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Classifieds site, Edgeio, acquires property website developer, Adaptive Real Estate Services
Classifieds site, Edgeio, has acquired property website developer, Adaptive Real Estate Services (ARES), for an undisclosed sum. ARES develops websites for agents and brokers related to organisations that are members of a Multiple Listing Service system. The system is a database of property listings designed to facilitate the exchange of information between agents representing buyers and sellers. This membership is crucial for Edgeio to be able to include the listings on its website. Venturebeat notes that regulatory pressures entail that "a website must have a direct relationship with an agent or with a regional MLS in order to show detailed data on homes". As ARES' agents and brokers are affiliated with a MLS, Edgeio is able to include their listings among its property search results. Competitor property search engines such as Zillow and Trulia do not have the required relationship and consequently struggle to include a useful level of data about the properties that they list.
Deal Details
- Status completed
- Buyer edgeio
- Seller Adaptive Real Estate Services
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