Mortgage lender Lower has acquired the home search site Movoto, marking another consolidation in the real estate industry. Movoto's president highlighted that the company has been competing against larger firms for years, and this acquisition is expected to enhance its market reach and provide consumers with a more comprehensive end-to-end homebuying experience. The deal aligns with recent industry trends, such as Rocket Companies' acquisition of Redfin, reflecting a move by mortgage lenders to expand their presence in real estate technology. Lower aims to build an "end-to-end homeownership" platform, which is increasingly viewed as a key objective in real estate technology innovation.
The deal will give Lower greater reach, while also contributing to an "end-to-end homeownership" platform — increasingly the holy grail of real estate technology. https://t.co/23QBNhnfG1
Industry shakeups: Corporate chaos or business as usual? https://t.co/phLw8NapGs #realestatenews #realestate
ANOTHER HOME LISTING SITE BOUGHT UP BY A LENDER Listing site @movoto to acquired by mortgage lender Lower "a move that echoes the recent acquisition of Redfin by Rocket" https://t.co/z472urkO6M https://t.co/3uXzp2CTxb