EXCLUSIVE: MooveGuru Acquires Relocation Competitor Relocator
The deal was inked for “eight figures” and brings to MooveGuru a number of substantial mortgage marketing partnerships, according to news sent exclusively to Inman.
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Web-based relocation and mortgage marketing solution MooveGuru has acquired Relocator, another company aimed at simplifying home transitions for agents and their clients, according to news shared exclusively with Inman.
Financial details were not disclosed, but the transaction clocked in at “eight figures,” according to a statement. Mooveguru will move to integrate Relocator’s utility connection partnerships, as well as its mortgage marketing tools.
MooveGuru CEO Scott Oakley said in a statement that he has admired Relocator’s approach to flattening the move process for agents and consumers.
“Our combined entities position MooveGuru as the exclusive solution for agents and loan officers to offer their clients all the tools they need to self-manage their move and beyond as part of the entire homeownership lifecycle,“ Oakley said.
Relocator helps homebuyers track their pending move date, find vendor discounts, storage facilities and everything else needed to make a house a home. It provides agents with marketing collateral and branded onboarding emails. It also has a partnership in place with national moving service broker Unpakt.
Relocator has been in business for five years but only recently entered the real estate space. It primarily worked alongside mortgage companies as its lead source, something that also enticed Oakley. The acquisition will bring contracts with three of the top five mortgage companies to MooveGuru. The company claims to service more than 370,000 agent and loan officer clients.
The company was reviewed by Inman in December, which highlighted the software’s onboarding tracker, as it uses a daily countdown and a checklist in pie-graph form to track outstanding and completed moving tasks.
“With over 70 data integrations, MooveGuru is used by industry professionals including ERA, Keller Williams, Better Homes and Gardens Real Estate, Berkshire Hathaway HomeServices, Exit Realty, Century 21, RE/MAX, Realty One Group, Realty Executives, The Realty Alliance and Leading RE brokerages,“ according to a statement.
Moving and home management services, such as MoveEasy, Milestones and CORE Home, embed an array of calls-to-action for home finance products within their user experiences as a method to keep users engaged and collect referral fees. The companies integrate the tools in a myriad of ways, using everything from home value monitors, recent sales comps, mortgage news content and payment calculators.
MooveGuru has implemented its own updates of late, adding a robust home ownership portal for any agent’s client to use, which can offer access to closing documents and room-by-room details of their new home. It also provides access to a substantial vendor database sorted according to an agent’s account and zip code. MooveGuru allows agents to “own” their zip code when it comes to promoting MooveGuru’s platform.
It has also integrated a network of data providers to help agent-users monitor potential homesellers through their social media activity and online shopping metrics. The tool scores every record in an agent’s database from 1 to 100.
The two companies have been working for more than 45 days on final details. Relocator staff will be part of the new company, as will its founders, Mark Johnson and Andy Solheim.
Johnson said in a statement that his team was moved by the number of integrations MooveGuru has in place, and what that will mean for its customers as the companies coalesce.
“The impact on lead flow and revenues will be immediate and significant,” Johnson said.
MooveGuru acquired HomeKeepr in 2021 in a “seven-figure stock-for-stock transaction,“ Inman reported. That deal helped MooveGuru build out its vendor database and real estate agent marketing resources.