Real Estate

Property foreclosure website RealtyTrac prepares for growth with rehire of Rick Sharga

Company is eyeing other areas of real estate investment beyond foreclosures

ATTOM Data Solutions’ RealtyTrac, a foreclosure listings and search portal, added industry veteran Rick Sharga back into its ranks earlier this month in a move that foreshadows what the company sees for its future. Sharga will oversee RealtyTrac’s marketing and public relations initiatives and implement new marketing strategies to increase brand awareness.

After foreclosures declined to record lows in recent years, ReatyTrac sees the potential for increased foreclosure activity due to the pandemic. Sharga isn’t new to the company, having laid the foundation for its internal and external communications program for eight years in the early 2000s. But the announcement of his return is a true sign of the times.

“[Sharga] now returns at a pivotal moment, as RealtyTrac once again positions itself as the premier foreclosure listings and search portal,” the company said in its release. “In this role, Sharga will be responsible for developing and executing a strategic marketing plan to optimize growth and drive business development.”

In the release, RealtyTrac General Manager Ohan Antebian also talked about ATTOM’s vote of confidence and strategic decision to re-invest in the foreclosure site, saying it will solidify awareness of the organization and its near-term modernization.

An on the website itself, RealtyTrac points to the possible uptick on the horizon for foreclosures.

“While currently the majority of banks are providing deferments for homeowners, many forecast that we will see a rise in the number of foreclosures when these provisions expire,” the company states. “As a result, now is the right time to keep an eye on the foreclosure and real estate market trends.”

With Sharga at the helm, RealtyTrac is also exploring other areas where it could branch out, even other areas of real estate investment including some small multifamily properties.

“There are other types of properties besides foreclosures that represent good investments, whether those are properties that are currently listed on the MLS or it’s digging into public record data to take a look at properties that might represent an untapped investment opportunity,” Sharga said in an interview with HousingWire.

“Maybe even including sort of the low-dollar commercial assets that most of the commercial websites kind of ignored because everybody wants the $20 million office building, but not necessarily that gas station in Akron, Ohio.”

“We’re still formulating those plans,” Sharga continued. “But the reality is that the majority of investments that people make in real estate are not foreclosures. And I think we have an opportunity because of the wealth of data that our parent company, ATTOM Data has, to be able to put together a really comprehensive web platform that lets investors find those bigger deals.”

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