The acquisition is subject to customary closing conditions and approval, and is expected to close in July 2022. The financial terms of the deal were not disclosed.
eXp said it hopes the acquisition will bolster the brokerage’s online lead generation, home search and listings portals opportunities.
“Online home search and lead generation portals are critical tools in residential real estate – both for customers looking to buy and sell homes, and our agents building their businesses,” Glenn Sanford, CEO of eXp World Holdings, said in a statement. “This acquisition is a testament to our continued investment in growth to differentiate, be a destination brokerage and give our agents a proprietary option for nurtured and inside sales qualified leads.”
Zoocasa is owned by CEO Lauren Haw and a group of investors who purchased Zoocasa in 2015 from telecom giant Rogers Communications. According to the release, the platform has nearly 12 million annual visitors and 150 in-house real estate agents.