Homekeys announced today that it has concluded the acquisition of the assets of HomesDirect.net and approved investment in six strategic initiatives to support domestic and international renters, buyers and sellers of residential real estate in the State of Florida.
In November of 2007, the companies signed a definitive agreement under which Homekeys would acquire selected assets of HomesDirect. "We felt that Homekeys and their unique technologies was a perfect match for us. Our models were compatible, there were significant synergies and the combination delivered immediate benefits," stated Miguel Correa, former President of Homes Direct, and now VP of Sales for Homekeys.
"We are growing at a time when others are contracting and that is always good news. This acquisition triples our presence in Dade and Broward counties and strengthens our position in Palm Beach County," said Manuel J. Iraola, President and CEO of Homekeys. The company also announced that it will continue to look for accretive acquisitions both within and outside the State of Florida.
Despite the downturn in the market, Homekeys is encouraged by the substantial progress of its consumer-centric business model and the increasing popularity of its real estate portal and research tools. As a result, the company will implement the following Florida initiatives and plans to begin its national expansion in 2008:
Branding HomesDirect.net as HomekeysDirect, to supplement Homekeys existing real estate services with for sale by owner offerings
The statewide launch of an online geo-targeted local advertising platform
The launch of a home rentals (beta) web site to serve 50 Florida counties
Entrance into the luxury homes market beginning with Florida's Collier County (beta)
The development of My City Voices, a Homekeys public service site
The hiring of 100 licensed real estate agents across the State of Florida
"Homekeys is uniquely positioned to emerge from this cycle as a leading developer of technology based real estate applications and as a provider of highest quality services and richest savings. The days in which low cost was synonymous with poor quality are over. Our business has been steadily growing during the last three years as tech savvy consumers realize that technology allows you to provide high quality services at a fraction of traditional commissions," said Iraola.
Iraola describes Homekeys business model as providing "the touch and feel of people with the heart and soul of technology". "There is a misconception that technology will replace the agent when in reality technology is a tool that makes an agent more effective and more efficient," he added.
"But let's not fool ourselves; consumers want to see the economic benefits related to the use of technology. Frankly, what consumers want is full service at a lower cost and companies that can provide that combination will have a competitive advantage. That is what Homekeys is all about."
About Homekeys
HomeXperts Inc. d/b/a Homekeys is a South-Florida based developer, integrator and distributor of innovative Web-based content, applications and resources for the real estate market. The company offers Floridians more ways to buy and sell, all backed by Homekeys' innovative technology and services.
HomeXperts Inc. d/b/a Homekeys is a real estate broker in the State of Florida licensed (License CQ1019055) by the Florida Real Estate Commission through the Department of Business and Professional Regulation, Division of Real Estate. HomeXperts Inc. d/b/a Homekeys is an Equal Housing Opportunity Corporation and abides by the Code & Ethics of the National Association of REALTORS®.