HomeVestors of America has acquired BlueSquIDX℠, a software platform that has facilitated single-family home purchases. The move continues HomeVestors’ way for its independently owned and operated franchises to harness MLS (Multiple Listing Service) to search for and make offers on homes.
Brandon Gebers, Chief Growth Officer for HomeVestors, said, “Historically, only three percent of homes our franchisees purchase were on MLS in the previous 90 days, even as data shows 30 percent of flipped homes were listed in the same time period. However, scouring MLS can be a clunky and time-consuming process, so we bought a platform that is a virtual ‘easy’ button for our homebuyers.”
Searching for investment properties on MLS requires access to the service, an understanding of how best to use filters on the right terms, due diligence to find non-retail listings, and a significant amount of time to weed through the data. BlueSquIDX has access to MLS data, which the company’s founder, Steve Peterson, took through a machine learning process to identify the characteristics of properties that are flippable or that an investor would purchase.
Joshua Waltzer, Chief Executive Officer of HomeVestors, said, “It fundamentally changes how franchisees operate. Those with access will have deals pushed to them every day, and all they have to do is evaluate the property, click a button and enter ‘here’s what I’d offer.'”
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*Offer ends on Friday, 7th February.
