designated Chime as a Premier Partner. Inclusion in this program both recognizes the high quality of Chime’s offering and will help to fuel the company’s growth as it deepens and expands its nationwide footprint. Under this agreement, Chime will provide Exit Realty associates with preferred access to its suite of CRM and lead generation tools.
CoreLogic announced that the Real Estate Standards Organization (RESO) now awards Gold certification to Trestle clients applying for data dictionary certification. Trestle is the national data marketplace created by CoreLogic to address fundamental data access problems experienced by real estate brokers, technology providers and multiple listing organizations. RESO promotes data standards and processes that facilitate software innovation, ensure portability, eliminate redundancy and achieve greater efficiency for all real estate transaction parties. “I’m very proud of the Trestle team for their hard work achieving the RESO gold certification goal,” said Chris Bennett, general manager of Real Estate Solutions for CoreLogic in a statement. “RESO compliance is critical to making Trestle the industry-standard marketplace for listing data and property intelligence. CoreLogic is committed to bringing the many benefits of standardization to the nation’s multiple listing, broker and technology organizations.”
Centralized Showing Service, Inc. (CSS) partnered with Trenlii. The relationship gives CSS listing members access to analytical tools to interpret and share MLS real estate market data from their integrated Showings.com and CSS Scheduler accounts. Blending market trends in real time with showing statistics gives CSS members actionable insight into every corner of their market with predictive analytics to better evaluate local conditions. “Residential real estate agents can easily share market insight and intelligence with their buyers and sellers,” said Greg Pynn, President of Trenlii, in a statement. “Agents understand how important it is to add value to the client relationship,” he continues, “as a market expert, offering a substantial difference to your prospects is compelling.”
More than 53,000 real estate professionals from the states of Virginia and Wisconsin, Woodstock in Ontario, Canada, Estes, Colorado and five markets in Pennsylvania — from Metropolitan Pittsburgh to the Poconos Mountains — have access to Florida Realtors Tech Helpline for the first time. Agents and brokers from nine states and local associations can receive a wide range of technical support services that covers both software and hardware issues, including their smartphones, tablets, desktops, laptops, printers, email problems, viruses, wireless connections issues and more.
Rapattoni announced that the High Desert Association of Realtors (HDAOR) in Hesperia, California, is among the first two MLSs in the nation to achieve official Real Estate Standards Organization’s (RESO) Data Dictionary v1.5 Platinum certification. HDAOR currently serves approximately 2,200 members and has been a Rapattoni MLS customer since 2001. “It’s exciting to see the High Desert Association of Realtors, along with the hard work and assistance of their MLS technology partner Rapattoni, achieve the highest level of RESO Certification possible for the latest version of the Data Dictionary,” said Jeremy Crawford, CEO, RESO, in a statement.
Paradigm Tax Group, a property tax consultancy, purchased the startup TurboAppeal, a property tax appeal tool. Terms were not disclosed, but a person familiar with the deal confirmed that the startup sold for more than $10 million.
Email deals and partnerships information to [email protected].