real estate software company Inside real estate announced on Wednesday the acquisition AmpStats, a SaaS platform for brokers to develop solutions around agent recruitment, retention and coaching.
The purpose of the acquisition is to strengthen Inside Real Estate’s product offerings to more than 400,000 agents, teams and brokerages while enhancing its recruiting functionality.
Terms of the agreement were not disclosed. However, AmpStats will remain a standalone product offering for brokerages in select markets.
AmpStats highlights performance metrics to help brokerages easily identify candidates, according to a press release about the acquisition. Features such as production data and transaction heatmaps are accessible for agent recruitment.
According to Inman, AmpStats takes in regional performance data and feeds it to agent profiles and broker alert systems, creating comparisons and matching agents to broker needs.
Brokers can also showcase their “impact and value” to potential agents through visualizations on net revenue comparisons and revenue distribution, according to the release announcing the acquisition.
Real-time data helps brokers access competitive intelligence, allowing them to increase profitability, said Jay Teresi, Founder and CEO of AmpStats.
Teresi will join the Inside Real Estate team as a member of the management team supporting back-office operations.
“AmpStats arms brokers and their leadership with the actionable insights they need to increase productivity and strategically expand market share,” Joe Skousen, CEO of Inside Real Estate.
Skousen added that integrating AmpStats into Inside Real Estate’s platform can help brokers manage talent through a data-driven recruiting and retention system.
Inside real estate published CORE Home, its homeownership technology, earlier this month. It is exclusively available to clients of its flagship platform, kvCORE, which enables brokers to create a unique technology ecosystem through client branding and integrations.
AmpStats will be integrated into this platform and will also be available for purchase by brokerage clients.