Wednesday, April 23, 2008

RealtyTrac: Selling data to RE/MAX

A new consumer foreclosure property search feature has been added to thousands of RE/MAX websites thanks to a new strategic partnership with RealtyTrac. The sites will feature foreclosed properties in Northern Illinois, New Jersey, Kansas, Missouri, Oklahoma, Arkansas, Alabama, Louisiana, Mississippi and Michigan.

Reliance Network, a developer of Web-based applications for real estate companies, is reportedly handling the technology.

RE/MAX is hoping that its agents will be able to capitalize on potentially hundreds of thousands of foreclosures by offering up the properties alongside the company's traditional MLS listings. The company says this will provide a "true 360-degree view of the market."

Moving foreclosed properties, or Real Estate Owned (REO), will be big business over the next few years.

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