Real Estate Technology, Mortgage and Lending
Businesswire | June 28, 2023
Newrez LLC (“Newrez”), a leading mortgage lending and servicing organization, today announced a strategic partnership with Homebot, a home finance education portal that empowers consumers to make smart home finance decisions. This partnership taps the power of Homebot to solidify customer intelligence in empowering decisions.
As one of the largest lenders in the country, Newrez continually seeks innovative solutions to support loan officers, their clients and partners, and homeowners from their existing MSR portfolio. Homebot empowers homeowners and buyers with personalized home finance insights, market intelligence, and property search experiences, while keeping them connected with their trusted home advisor every step of the way.
"At Newrez, our mission is to reimagine the homeownership experience by empowering our clients to make the best financial decisions every step of the way. By incorporating Homebot’s rich content and technology in our servicing portfolio, it will allow our loan officers to provide clients support based upon their needs during their homeownership journey,” said Baron Silverstein, President of Newrez. "Newrez is also one of the first companies to offer Homebot to our servicing portfolio, a strategic initiative to drive enhanced engagement and recapture efforts.”
The partnership with Homebot will enable loan officers to deliver powerful, highly-personalized insights to homeowners and buyers, ultimately creating more connected client relationships and increasing engagement. Plus, Homebot’s rich behavioral engagement insights give loan officers an opportunity to connect with clients and prospects at the right time, the moment they start showing signals of intent.
“We’re incredibly excited about the relationship we’ve developed with Newrez and the opportunity we have to fuel retail growth and servicing recapture efforts, all by empowering and educating millions of clients,” said Charlie Pratt, CEO of Homebot.
ABOUT NEWREZ
Based in Fort Washington, Pennsylvania, Newrez is a leading mortgage company, dedicated to reimagining the homeownership journey. Combining mortgage origination and servicing, we are uniquely positioned to offer a streamlined, customer-centric experience, catering to our clients when and where they need us most. Our customer-first strategy empowers homeowners to optimize their investment, guiding them towards the most beneficial financial decisions every step of the way. Founded in 2008, Newrez is a member of the Rithm Capital Family of Companies.
©2023 Newrez LLC, 1100 Virginia Dr., Ste. 125, Fort Washington, PA 19034. 1-888-673-5521. NMLS #3013 (www.nmlsconsumeraccess.org). Doing business as Newrez Mortgage LLC in the state of Texas. Alaska Mortgage Lender License #AK3013. Arizona Mortgage Banker License #919777. Licensed by the Department of Financial Protection & Innovation under the California Residential Mortgage Lending Act. Loans made or arranged pursuant to a California Finance Lenders Law license. Massachusetts Lender #ML-3013. Licensed by the N.J. Department of Banking and Insurance. Licensed Mortgage Banker-NYS Banking Department. Additional licenses available at www.newrez.com.
ABOUT HOMEBOT
Homebot, an ASG company, is a home education portal that keeps people connected to their home advisors (loan officers and real estate agents).
The award winning portal delivers personalized, actionable intelligence throughout the entire homeownership lifecycle. And with an average 50% monthly engagement rate, Homebot ensures lenders and agents remain the trusted advisors that consumers rely on to make informed decisions about the largest asset they may ever own, their home. For more information on Homebot, please visit: homebot.ai
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Real Estate Technology, Real Estate Investment
PRweb | June 30, 2023
United® Real Estate (United) announced its second expansion in Huntsville, Alabama today, solidifying its position in the top three residential brokerages in the local market. United’s Leading Edge Real Estate Group, which joined United’s national network in 2022, and Huntsville-based Revolved Realty have merged operations.
The combined companies and their 300 agents will operate as Leading Edge Real Estate Group. Revolved Realty co-founder, Tim Knox joins the team as President to advance the long-term success of the combined operations and will remain the managing broker of two former Revolved Realty offices in Huntsville. No role changes are planned for Leading Edge Real Estate Group’s founders, Danny and Charlene Sullivan. Agents will gain additional new tools, training and resources deployed through United’s Bullseye™ Cloud proprietary productivity platform.
"The merger of these two great local brokerages, combined with the backing of our national partner United Real Estate, offers limitless opportunities for buyers and sellers across north Alabama and southern Tennessee. And for the thousands of REALTORS® who call this area home, our commitment to helping agents build long-term, legacy businesses has never been greater," stated Tim Knox and Chelsea McKinney, founders of Revolved Realty. "That's the banner we will carry as we go forth and expand our market share here and eventually statewide."
In today’s market, brokerages have a tremendous opportunity to join forces for long-term competitive advantage.
“Tim and his team bring new energy into the company. Together, we have great synergy and focus and can leverage each person’s expertise to accomplish goals that previously seemed insurmountable. The services and tools we’ll bring to our service footprint will be huge for our market and for the agents. Together, we are now the third-largest in unit sales in our marketplace, and our combined strengths are a catalyst for continued growth,” commented Danny & Charlene Sullivan, founders of Leading Edge Real Estate Group.
Over the last decade, the real estate industry has shifted from commission-split brokerage models to transaction-fee models. New-generation models that entered the market have shown growth, while legacy models have reported declines in agent count, sales volume and unit sales. COVID-19 magnified those trends. According to a data-backed study examining brokerage profitability by real estate tech strategist Mike DelPrete, United was one of two national brokerages to be profitable in Q1 2023.
As brokerages move further into the new real estate market, change and innovation will become imperative for survival. In hindsight, we will look back and realize 2023 was the turning point for both legacy and new-generation models.
“Danny, Tim, Charlene, Chelsea and their respective employees and agents are creating forward momentum. What’s very exciting is that we have a carefully crafted strategic plan to navigate their agents successfully into the future. Today’s real estate landscape is vastly different than just five years ago, and these entrepreneurs are leveraging their unique talents and United Real Estate’s national resources to great advantage for their company and agents,” stated Rick Haase, President of United Real Estate.
About United Real Estate
United Real Estate (United) – a division of United Real Estate Group – was founded with the purpose of offering solutions to real estate brokers and agents in the rapidly changing real estate brokerage industry. United provides the latest training, marketing and technology tools to agents and brokers under a flat-fee, transaction-based agent commission model. By leveraging the company’s proprietary cloud-based Bullseye™ Agent & Broker Productivity Platform, United delivers a more profitable outcome for agents and brokers. United Real Estate operates in 33 states with 148 offices and 18,500 agents. The company produced over 77,900 transactions and $27.9 billion in sales volume in 2022.
About Leading Edge Real Estate Group
Founded in 2013 by Danny and Charlene Sullivan, Leading Edge Real Estate Group’s mission is “Leading the way, using cutting-edge technology to sell your home quickly and effectively while having fun in the process.” The company is committed to professionalism and quality and serves the real estate needs of clients throughout North Alabama.
About Revolved Realty
Founded in 2018 by Tim Knox and Chelsea McKinney, Revolved Realty was built on the premise that buying or selling a home is more than just a transaction: it’s a life-changing experience. Their team of highly-seasoned real estate professionals is dedicated to providing exceptional, personalized service for all clients throughout North Alabama. A champion of relationships, Revolved Realty agents work relentlessly on the client’s behalf to achieve their real estate goals.
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Real Estate Technology
Globenewswire | August 14, 2023
Tango, a leading provider of cloud-based real estate and facilities management software, today announced it has acquired WatchWire, an industry leader in data and analytics that helps companies reduce emissions and energy expenses while simplifying sustainability and carbon reporting. The transaction further extends Tango’s position as a global leader in the real estate and facilities management space, enabling companies to meet their energy management and sustainability goals. WatchWire’s leadership team will join Tango to continue developing and progressing these key capabilities. Financial terms of the private transaction were not disclosed.
“Faced with a rapidly changing macro and regulatory environment, active sustainability and energy management has become essential to long-term organizational success,” said Pranav Tyagi, President and Chief Executive Officer of Tango. “Tango has a longstanding reputation for solving the complex, location-based compliance and reporting needs of our customers, as well as helping companies effectively manage and control occupancy costs. With the addition of WatchWire, we will provide customers information that arms them to understand their environmental impact and deliver on energy and sustainability management initiatives.”
Founded in 2000 and based in New York City, WatchWire provides the deepest and most comprehensive integrated energy management and sustainability platform in the industry, enabling companies to automate the collection and validation of sustainability and energy related data. Its solutions then operationalize the data for reporting, compliance and identifying additional opportunities to meet environmental, energy and climate targets. The combined business will serve over 500 customers in more than 140 countries from its primary offices in Dallas and New York.
A strong relationship between owners and the users of real estate is critical to ensuring accurate, active tracking and reporting on energy and sustainability. Tango brings considerable experience to the establishment and management of that relationship through its work in transaction management, lease management and facilities maintenance, and will help bridge the communication gap between owners and operators to address their joint energy and sustainability management requirements and deliver on decarbonization objectives.
“We are excited to be joining the preeminent real estate and facilities management solution in the industry,” said Andy Anderson, CEO of WatchWire. “Combining the vast amount of validated energy data available in the WatchWire platform with Tango’s real estate and facilities management capabilities will enable companies to support the accurate tracking and reporting that customers require, and operationalize insights about how to lower costs and improve sustainability. WatchWire customers will also benefit from the end-to-end real estate and facilities solution that Tango offers.”
“Since our initial investment in Tango, we have been focused on adding a sustainability and energy reporting capability, as these offerings will help Tango extend its leadership position in the real estate management software market,” said Jon Nuger, a Managing Director at Berkshire Partners, which made a growth investment in Tango in 2021. “We are excited to partner with Pranav and the management team as they harness Tango’s and WatchWire’s combined capabilities to empower organizations to improve energy efficiency, enhance sustainability and reduce cost.”
Harris Williams acted as exclusive financial advisor to Tango and Berkshire Partners on the acquisition of WatchWire. GrowthPoint Technology Partners, a San Francisco-based technology investment bank, acted as exclusive financial advisor to WatchWire.
About Tango
With hundreds of customers across more than 140 countries, Tango is the leader in Store Lifecycle Management and Integrated Workplace Management System software, delivering a single solution spanning real estate, design & construction, lease administration & accounting, facilities, desk booking, visitor and space management.
About WatchWire
WatchWire is a sustainability and energy management software-as-a-service provider. Across the globe, WatchWire helps commercial and corporate real estate portfolios, Fortune 500 industrial/manufacturing and big-box retail companies and government, healthcare, and educational facilities reduce emissions and expenses while simplifying sustainability and carbon reporting.
About Berkshire Partners
Berkshire Partners is a 100% employee-owned, multi-sector specialist investor in private and public equity. The firm’s private equity team invests in well-positioned, growing companies across technology & communications, consumer, healthcare, and services & industrials. Since inception, Berkshire Partners has made more than 150 private equity investments and has a strong history of collaborating with management teams to grow the companies in which it invests. The firm's public equity group, Stockbridge, founded in 2007, manages a concentrated portfolio seeking attractive long-term investments. The firm’s Stockbridge and Private Equity teams frequently collaborate and leverage their collective industry expertise across sectors.
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