Long & Foster Real Estate Takes Equity Stake in Moxi Works
Posted by LONG & FOSTER REAL ESTATE — October 2, 2015
CHANTILLY, VA - The Long & Foster Companies, parent company of Long & Foster Real Estate—the nation’s No. 1 family-owned real estate company—has invested in Moxi Works, acquiring an equity stake in the independent firm. Long & Foster is now a shareholder in the company, which was founded and is majority owned by Windermere Real Estate, a family-owned real estate brokerage based in Seattle.
Moxi Works is a technology company that specializes in leading-edge real estate tools for agents and brokerages. Its products are designed to help its clients win business in today’s hyper-competitive marketplace. The real estate tools that are built by Moxi Works leverage rich MLS data and a convergence of cloud computing, social media and mobile technology. The company’s goal is to give real estate tools to professionals that make them relevant and savvy for consumers throughout the process of buying and selling a home.
“By partnering with Moxi Works, Long & Foster has invested in the future of our real estate agents and our company,” said Jeffrey S. Detwiler, president and COO of The Long & Foster Companies. “Not only does the partnership enable us to stay on the leading edge of broker services, but also it helps ensure our agents have the tools necessary to achieve continued success in the business and to best support their home buyers and sellers.”
Detwiler joins the Board of Directors for Moxi Works, and through that role, Long & Foster will contribute to Moxi Works’ long-term growth and strategic development, supporting the company in its quest to help real estate agents better serve clients and win more business. It also creates an opportunity for Long & Foster and Windermere—the leading independent brokerages on the east and west coasts, respectively—to collaborate on technology innovation, all driven by common business objectives.
“Long & Foster has built its business by focusing on relationships, rather than chasing the latest trend or shiny object. Moxi Works’ sphere-based approach is built on this same philosophy and helps agents at all stages of their career, whether they are just getting started or seasoned professionals,” said York Baur, CEO of Moxi Works. “I’m confident that together – Moxi Works, Windermere and Long & Foster – we will continue innovating and delivering benefits to the real estate industry and consumers alike.”
Long & Foster and Moxi Works already have a successful history working together. In 2014, Long & Foster launched Presentation PRO Powered by TouchCMA, a Moxi Works product, across its over 200 sales offices in the Mid-Atlantic and Northeast. Since then, thousands of Long & Foster agents have been actively using Presentation PRO, and they’ve created over 27,000 interactive presentations in the solution. Presentation PRO is one of the most successful solutions at Long & Foster. The brokerage’s agents, in its annual agent satisfaction survey, have also indicated the tremendous value Presentation PRO provides in helping them to gain new business and support their clients.
“Windermere founded Moxi Works in an effort to revolutionize real estate technology by developing tools that empower agents to work smarter and be more productive. Long & Foster embraces this same philosophy, making it an ideal partner in this venture,” said OB Jacobi, president of Windermere Real Estate. “With our combined track records and proven industry expertise, as well as our shared commitment to our real estate agents and their success, we’ll help Moxi Works continue its expansive growth and develop even greater solutions for the real estate industry.”