With Top Producer acquisition, Constellation Real Estate Group acquires another industry leader and secures dominant share of real estate CRM and marketing tools for real estate professionals.
BELLEVUE, WASH (PRWEB) MARCH 1, 2020 – The Constellation Real Estate Group (“CREG”), a portfolio of vertical market software companies within the Perseus Operating Group of Constellation Software, Inc., announced today that it has acquired the business of real estate software pioneer Top Producer® from Move, Inc., a subsidiary of News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] and operator of realtor.com®. The acquisition includes Top Producer’s full suite of products including Top Producer 8i and its newly designed TPX CRM, Market Snapshot, FiveStreet and Top Producer Websites along with over 27,000 customers and 70 Top Producer employees.
“The Top Producer business is an incredible fit within our portfolio of real estate software companies,” said Scott Smith, President and Managing Partner of the Constellation Real Estate Group. “Market Leader and Top Producer, along with the 17 other brands in the Constellation Real Estate Group, solidify our foothold as the real estate industry’s largest provider of technology solutions. We’re excited to work with the Top Producer employees and customers in enhancing and growing the products and customer base. It’s an exciting opportunity for all involved.”
Founded in 1982 and purchased by Move in 2000, Top Producer solutions include the industry leading Top Producer CRM, which includes integrations with over 150 lead sources, social media insights, integrated MLS data, transaction management and workflows, and Market Snapshot reports and listing alerts. Top Producer products also include lead routing and response via FiveStreet and real estate websites.
“Top Producer® has been a part of Move’s portfolio for more than 20 years, and we believe the best opportunity for it to continue to add value to brokers and agents is under its new owner,” said David Doctorow, CEO of Move, Inc. “As we look forward, we’re prioritizing the things that will help us deliver the best possible experience for consumers and our industry partners. This sale will help us redouble our efforts to reimagine realtor.com® as we create an open marketplace that helps connect buyers and sellers with the right professionals and empowers people with choices that get them from search to closing and beyond. That includes prioritizing both our success-based concierge offerings as well as traditional lead-gen and marketing solutions.”
“We’re excited to have found a home with Constellation Real Estate Group,” said Vicki Cunningham, General Manager of Top Producer. “We’ve got a strong team that’s eager to continue to innovate for our customers, drive our industry forward and win in this space. We look forward to seizing the opportunity to double down on serving our customers through our core products with Constellation’s support and commitment to long-term customer focus.”
This acquisition further expands the Constellation Real Estate Group’s presence in the fragmented real estate technology sector, providing CRM and marketing solutions, transaction management, back-office software, and loan origination solutions for over 500,000 real estate agents, brokerages, franchises, and banks across the U.S. and Canada.
About Constellation Real Estate Group
The Constellation Real Estate Group acquires and invests in real estate software companies that are committed to providing long-term solutions and partnerships with franchises, brokers, agents, MLSs, and associations. CREG provides market-leading technology solutions designed specifically for the real estate industry through its portfolio of brands: Market Leader, offrs.com, SmartZip, Mortgage Builder, Sharper Agent, Zurple, Z57, Diverse Solutions, TorchX, Constellation1 (Real Estate Digital, Emphasys, Constellation Web Solutions, ReloSpec, Birdview, Baynet, Virtual Properties, and Paradym), Enspire and now Top Producer. Over 500,000 real estate agents, brokerages and banks across North America rely on CREG’s products and services to power, manage, and grow their businesses.
About Move, Inc.
Move, Inc., a subsidiary of News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV], operates a family of websites and mobile experiences for consumers and professionals, including realtor.com®. Move also offers software products and services to help real estate professionals serve their clients and grow their business, including ListHub™, the nation’s leading listings syndicator and centralized intelligence platform for the real estate industry.
About Top Producer
Founded in 1982, Top Producer is a leading provider of innovative software solutions for real estate professionals, including Top Producer® CRM, a premier real estate-specific CRM that enables agents to manage every stage of the client lifecycle; Market Snapshot ® reports and listing alerts; Top Producer ® Websites, and FiveStreet lead routing and response software.