Mitesco, Inc. has initiated development of specialized versions of its Robo Agent application tailored for the residential mortgage and insurance industries, responding directly to consolidation trends within the real estate sector. The company identified the growing movement toward vertical integration of residential real estate agencies to incorporate financial products such as mortgage and insurance services as a key market driver. Mack Leath, Chairman and CEO, explained that recent industry developments including the merger between Compass and Anywhere and compensation changes resulting from the NAR settlement are creating pressure for improved efficiency across all participants in the residential real estate ecosystem.
Leath emphasized that both mortgage and homeowners' insurance represent longer-term products with extended profit opportunities beyond immediate sales commissions, making them strategically attractive additions to real estate businesses. The expansion will leverage client data collected through the real estate agent version of Robo Agent, making this information more readily accessible to mortgage and insurance providers. This development occurs as the industry witnesses increasing combinations like the Rocket and Redfin transaction, which Leath believes will become essential for real estate businesses to survive and expand in the current market environment.
Brian Valania, General Manager for Centcore, detailed how the Robo Agent sales force automation solution enhances the value proposition of the Centcore data center compared to larger metacenter providers. He stressed that Centcore's size enables rapid customization of solutions for clients in highly competitive industries including residential real estate, mortgage provision, and insurance agencies, offering substantial savings for processing and backup requirements. The company plans to release the first version of Robo Agent for Realtors in Q4 FY2025, with the Mortgage version following in Q1 FY2026.
Both applications will be available exclusively through the Centcore Data Center, which operates from Melbourne, Florida and maintains eight backup sites worldwide. This expansion targets a substantial market encompassing over 6,000 mortgage companies operating in the United States and more than 3 million real estate agents, including 1.5 million affiliated with the National Association of Realtors. Leath stated these initiatives demonstrate Mitesco's commitment to shareholders and investors, with the company maintaining focus on building a successful growth-oriented business centered on digital markets.
The company will continue its acquisition strategy, targeting complementary businesses in software, data center services, and emerging tech verticals that enhance scale and support long-term margin expansion. Mitesco anticipates moving its share listing to a senior exchange, and potentially an international exchange, during FY2026, subject to growth capital availability and market acceptance of their offerings. This strategic expansion positions Mitesco to capitalize on the evolving real estate landscape while creating additional revenue streams through financial service integration.
