(Source: Herald Net)
“I found it to be a very difficult process with no MLS or shared information between agencies,” said Case, who holds an undergraduate degree in economics and an master’s in business administration from Stanford’s Graduate School of Business “There were serious market inefficiencies and no system that combined inventory and networking for agents.”
The national Realtors group, the largest trade association in the United States, is a member of the International Consortium of Real Estate, which has a business-to-consumer Web site (www.worldproperties.com) but no common place where agents could share listings, interests and forms in different languages.
Believing she could add a service that would benefit professionals and consumers, Case founded Palo Alto-based Proxio, a borderless real estate market to give agents the ability to market themselves and their listings globally. It launched in Europe in 2007 and in the U.S. last year. It now has a presence in 65 countries, with an inventory of approximately 110,000 listings worth greater than $55 billion. Its services are in 11 different languages to support its network of more than 4,400 participating agencies and 24,000 agents.
The company makes its money by charging for subscriptions, typically to individual agents, wholesale to groups such as the multiple listing service, Realtor associations and media companies.
Read Tom Kelly’s full article “Global listings fill a void for real estate agents” in Herald Net (July 12, 2009).