Q & A with Matthew Smith of REA on RealNex Acquisition
1. Tell us once again about REA and what the company does.
The evolution of REA software can be traced back to Tim Creagh in the early 1980s, a onetime commercial broker in need of a better information management system. Foreseeing the power of computer software, Tim programmed REA to be the quintessential contact, company, and property management database for commercial brokerage. The software today has evolved to allow brokers to track deals, listings, buyers, sellers, tenants, spaces, and comps.
2. So what’s new with the company?
After four decades of independent operations under the founder and CEO, REA was acquired earlier this year by RealNex, a Pavonis Group company. This transaction was a puzzle piece in the bigger picture of not only bringing REA’s CRM system to the cloud, but intertwining the program with sister companies REI Wise and PropertyLine who were simultaneously acquired to be a part of RealNex and operate under the same umbrella.
3. Describe how you’re now part of The Pavonis Group/RealNex – and how this partnership will benefit all involved.
The Pavonis Group has set forth on a mission to bridge the gap between commercial brokers and cutting edge technological services. The commercial brokerage industry is closer to the floor than they are the ceiling in terms of modern technology mechanisms within the workplace. RealNex provides a bundle of complementary services at otherwise unattainable price points. By diffusing the financial barrier to entry, a plethora of newfound clientele will stimulate the RealNex presence in CRE initially. The retention and expansion of said clientele comes when brokers realize not only how effective these services work with one another, but why their financial obligation is less of an expense and more of an investment in the success of their career.
4. How are you working with the other platforms – PropertyLine, REAWise, PIX, etc. – and what does this mean for REA?
REA is working with PropertyLine and REI Wise to give brokers the unparalleled ability to push and pull data between different platforms. The RealNex bundle gives you the ability to harness your CRM, financial analytics, and property listing/e-marketing functions all under the same roof.
5. What’s the change that you’re most excited about?
The biggest difference our company is going to be able to offer moving forward is having found a way to give the brokers not only what they want, but what they need, and most importantly are capable of ascertaining. In the past you’ve received your money’s worth, and even for the brokers with deep pockets that wasn’t always a recipe for success. With REA’s addition of mobility and scalability thanks to RealNex, the leading class CRM has been upgraded and is simultaneously as affordable as ever. Whether it be the single broker setting up shop, or the traditional global brokerage powerhouses – REA is a CRM solution that can get you from start to finish.
6. Naturally, we’re curious to know what’s next…
REA is proud to be a pioneering anchor in the RealNex family alongside REI Wise and PropertyLine, but this is just the first splash of many. The Pavonis Group brings an almost supernatural collection of CRE knowledge, connections, and experience to the table, all of which will be used in both the short and long term to innovate within our industry and beyond.
Photo Credit: “Q And A Letters” by Stuart Miles Source: freedigitalphotos.com