Constellation Real Estate Group announced Tuesday that it has purchased data analytics and lead generation company offrs, continuing a running acquisition spree that has seen the software giant pick up firms focused on everything from marketing to mortgage technology.
In a statement Tuesday, Constellation said that offrs (yes, that’s how the company spells its name) “leverages big data and its proprietary machine learning algorithm to predict future home sales and transactions.” Offrs then provides that data to various real estate professionals, including agents and mortgage companies.
Terms of the deal were not made public.
Constellation President Scott Smith added in the statement that offrs has a “robust platform” that can “deliver truly advanced data and insights that move the industry forward.”
“Offrs has a strong team with powerful technology, and we’re excited to welcome them to the Constellation Real Estate Group portfolio,” Smith also said.
Among the products listed on offrs website is an “all-in-one lead generation” tool that uses data to target homeowners with the “highest potential to list their home for sale.” The tool also provides automated marketing services, lead verification and property reports, among other things.
The Florida-based company — which was founded in 2012 and claims “thousands” of agent clients — also uses algorithms to predict future listings in a given area. Offrs services start at $49 per month, though prices vary depending on location and how many leads are available in a given area.
Toronto-based Constellation offers an array of different real estate tech products and counts more than 500,000 agents, teams and brokerages among its clients. The company’s services specifically include lead generation, website creation, marketing products, multiple listing service (MLS) data, customer relationship management (CRM), transaction management and more.
However, the firm has most recently made headlines for a series of high-profile acquisitions. For example, nearly a year and a half ago Constellation bought Real Estate Digital, beefing up its Software-as-a-Service offerings and bringing its portfolio of companies to over half a dozen.
Then eight months later Constellation acquired website and marketing firm Baynet World. The company has continued making acquisitions this year, and has now grown its portfolio to more than a dozen companies — nearly double what it was a year ago.
Constellation’s rapid growth epitomizes the intense investment that is currently going into real estate tech. Across the industry, established firms such as Keller Williams are positioning themselves as technology-oriented even as rapidly growing startups like Opendoor try to upend business as usual. And all the while, investors are dumping fortunes into real estate in an effort to find the next billion-dollar technology.
Constellation’s acquisitions suggest it wants to cast a wide net when it comes to navigating this evolving world of real estate technology. And the company’s statement Tuesday explained that its latest acquisition aligns with the firm’s “strategy of investing in vertical market software solutions with a focus on strong solutions and a commitment to be long-term, stable technology partners for the real estate industry.”
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