16 June 2020
Major business move for Real Estate industry connections business, YourPorter
YourPorter, the connections business that was born out of unprecedented co-operation by real estate groups, has had a majority shareholding taken up by market-leading utility comparison and connections service provider, Compare & Connect.
YourPorter was co-founded in November 2013 by CEO Tony Zarka and leading real estate groups to offer real estate agents’ ownership in the utility connections business. Over the intervening six years, the company has demonstrated exceptional growth and innovation.
The coming together of real estate groups to create an equity-based business that rewarded all partners with a fair referral program, was unique and quickly gained traction to the point where YourPorter has relationships with over 1000 real estate offices along the Eastern seaboard and throughout SA and WA.
This success made it a highly desirable asset for Compare & Connect, a technology driven utility comparison and connection service with a platform that powers many leading Australian comparison brands, finance aggregators, and real estate agencies who refer their customers to connect for essential utility services.
CEO of Compare & Connect, Mr Neil Saligrama, said “Compare & Connect is very excited about this acquisition as it gives us the ability to expand our digital ecosystem to more customers adding value to customers and real estate partners. For the first time, Compare & Connect will provide an end to end solution direct to customers moving home through the extensive network created by the YourPorter brand. The acquisition will, through technology and product offering delivered by Compare & Connect, allow YourPorter to add more value to its customer base.”
“Compare & Connect has seamless integrations with the majority of property technology companies and these capabilities will further strengthen the proposition as a group and will assist referral partners to grow their earnings.”
“We continue to look for opportunities to broaden our product offering and customer base and this acquisition aligns with that vision. Compare & Connect will complete several more acquisitions during the 2021 financial year.”
Speaking about the acquisition, Tony Zarka said “We are excited by this transaction with Compare & Connect as it allows YourPorter to leverage Compare & Connect’s large retail panel and digital experience while still offering choice for YourPorter customers. YourPorter will remain the brand that real estate agents work with and trust to provide their clients with a flawless service.
“We feel that the synergies attained will benefit our customers and partners through increased choice, products, digitalisation and reach. The combined business will deliver increased partner benefits through realising equity earnt, and give real estate offices, who want to enjoy future equity, the ability to do so.”
YourPorter’s unique acquisition structure will continue to reward those offices who have been on the journey with YourPorter through an equity earn out. It also means that real estate offices who join YourPorter over the next period, will also be entitled to earn equity each year and be rewarded for their contributions every 12 months over and above the lucrative referral commission in the market.
Innovation has been a big driver of YourPorter’s success and, with a focus on offering customers both convenience and choice across a panel of retailers, the company has recently developed a market-leading app to enable customers to connect both their electricity and gas via a mobile device anywhere, any time of the day. While it is clear that real estate offices are the first point of call when moving home, utility connection companies often find it difficult to reach their clients to arrange connections through traditional methods. Instead of relying on a phone based contact initiated by the connection company, the newly released app provides the customer the ability to logon to the app, accessing pre-populated customer information previously submitted by real estate offices, enabling the customer to select a retailer and complete a connection within 60 seconds.
With this new technology, extensive retailer choice, lucrative referral commission program, concierge service to landlords & sitting tenants and the opportunity to earn equity with a guarantee annual payout, YourPorter and Compare & Connect believe they offer a superior product to real estate agents looking to assist their clients in moving, no matter where they are in Australia.
To find out more please contact Tony Zarka at YourPorter email@example.com