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Matt Martin Real Estate Management LLC (MMREM), a national real estate services firm, has announced an agreement to acquire RealtyBid.com. RealtyBid.com will retain its brand name and operate as a wholly-owned subsidiary of MMREM with its current management team intact. Financial details of the transaction were not disclosed.
Based in Rainbow City, Ala., RealtyBid.com was founded in 2001 by a group led by Tony Isbell, a 20-year veteran of the real estate auction business for residential and commercial properties of all types. RealtyBid.com was an early mover in the online property auction space and specializes in the expedited sale of many classes of residential and commercial real estate, including bank-owned assets, investment properties, condominiums, ranches and land, and mixed-use real estate. The company uses a proprietary technology platform to make transactions less cumbersome and more cost effective, while achieving market sales prices for sellers.
“The RealtyBid.com platform is among the industry’s elite auction sites for the complete range of real estate assets,” said Matt Martin, CEO of MMREM. “Our company has been at the forefront of diversified property services for ten years, and has thrived by being nimble and innovative. Online processes are the future for real estate asset sales, and MMREM is now able to help clients make that evolutionary change with the additional synergies provided by RealtyBid.com."
“This acquisition greatly expands MMREM’s capabilities with a proven disposition platform for owners of single family residences and commercial assets, and as an enhanced marketing option in foreclosure sales for third party trustees and others," Martin said. "Tony Isbell and his team of online auction professionals have done an outstanding job developing RealtyBid.com into one of the industry’s most valuable sites for real estate buyers and sellers."
MMREM operates nationally from its Frisco, Texas headquarters and offices in Virginia, Pennsylvania and California, providing a diversified array of vertically integrated services to the mortgage banking and investment industries. Its offerings include real estate asset management services, valuation, title, property and note acquisition, due diligence services, property preservation and inspection, among others. MMREM HOA Risk Mitigation, a division of MMREM, tracks hundreds of thousands of HOAs and provides automated surveillance on lender obligations, along with lien satisfaction process management services.