Webdigs (WBDG) Acquires Assets of Iggys House and BuySide Realty. (PR Newswire)
Tue, 16 Jun 2009 12:00:00 Etc/GM
MINNEAPOLIS, June 16 /PRNewswire-FirstCall/ -- "The acquisition of virtually all the assets of Iggys House and BuySide Realty is a significant milestone for Webdigs. The combined technology of Webdigs.com, BuySide and Iggys House will allow us to create the complete package which we had envisioned from our inception. When we have integrated all of these technologies and processes, we believe that Webdigs.com will be one of the most robust and user-friendly real estate brokerage websites available. In addition, this allows the further streamlining of the real estate transaction process which we had planned to build out over time," said Rob Buntz, Chairman and CEO.
"I am very excited about the coming together of the Iggys House technology and the operational expertise and vision of Webdigs. More than $3 million was invested in this proprietary technology that benefited thousands of home buyers and sellers across the country. These consumers saved millions of dollars and listed nearly $2 billion worth of homes on the MLS and Iggys House," said Joe Fox who, along with his brother Avi, founded Iggys House and BuySide Realty.
Offering full service real estate brokerage as well as vertically integrating mortgage, insurance and title, allows Webdigs to serve their customers in the ways they want to be served. According to a National Association of Realtors (NAR) study, 72 % of home buyers and home sellers want "one-stop shopping" in their transaction process. As with so many other purchases, consumers also want to be able to do everything in their own time. To this end, Webdigs will soon add an online mortgage application process to its website. According to independent research, more than 70% of online applications are originated between 7PM and 11PM. This corresponds with home buying searches online which spike during those hours as well as 11AM-1PM.
Joshua Katz, formerly head of brokerage for Iggys House and BuySide Realty, has joined Webdigs and will head up real estate brokerage operations in the US. Mr. Katz is licensed in Florida, South Carolina, Virginia, Maryland and Texas. This will provide Webdigs access to those markets as well as Minnesota, Wisconsin and Colorado. The company expects to add more states to its operations in the near future. "I am thrilled to join the Webdigs team and to be a part of this venture. We were high tech and moving toward high touch at Iggys House and BuySide Realty. Today's customer wants both high tech and high touch. Webdigs accomplishes that and is now adding new dimensions to its offerings. As we evolve, we will continue to be guided by the needs and desires of our consumers."
"Even through some of the roughest periods for real estate, Webdigs has done a fantastic job streamlining operations and bringing incredible value to its customers. I look forward to bringing my industry expertise to the Webdigs Board of Directors. The quality of the entire Board speaks volumes about this company," added Mr. Fox.
"We had our best month ever in May and June looks even better. Although home values are down to 2004 levels, people are still buying and selling homes. Our focus on customer service, user-friendly technology and pricing which includes significant savings for our home sellers and 50% rebates to our home buyers has positioned Webdigs well in this market and beyond. Our thanks to all who made this transaction possible," said Edward Wicker, CFO of Webdigs (OTC Bulletin Board: WBDG - News).
source: http://biz.yahoo.com/prnews/090616/aq33183.html?.v=1