Industry News

CondoBuzz launches local ad delivery service for brokers

Ad network aims to help convert technology into profits

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel, a network of real estate Web sites focused on condominiums, on Monday launched a local ad delivery service for real estate brokers. "Our network of more than 3,000 real estate Web sites and domains enables us to develop and distribute our own local advertising program that benefits real estate brokers, agents, developers, vendors, buyers and sellers," said Randy Kempenich, president of Kemteck, which owns The company's president said the timing is right for local ad-supported Web sites, with local online advertising "exploding" across the Internet. Kempenich cited a report by Borrell and Associates predicting that local online advertising will increase by 39 percent in 2006. "More impressively, by 2009 online advertising expenditures will surpass newspapers," Kempenich said. "Ad revenues are becoming more lucrative every day and competition for locally targeted real estate advertising space is growing." He said real estate agents and others in the indust...