RealUp, a new commercial real estate listing service, is offering free memberships, unlimited free searching, free recent sales comparables, free lending quotes, free professional profiles and interactive listings. For its listings, the company uses a Pay-Per-Results pricing model based on pay-per-inquiry.
RealUp is launching its beta site at RECon, the global convention sponsored by the International Council of Shopping Centers (ICSC) in Las Vegas, Nevada on May 17th, 2009. Interested owners, brokers or investors who create their free membership during this initial beta period will receive three months of free listings as well as full-access to all of the features on RealUp.com, no strings attached.
Free until you know you like it? That sounds fair to me.
"Our goal is to be the number one information and marketing website in the commercial real estate industry.” said Michelle Heaton, Vice President of Sales and Marketing. “By launching at the RECon, we will be able introduce our services and get feedback from a large audience of our customers at one time.”
One of the most intriguing values to potential clients RealUp is free access to recent sales comparables. For transaction data, RealUp has signed a multiyear agreement with MDA DataQuick, one of the top real estate data providers in the country. Comps are to be updated continually to provide up-to-date and accurate comparables. Memberships to RealUp are free, so there is no cost associated with accessing the data.
Unlike most other commercial real estate listing sites, all of RealUp's interactive listings are free to search with no registration required. As RealUp launch partners, TCN Worldwide, Massey Knakal, Hart Corporation and Chicago Broker are among the top commercial real estate firms that have that are already listing with RealUp. Each listing can contain unlimited photos, detailed descriptions, attachments, demographics, mapping, favorites, embeddable links, email options and more. Members can quickly and easily update and enhance their listings at any time for no additional cost.
A Pay-Per-Results pricing model, very similar to Google Adwords, allows RealUp members to list all of their properties and only pay for results. Members can set their own budgets with no minimums and essentially pay what they want to list properties on the site. A minimal charge, det ermined by the listing member, only occurs when a user actually clicks on and views the listing, not every time the listing is displayed. If a listing is not being viewed, there is no charge.
“Our objective is to become the premier listing site for all types of commercial real estate. To that end, our strategy is to reach critical mass at lightning speed.” said Ms.Heaton. “Commercial Realtors will appreciate our service and pricing model once they’ve had the opportunity to experience RealUp.”
Users can also take advantage of up-to-date financial information including current interest rates, treasury yields. Mortgage calculators will also be furnished on the site. Users can fill out the lending quote form and submit the details of a particular property to receive free financing quotes. RealUp's exclusive lending partner, Capital Development, LLC, will respond with a financing quote or loan pre-approval as well as expert recommendations within two business days.
By Steve Hirsch
Landlord Reference Guide