Schibsted has bought a share of just over 5% in Linear, a customer relationship management (CRM) tool that lets realtors handle the entire assignment in one place. Launched in 2020, the service is used by 5% of the real estate agents in Finland, and the company now plans to expand into other countries.
The CRM tool includes digital styling, renovation, floor plans and virtual viewings, according to a Schibsted announcement. The investment will help prepare the company for digital development in the real estate business, as it branches out with e-sales of homes and offers new services to brokers.
“From the start, Linear’s idea has been to improve real estate agents’ everyday life with the help of digitization and artificial intelligence,” said CEO and co-founder Miro Eriksson. “As a challenger in the market, we have focused on the competitive advantages of agile development and building a comprehensive system that can connect banks, the tax authority, suppliers of marketing materials, and more. With Schibsted on board, we aim to offer our tool to more markets.”
Schibsted added that its Finland-based marketplaces — Tori, Oikotie and Rakentaja — together constitute Finland’s largest marketplace with real estate coverage, attracting over 50 million monthly visitors. “With the investment in Linear, the company gets an active owner, while Schibsted’s affiliated real estate agents can improve their sales processes and strengthen their operations,” added the firm.
Schibsted has doubled down on its focus on serving real estate agents. Last year, the company increased its holding in Eiendomsprofil to 100%, through Finn. Eiendomsprofil, which gives each home a social and geographical profile, has carved out a large market share in Norway. The company specializes in handling maps and geographical information systems (GIS) in online services for real estate agents. With only four employees, it has revenue of $3.3 million.