Dutch Portal Funda Acquires Commercial Player RealNext

Dutch commercial property platform RealNext has been acquired by NVM in a move that will see its assets incorporated into the existing brainbay operations.

brainbay was founded in 2018 by NVM (the Dutch Cooperative Association of Brokers and Valuers) which is also the majority shareholder of Dutch market-leading property portal funda.

The deal will see NVM acquire the domain and associated RealNext data with the goal of increasing market transparency. Sander Heidinga, Chairman NVM Business explained:

“The integration of the RealNext data will ensure a data concentration and quality boost of the brainbay database, with which our members can give even better advice and make more reliable publications.”

The RealNext platform, which as of today lists properties from 920 brokers, will be discontinued from November 30, 2021.

Founded in 2001, Funda is the market leader in the Dutch real estate market. Some 90% of the portal company is controlled by NVM, which is the largest association of real estate agents and appraisers in the country.

The real estate agents’ association was in the news recently when funda's CEO quit due to what the company called “tension and ambiguity between the corporate interests of funda and the various interests of its shareholders”. While minority shareholders would like to see funda go public, NVM is against the idea.