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Real estate software company Inside Real Estate (IRE) has acquired Amitree, the company that developed email-based productivity solution Folio. Terms of the deal were not disclosed to Inman nor provided in the Feb. 16 press release.
Folio is an email extension that “reads” messages to automatically categorize critical transaction information, working within the two most-used email enterprises, Microsoft’s Outlook and Google’s Gmail. Its core functionality is supported by features like listing folder creation, deal timelines, listing imagery, date flagging, document management, a DocuSign integration for signature collection and form storage.
Joe Skousen founded Inside Real Estate, which acquired industry rival BoomTown in 2023. In a statement on his company’s latest pick-up, Skousen said Folio “couldn’t be more naturally aligned” with IRE’s vision.
“Folio by Amitree has helped solve the massive email productivity and data security problem in our industry,” Skousen said. “They follow the same innovation mindset we do at Inside Real Estate: deliver an enhanced consumer experience on behalf of the agent and build technology that works the way agents work, not the other way around.”
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Folio addresses a major industry hurdle as old as email itself — unorganized transactions. Because of the fragmented nature of real estate transactions, meaning too many stakeholders sending too many documents and deal points via email, pertinent information can be (actually) lost or deleted, disassociated from its root intent, risk-prone and generally unorganized. Folio leverages an inbox’s role as that random data conduit to make real estate transactions easier to manage.
Its DocGPT feature quickly summarizes and categorizes attachments for users directly from their inboxes, while each message sent to deal parties permanently becomes part of its respective transaction thread.
The press release states that, “To date, the company has organized over 2.5 billion emails and saved professionals over 3 million hours.”
BoomTown Pro (btPRO) was IRE’s latest major release, making it to market in under a year from acquisition, boasting “the best of kvCORE and BoomTown” in a single solution. The “CORE” suite of browser and mobile software for sales, marketing and brokerage enterprise management makes up IRE’s primary deliverables.
Inside Real Estate has a documented history of swift product internationalization. In addition to the btPRO rollout, it turned DashCMA into CORE Present, an interactive, live-market CMA product that worked alongside its existing suite.
It acquired back-office management application Brokermint in 2021 and a recruiting tool called AmpStats in 2022.
