RISMEDIA, May 16, 2008-Point2 Technologies Inc. (“Point2”), one of the industry’s largest independent providers of website and listing syndication software for real estate professionals, and RealtyTrac Inc., a leading online marketplace for foreclosure properties, announced a marketing partnership agreement that aims to extend both organizations’ market reach and exposure while establishing new revenue streams at the same time.
According to the two companies, Under the deal, Point2 will integrate access to RealtyTrac foreclosure listings, on www.Point2Homes.com. The integration will enable the site’s growing community of nearly 1.2 million unique monthly visitors to access and research the latest foreclosure and bank-owned properties in the United States, as well as related market data, through a simple subscription process.
“With interest in foreclosures unabated, our partnership with the industry’s leading provider of pre-foreclosure and bank-owned properties makes the consumer experience on Point2 Homes that much more valuable and comprehensive and it creates a new lead generation channel we can potentially leverage to drive more business to Point2 members,” said Saul Klein, Point2 Technologies chief executive officer.
“We’re extremely excited to partner with Point2 to integrate RealtyTrac foreclosure properties on Point2 Homes,” said Rick Sharga, vice president of marketing at RealtyTrac. “Point2 Homes has and continues to grow at a solid pace, mainly due to the appeal of its unique, rich and detailed listings online consumers seek today. This partnership will enable RealtyTrac to provide foreclosure data to Point2’s growing audience and thereby help us continue to carry out our mission of making foreclosure data more conveniently accessible to more people.”
Each month, says the company, 1.2 million unique visitors research real estate on Point2 Homes, which is reflected in 11 million page views, and 1,500 new listings are posted to the site daily by brokers and agents, augmented with up to 36 photos, property details, neighborhood information and virtual tours.
With U.S. foreclosure activity up 112% in the first quarter of 2008, foreclosure properties are becoming a more sizeable segment of the overall real estate market, generating more interest from buyers, investors and real estate professionals who want to tap into this previously hidden market.
The companies say that this announcement reflects part of a larger plan for cooperation between Point2 and RealtyTrac.