Industry NewsTechnology

Foreclosure widget connects agents with bargain hunters

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Data aggregator ForeclosureRadar on Tuesday made available a widget that allows real estate brokers and agents to provide information on foreclosed and bank-owned properties through their Web sites -- and keep the leads the search tool generates for themselves. The search tool is currently available only for California, where ForeclosureRadar collects information on foreclosed properties. But the company expects to roll out its Foreclosure Listing Exchange (FLX) platform in other markets by the end of the year. Unlike foreclosure sites aimed directly at bargain-hunting consumers, ForeclosureRadar has positioned its FLX platform as a tool for consumers to use in conjunction with a real estate agent or broker, rather than on their own. "The big issue that we see is the buyers in the market right now want a bargain on a property, and they believe that foreclosures are bargains," said ForeclosureRadar's founder and president, Sean O'Toole. "But they don't th...