Today RE/MAX announced the acquisition of First, an innovative tech company behind a ground-breaking real estate app
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RE/MAX Holdings, Inc. (NYSE: RMAX), parent company of RE/MAX, one of the world’s leading franchisors of real estate brokerage services, today announced that it has acquired First, a technology company that leverages data science, machine learning and human interaction to help real estate professionals better leverage the value of their personal network.
The four-year-old, North Carolina-based technology startup is known for creating the First app, an intelligent coaching platform that makes it easy for agents to identify likely sellers within their own network of contacts. With a focus on helping agents identify future listings, the app prioritizes who agents should reach out to and when, so they may strengthen current relationships when it matters most. It also organizes and consolidates an agent’s database and provides reporting on how much business is both won and lost from within an agent’s network.
“We have set our sights on becoming the global leader in real estate technology, and the acquisition of First is evidence of that steadfast commitment,” said Adam Contos, RE/MAX Chief Executive Officer. “With First, we found next-level talent combined with a game-changing service, delivering exclusive access to one of the best products for agents out there today.”
With the acquisition, RE/MAX agents in the U.S. will gain exclusive access to First’s platform at a significant discount beginning in early 2020. Current First clients not affiliated with RE/MAX may remain on through their current contract’s expiration, or until the end of 2020.
“We’ve seen the impact the First platform has had in growing individual agents’ businesses, and the fact that we’ll now bring it to scale with the RE/MAX Network’s extensive group of agents is motivating,” said Mike Schneider, First CEO and Co-founder. “The race is on in the industry to establish technology as a true competitive advantage. For us, RE/MAX was the obvious choice given its brand, strategic roadmap, and global leadership position within the industry.”
Following the acquisition, Schneider will continue to lead the First team, who will remain in Durham, North Carolina, working closely with technology leaders at RE/MAX on upcoming integrations and contributions to the overall technology roadmap for the RE/MAX brand in 2020 and beyond.
“We’re committed to providing our global network of highly productive real estate agents with world-class tools, training and technology, and adding First to our powerful technology suite is the next step in that ongoing journey,” said Nick Bailey, RE/MAX Chief Customer Officer. “It’s the perfect complement to the booj Platform – our most recent technology offering that helps agents manage their business – and is another advantage for RE/MAX agents looking to grow their businesses efficiently and effectively.”
The technology transformation of RE/MAX began in February 2018 when it acquired booj, an award-winning Colorado-based web design and technology company. Beginning in August 2019, the booj Platform, an integrated suite of digital products that empower high-producing agents, teams and brokers to proactively establish, manage and grow client relationships was made available to RE/MAX affiliates in the U.S. The brand is also planning the launch of a new remax.com and consumer-facing mobile experience that will enable RE/MAX affiliates to deliver a more data-driven and efficient homebuying experience for their clients in early 2020.
© 2019 RE/MAX, LLC
