Sluggish market conditions, consumer demand for single property Websites, industry partnerships and acquisitions translate to highest number of PowerSites sold and highest revenues for a single quarter.
Wappingers Falls, NY – October 11, 2007 – AgencyLogic (www.agencylogic.com), the largest real estate industry provider of single property Websites in North America, today announced record growth of their PowerSite product for the third successive quarter.
Third quarter reports indicate that a record number of single property PowerSites were sold bringing company revenues from AgencyLogic to an all time high. When comparing the third quarter of 2006, the company shows a 34% increase in total revenue, which includes a 162% increase in revenue generated through their vender program. Compared against last quarter, the total number of PowerSite licenses sold increased 22%, setting a new company record.
“Following a reorganization of our affiliate program in January, this segment has generated consistent revenue growth of more than 50% for each quarter of 2007.” said Stephen Fells, CEO of AgencyLogic. “Most impressive is growth in the number of PowerSite licenses sold through our vendor network which grew 374% versus the same quarter last year. Our affiliates and private label partners sold more PowerSite licenses in the third quarter than the first two quarters of this year combined. This bodes well for the remainder of the year and 2008 as we expect to announce additional significant partnerships later this month.”
With an overall slowing in real estate nationwide and a tightening of budgets, franchises, brokers, and individual agents are faced with marketing property in an increasingly challenging environment. This has fueled growth in sales of single property Websites as marketing dollars move away from traditional print media towards more effective online alternatives. Additionally, sellers have higher expectations from their Realtors and look for a marketing plan that includes extensive online exposure through products like PowerSites. With free submittal to numerous search outlets and the capability of posting full, graphic flyers to classified sites like eBay and Craigslist, AgencyLogic PowerSites provide the focused exposure demanded by this ever tech savvy market.
“Client feedback has helped us create a single, but more importantly effective, tool to market a listing. Their suggestions make up the vast majority of enhancements and have helped us increase the versatility of PowerSites through ancillary services,” said Mark Wayman, CIO of AgencyLogic. “One revenue generating feature has seen growth of over 500% versus last quarter which confirms that our focus on continually innovating and adding to what is already the single richest online source of information for one property is one that works.”
AgencyLogic PowerSites contain all of the information that buyers are looking for about a particular property – in one Website. They allow Realtors to create comprehensive, single property Websites for as low as $35. Each PowerSite includes a Website address e.g., www.123AnySt.com, one year of hosting and all the tools needed to describe the property in detail, add photos, floor plans, create slideshow tours, upload related documents, map the property, create custom links, add video, blogs or podcasts as well as marketing tools such as free syndication to the major real estate search engines.
About AgencyLogic
AgencyLogic is a division of Network Earth, Inc., an international technology company that specializes in Web-based software development for businesses. Network Earth’s expertise includes application and Website development as well as new venture startups. It was founded in 1995 by two British technology experts in order to take advantage of new business opportunities in the burgeoning Internet and World Wide Web arenas. Today, PowerSites are the company’s main product, and are revolutionizing the way Realtors are marketing properties online by allowing them to affordably create a single Website for every listing. For more information, please visit www.netearth.com, www.agencylogic.com or http://powersiteblog.com.
Media Relations Contact:
Robin Morgan
Marketing Director
Toll Free: 1-888-201-5160 x 205
Canada: (866) 484-2644
Fax: 845-227-6497
AgencyLogic
14 Cambridge Court
Wappingers Falls, NY 12590
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