Showing no signs of slowing down, real estate technology company Chime has announced a partnership with back-end business management solution Brokermint last week.
Chime has been recognized for its innovative website, lead generation, and customer relationship management solutions; Brokermint has an equal foothold in the automation of back-end real estate business, helping brokers digitize transactions, commission tracking, agent oversight and general office dealings.
In a press release, Chime stated the union “will deliver a fully integrated end-to-end operating system for the real estate industry.”
Chime CEO Mike McGowan made a specific callout to Zillow’s recent moves, insinuating that brokerages suddenly have a new, tremendous competitor with which to contend.
“The necessity to automate in order to scale has been apparent for some time, but Zillow’s recent announcement regarding iBuying transactions underscores just how imperative it is for brokerages to up their technology game plan,” McGowan said.
Brokermint integrates its solutions with several other sophisticated and well-regarded enterprise-level technology companies, such as Inside Real Estate, DocuSign, Boomtown, and Tribus, among others; both Brokermint and Chime call this a “deep technical integration.”
Typically the term “deep technical integration” implies more than a simple API bridge from one product to another. This integration would involve a blending of interface features and real-time, two-way data pathways.
“Using the integration with Brokermint, whenever there is an update on a particular transaction, the agent will be notified in the [Chime] CRM,” McGowan said in an email to Inman. “All checklists will be automatically populated from Brokermint to Chime giving agents the ability to transact much more efficiently.”
McGowan said the relationship was born out of customer requests.
“As we’ve expanded our customer base with more brokerages and enterprise cases, we now have more clients actively using Brokermint; multiple voices came to us asking us to make this integration happen,” he said.
The two companies’ end-to-end approach as a whole is not new. It will put them in competition with solutions offered by Inside Real Estate, for example, which acquired Brokersumo to offer back-end solutions under a product to be called CORE BackOffice.
Countless real estate technology companies advertise an array of integrations or marketplaces intended to pull in users of other business platforms and to address needs their software doesn’t solve.
The most basic advantage to Brokermint and Chime’s partnership is that customers won’t have to access disparate systems to move a client from transaction to commission tracking and accounting, or “from lead to cash,” as McGowan said.
Chime has integrations with dotloop and SkySlope, too, but those will not be affected by the announcement.
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.