HomeSpotter, a company that provides software for real estate agents, is growing its offerings by acquiring Spacio, an open house lead generation system, the companies announced recently.
Spacio is a mobile-first platform that helps real estate agents digitally capture open house visitors’ contact information and automates follow-up interactions, helping agents turn more of those visitors into customers. According to the company, its software is currently being utilized by more than 100,000 real estate agents in the U.S. and Canada.
Now, the company’s software will be integrated into HomeSpotter’s platform.
HomeSpotter Founder and CEO Aaron Kardell said the company has long looked for an open house solution, even considering building one itself, before determining that acquiring Spacio is the right move.
“We’ve been thinking about the open house opportunity since 2013, as open house visitors represent some of the most motivated buyers in market that aren’t always captured through other lead gen sources,” Kardell said.
“The combination of the founding team at Spacio, their proven track record of delivering a best-in-class solution, and resoundingly supportive customer feedback — there’s such strong alignment that it makes sense to bring our businesses together,” Kardell added. “We believe we will go further and faster together, and are excited about how the company will continue to evolve to help agents, brokers, and the consumers they service facilitate better relationships around real estate.”
The combined company boasts a client base of more than 450,000 agents, 250 brokerage firms, 300 MLS connections, and services the four largest brokerages in the U.S.
“Marketing activities for open house lead generation have three parts -- before, during, and after. We spent the past four years building, iterating, and perfecting the during and after pieces and we do those very well, better than anyone else,” said Spacio co-founder and CEO Melissa Kwan.
“However, we always knew that in order to complete our product offering, we needed to give agents a way to market their listings before their open houses; this wasn’t something we had the expertise to build on our own,” Kwan added. “With HomeSpotter’s digital advertising product, Boost, we can finally deliver the complete solution to agents that allows them to do all three: advertise their open houses before, capture leads during, and automatically follow up after, all within a single platform.”
According to the companies, all of Spacio’s employees are joining HomeSpotter.
Financial terms of the deal were not disclosed.