Zillow, a real estate marketplace, brokerage, financing, and agent support platform, has entered into an acquisition agreement with Follow Up Boss, a customer relationship management platform focused on real estate professionals, for a sum of USD 500 million comprising of USD 400 million in cash consideration and USD 100 million in potential cash earnout over a three year period.

Founded in 2011, Follow Up Boss is a customer relationship management platform that allows real estate professionals, agents, and teams to organize, engage with customers, close deals, and handle customer engagements.

Through this acquisition, Zillow intends to leverage the Follow Up Boss platform to improve customer experience and support further investments across its product offerings. Following the close of this transaction, Follow Up Boss will remain an independent brand and operate as a standalone platform regardless of whether an agent engages with Zillow’s platforms.

Analyst QuickTake: Zillow’s acquisition announcement of Follow Up Boss marks its third acquisition within the past 12 months since the acquisition of VRX Media to expand marketing services through the ShowingTime+ brand in December 2022, followed by the acquisition of Aryeo to improve ShowingTime+ offerings in August 2023.