Inside Real Estate announced the acquisition of BrokerSumo, a Commission Management cloud software provider to real estate brokers.
BrokerSumo’s product allows customers to easily manage commission calculations, agent onboarding and billing, transaction payments and all forms of internal and external reporting. It seamlessly integrates with transaction systems such as Dotloop as well as modern cloud-based accounting packages including Quickbooks. Commissions management is the most critical and industry specific financial function for brokers.
BrokerSumo has grown rapidly from its inception just two years ago and already has hundreds of brokers and thousands of agents using its product. The success of its product comes from a combination of offering the functionality needed by brokers of all sizes and types of commission plans, providing a clean, modern user interface that agents readily adopt and delivering it all at a cost less than half that of other solutions on the market.
The product extends Inside Real Estates’ kvCORE platform directly into the financial and accounting systems. Customers will not only be able to automate their entire marketing and sales lifecycle through kvCORE, but now they will be able to track, coordinate and measure transactions through all the financial end points. “This gives us an important component of back-office functionality we needed to deliver the complete business platform we have created with kvCORE”, said Ned Stringham, CEO of Inside Real Estate. “BrokerSumo’s simple design, powerful features, integration with Quickbooks and low cost have really been shaking up the historically dominant player in accounting. When compared with BrokerSumo however, competitive solutions look expensive, inflexible and ready to be tossed out. We are thrilled to add the BrokerSumo product and team to Inside Real Estate.”
The BrokerSumo team immediately realized the synergies between the two products and the benefits the combination would offer to brokers. “When I saw the new kvCORE platform and heard their vision and strategy, I knew we needed to be part of it,” said Jeremy Shoenig, Founder and CEO of BrokerSumo. “As part of Inside Real Estate, our customers will benefit greatly through more rapid expansion of our product, better support and company stability. kvCORE is a powerful platform and a perfect fit for our technology.’
The acquisition was completed December 14, 2017. No terms were disclosed for the transaction. More details of the acquisition can be found at: http://insiderealestate.com/
Learn more about kvCORE here: http://s.