Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. company, and RealtyTrac, a leading online marketplace for foreclosure properties, 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).
According to the company, 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% increase from 2008 and a 120% 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.