Carrier to Buy BrokerBay, a Digital Real Estate Solutions Provider
BrokerBay will be merged with Carrier’s Supra brand, providing a one-stop shop for realtors to combine scheduling and mobile lockbox access.
PALM BEACH GARDENS, Fla. — Carrier Global Corp. (NYSE: CARR) has signed an agreement to acquire BrokerBay, developer of a real estate management Cloud ecosystem, undisclosed terms.
The software’s ability to reduce a brokerage’s administrative workload, streamline the real estate scheduling and showing experience, as well as standardize electronic lockbox access, is said to strengthen Carrier’s access control solutions offering within its Fire & Security business.
“The acquisition of BrokerBay delivers on Carrier’s long-standing commitment to growth and innovation,” says Jurgen Timperman, president, Carrier Fire & Security. “Our Supra real estate lockbox management and mobile credentialing business paired with BrokerBay’s capabilities to deliver advanced digital solutions will improve efficiencies for North American real estate agents, while also driving our strategy of increasing recurring revenue through enhanced services.”
Supra, part of Fire & Security’s Access Solutions business, has been serving the real estate industry for over 60 years, with key mobile credentialing technology deployed across an installed base of four million locking devices in multiple industries. Supra enabled 45 million property showings in 2020, according to an announcement.
Following closing, which is expected in October, BrokerBay and Supra will provide a one-stop shop for realtors that is said to combine scheduling and mobile lockbox access in a user-friendly showing experience that reduces workload and provides actionable analytics.
“With increasingly high volumes in real estate showings, there is a need for agents to act with speed and efficiency,” says Jeffrey Stanek, managing director, Global Access Solutions, Carrier Fire & Security. “This acquisition will further ensure they have the best solutions available to succeed.”
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