Matt Martin Real Estate Management (MMREM), a diversified national real estate services firm, is set to acquire online real estate auction company RealtyBid.com for an undisclosed sum.
MMREM plans to keep the RealtyBid.com brand intact. It will operate as a wholly owned subsidiary. What's more, MMREM will retain RealtyBid.com's current management team, the company says in a release.
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. The company was an early entrant 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, MMREM says in a release.
‘The RealtyBid.com platform is among the industry's elite auction sites for the complete range of real estate assets,’ explains 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.’