Prudential Real Estate Launches Online Seller Advantage Program with Yahoo! Real Estate

For Immediate Release - June 24, 2006

Contact: Cindy Fraze
Title: VP of Corporate Services
Ph: (209) 758-3110
Fax: (209) 576-7364
E-mail: cfraze@prucalifornia.com

PRUDENTIAL REAL ESTATE LAUNCHES ONLINE SELLER ADVANTAGE PROGRAM
WITH YAHOO! REAL ESTATE

 

( MODESTO , California ) Prudential Real Estate Affiliates, Inc., a Prudential Financial company, recently launched a new proprietary tool, the Online Seller Advantage (OSA) program in cooperation with Yahoo! Real Estate.

Available only to Prudential Real Estate Sales Professionals, the tool allows for listing sales professionals to collaborate online with sellers, enabling sellers to automatically receive real-time updates on the status of their properties for sale and trends in their local marketplace.

"It's a consumer-driven marketplace, so Prudential Real Estate is doing our best to service the rapidly evolving needs of today's sophisticated consumer," said Earl Lee, president of Prudential Real Estate Affiliates, Inc. "Until now, the technology tools offered to sellers were limited to virtual tours and other visual online listing enhancements. Relaying quick, easy and accurate information to our home selling customers on the status of their homes and local neighborhoods will empower them further in negotiating the best selling price for their home."

Specifically, some of the new seller features included in the Online Seller Advantage tool include the following:

  • How often their property showed up on research results 
  •  How often their property was viewed in detailed format 
  • How many viewers have saved their property in their portfolio 
  •  New listings and photos in the seller's immediate neighborhood 
  •  Price changes of homes in the seller's immediate neighborhood  
  •  Status changes (i.e. sold, pending, removed from market, price reductions) of competitive properties in the seller's local area

In addition, a special Yahoo! sign rider can be attached to the featured property's yard sign with a unique "ID number." Buyers driving past the property who are interested in more detail can then input the ID number into Yahoo! Search and immediately view the details of the featured property - without having to search or to sort through search results. With this feature, prospective offline buyers can directly be connected to the detailed online information.

"This is a time when pricing a home right can really make a difference," said Aaron Lewis, a sales professional with Prudential California Realty in Turlock, Calif. "But sometimes, the sellers' perspective of their property's value is different from what the market will bear. The OSA emails they receive daily provide hard evidence to support my recommendations on staying competitive. The OSA keeps my sellers realistic, which helps me help them."

Many of the new seller features are possible because of the Prudential Real Estate Platform, the company's interactive Internet solution for its customers and sales professionals, which was first launched in 1999. With its exclusive relationship with Yahoo! Real Estate, Prudential provides a collaborative online medium where sales professionals can communicate with interested customers and guide them through their online homefinding process, equipping prospective buyers with information and updates that lead them to finding the right home. The Platform was designed for sales professionals to make connections and cultivate and maintain relationships regardless of how long it takes the prospective buyer to find the right home. Throughout this time, the customer has access to listings updated real-time online. Today, The Platform, through Prudential Real Estate's network of affiliates is active in 47 states and the District of Columbia , and has more than 2 million listings in all major cities. This online search history and activity accessible via the Prudential Real Estate Platform provides homesellers with access to information exclusively through the OSA program.  

 Prudential Real Estate Affiliates, Inc., consists of companies that are selected based upon outstanding performance records, high levels of customer service and shared business values. Upon joining Prudential Real Estate Affiliates, Inc., companies are provided with many benefits, including access to a free and private Website that links sales professionals to a 24/7 resource, and increased media exposure through an advertising campaign that encompasses some of America's most watched networks and print media. Prudential Real Estate Affiliates, Inc., is also the largest real estate advertiser in The Wall Street Journal.

Prudential Real Estate and Relocation Services is Prudential Financial's integrated real estate brokerage franchise and relocation services business. The real estate group markets franchises primarily to existing real estate companies. As of December 31, 2005, there were more than 2,000 franchise offices and over 64,000 sales professionals in the franchise network in the U.S. and Canada . All franchisees are independently owned and operated. Prudential Financial's real estate group began offering franchises in 1988 and is now one of the largest real estate brokerage franchise networks in North America .

Prudential Financial companies, with approximately $547 billion in total assets under management as of March 31, 2006, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America , one of the largest life insurance companies in the United States . These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises and relocation services. For more information, visit www.prucalifornia.com.

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Founded in 1965 as Stone Real Estate and transitioning to the Prudential name in 1989, Prudential California Realty (PCR) provides comprehensive real estate service when buying, selling and owning a home. The PCR family of companies includes Prudential Relocation (an independent organization that is part of Prudential Real Estate and Relocation Services), Guarantee Pacific Mortgage, LLC (an affiliate of Wells Fargo Home Mortgage, Inc.), Wolverine Property Management, Sylvan Transaction Services and Prudential Commercial Real Estate (an independently owned and operated member of Prudential Commercial Services). Prudential California Realty is an independently owned and operated member of the Prudential Real Estate Affiliates, Inc. To learn more, visit http://www.PruCalifornia.com/.