Yardi buys brokerage tool CommissionTrac
Yardi announced over Christmas the acquisition of CommissionTrac, an Atlanta-based software company that provides revenue management software for commercial real estate companies, with a focus on commercial brokerages.
Founded in 2015, CommissionTrac’s software is used by small and large brokerages to manage workflows, from tracking deal pipeline to invoicing clients to paying out commissions to individual brokers. The CommissionTrac team will continue to support their existing clients, while also integrating the platform into Yardi’s CommercialEdge suite. CommercialEdge is a recent addition to Yardi’s suite of products, focused on commercial brokers’ needs.
“At CommissionTrac, we’ve spent years developing a product to streamline the operations of a brokerage, while also providing greater visibility to brokers about their commissions,” said Turner Levison, co-founder and CEO of CommissionTrac. “By joining Yardi’s CommercialEdge division, we are excited to accelerate our impact in the commercial real estate space.”
Arjun Rao, senior director of global solutions at Yardi, said: “We’re very pleased to welcome the CommissionTrac team to the Yardi family. The team has built a strong product that perfectly complements our CommercialEdge suite, especially our marketing and deal management products. We are excited to work together to continue to add value to the commercial real estate space.”
CommercialEdge, powered by Yardi, consists of marketing and deal management products, as well as a flagship research product that provides extensive property, listing, transaction, ownership and debt information across all commercial real estate asset types. Clients can use the platform to uncover vital market data and insights, market their own listings, and manage deals to execution.
Yardi develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, California, and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.