Publicly
traded
real
estate
software
firm


reAlpha
Tech
Corp.
added
mortgage
lending
under
its
umbrella
by
acquiring
mortgage
brokerage
company


Be
My
Neighbor
on
Monday.

reAlpha
agreed
to
pay
Be
My
Neighbor
an
aggregate
purchase
price
of
up
to
$6
million.
This
consists
of
$1.5
million
in
cash
paid
on
the
closing
date,
$1.5
million
in
restricted
shares
of
the
company’s
common
stock
(or
1.15
million
shares
of
restricted
common
stock
for
$1.31
per
share)
and
up
to
$3
million
in
potential
earn-out
payments
payable
in
cash
or
restricted
shares
of
common
stock,
according
to
an

8-K
filing
with
the


Securities
and
Exchange
Commission
(SEC)
on
Sunday. 

reAlpha
provides
a
commission-free
homebuying
experience
through
an

artificial
intelligence-powered
chatbot
for
its
clients
while
also
offering
support
from
its
in-house
licensed
agents.

Be
My
Neighbor
will
enable
reAlpha
to
provide
integrated
mortgage
services
to
consumers
who
utilize
the
reAlpha
platform
to
purchase
homes,
reAlpha
said.

“This
acquisition
furthers
our
long-term
plan
of
developing
a
full-service
commission-free
homebuying
and
financing
technology
platform
powered
by
our
proprietary
AI
technology
and
dedicated
professionals,”
Brent
Miller,
chief
financial
officer
of
reAlpha,
said
in
a
prepared
statement.

Be
My
Neighbor
will
continue
to
operate
under
its
brand
led
by
co-founders
Christopher
Griffith,
Isabel
Williams
and
Nathan
Knottingham. The
Texas-based
lender
is
licensed
in
26
states
and
provides
15-year
and
30-year
fixed
mortgages,
including
government
loans,
203
(k)
renovation
loans
and
reverse
mortgages.

Debt
Does
Deals,
doing
business
as
Be
My
Neighbor,
has
29
sponsored
mortgage
originators
across
four
active
branches
in
Arizona,
Florida
and
Missouri,
according
to
the


Nationwide
Multistate
Licensing
System
(NMLS).

reAlpha,
which
brands
itself
as
a
commission-free
AI
homebuying
platform,
aims
to
consolidate
and
streamline
a

proptech
industry
that
is
too
fragmented,
according
to
its
website.

Since
being
founded
in
2020,
the

Ohio-headquartered
real
estate
tech
firm
has
acquired
four
other
companies,
including
recent
deals
involving
Singapore-based

AiChat
(which
develops
chatbots
and
automation
tools)
and
title
company

Hyperfast.

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