Point2 Technologies Inc., which offers online tools for real estate professionals, and media technology company Local Matters Inc. on Wednesday announced an agreement in operating Point2’s Facebook Neighborhoods application.
The application for Facebook, a social networking site with about 70 million active users, draws from Point2’s database of international neighborhoods. About 800,000 Facebook users have installed the application, to date. The application allows Facebook users to view who lives in their area and post or view information about local events or issues of interest. Real estate brokers and agents who use Point2 Agent Web site and property listing syndication tools can post property listings information for free on Facebook or choose to purchase enhanced property ads at the site.
Facebook is the sixth most-trafficked Web site on the planet, according to metrics company comScore, and over 20,000 applications have been built for the Facebook platform.
Point2’s neighborhoods database forms the foundation for the company’s real estate search portal, at Point2Homes.com.
"The deal incorporates a perpetual, revenue share and cooperation structure that enables both companies to capitalize on the application’s future growth," according to the announcement, and Point2 will continue to syndicate property listings information and enable advertising bookings by its members into Facebook Neighborhoods under the terms of the deal. Local Matters will handle ongoing development and marketing efforts for the application, the announcement states.
"We view this as a long term strategic partnership that leverages the synergies of two complementary organizations," said Perry Evans, founder and CEO for Local Matters, in a statement. "We’re excited to partner with Point2 to capitalize on a very unique opportunity to connect one of the world’s largest social networks to a range of community centered local content and services."
And Saul Klein, Point2 Technologies CEO, said in a statement, "With social networks redefining marketing, Local Matters’ deep knowledge and focus in local publishing and advertising will enable both our organizations to fully expand and capitalize on the application’s unique position on Facebook."
What’s your opinion? Leave your comments below or send a letter to the editor.