RealtyTrac signed a strategic alliance agreement with REALTrends to leverage both firms' extensive housing data resources and provide the latest market trends to the industry.
The enterprise calls for both companies to work jointly on various levels, ranging from conducting surveys to culling data from national real estate brokerages. In addition, the firms will use existing media relationships and contacts in a cooperative effort to create mutual reports on general housing trends.
"We are honored to be joining forces with REAL Trends, a longtime leader in providing news and information to real estate professionals for almost three decades," said RealtyTrac CEO Jamie Moyle.
He added, "Both companies bring tremendous credibility to this relationship, benefitting both organizations through the sharing of our extensive databases and media prowess to expand our reach both locally and globally."
Both firms believe they possess a high level of understanding when it comes to how brokers operate throughout the market.
"We are very excited to be working formally with RealtyTrac to develop new sources of key information and business opportunities for the brokerage industry and our clients," said Steve Murray, president of REAL Trends.
He concluded, "They are an unquestioned leader in providing reliable housing market information and we are proud to be associated with them."