New Tool Engages Buyers, Provides New Comps for Sellers and Sets Realtors into Foreclosure Marketplace

RISMEDIA, April 9, 2008-ForeclosureRadar, a company that tracks every foreclosure in California with daily updates on foreclosure auctions, announced the launch of its Foreclosure Listing Exchange (FLX) platform for real estate brokers and agents. FLX enables real estate practitioners to offer free foreclosure property search on their own websites via a customizable widget. FLX also includes tools for managing inquiries and generating comparative market analyses using foreclosure properties. The service is currently available in California.

“Consumers are clamoring for foreclosure information and FLX empowers real estate professionals to give it to them,” said Sean O’Toole, founder of ForeclosureRadar. “Most consumers are in the dark about the foreclosure market, yet these properties outnumber MLS for-sale listings in many areas. FLX helps consumers and real estate professionals work together to create a more efficient and transparent foreclosure marketplace.”

According to the company, FLX integrates with a real estate broker or agent’s website much the same way an MLS search tool or widget does and requires no coding or database integration. FLX features the broker or agent’s brand and website look and feel. All inquiries generated from FLX are routed directly to the broker or agent. Additionally, brokers and agents subscribing to FLX have access to ForeclosureRadars’s full suite of tools and market analytics, which go well beyond the ubiquitous and often out of date foreclosure lists peddled on the Web.

“Two of our biggest challenges right now are engaging buyers who may be on the fence and working with sellers to price their homes correctly given current market conditions,” said John N. Melo, CEO of Century 21 M&M and Associates, a CA based brokerage company. “FLX delivers a compelling solution by giving us new and totally unique way to illustrate new buying opportunities and, on the listing side, provide our sellers with much more accurate pricing opinions.”

“We have one foreclosure problem right now – we should not create another by leading consumers to believe that buying foreclosures is either quick, easy or risk free. FLX gives them free access to important data in a context where they can get the help they need from a local real estate professional,” continues ForeclosureRadar’s O’Toole.

FLX, says the company, is available to brokers and agents on a monthly subscription basis.

For more information, visit www.ForeclosureRadar.com.

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