Milwaukee real estate technology company Constellation Real Estate Group (CREG) (Constellation1) announced in a press release the acquisition of industry colleague Paradym, which offers agents and brokerages online marketing and video tour solutions.
Constellation1 sells a wide range of technology innovations for brokerages, national franchises, and multiple listing services. It has grown significantly through acquisition. Before Paradym, the company’s last purchase was Virtual Properties in August of 2019.
Paradym’s VisualTour product and social media outreach capabilities will undoubtedly become a focus of Constellation1’s front-end services lineup, which includes customer relationship management and website development solutions.
“This acquisition enhances Constellation1’s solutions and offers our customers a new way to market listings and to capture more buyer and seller leads,” said Andrew Binkley, president of Constellation1. “Online marketing is more important than ever.”
Constellation1’s online home search pulls data from 600-plus MLS relationships. Now paired with Paradym’s online tour technology, the company could build the industry’s most in-depth library of multimedia property tours.
Inman reviewed Paradym in 2016, after rebranding from Visual Tour. Its focus then was social media content creation and management.
Four years before a pandemic pushed online tours to the forefront, Paradym was working to make Matterport a consistent part of its content offerings, as stated in the 2016 Inman write-up:
“Videos are obviously growing in marketing importance. So along with a suite of editing tools and visual resources, Paradym will be rolling out Matterport tour integration to accompany its compendium of supplied infographics, flyer templates and property marketing packages.”
Paradym’s CEO, Steve Jarrell, said the sale will empower the company’s product growth.
“Their investment delivers new life to the Paradym product roadmap And valuable integration opportunities,” he said in the press release. “I have the utmost confidence that the entire Constellation1 group will care for our loyal customers and grow Paradym.”
Paradym is based in Knoxville, Tennessee, and was founded in 1992. The company started offering CD-ROM tour experiences, retail kiosks, and it was an early adopter of digital photography in the real estate space.
Have a technology product you would like to discuss? Email Craig Rowe
Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping an array of commercial real estate companies fortify their online presence and analyze internal software decisions. He now helps agents with technology decisions and marketing through reviewing software and tech for Inman.