Terabitz Signs 6 Major Real Estate Brokerages in July

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RISMEDIA, July 15, 2008-Terabitz, a technology company that helps real estate brokerages engage online home buyers and sellers with innovative technologies, announced that six major real estate companies have licensed the Terabitz platform. Russ Lyon Sotheby’s International Realty (AZ), Century 21 Bowman (TX), Real Estate One (MI), Tomlinson Real Estate (ID), RE/MAX Commonwealth (NC) and Century 21 Money World (NV) will be implementing the technology in the coming weeks.

An increasing number of non-broker websites that offer real estate search targeted directly to home buyers and sellers are placing real estate brokers at the periphery of online real estate activities even though these sites are powered by their listings. According to the company, Terabitz provides the tools that let brokers build websites that rival the competition. Using Terabitz’s platform, the company says brokers can provide consumer users with better search capabilities and more information about local neighborhoods thereby driving more traffic to the broker’s website and generating more leads.

“We give brokers the tools they need to deliver an experience that’s comparable to the top-ranked online real estate sites,” said Terabitz CEO Ashfaq Munshi. “Our partners get everything they need in a flexible, scaleable and constantly evolving platform: Local data, a lead management system, an advanced IDX search solution - even an iPhone application. It’s all there.”

The Terabitz platform is component based so brokers can license just what they need from real estate search to lead management. Terabitz manages all MLS integration, design and business rules in a manner tailored to each company’s requirements. Terabitz also offers an agent website component that the brokerage can manage directly.

“Terabitz is light years ahead of our old system,” said John Vatistas, co-chairman of Russ Lyon Sotheby’s International. “The promises we make to our customers must be fulfilled at every touch point and Terabitz is going to help us make that happen online.”

“We continue to develop new real estate software and online innovative technologies to help our agents provide top quality service to buyers and sellers,” said Mike Bowman, President of CENTURY 21 Mike Bowman, Inc. “Our agents averaged 23 closed transactions each for 2007. The national average for agents is 8 closed transactions each. Terabitz will give us additional advantages and opportunities to be the top online real estate destination for buyers and sellers in Texas.”

The Terabitz platform has been adopted by leading real estate brokerages around the country, including Intero Real Estate Services, (http://interorealestate.com), and Metrobrokers (http://.metrobrokers.com) both of whom ended long-term contracts with previous vendors to contract with Terabitz.

“We were concerned about adding additional search/IDX capacity to our current technology. said Dan Elsea of Real Estate One, an independent brokerage in Michigan. “but the platform was very flexible and richer than others we had looked at and the price was right so it was an easy decision to make.”

“We believe in the singular ability of the local brokerage company to connect with consumers — the expertise, brand power, and personal service they deliver can never be matched,” said Terabitz’ Munshi. “We’re committed to giving them the tools they need to leverage that capacity online.”

For more information, visit www.terabitz.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

For more real estate tips and topics, see:

• Succeeding in the Role of a Company Visionary  
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