Ruthvik
Nov 6,23
2 mins read
Zillow Group secures CRM system Follow Up Boss in an acquisition deal.
Zillow, the real estate giant, has made a significant move in the industry by announcing its acquisition of the popular CRM platform, Follow Up Boss. This strategic acquisition, valued at $400 million in initial cash consideration with the potential for an additional $100 million in cash earnout, is set to revolutionize the way real estate agents and teams manage their customer relationships.
Follow Up Boss, known for its excellence in customer relationship management, has earned a loyal following among real estate agents, including many Zillow Premier Agent partners and ShowingTime+ clients. Susan Daimler, the President of Zillow, expressed enthusiasm for this acquisition, stating that they are committed to providing tech solutions that enhance the experience for customers. She praised Follow Up Boss as the industry’s best CRM for agents and teams.
One key point of interest in this deal is that Follow Up Boss will remain an independent brand, retaining its standalone product offering. This means that Follow Up Boss clients will not be required to engage with other Zillow Group platforms to access their CRM system, preserving the platform’s integrity. The CRM will also continue to support third-party integration partners.
Furthermore, Zillow Group will maintain its support for third-party CRM integrations on the Zillow Premier Agent app, allowing Premier Agents to choose their preferred CRM provider.
Follow Up Boss, with its team of approximately 100 full-time employees, will become part of the Zillow Group following the acquisition’s completion. Co-founders Dan Corkill and Tom Markov expressed their excitement about having more resources to enhance their platform while staying true to their mission of empowering real estate teams and agents with cutting-edge technology.
This acquisition marks a significant step in the evolution of the real estate industry, as Zillow Group reaffirms its commitment to providing innovative solutions for agents and their clients. With Follow Up Boss as a valuable addition to their portfolio, the future looks promising for real estate professionals seeking top-tier CRM services.
