Industry News

Real estate site offers to connect buyers, service providers sells leads to Realtors, mortgage lenders

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A real estate Web site called offers to link home buyers to Realtors, lenders, contractors, and moving and storage companies. Consumers who fill out an application at the site will receive calls from up to four local Realtors and mortgage lenders, according to a company announcement. "Home buyers are then able to consider their options and negotiate directly with agents and lenders," the announcement states. Real estate companies and mortgage firms pay the site for leads received. "Visiting our site is really a risk-free proposition for home buyers -- we don't ask for any sensitive personal information, and they can walk away from the process at any time," said Mehran Tabatabayee, CEO of for Myhomething LLC. "We give all them all the details they need to contact and pitch people who are very warm leads -- in other words, people actively looking for a new house," Tabatabayee stated. The site contacts agents and lenders paying for leads to verify their service offering...