Updated Realtor.com app: search for REOs, price-reduced homes

'HyperSocial' agent search tool slated for Q2 release

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Realtor.com has updated its app for Apple mobile devices to allow users in some markets to search for recently sold homes and listings with price reductions, and to identify listings that have been through the foreclosure process.

Realtor.com operator Move Inc. said it plans to launch a new "HyperSocial" agent search tool to connect consumers with participating agents based on shared connections during the second quarter of 2012.

The latest Realtor.com iOS real estate search app is compatible with iPad, iPhone and iPod touch devices running iOS 4.0 or higher.

In markets where multiple listing services are providing such data to Realtor.com, the app shows recently sold listings and recent price reductions.

"Not all, but a significant number of markets and listings are covered," a Realtor.com spokeswoman told Inman News. All information that displays in the app is directly from Realtor.com, and is accessible from both desktop computers and mobile devices.

Recently sold listings — properties that sold within the last six months — include the sale date and final sale price reported by the MLS. Users can search for sold listings or watch as they surface automatically when zooming into a specific area.

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Properties with price reductions are identified with a green arrow, and iOS app users can conduct price-reduced-only searches.

Realtor.com has also begun identifying for-sale listings that have completed the foreclosure process, through agreements with a variety of data providers including banks.

Homes that are still in the foreclosure process or that have been repossessed by lenders are not displayed on Realtor.com unless they have been advertised for sale in a multiple listing service.

Users who search for "foreclosed" properties will see homes that have been repossessed by banks (often referred to as real estate owned or "REO" properties), for example, but only those that have been listed for sale in an MLS. The iOS app also displays a distinctive badge for short-sale properties, but users cannot specifically search for short-sale properties.

Listing portals that partner with RealtyTrac or other aggregators of public records often display information about "distressed properties" that are in some stage of the foreclosure process, but which may or may not be for sale.


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