Zillow Group just acquired Bridge Interactive Group, a creator of broker and multiple listing service back-office software.
“Bridge Interactive has an outstanding team that has pioneered some of the industry’s most innovative solutions for helping MLSs and brokers manage their data,” said Errol Samuelson, Zillow chief industry development officer. “Bridge Interactive’s offerings simplify a sometimes tedious process that many of our agent, broker and MLS partners face on a daily basis.”
Bridge Interactive helps brokers and MLSs address the world of listings management by implementing systems based on open standards from the Real Estate Standards Organization.
“We’re confident our partners will see tremendous value in Bridge Interactive’s offerings, and we’re excited to help Bridge Interactive expand their platform to drive further efficiencies for brokers and MLSs,” Samuelson said.
Bridge interactive is known for its Real Estate Transaction Standards tools. RETS is a framework used by the real estate industry to facilitate the exchange of data.
“Bridge Interactive shares the same commitment to open data standards that Zillow Group does,” Samuelson said. “We both play an active role on the RESO board and have a deep understanding of the important role data standards play within the industry by fostering collaboration and innovation.”
Here are the tools Bridge Interaction brings:
Contact: a RETS server which enables MLS administrators to review real-time queries, the number of listings, amounts of data requested and more. Contact stores every RETS action and presents the data in easy-to-read analytical reports.
Cheque: which enables MLSs to manage syndication of listings and to administer billing and account management services for MLS data recipients.
Compose: a web application for adding and editing listings in a variety of systems via RETS 1.x. As MLSs, franchisors and brokers evolve their metadata, for example by adding new fields and updating business rules, the Compose application automatically updates to reflect those changes.
“We have always been impressed with Zillow Group and the work the company has done to innovate and move the real estate industry forward,” Bridge Interactive co-founder Pace Davis said.
“We share many of the same attributes we’ve created great technology that drives innovation,” Davis said. “Now with the resources of Zillow Group behind us, we’ll be able to grow our technology further.”
Davis is transitioning from his role as CEO of Bridge Interactive to general manager, and will report directly to Samuelson. Bridge Interactive will remain an independent brand, and current customers will not see immediate changed. The company’s employees are now part of Zillow, but continue to work out of their office in Atlanta, Georgia.
“This transaction will help foster major improvements not just for our company but more importantly for our customers,” Davis said. “The acquisition will not change our agreements or our relationships with our customers, but as part of Zillow Group, Bridge Interactive will have access to the resources we need to invest in product innovation and customer experience.”
“We’re excited to become part of the Zillow Group family, and what that means for Bridge Interactive’s future and for our customers,” he said. “Zillow Group is a highly innovative industry leader and shares our belief in the importance of standards in the industry.”