Zillow has acquired a leading creator of broker and multiple listing service (MLS) back-office software, Bridge Interactive Group.
Bridge Interactive helps brokers and MLSs address the complex world of listings management by implementing systems based on open standards from the Real Estate Standards Organization (RESO).
Brokers and MLSs use Bridge Interactive to help ensure the accuracy and security of their listings data in the myriad places it resides.
Best-known for its Real Estate Transaction Standard (RETS) tools, Bridge Interactive is a leader in implementing RESO standards.
Services also include the capability to improve the speed and efficiency of data distribution, bolster reporting capabilities and ensure listings are in compliance with local rules and regulations.
"Bridge Interactive has an outstanding team that has pioneered some of the industry's most innovative solutions for helping MLSs and brokers manage their data," says Zillow Group chief industry development officer Errol Samuelson.
"This company's offerings simplify a sometimes tedious process that many of our agent, broker and MLS partners face on a daily basis.
"We're confident our partners will see tremendous value in Bridge Interactive's offerings, and we're excited to help Bridge Interactive expand their platform to drive further efficiencies for brokers and MLSs."
Samuelson adds Bridge Interactive has achieved its success and outstanding reputation by enabling MLS and broker customers to maintain rigorous control over how and where their listing data is distributed.
The deal will not mean Zillow Group has any additional rights to publish broker and MLS listings data and it won't be able to access data stored on Bridge Interactive's servers, other than for the purpose of operating Bridge Interactive's systems.
"Bridge Interactive shares the same commitment to open data standards that Zillow Group does," Samuelson says.
"We both play an active role on the RESO board and have a deep understanding of the important role data standards play within the industry by fostering collaboration and innovation."
Bridge Interactive co-founder and CEO Pace Davis will transition to a new role as Bridge Interactive general manager and will report directly to Samuelson.
The company will remain an independent brand and current customers will see no immediate changes. Bridge Interactive's employees are now part of Zillow Group and continue to work out of their office in Atlanta, Ga.
Bridge Interactive's suite of tools include: