Expanded alliance gives consumers full gamut of property choices and products to help them make their decisions
Irvine, Calif. – Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. [NYSE: PRU] company, and RealtyTracTM, a leading online marketplace for foreclosure properties, today announced they are expanding their business relationship to more powerfully integrate RealtyTrac’s comprehensive national foreclosure data into Prudential’s national property listing website, www.prudentialrealestate.com.
Consumers using the website will be able to easily search more than 2 million default, auction and REO properties in the U.S. contained in RealtyTrac’s daily-updated database. They simply select the “Foreclosures” option in the Home Search box at prudentialrealestate.com and key in a desired location to view foreclosure properties generated in real time by RealtyTrac.
Prudential Real Estate and Relocation Services added foreclosure data to its property-search features on the site so that consumers can access pre-foreclosure and foreclosure properties (including auctions and bank-owned properties), along with MLS listings and other resources.
“Distressed properties represent a sizable portion of the current market and will continue to do so for some time,” said Earl Lee, president, Prudential Real Estate and Relocation Services. “We want to be sure our customers have the latest foreclosure information and, while working with Prudential Real Estate sales professionals, make the best property decisions.”
Nationwide, a record 2.8 million homes received foreclosure notices in 2009, a 21 percent increase from 2008 and a 120 percent increase from 2007. Foreclosures could continue increasing as mortgage loans reset during the next 12 to 18 months.
“Consumers must arm themselves with the best information available and the best representation to successfully navigate the foreclosure and short-sale market,” said Lee. “You can secure both very quickly at prudentialrealestate.com.”
Rick Sharga, RealtyTrac senior vice president, said his company strives to make the foreclosure-buying process easier and more convenient for real estate consumers. “We’ve recently enhanced our foreclosure data to help consumers identify the best bank-owned bargains and short-sale opportunities, and we’re excited to share these powerful new features with consumers using the Prudential website.”
The expanded Prudential-RealtyTrac alliance will also allow Prudential Real Estate Network brokers, sales professionals and employees to take advantage of the RealtyTrac Professional program, a proven online marketing channel designed to help real estate professionals generate new leads and new business opportunities from the red-hot foreclosure market.
RealtyTrac Inc. (http://www.realtytrac.com/) is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value. Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal. For more information, visit (http://www.realtytrac.com/).
Prudential Real Estate and Relocation Services, Inc. is Prudential’s integrated real estate brokerage franchise and relocation services business. Prudential Real Estate franchises are independently owned and operated. Companies are selected based upon outstanding performance records, high levels of customer service and shared business values with those of Prudential. Prudential Real Estate provides franchises with business strategies using Operation Reviews as well as numerous benefits, including access to Prudential Real Estate’s Online Seller AdvantageSM program designed to provide real-time information to sellers with the touch of a keystroke; and Online Buyer AdvantageSM, which enables consumers to easily search for property in all 50 states and the District of Columbia. Prudential Real Estate is one of the largest real estate brokerage franchise networks in North America, with nearly 1,700 franchise offices and approximately 60,000 sales professionals in the franchise Network as of Dec. 31, 2009.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $667 billion of assets under management as of Dec. 31, 2009, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. In the U.S., the company’s Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit www.news.prudential.com.