In a recent announcement, REA revealed its acquisition of 1Form.com.au, the leading online tenant application software widely used by both property managers and tenants across Australia. Founded in 2006 by Chris Koch and Chad Stephens, 1form has established a prominent market position owing to its integration with both Domain and Realestate.com.au.
Despite the acquisition, the founders will continue to work within the company for the next year while REA manages the transition of the company and its technology into their systems. While the founders believe that the acquisition was due to the technology, it is more likely that REA was attracted to the massive tenant database that 1form has amassed over the last eight years, containing millions of tenants’ details and behavioral trends.
With early success already apparent, it is predicted that ActivePipe has the potential to become a crucial element in the ongoing technological revolution within US real estate brokerages.
