Using Text Messaging to Receive New Listings

Homebuyers no longer have to search the Internet for new foreclosure listings.

A real estate company in Los Angeles is using text-messaging software to communicate with prospective buyers and push new foreclosure listings to their mobile phones.

LAForeclosureFinders.com, which focuses on San Fernando Valley foreclosures and short sales, has partnered with iVisionMobile.com to implement a comprehensive mobile strategy that focuses on personalized text-messaging communications with homebuyers.

With the new real-time text message alerts, the company will be able to notify consumers as soon as new listings hit the market.

The real estate group uses a combination of mobile marketing tools to engage in more personalized interaction with potential buyers on their mobile devices, says John Gallagher, CEO of Gallagher Real Estate Group, the company that manages the LAForeclosureFinders.com website. These tools include an opt-in registration form on the LAForeclosureFinders.com website that allows visitors to opt-in and receive text message alerts with specific city and price range categories. The text message alerts are created and managed through iVision Mobile's iMessenger text messaging software and features personalized messages to buyers with new listing information in real time.

LAForeclosureFinders.com staff also use the iTRS Text Reminder System to notify prospective buyers of upcoming open houses and engage in real-time two-way communication with buyers on their cell phones.

Good news is also available to prospective purchasers of REO properties these days. Attracting qualified buyers to the market and reducing the inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover.

When it comes to purchasing a Fannie Mae-owned HomePath property, buyers will receive up to 3.5% in closing cost assistance or an equivalent amount in their choice of appliances.

The offer is available to any owner-occupant who closes on the purchase of a property listed on HomePath.com before May 1, 2010.

“Many families are taking advantage of the federal homebuyer tax credit to buy a new home so this is a great time for Fannie Mae to offer some additional help,” said Terry Edwards, executive vice president of Credit Portfolio Management.

Homebuyers have the option to choose between financial assistance toward closing costs or new appliances for their home.Properties eligible for this incentive are listed on HomePath.com and most listings include detailed property descriptions, photographs, community and school information and more.

In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing which offers homebuyers an opportunity to purchase with as little as 3% down.