LPS Real Estate Group Powers Consumer-Facing Website for the Real Estate Board of New York
JACKSONVILLE, Fla. — July 18, 2011 – LPS Real Estate Group, a division of Lender Processing Services (LPS), announced today that its MLS Portal was chosen by the Real Estate Board of New York (REBNY) to serve as the platform for its newly launched consumer-facing website, NY1Residential.com, a re-launch of REBNY’s existing New York City real estate listing website.
LPS Real Estate Group’s MLS Portal provides multiple listing services with a branded website that offers consumers direct access to comprehensive property listing content. This site includes an aerial-view map-searching feature with rooftop accuracy and parcel-line overlays. Additionally, search functions are tailored to regional and market specifications. The portal also enhances the listing information to include points of interest, school and neighborhood data, driving directions to each property and more. With the click of a button, viewers can generate real-time reports and snapshots of the real estate market in a selected area to analyze buying trends and compare property values.
“The goal is to provide a regional channel to drive more consumer traffic to our REBNY brokers and agents, while making it easy for the public to find a home in New York City,” said Steven Spinola, president of the Real Estate Board of New York. “REBNY carefully chose LPS Real Estate Group for this important member benefit and consumer service.”
“These consumer portals do not compete with REBNY’S members’ websites, but ensure that consumer traffic is sent back to the brokers and agents,” said John Hensley, chief product officer, LPS Real Estate Group. “Statistics show that consumers who are allowed independent access to listings are better informed and more faithful to the real estate professional who helps them with their sale or purchase.”
More than 90 percent of consumers use the Internet as the first step in their real estate purchase. LPS’ MLS Portal provides that intermediate level between the national websites, where many consumers start their search, and the individual agent website, where consumers work one-on-one with an agent in their home-buying process.
“Surveys have shown that consumer-facing MLS websites gain increasingly higher search result placement than individual broker agent websites,” added Hensley.
Search for a home in New York City by visiting www.NY1Residential.com.
About Lender Processing Services
Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (LPS Desktop®) portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS’ Mortgage Servicing Package (MSP). LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, please visit www.lpsvcs.com.
About LPS Real Estate Group
The LPS Real Estate Group has relationships with more than 300 MLS organizations, 250 broker companies, settlement services companies, and more than 350,000 real estate professionals. The technology applications include innovative tools such as Paragon™; the reInsight® collection; reDataVault™; rDesk® Broker & Agent Suite of products; TransactionPoint®; DocCentral; the Real Estate & Living Media Network that generates revenue for its publishers; as well as a robust real estate property and tax database that includes 400 million residential and commercial property, ownership, sales, assessment and mortgage records. This represents detailed information on at least 92 percent of U.S. property ownership records in more than 2,000 counties with over 675,000 new ownership records added monthly. For more information, please visit www.lpsreg.com.
About the Real Estate Board of New York (REBNY)
The Real Estate Board of New York is NYC’s leading real estate trade association with more than 12,000 members consisting of owners, builders, brokers, managers, banks, insurance companies, pension funds, real estate investment trusts, utilities, attorneys, architects, marketing professionals and many other individuals and institutions involved in New York realty. REBNY launched its public real estate listings website ResidentialNYC.com in 2007 and decided to re-launch the site with partner NY1 News in 2011 and call it NY1Residential.com. For more information, visit www.rebny.com.
LPS Real Estate Group:
Laura Buser, 949.681.4852
Christi Mueller, 212.889.0808
LPS Investor Relations:
Parag Bhansali, 904.854.8640