Residential Real Estate RE/MAX acquires Durham technology startup

PHOTO: RE/MAX Holdings Inc. (NYSE: RMAX)

A global real estate company has acquired a Durham-based tech startup as it looks to capitalize on and monopolize the firm’s innovations in data analysis.

Denver-based real estate giant RE/MAX Holdings Inc. (NYSE: RMAX) announced Wednesday that is has acquired First, a Durham-based tech startup that uses data analysis and machine learning to help real estate agents maximize the value of their personal networks.

First’s services will eventually be exclusively available to RE/MAX agents, with an international roll-out starting in Canada before moving around the world.

“We have set our sights on becoming the global leader in real estate technology, and the acquisition of First is evidence of that steadfast commitment,” says Adam Contos, RE/MAX CEO. “With First, we found next-level talent combined with a game-changing service, delivering exclusive access to one of the best products for agents out there today.”

First CEO and cofounder Mike Schneider will stay on to head the newly-acquired company.