Results fueled by increased emphasis on vendor programs and product improvement coupled with acquisitions and new market penetration.
Wappingers Falls, NY – January 23, 2008 — AgencyLogic (www.agencylogic.com), the largest real estate industry provider of single property Websites in North America, announced record growth of their PowerSite single property Website product for the fifth straight year. Despite a particularly difficult year for real estate in general, the number of new clients, Website license sales and gross revenue in 2008 all reached new highs.
The company saw particularly strong first and second quarter results with more than 37% growth in gross revenue and a 58% growth in license sales versus the same period in 2007. However, the most significant growth was seen through their Affiliate and Private Label vendor network. The programs collectively generated an annual increase of 80% in revenues and more than 88% in licenses sales versus vendor generated business in 2007.
Some of the growth is also attributed to a company restructuring that involved opening an office in Emeryville, California and an increase in development staff. Additionally, a review of the company’s software development process resulted in the creation of a shorter and therefore more frequent release schedule. Commencing in 2009, the company expects to release new value based features bi-monthly with the first happening as soon as January 2009.
“Given current market conditions we are obviously happy with the results but we’re especially pleased to see the growth via our vendor network as it again underscores that our decision to move away from direct sales was the right one,” said Stephen Fells, CEO of AgencyLogic. “We expect 2009 to continue in the same direction as we announce additional partnerships, release new but related products and continue to add to the base PowerSite feature set.”
“We have seen a sizeable market swing by Realtors away from traditional print and television outlets towards online advertising,” said Mark Wayman, CIO of AgencyLogic. “This has been led most recently by Century 21’s decision to move all of their 2009 television advertising budget to online sources. We expect to benefit from this paradigm shift by positioning single property Websites at the heart of marketing homes.”
The company plans on releasing several new products during the remainder of 2009 including Web based applications that will work closer with niche real estate markets. The products are being developed with a specific focus on leveraging the substantial increase in adoption of social networking.
About AgencyLogic Vendor Programs
As the popularity of single property Websites continues to grow, AgencyLogic has created two programs that allow individuals, brokers and large organizations to sell PowerSites through an Affiliate or Private Label Program. Included with both programs are various marketing tools, administration systems, pricing and commission flexibility, credit card processing, technical support, and a software platform that can be quickly and seamlessly integrated into existing offerings and infrastructure. AgencyLogic’s Vendor Programs can benefit any type of company looking to add a competitive service and additional revenue stream to their business.
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, or www.socialgears.com .
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