Product Overview of RealtyTrac
RealtyTrac is a comprehensive online marketplace and data resource specializing in foreclosure and distressed properties, catering to real estate investors, agents, and homebuyers. Here’s an overview of what the product does and its key features:
What RealtyTrac Does
RealtyTrac is the largest online database for foreclosure and distressed property information in the U.S., covering more than 90% of U.S. households. It provides a single-source platform for users to find, analyze, and invest in residential and commercial distressed properties, including foreclosed homes, pre-foreclosures, bank-owned properties (REOs), auctions, and short sales.
Key Features and Functionality
1. Extensive Property Listings
RealtyTrac offers over 1.5 million default, auction, and bank-owned listings from more than 2,200 U.S. counties. This includes detailed property information such as the number of bedrooms and bathrooms, square footage, lot size, year built, owner information, property debt, sales and tax history, and foreclosure status.
2. Advanced Search and Analysis Tools
Users can search properties based on various criteria including location, price range, property type, and foreclosure status. The platform also features a “Deal-o-Meter” rating system that estimates a property’s profit potential, using data from ATTOM and Zillow to rate the gross profitability as Poor, Good, or Great.
3. Market Trends and Analysis
RealtyTrac provides detailed market trends, analytics, and insights to help users make informed decisions about real estate investments and purchases. This includes a monthly U.S. Foreclosure Market Report, as well as quarterly and annual recaps of foreclosure trends.
4. Educational Resources
The platform offers a range of educational resources, including articles, guides, and tutorials, to help users understand the foreclosure process and real estate market dynamics. This is particularly useful for those new to investing in distressed properties.
5. Partnerships and Data Aggregation
RealtyTrac partners with the six largest online auction companies, such as Auction.com and Hubzu, to supplement its proprietary database. This partnership ensures users have access to the largest aggregation of online foreclosure auction properties.
6. Mobile App
RealtyTrac also offers a mobile app for Apple iPhone and iPad, allowing users to view detailed real estate information on the go. The app includes features like GPS-based property identification, interactive map searches, and the ability to save homes and set up alerts for status changes.
7. Subscription Services
Users can access premium data and reports through subscription services, which are available at a special introductory rate of $19.95 per month, down from the regular rate of $49.95. Subscriptions provide unlimited access to detailed property data, market analytics, and educational resources.
8. Agent Tools
RealtyTrac offers a suite of products designed for real estate agents, helping them connect with potential buyers and sellers, and navigate the foreclosure market more effectively.
In summary, RealtyTrac is a powerful tool for anyone involved in the real estate market, especially those interested in distressed properties. Its robust database, advanced search and analysis tools, and educational resources make it an indispensable resource for investors and real estate professionals.