What Happened?
The last time Iggy’s House (listing portal)/ Buy Side Realty (partnered brokerage) made any splash was when they announced enhancements they would be making after they went M.I.A. but if/when the changes were made, they didn’t gain much traction.
Finally, the dwindling presence of Iggy/BSRealty may get a second chance as it was announced today that Minneapolis-based company Webdigs has “acquired the assets” of the two companies purchased for 7 million shares of Webdigs stocks (trading at 75 cents today) and “about $150,000” cash. Webdigs CEO Rob Buntz told Twin Cities Business Journal the companies “bring technology worth $3 million to Webdigs.”
What about Iggy’s/BSRealty staff?
Joshua Katz previously led the brokerage and will join Webdigs as “head of real estate brokerage in the United States” and Iggy/BS co-founder Joe Fox will be on the Webdigs board. It’s been a long road for this team and they’ve had their ups and downs so we are interested in how Webdigs will breathe new life into the companies.
Although Webdigs is a full service brokerage, they’re offering rebates and web promotions- are they poised to be the Redfin of the Midwest? Redfin began as a point & click concept (similar to the purchased concepts?) and has evolved into a rebate brokerage, could Webdigs master this geographical market before Redfin can?
Twin Cities Realtor, Jason Sandquist agrees that with this acquisition, Webdigs is similar to the Redfin model and notes that “it definitely looks like they have big(ger) plans.”
[cb type=”redfin”]redfin[/cb]
