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Remine CEO Fredrick Townes steps down after seven months

David Borrillo will serve as interim CEO until a replacement is found

After just seven months at the helm of Remine, Fredrick Townes is stepping down as CEO of the real estate technology company.

Townes, who joined the company in April, was formerly the chief product officer of Ready Education.

“I am thrilled for the opportunity to lead Remine and grateful to our board of directors for entrusting me with this role,” Townes said in a statement in April. “Throughout my career, I have enjoyed helping companies in this space evolve and flourish. Remine is well-positioned to take the next step, and I intend to help the company realize its potential.”

According to a spokesperson for Remine, David Borrillo, Remine’s chief technology officer, will serve as interim CEO until a replacement is found.

“We thank Frederick for his leadership to date and wish him the best in his future endeavors,” the spokesperson wrote in an email.

Remine was launched in November 2015 under the name “Real Deal” before eventually becoming Remine Inc. Since launching, Remine has expanded to include a suite of digital real estate tools, including Remine ProRemine MobileDocs+ Transaction Management and MLS 2.0, and its customer base is made up of nearly 60 Realtor associations representing 1.2 million real estate professionals. The company was co-founded by former real estate professionals including Mark Schacknies, Jonathan Spinetto, Leo Pareja, Daniel Huerta and Jad Meouchy.  

In July 2020, Inman reported on allegations of unprofessional conduct by executives, including Shacknies, which former employees said contributed a poor company culture. Former employees described it as “bro” culture run amok. The firm also went through multiple rounds of layoffs between 2019 and 2020.

In October 2021, Remine was acquired by a joint venture, MLS Technology Holdings, LLC, formed by four of the nation’s largest multiple listing services: the Austin Board of Realtors’ ACTRIS MLSFirst MLS in Atlanta, Heartland MLS in Kansas City and Miami Realtors’ MLS. The joint venture stated that the collaboration came from a shared desire to further technological advancements in real estate through the acquisition of technology companies.