RealtyTrac, the marketing partner of U.S. real estate listing site Trulia, has added and is scheduling additions of features that help consumers and agents with purchase and sale of distressed properties.
In an exclusive conversation with Rick Sharga, SVP at RealtyTrac, we learned that the foreclosure site has more than 3 million listings, and that nationwide there were 544,054 sales of property in some stage of foreclosure — default, scheduled for auction, bank-owned REO — from January 2009 through September 2009.
The latest RealtyTrac feature is integration of MLS records.
“We integrated about 2 million MLS records into the Web site so homeowners can get in touch with the listing broker,” said Sharga “It used to be that you would find the properties and then do a separate listing search.”
Coming soon is a short-sale platform that will allow distressed home owners to identify themselves so they can be connected with a Realtor specifically trained in short sales.
RealtyTrac will create a special promo section for these short-sale specialists. In the first half of this year the site will also introduce age-based repair estimates, to allow consumers to selectively identify differing repair costs based on neighborhoods and age of the home.
“Consumers and investors had both expressed concerned over the costs of repairs to foreclosed homes,” said Sharga.
During this conversation with Sharga, he talked about the rumor that Google might be buying Trulia. For his and others’ thoughts on that subject, see CIR 11.01. Clients, you’ll be seeing it in your e-mail box January 14.