Single Property Websites on the Rise

Many real estate agents are turning to single property websites in an attempt to give them the edge over competitors and make their properties stand out. And single property websites are definitely increasing in use and popularity according to figures released last week by one leading supplier.

AgencyLogic, a division of Network Earth, Inc., founded in 1995, is the largest real estate industry provider of single property Websites in North America.

Last week the company announced record growth of their PowerSite single property Website product for the fifth straight year. The company says that 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 first and second quarters of 2008 saw their results soar with more than 37% growth in gross revenue and a 58% growth in license sales versus the same period in 2007. However, the company says 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.

“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.”

AgencyLogic attribute some of the growth to a new office opening in California and an increase in development staff. The company’s software development process was reviewed, resulting in the creation of a shorter and more frequent release schedule. And from this year, the company expects to release new value based features bi-monthly, with several new products yet to be released, including some related to niche real estate markets and tying into social networking.

Whichever way you look at it, single property websites are increasing in popularity among agents, and certainly one more online marketing avenue that agents now have at their disposal.

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