Foreclosure data aggregator RealtyTrac has signed up one of the largest independent brokerages in the country, Bob Parks Realty, to its brokerage network.
Brentwood, Tenn.-based Bob Parks Realty has 10 offices and more than 450 agents. By transaction sides, the brokerage is the second largest in the Nashville area, the 44th largest independent brokerage in the country, and the 94th largest brokerage overall in the U.S., according to Real Trends. The firm completed 4,691 transaction sides in 2012 involving homes valued at $1.18 billion.
Irvine, Calif.-based RealtyTrac launched the RealtyTrac Network in February with charter members Prudential California Realty and Chase International. The company awards “licenses” in the network to franchised and independent brokerage companies on an exclusive basis in each market.
Firms in the network receive exclusive leads, media exposure, loan information, property details and demographic data in exchange for local “tribal” knowledge RealtyTrac will use to help pinpoint housing trends.
“We are excited about this partnership and the opportunity to share market knowledge through RealtyTrac’s wide network of relationships,” said Bob Parks, owner and CEO of Bob Parks Realty, in a statement.
“We feel this collaboration only strengthens both of our positions in the market. Integrating local and national statistics gives a strong view of how economic decisions and trends affect communities.”
Last week, RealtyTrac and communications and consulting company Real Trends announced they had signed a strategic alliance agreement to offer housing market trends, statistics and analytics to the media.
RealtyTrac recently launched a new screening tool, Seller LeadTrac, to help agents and brokers in the RealtyTrac Network identify homeowners who might be willing to put their properties up for sale. Last month, the company said it had already used Seller LeadTrac to identify more than 800,000 properties that are likely to come on the market.
Two Oklahoma brokerages, Prudential Alliance Realty and Prudential Detrick Realty, joined RealtyTrac’s brokerage network in June.
Editor’s note: This story has been corrected to remove a characterization of the RealtyTrac Network as a “referral network.”