Fascinating technology

Transactly CEO Bryan Bowles explains how technology can help, not replace, agents

Last year saw an overwhelming amount of investment flow into proptech and real estate tech, but as we move forward into 2022, it looks like this year’s market will likely be defined as seed investment and acquisitions. strategic markets.

A proptech company that focuses on acquisitions is Transactionallya technology platform focused on real estate agents that streamlines transactions in the home buying experience.

Since raising a $4 million Series A led by Hermann Enterprises in October 2021, the company has already made three acquisitions in the space, including Cake, 360 Home Connect and Rent Engine.

FinLedger recently spoke with Transactly CEO Bryan Bowles, who discussed how the company views the relationship between agents and technology, its recent acquisitions, and its plans moving forward.

Q: First, can you describe Transactly and the services you offer?

A: I think it’s important to understand our mission as a company, to be the platform of choice for people and businesses involved in real estate transactions. I want to emphasize the word people, and that we’ve seen that there’s a lot of technology being launched in this industry, especially with real estate agents, and that’s where we focus the most. Really, they just want to keep the human interaction involved.

We are a platform that provides technology services through automation integrations, to connect the real estate transaction end to end. We relieve agents of heavy hands for everything they need to do once they are under contract, from all the paperwork to scheduling, visits and inspections, to connecting buyers, utilities, etc We take care of all of this as a platform.

Q: What do you think is the biggest ask from agents and how do you help them move forward?

A: The home buyer sees the agent as the reliable source of information for the transaction and as the person who knows what is going on throughout the transaction. Whether it’s what’s going on with the mortgage company, the title company, everyone involved. In reality, they are poorly equipped and we are the company that intervenes and relieves the agent. We liaise throughout the transaction, through mortgage, title and services, whatever the agent needs to do. It’s sort of the easy button that we hope agents will push.

Q: How do you view this relationship between real estate professionals and technology? What do you think these professionals are looking for when you bring technology to them?

A: Well, we try not to bring technology, do we? Like any technology, it’s there and subtle, and you don’t necessarily need to use it as such. What we bring to them is someone who relies heavily on technology, automates a lot of what they do and integrates the work the agent has to do with mortgage and title companies .

We try to make it as passive as possible. Now agents can root and use our technology themselves, but most of them use it more for tracking. Where the real users of automation and power are is a role called a deal coordinator, and that’s the technical service we provide to those agents.

Q: Transactly recently acquired 360 Home Connect. Can you tell us about what this acquisition brings to the company?

A: Yes, it just provides another level of service to the agent, and what they can offer their homebuyer and realize that agent is that trusted source of information. Part of that is, ‘Okay, how do we turn on utilities for my new house?’ Well, 360 Home Connect is what they do. With this acquisition, we can now control that experience even more and integrate it into our platform to be at the forefront of product, but technically service whenever someone needs help with to order. Not just those utilities, but also telecommunications, internet, and everything else they need for their new home before the shutdown.

Q: You also recently acquired Rent Engine, what does that bring?

A: Yeah, so the same here. They were competitive at 360 [Home Connect], and they had some early MVP technology that we thought was very, very interesting and could be easily integrated into our platform. 360 brought a lot of relationship, sales, and domain experience, and Rent Engine brought some application, but more on the product industry side.

Q: Looking forward to the second quarter, what are your goals and plans moving forward?

A: He will always continue to save agents as much time as possible and help them improve the home buying experience for the consumer at the start of the second quarter. It means really integrating these acquisitions that we just made, if you want to be more pragmatic about it, and really integrating them into the platform that we have. This is another great deal we can offer agents and homebuyers during this process.

Q: Are you considering any other acquisitions or parts of the service that you want to add in the future?

A: We are no longer actively seeking further acquisitions. Quite frankly, these two partners came in as potential partners first, so I don’t see us making any more acquisitions in the very near future. That’s not to say we won’t, if someone is fairly aligned with what we’re doing and there’s an opportunity there, but I don’t foresee any in the near future.

Q: What is the Transactly team like and what are your growth plans there?

A: We currently have 84 full-time employees, along with another 143 Independent Contractor Transaction Coordinators (1099) who are affiliated with our brand.

In other recent proptech news, SmartRent announced plans to acquire maintenance services platform SightPlan in an all-cash, $135 million deal. Tishman Speyer also blocked $100 million for its first proptech fund.