Inside Real Estate acquired Broker Sumo as of December 13, 2017.
What was the rationale for the acquisition?
The strategy fit for us is two-fold.
First, it directly connects kvCORE to the financial and accounting processes of the brokerage further differentiating our proposition that brokers can ‘run their business’ on our platform. Commissions management is the most critical and industry specific financial function for brokers and the way Broker Sumo integrates seamlessly with the modern accounting packages like Quickbooks allows much more flexibility at about half the cost.
Second, it provides us access to financial data to improve our business analytics. We will be able to better analyze financial returns from different marketing and sales tactics and give customers more valuable insights on how to improve their performance. We already were pioneers in providing business analytics in kvCORE, but this gives us the complete picture.
While Broker Sumo does bring us more broker customers and a bit more revenue, the value for us comes in what we can now do for our customers with this end-to-end linkage and financial insight. With this move, we continue to extend our lead in the race to deliver the ultimate business software platform.
What does it mean for me as a customer of Broker Sumo?
Broker Sumo will continue to serve you as they have in the past. Jeremy Shoenig will continue to lead this as a product unit inside IRE. Jeremy and team will be able to leverage the broader resources of IRE which should be even better for you in term of product development and support. We will be shifting billing and support systems to those of IRE in the coming several months which will enhance the level of support and resources available.
What does it mean for me as a customer of Insider Real Estate?
Our plan is to provide a highly automated implementation path for IRE customers that chose to add-on Broker Sumo. The work to make this happen is underway and will be available early next year. While the Broker Sumo product will not be free with kvCORE, there will be an attractive pricing package for Broker Sumo that is exclusive to kvCORE customers. We will be releasing the details of this in early 2018.
Will I get the product free as part of kvCORE?
No, Broker Sumo will be tightly integrated with kvCORE, but customers that would like the functionality will need to pay for it separately. kvCore customers will be given an incentive to move to Broker Sumo beginning in Q1 2018. To get a demo on either of the products, please visit the links above and request a demo.