Realbiz Media Ties Up with Realogy Firms, Expects Revenues to Reach $1 M
Realbiz Media Group, Inc. (OTCQB: RBIZ) has announced it has tied up with two real estate companies operating under real estate franchising firm Realogy Holdings Corp. (NYSE: RLGY), that would allow it to generate over $1 million in revenues within two years, according to a company statement Thursday.
Realogy Holdings Corp. is the parent company of the biggest names in real estate including ERA, Coldwell Banker, Century 21, and Sotheby's International Realty. The company was reported to own around 13,500 offices with 251,000 sales representatives in 104 countries globally.
Under the agreements, Realbiz Media will cater its video marketing services and products to the Realogy companies.
Full terms of the contracts were not disclosed by the company but it noted a few highlights of the tie-up in the statement which include: The use of Realbiz’s technology by the brokerage firms to produce nearly one million videos annually, the upsampling 2.5million images monthly, and the creation of around 75,000 listing video microsites a month.
Realbiz Media will also be providing the two Realogy-controlled firms agent support and access to service upgrades.
The statement said that Realbiz Media’s patented “shoot-and-stitch” technology, which is the foundation of the company’s virtual tour software, was initially used in Kodak and Pentax digital cameras.
The company’s mission is to empower agents with the right video marketing tools as homebuyer’s online shopping habits evolve. The company manages to achieve this through its roster of disruptive video technologies such as video content management system Microvideo App, its website-based marketing tool NestBuilder Agent, and its mobile video app called EzFlix.
The Microvideo App is a platform targeted at brokerage firms allowing brokers and their agents to collaborate in creating listing video microsites and executing marketing campaigns.
Nestbuilder Agent is a tool that is accessible through listing site Nestbuilder.com and allows agents to create professional agent profiles and virtual tours out of listing photos. These tours can be shared automatically to the agent’s network through social media platforms and email.
EzFlix is a smartphone app that allows agents to create, edit, and share their property videos through their tablets or mobile phones. It appears like a social network and is easy to use with drag and drop functionalities, and a timeline that keep all agents’ listing photos and videos in one place.
“It is gratifying to see our services being adopted by key players in the real estate industry,” said Realbiz Media CEO William Kerby.
“Our efforts over the past 18 months have been directed towards developing and integrating video with social media to allow agents a better way to attract and service their customers. While the complete integration of products will occur later this quarter, we have advanced to the point where we're delivering real estate agents and brokers true online marketing success,” he said in the statement.
Realogy’s shares closed at $40.83, down by 0.95 percent from the previous trading day. Bidness.com reports that the company’s total home sales were up 3 percent due to soaring home prices.
Realbiz Media’s stocks, meanwhile, closed at $0.14. Its stocks trade at an average volume of 56,298 a month, and have traded at a price between $0.11 and $4.65 during the past 52 weeks.
For more information on Realbiz Media, contact email@example.com or call 1.888.REAL.BIZ (888.732.5249).
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.