Real estate agents and brokers who use Reliance Network LLC to power their Web sites will be able to provide visitors with access to data on foreclosure properties from data aggregator RealtyTrac Inc.
The partnership between Holland, Penn.-based Reliance Network and RealtyTrac of Irvine, Calif., will allow Reliance Network’s clients to embed a search tool on their site, enabling visitors to look for properties that are in pre-foreclosure, are slated for auction, or have been repossessed by banks.
That, in turn "will help drive more traffic and leads to the agent Web sites,” said Rick Sharga, vice president of marketing at RealtyTrac, in a statement.
According to RealtyTrac, there were more than 2.2 million foreclosure filings on 1.2 million properties during 2007, a 75 percent increase from 2006.
Reliance Network provides complete Web sites on a wholesale basis to brokers for their company and agents, and does not provide its services directly to agents. The company offers market exclusivity to clients.
ForeclosureRadar, which collects data on distressed properties in California, this week made available a search tool widget that allows real estate brokers and agents to provide information on foreclosed and bank-owned properties through their Web sites. The company said it expects to roll out its Foreclosure Listing Exchange (FLX) platform in other markets by the end of the year (see Inman News story).
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