REAL ESTATE TECHNOLOGY
United Real Estate | June 08, 2022
United® Real Estate has announced the launch of its Specialty Properties Group (SPG) websites. Lifestyle.UnitedRealEstate.com is a collection of websites featuring AI and machine learning designed to enhance proprietary SEO algorithms for United's lead acquisition program. The technology-first strategy is converting more buyer and seller leads while significantly reducing the company's acquisition and transaction costs.
Together, the SPG collection is producing organic website traffic and business leads for United's Agent-centered inbound lead program, powered by 2.1+ million listings. The collection includes:
Condominium property types
The specialty websites are streamlining the customer experience and substantially lowering the cost of lead acquisition for United's brokers and agents. United's proprietary Bullseye™ Cloud-Based Productivity Platform is fully integrated with the SPG website collection. The platform connects interested buyers and sellers to United's customer care team and national agent and broker network.
The system is deploying market-ready buyers and sellers to United's tech-enabled agent base – at a substantially lower cost than traditional lead acquisition programs. As a result, United is driving more profitability for agents and brokers.
The real estate internet space is filled with systems that get between agents and their customers. Our proprietary system connects agents with their past, present and future real estate clients and is designed to substantially lower costs to brokers and agents, improve effectiveness and deliver tremendous business opportunities to our broker and agent network across the country."
Rick Haase, President of United Real Estate
"Our proprietary technology platform, Bullseye, continues to evolve rapidly. These new organic websites are another piece of our end-to-end strategy of lead acquisition for our agents. By leveraging our cloud architecture and our exclusive listing warehouse, we are able to deploy our unique organic SEO strategies rapidly. Our lead program is now delivering more opportunities for earnings to our agents nationwide – at a fraction of the cost of traditional lead acquisition programs. We continue to invest heavily in our technology platform to enhance our value proposition for our agents," says David Dickey, Chief Technology Officer of United Real Estate Group.
United's tech-enabled business services model is gaining attention inside and outside the real estate industry. In 2021, D.A. Davidson named United a top 100 U.S. private technology company. The Herd highlights a diverse group of businesses across cloud, collaboration, fintech, human capital management, infrastructure, sales and marketing, security and vertical software. In 2022, Housing Wire recognized United Real Estate as one of the Top 100 technology companies in 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 31 states with 110 offices and more than 16,500 agents. The company produced over $21.5 billion in sales volume in 2021.
About United Real Estate Group
United Real Estate Group (UREG) operates United Real Estate and United Country Real Estate, addressing the unique market needs of suburban, major metropolitan urban and rural markets. Utilizing the cloud-based Bullseye™ Agent & Broker Productivity Platform, UREG offers the latest training, marketing and technology tools producing a significant competitive advantage. The platform realizes a decade-long investment in virtual agent and brokerage technology services and is powered by a 2.1 million listings data warehouse generating over 3 million monthly visitors and 30,000 leads per year. Together, the United Real Estate Group supports more than 600 offices and 20,000 real estate and auction professionals across four continents. United Real Estate Group produced over $27.1 billion in 2021. Through its in-house advertising agency, UREG offers differentiating marketing support and collateral for specialized lifestyle property websites as well as access to a 650,000+ opt-in buyer database.
REAL ESTATE INVESTMENT
Bluerock Residential Growth REIT | April 13, 2022
Bluerock Residential Growth REIT, Inc. announced that at a special meeting of stockholders held earlier, based on preliminary voting results, the Company's stockholders approved the proposed acquisition of the Company by affiliates of Blackstone Real Estate. The Acquisition will occur following the spin-off of the Company's single-family rental business through the taxable distribution to common stockholders of all of the outstanding shares of common stock of a newly formed real estate investment trust named Bluerock Homes Trust, Inc. Company common stockholders will receive $24.25 in cash per share of Company common stock in the Acquisition in addition to the BHM common stock that they will receive in the Spin-Off.
The final voting results will be filed with the U.S. Securities and Exchange Commission (SEC) on a Form 8-K.
We are pleased that our stockholders have approved this transaction and thank them for their continued support. Today's stockholder approval marks a key step in completing the transaction and delivering on the tremendous value it offers to our stockholders."
Ramin Kamfar, Chairman and Chief Executive Officer of the Company
The Acquisition and the Spin-Off currently are expected to close in the second quarter of 2022, and are subject to the completion of customary closing conditions. Upon the closing of the Acquisition, BRG's common stock and preferred stock will no longer be listed on any public market.
About Bluerock Residential Growth REIT, Inc.
Bluerock Residential Growth REIT, Inc. is a real estate investment trust that focuses on developing and acquiring a diversified portfolio of institutional-quality highly amenitized live/work/play apartment communities in demographically attractive knowledge economy growth markets to appeal to the renter by choice. The Company's objective is to generate value through off-market/relationship-based transactions and, at the asset level, through value-add improvements to properties and to operations. BRG has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.
REAL ESTATE TECHNOLOGY
InspectionGo (iGo) | April 06, 2022
InspectionGo (iGo), provider of technology and services to the home inspection industry, announces the launch of iGo Network, a national platform for real estate agents, consumers, and investors to order home inspections through a digital, but human-enhanced, booking service.
iGo Network was created to make property inspection booking and delivery more accurate and efficient, and solves the geographical fragmentation in the inspection industry. For real estate or technology companies seeking inspection services across multiple markets, iGo Network provides a central, digital solution for tapping into reputable inspectors nationwide. Participating inspectors meet ongoing service standards and are committed to maintaining a high bar for E&O and general liability insurance.
We are excited to launch iGo Network. The majority of home inspections today are ordered via a 12-minute phone call, making it cumbersome and error prone. We are changing this, and now with a modern national platform, the inspection can be incorporated into a more cohesive and enjoyable consumer journey."
Celeste Starchild, COO of iGo
Every inspection booked through iGo Network comes with a repair estimate report from Repair Pricer – the industry's most accurate AI-powered home repair cost calculator. With an accuracy rate of 98%, Repair Pricer reduces time and stress associated with gathering repair estimates from contractors during a critical time in the closing process.
"We are thrilled to join forces with iGo to launch iGo Network," said Christian, co-founder of Repair Pricer. "Agents have been asking us for years for an easy way to book with inspectors that will provide them with Repair Pricer reports as standard. iGo Network not only meets this demand, but it brings best-in-class tools and services together to deliver a game changing experience for the industry as a whole."
Inspection companies gained advance access to join the iGo Network at iGo's annual conference in February, where more than 400 inspectors signed up for the platform. With dozens of market-leading multi-inspector firms participating at launch, iGo Network is positioned to bring a higher level of professionalism and standards to the industry.
For inspectors, iGo Network provides a source of new business without compromising control and confidentiality of their client data. "The inspection industry needs a trusted partner to meet the opportunities of the future. I believe that partner is iGo, and Axium Inspections is proud to be a founding member of the iGo Network," said Wade Williamson, CEO of Axium Inspections.
About InspectionGo (iGo)
iGo, is a leading provider of technology and services for the home inspection industry. iGo's vision is to empower home owners and their agents with professional, digitally driven home inspection services and actionable insights about their homes, making home ownership more joyful. Based in Tyrone, PA, iGo also operates iGo Community, the nation's largest business coaching group for inspection company owners, iGo Academy, the gold standard for home inspector education in 17 states, and iGo Booking, the nation's foremost home inspection booking service.
About Repair Pricer
Repair Pricer is an AI-powered repair estimator that can turn any inspection report into a highly accurate fully-interactive repair estimate. The buyer's agent receives this report, with the option to modify the final display for their buyer. Customizable, universal, automated and secure, Repair Pricer is demanded by real estate professionals and investors nationwide.
REAL ESTATE INVESTMENT
Walker & Dunlop | July 01, 2022
Walker & Dunlop, Inc. announced that it facilitated the $92,000,000 sale of First Apartments, a luxury mid-rise apartment community ideally situated less than one mile from both Downtown Miami and Brickell in up-and-coming East Little Havana. Completed in late 2021, the community reached 90% occupancy by January 2022, reflecting an extraordinary initial leasing velocity of nearly 45 leases per month.
Walker & Dunlop's Still Hunter and Kaya Suarez represented the buyer, Lloyd Jones, and the seller, Premium Development, in the transaction. The Walker & Dunlop team acted as advisors and drove a competitive marketing process to ensure an attractive outcome for ownership. This sale represents the first transaction between all three parties as well as Premium Development's first U.S. multifamily project.
Since opening its doors in late September, First Apartments has enjoyed an increase in lease rates with recent leases signed for more than 25% above initial leases. With rental rates that are nearly $500 below communities with comparable finishes and amenities, First Apartments enjoys the enviable position as the best value in the local competitive set. The impressive lease-up performance is a testament to the appeal of the asset and its prime location, proximate to key demand drivers, entertainment venues, and transit routes."
Roger Karré, the Chief Operations Officer at Premium Development
"With the insatiable demand for moderately priced luxury rental options in South Florida, First Apartments meets the growing needs of Miami residents seeking value relative to Brickell and Downtown Miami's rental options," commented Mr. Hunter. "The new community is also an excellent investment opportunity given its proximity to Miami's commercial business district, boasting nearly 22 million square feet of office space and 125,000 jobs."
Developed with incredible attention to detail and a focus on smart design, First Apartments is the premier luxury rental option in East Little Havana. The community features spacious, luxuriously appointed apartment homes that are complemented by an excellent amenity package, including health club quality fitness facilities, a resort-style lap pool, an expansive bark park and various other lifestyle-enhancing amenities.
Walker & Dunlop is a leader in multifamily property sales, having completed $19.3 billion in property sales volume in 2021 alone, up 214% from 2020. Visit our website for information about multifamily properties available for sale via Walker & Dunlop's property sales platform.
About Walker & Dunlop
Walker & Dunlop is one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology makes us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With more than 1,400 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.