Avail Acquisition: Key Details, Impact, and What Comes Next

Realtor.com has acquired Avail, a Chicago-based platform for DIY landlords and tenants. This strategic move aims to enhance Realtor.com's rental services and support a growing market segment. By integrating Avail's tools and resources, Realtor.com seeks to provide more value to landlords and renters, solidifying its position in the real estate industry.

What Is Avail?

Founded in 2011, Avail offers a suite of online property management tools tailored for DIY landlords. Its core services include rental listings, tenant applications, credit and background checks, lease agreements, online rent collection, maintenance tracking, and property accounting. Avail stands out with features like free listings on over 20 top rental sites, state-specific lease templates, and robust data security. Additionally, it provides extensive educational resources to empower landlords in managing their properties effectively.

Who Acquired Avail?

Realtor.com is a leading real estate platform that connects buyers, sellers, renters, and real estate professionals. It offers a wide range of services, including property listings for homes, apartments, and land, as well as tools for home value estimation, mortgage calculations, and agent comparisons. Endorsed by the National Association of REALTORS®, Realtor.com holds a significant position in the market, known for its comprehensive resources and trusted by real estate professionals nationwide.

When Was Avail Acquired?

Realtor.com acquired Avail on December 15, 2020. This acquisition occurred during the Coronavirus pandemic, a period marked by a surge in demand for online and contactless rental solutions. The timing aligns with broader industry trends towards digital transformation and the need for integrated, user-friendly platforms to simplify rental management. This strategic move reflects Realtor.com's commitment to enhancing its offerings for DIY landlords and tenants, catering to a growing market segment seeking efficient digital tools.

Why Was Avail Acquired?

• Market Expansion: The acquisition helps Realtor.com expand its market by integrating Avail's platform, which caters to DIY landlords and tenants. This merger aims to serve a large, growing, and underserved market, thereby broadening Realtor.com's reach and influence in the rental property management sector.
• Technology Integration: Avail's online and mobile platform brings together workflow tools that help independent landlords manage rental properties more easily and efficiently. This includes tools for creating and marketing rental listings, screening applicants, processing payments, and tracking maintenance requests, which will be integrated into Realtor.com's platform to enhance the overall digital experience for landlords and tenants.
• Competitive Advantage: By combining Avail's specialized tools for rental management with Realtor.com's extensive consumer base and platform capabilities, the acquisition strengthens Realtor.com's position against competitors. This merger is expected to deliver more value to DIY landlords and tenants, making the rental process easier and more rewarding, and allowing for faster platform improvements and the addition of new features.

Acquisition Terms

• Acquisition Price: The terms of the acquisition were not publicly disclosed.
• Payment Method: The payment method was not specified.
• Key Conditions or Agreements:
  • The entire 30+ person team of Avail, including co-founders Ryan Coon and Laurence Jankelow, will join Move, Inc.
  • There are no immediate major changes expected for the Avail brand, online tools, or resources.
  • Existing Avail users will continue to use their accounts as usual, with no changes to account settings or information.
  • Avail will continue to offer live customer service and maintain the same contact information.
  • Data privacy and security will be maintained, with all account information remaining intact and secure.

Impact on Avail

The acquisition of Avail by Realtor.com has led to significant changes in operations and management. The entire Avail team, including co-founders Ryan Coon and Laurence Jankelow, has joined Move, Inc., the parent company of Realtor.com. This integration aims to leverage Realtor.com's extensive resources and industry expertise to enhance Avail's platform capabilities. While no immediate major changes to the Avail brand or its tools are expected, the acquisition is set to accelerate platform improvements and introduce new functionalities, ensuring a seamless transition for both employees and users.

In terms of product offerings and services, Avail's existing tools for rental listings, tenant applications, and rent collection will remain available. However, the integration with Realtor.com promises future enhancements and expanded functionalities, benefiting both landlords and tenants. Employee reactions have been positive, with Avail's leadership expressing excitement about the opportunities this acquisition brings. Customer reactions, while not explicitly detailed, are anticipated to be favorable due to the enhanced services and support resulting from the merger. For founders considering business transitions, tools like Sunset can assist in managing such processes compliantly and efficiently.