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
June 6
West USA Realty announced its expansion into Chandler, Arizona. “The expansion of this location is another extension to assist in supporting Valley agents. We look forward to providing this service to the Southeast Valley and the Real Estate industry,” says Clint Fouts, West USA Realty President.
ValuAmerica, a wholly owned subsidiary of Clayton Holdings LLC, and national provider of appraisal, title, closing and settlement services, announced today that it has acquired ValuEscrow, Inc., an independent escrow company located in Santa Ana, Calif., expanding its closing and escrow operations in California. Founded in 2013, ValuEscrow provides loan closing and escrow services to Realtors, lenders and title companies statewide. The company will continue to operate with its current staff and under its own brand and license. No other terms of the transaction were announced.
Engel & Völkers announced its newest shop in Okanagan, which comes as a partnership with Lexterra Real Estate; this expands the company’s international network and exclusive level of service in British Columbia and across Canada. Led by Suzie Doratti, owner and broker-of-record, the new Engel & Völkers in Okanagan, will provide leading real estate services to homebuyers and sellers in the Okanagan Valley from Lake Country to Peachland. “The real estate market in the Okanagan Valley is becoming increasingly popular as more homebuyers near and far discover this emerging international destination for its natural beauty, warm weather climate and active outdoor lifestyle,” said Anthony Hitt, CEO of Engel & Völkers North America, in a statement. “Suzie shares our passion and commitment to expertise and quality real estate service and we are proud to have her and her team as the newest member of our growing Canadian and international network.”
Down Payment Resource partnered with ReferralExchange to add agent-matching. The partnership lets visitors looking for down payment information to connect with agents. When homebuyers ask to be matched with an agent, DownPaymentResource.com draws on ReferralExchange’s technology to pair the buyer with an agent that’s deemed to meet their needs and qualifications.
June 7
Zillow Group subsidiary Bridge Interactive and Black Knight Financial Services have formed an alliance to integrate Bridge’s data management tools into Black Knight’s Paragon MLS system. “We expect this relationship to result in wider and faster adoption of Bridge tools across Black Knight’s Paragon user base,” Zillow Group told Inman in an emailed statement.
RealtyeVest lowered its required minimum investment amount to $5,000 for all offerings on their real estate crowdfunding platform for accredited investors. Previous minimum investment amounts ranged from $15,000 to $50,000, depending on the real estate project. The new $5,000 threshold is intended to draw first-time investors to experience RealtyeVest’s high-caliber performance with a nominal financial commitment. “We are seeing significant activity on our platform, however we feel there is a corner of the market we are not appealing to,” said Daniel Summers, RealtyeVest CEO, in a statement. “So we are offering investors a taste of our service with a new lowered investment amount for all projects. Once they see the quick return on their investments, they will no doubt want to increase their contribution amounts.”
June 8
Waterstone Mortgage, a nationwide mortgage lender, has engaged NAHREP Consulting Services (NCS) to help it to more effectively serve Hispanic homebuyers. NAHREP Consulting Services is the consulting arm of the National Association of Hispanic Real Estate Professionals (NAHREP). With this new partnership, NCS will work closely with the Waterstone Mortgage leadership team to craft sound strategies that will resonate with Hispanic prospective homebuyers. Additionally, NCS and Waterstone Mortgage will develop integrated marketing solutions and cultural training for loan professionals. “Homeownership is a universal goal for Americans, ” said Waterstone Mortgage President and CEO Eric Egenhoefer in a statement. “At Waterstone Mortgage, we serve a diverse group of clients across the nation, and this program will help us build a solid foundation for meeting the unique needs of Hispanic homebuyers.”
Email deals and partnerships information to press@inman.com.