IRVINE, Calif. – July 16, 2008 — RealtyTrac (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, and First Team Real Estate (www.firstteam.com), the #1 independent real estate brokerage in southern California, announced today a strategic alliance that will allow consumers using the First Team website to search for foreclosure properties.
The foreclosure search is seamlessly integrated into the First Team website’s “Find a Home” feature and allows users to browse real-time foreclosure data furnished by RealtyTrac. First Team agents receive leads from consumers who fill out a free registration form for more detailed access to the foreclosure listings or fill out a contact request form to get help with a specific property.
“With foreclosure activity on the rise nationwide and in Southern California, it is a logical extension of First Team’s business model to include foreclosure information on its website along with the MLS information it already provides,” said Rick Sharga, VP of Marketing for RealtyTrac. “By adding foreclosures to its product line, First Team is providing consumers with valuable information while also giving its agents an opportunity to add a potential income stream to their businesses during today’s difficult real estate market.”
This new comprehensive property search feature allows the public access to properties in all three stages of the foreclosure process — pre-foreclosure, auction and bank-owned (known as REOs). Conducting a property search in this manner is convenient for consumers who are seeking to find bargain properties. At the same time it allows First Team real estate professionals a chance to offer these would-be home buyers assistance in navigating this complex area of real estate.
“Teaming up with RealtyTrac has provided us with an opportunity to grow the scope of our real estate web services on a grand scale, thus demonstrating our commitment to providing the public with the best information the industry has to offer,” said Cameron Merage, Founder, President and CEO of First Team Real Estate. “The foreclosure search feature is just the latest of many consumer-friendly search tools we provide from our home page. We are particularly excited about the extra functionality this partnership brings to the table as we continue to seek opportunities to grow our business in the future.”
As the foreclosure trend continues to gain momentum, more and more First Team agents have added foreclosures, short sales and bank-owned (REO) properties to the arsenal of real estate services they offer to the public.
About First Team Real Estate
First Team Real Estate, headquartered in Orange County, is the # 1 independent real estate company in southern California. Founded by President and CEO Cameron Merage with five agents in one office in 1976, today, First Team boasts a staff of over 2,000 real estate agents and employees operating in 65 offices across the region.
First Team wins market share in any economic climate through innovation and proprietary marketing tools such as HOT BUYS ® and Market Trends and targets the luxury market with First Team Estates’ “Live Beautifully” concept. First Team is a partner with Yahoo! Real Estate and offers Bankers Funding® mortgages through Wells Fargo Bank®. The company’s “First in our Hearts” Foundation is known for its generosity to the Southern California community.
About RealtyTrac Inc.
Ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies, 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, Irvine, Calif.-based 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.
First Team Media Contact: Nadene Bristow/Dominique Pacheco: 310-322-9911
RealtyTrac Media Contacts:
949.502.8300 Ext. 139
949.502.8300 Ext. 268
Detailed & Historical Data:
949.502.8300 Ext. 158