VivaReal, a real estate site in Brazil, acquired 100 percent of GeoImovel, a Brazilian real estate research and analytics company. VivaReal, a top-2 vertical in Brazil, didn’t disclose the price paid for the asset, which is said to have the country’s largest database of existing properties and new properties or those in development.
VivaReal said it can now offer expertise in technology for sales management, as well as a comprehensive real estate database.
GeoImovel’s extensive real estate database covers more than 500 Brazilian cities, which together generate about 80 percent of the nation’s gross domestic product (GDP). The historical data include more than three million new developments that were launched in Brazil in the past 15 years.
“The acquisition [of GeoImovel] is in line with the company’s business plan to efficiently facilitate real estate transactions in Brazil,” said Lucas Vargas, CEO of VivaReal.
Despite the growing offer of real estate data by the top players, most verticals agree the real estate market still needs reliable, in-depth data about local real estate transactions.
“GeoImovel’s assets complement the services we offer. Consumers will get a geo-referenced understanding of the real estate offering, in a qualified way. Brokers and real estate agencies will be able to better orientate owners and buyers (or landlords) about the market’s situation. Developers will be able to take better decisions regarding new developments, and the management of their products,” Vargas told us.
The executive explained GeoImovel used to focus on mapping the local real estate market, while having a SaaS platform with access to an extensive real estate database and market intel. A second focus was property evaluation for banks.
Before the deal with VivaReal, GeoImovel split its two business lines to create a new company, GeoImobiliaria, which offers evaluation services to banks. Geoimovel then focused on its core business, which was real estate mapping, systems and market intelligence. And this is the company VivaReal bought.
Vargas said VivaReal wants to meet the consumer needs along the process of buying or renting a home. “We want to bring liquidity,” he said.
“That involves not only the search for a home, but also a lot of other steps. And, to efficiently facilitate all those steps, VivaReal needs to not only support the consumer, but also the other agents involved in the system, including brokers, real estate agencies, developers, etc. That’s why we offer marketing and sales management services through CRM, consulting through SuaHouse.com, and market intelligence services for different audiences,” he said.
Vargas said some topics – such as the correlation between the prices of new developments and the prices of existing properties – have “never been analyzed in an in-depth way”.
“In a few months, we’ll have a lot of original and extremely important studies, which will bring more transparency to the market.”