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Barbara Corcoran backs real estate website provider

By January 28, 2015 One Comment

Barbara Corcoran, founder of New York City-brokerage The Corcoran Group and current “Shark Tank” investor, has given her seal of approval to real estate website provider Real Estate Webmasters, making an investment in the startup that values the company at $50 million.

Real Estate Webmasters offers custom website development, marketing and software applications to real estate agents and brokerages.

In a general session at Real Estate Connect, Corcoran said she decided to back Real Estate Webmasters in larger part because of her confidence in the capabilities of Morgan Carey, CEO of the company.

“This guy can talk a dog off a meat wagon,” she said.

Carey revealed that he was able to form a relationship with Corcoran after telling her he thought her website needed an update, and offering to provide her with the overhaul.

“I had the design ready in case she was ready to listen to me,” he said.

Carey said he chased Corcoran as an investor for the prestige her support would bring the company, not because Real Estate Webmasters needed cash.

“I don’t need the money,” he said. “I need fantastic personalities.”

Real Estate Webmasters was recognized by Profit 500 as one of Canada’s fastest-growing companies for 2013. Carey said the startup has generated $20 million.

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