May 24, 2018

App Offers a Way to Sniff Out More Inventory

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App Offers a Way to Sniff Out More Inventory

RealtyTrac Network has launched a new app that monitors millions of properties nationwide to identify distressed home owners who may be willing to sell their homes. 

The app, Seller LeadTrac, provides brokers with the characteristics of distressed properties to help them determine whether the house can be sold. The app encompasses information from a variety of sources: public records, tax data, distressed property statistics, bankruptcy filings, for-sale listings, postal records, and automated valuation models. 

RealtyTrac has identified more than 800,000 properties so far that are not currently for sale but are likely to be sold. 

"When you realize that these properties are owned by home owners who have defaulted on their mortgages and are extremely motivated sellers, you begin to understand the value of Seller LeadTrac," says Jamie Moyle, RealtyTrac CEO. 

Source: “RealtyTrac App Hunts for Potential Sellers Among Distressed Home Owners,” HousingWire (July 23, 2013)

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