Changing market conditions and the release of new Vendor Programs drive strongest year ever for AgencyLogic PowerSites.
Wappingers Falls, NY – January 29, 2008 – AgencyLogic (www.agencylogic.com), the largest real estate industry provider of single property Websites in North America, today announced the fourth consecutive quarter of record growth in registrations, sales and revenue for their PowerSite product. Year-end numbers also topped 2006 in several key areas.
By far, the largest growth was seen in business generated through vendor relationships. Only publicly announced in December 2007, the AgencyLogic Affiliate Program and the AgencyLogic Private Label Program offer an opportunity for companies to choose the price of a single property Website while additionally generating revenue. With AgencyLogic providing all technical support, software development, infrastructure and paying all merchant fees and domain name costs, the programs allow vendors to focus on the sales and marketing of the single property PowerSite product.
Fourth quarter 2007 versus 2006 total registrations increased by 62% with vendor generated registrations increasing by 150%.
Sales of single property Website licenses saw the greatest growth with a 74% total increase year to year and a 276% growth in vendor generated sales. Sales growth during the fourth quarter 2007 versus fourth quarter 2006 reached 106%, and vendor growth totaled 331%.
Despite halving the product price at the beginning of 2007, revenues increased 16% with vendor revenues increasing 130%.
During 2007, AgencyLogic leveraged the experience of its parent company, Network Earth, Inc., a company that has been developing world class applications for publicly traded financial institutions for over twelve years. This has allowed AgencyLogic to build a scalable business and better position itself for continued growth.
With the continuing downward trend in the real estate industry caused by decreasing house prices, record foreclosures and the subprime mortgage crisis, Realtors are focusing on effective Web based marketing solutions that offer their listings increased exposure at a lower price. AgencyLogic expects this continuing market pressure to help drive growth throughout 2008 and into 2009.
“A reorganization of our sales focus at the beginning of January has paid dividends. Having decided to focus on our core competency, software development, we have repositioned AgencyLogic as a company that supports businesses who offer single property Websites rather than one competing against them,” said Stephen Fells, CEO of AgencyLogic. “This has resulted in strong growth in several key areas of our business, something we expect to continue throughout 2008.”
“Because PowerSites provide agents with an affordable way to get the most online exposure for listings, and can even be used free of charge to win listings, the downturn of the real estate market has actually strengthened our position,” said Mark Wayman, CIO of AgencyLogic. “Looking forward, we plan to leverage our assets and support our current customers and partners while developing additional relationships that will help others earn revenue through the PowerSite technology.”
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 $50 or less. 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., a technology company founded in 1995 that specializes in Web-based software development for businesses. Network Earth’s expertise includes application and Website development with the company recently moving into the social networking world with the formation of Social Gears, LLC. 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 http://powersiteblog.com or www.socialgears.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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