Real Acquires Flyhomes’ Ai-powered Home Search Portal

Real is looking to propel its AI game through its acquisition of Flyhomes’ AI-powered search portal, according to an announcement on Tuesday. Through this acquisition, Real is also gaining all of the assets related to Flyhomes’ portal, including the engineering team that has worked on the platform. 

“By bringing Flyhomes’ consumer technology under the Real umbrella, we’re combining the best in real estate innovation to deliver a seamless, AI-powered experience—designed around people—for both agents and consumers,” Tamir Poleg, the chairman and CEO of Real, said in a statement.

In addition to this acquisition, Real has also made an equity investment in Flyhomes. The companies say this investment will support Flyhomes’ evolution into a wholesale mortgage lender. 

According to the release, within the coming months, Flyhomes’ consumer portal will be integrated into Leo for Clients, Real’s AI-powered consumer product. The consumer-facing product is an extension of Real’s AI agent assistant Leo. 

The companies also announced the Real will be offering Flyhomes “Buy Before You Sell” financing solution through its subsidiary One Real Mortgage. 

“As we focus on scaling our ‘Buy Before You Sell’ financial products nationwide through the wholesale mortgage channel, we made the strategic decision to transition the portal and the team to the best environment for continued growth,” Tushar Garg, the co-founder and CEO of Flyhomes, said in a statement. “Real is uniquely positioned to take it forward, with the vision, agent network and technology infrastructure to fully unlock its potential.”

Poleg said Real is excited to bring Flyhomes’ financing products to its agents and their clients.

“It’s another step forward in simplifying the real estate transaction,” Poleg said.

While the exact financial terms of the deal are not being disclosed, Real said both the acquisition and the investment were funded with existing cash on hand and the company said it does not expect the transactions to have a material impact on Real’s financial results this year. 

This acquisition is the latest in a string of merger and acquisition action occurring in the housing space this year. Some notable mergers include that of Redfin and Rocket Companies, which closed on Tuesday, as well as Rocket’s acquisition of servicer Mr. Cooper, and mortgage firm Lower‘s acquisition of home search portal Movoto.