Key facts
- HomeVestors acquired BlueSquIDX, a platform that uses MLS data and machine learning for property evaluation.
- The acquisition marks HomeVestors' first purchase and aims to expand its focus to on-market properties.
- BlueSquIDX has facilitated over $500 million in single-family home purchases.
- The platform is designed to significantly reduce the time franchisees spend evaluating potential deals.
- Steve Peterson, founder of BlueSquIDX, will join HomeVestors to enhance the platform.
HomeVestors, a real estate investment company known for its focus on off-market properties, has acquired BlueSquIDX, a software platform that leverages multiple listing service (MLS) data and machine learning. This marks HomeVestors' first acquisition and is intended to enable its network of over 750 franchisees to more efficiently identify, evaluate, and pursue investment opportunities listed on the traditional real estate market.
Historically, only a small fraction of HomeVestors' franchisees' purchases came from MLS listings, despite a significant portion of flipped homes being available there. The BlueSquIDX platform aims to streamline this process, which traditionally could take hours for evaluation and numerous offers to secure a deal. During a pilot program, the technology drastically reduced the time required for franchisees to pursue successful acquisitions, from approximately 100 hours to about four hours.
Brandon Gebers, HomeVestors Chief Growth Officer, stated that the acquisition provides an "easy button" for franchisees to access on-market properties. BlueSquIDX founder Steve Peterson will remain with HomeVestors to train franchisees and further develop the platform, supporting the company's strategy to capture a larger share of the listed home investment market.