Constellation gains market share in shifting real estate technology market with new acquisition.
MILWAUKEE, April 2, 2020 –– Constellation1, a leading provider of scalable SaaS products to real estate brokerages, franchises and MLSs and part of the Constellation Real Estate Group (CREG), announced today that it has acquired Midwest-based technology provider Virtual Properties.
Virtual Properties was founded in 1995, pioneering real estate and MLS technologies, and today offers integrated cloud software and turn-key solutions including robust transaction management, custom websites, a comprehensive CRM platform with intranet, IDX technology, and marketing automation solutions for real estate agents and brokerages.
The acquisition of Virtual Properties aligns with Constellation1’s strategy of investing in vertical market software with a strong focus on solutions and customers served, supporting its mission to be the single source for real estate technology and a long-term, stable technology partner for the real estate industry.
“Virtual Properties’ long-standing commitment to innovation and dedication to meeting the evolving needs of their clients was attractive to us,” said Andrew Binkley, President of Constellation1. “With a shared vision of providing robust technology solutions to a strong customer base, we’re excited to welcome Virtual Properties to Constellation1. We plan to continue to invest in Virtual Properties’ technology and customer relationships. Our sales and marketing team is looking forward to offering Virtual Properties’ products to other customers. Virtual Properties’ talented employees will be valuable additions to Constellation1.”
“Virtual Properties has been a great partner to Shorewest Realtors, whose integrated technology has helped us evolve and stay on the leading edge of the real estate industry over the past two decades,” said Joe Horning, President of Shorewest Realtors. “As a long-time customer and technology partner, we recognize the strategic value of this acquisition and look forward to Virtual Properties’ continued service, with the stable support Constellation1 will provide, long-term.”
Constellation1, Constellation Real Estate Group’s recently launched brand, brings together Real Estate Digital, Emphasys, Constellation Web Solutions, ReloSpec, Birdview, and Baynet and provides industry leading offerings of front office sales and marketing tools, including lead generation and relocation management; back office accounting, eSignature, and transaction management software; and extensive IDX feeds and data sets to real estate brokerages, franchises and MLSs.
“Despite these times of uncertainty, the Constellation Real Estate Group remains focused on investing in our existing real estate, mortgage, and franchise software and customers,” said Tom George, President and Managing Partner of Constellation Real Estate Group. “As active buyers of software companies, we’re committed to upholding our buy-and-hold investment strategy, providing stability to the markets we serve.”
The CREG portfolio powers over half of a million real estate agents, brokerages, franchises, and MLSs across the U.S. and Canada and 100s of mortgage companies and banks.
The acquisition of Virtual Properties marks CREG’s fifth acquisition in 12 months. Virtual Properties is the sixteenth company to join CREG and the seventh company under Constellation1.
Constellation1 provides front office, back office and data services to real estate brokerages, franchises and MLSs across North America. Constellation1 is your source for real estate technology. Constellation1 is part of Constellation Real Estate Group.
The Constellation Real Estate Group
The Constellation Real Estate Group acquires and invests in real estate software brands that are committed to providing long-term solutions and partnerships with franchises, brokers, agents, MLSs, and associations. CREG provides a suite of market-leading technology solutions designed specifically for the real estate industry through its brands: Constellation1 (including Real Estate Digital, Emphasys, Constellation Web Solutions, ReloSpec, Birdview, and Baynet), Market Leader, offrs.com, SmartZip, Mortgage Builder, Sharper Agent, Zurple, Z57, Diverse Solutions, TorchX, and now Virtual Properties. Over 500,000 real estate agents, brokerages and banks across North America rely on CREG’s products and services to power, manage, and grow their businesses.
Founded in 1995, Virtual Properties develops web-based software for real estate brokers and agents. Virtual Properties’ integrated solution provides large real estate brokerages with robust tools that allow them to manage their business with one platform and offer their agents tools for success.