SOURCE: Midwest Real Estate Data

Midwest Real Estate Data

October 05, 2011 10:57 ET

Midwest Real Estate Data Experiences Impressive Adoption of Down Payment Assistance Program

Realtor® Customers of MRED Now Using New Tool to Assist Customers and Increase Their Business

LISLE, IL--(Marketwire - Oct 5, 2011) - Midwest Real Estate Data LLC (MRED) and Atlanta-based Workforce Resource® announced impressive results and strong customer use following last week's launch of Down Payment Resource(SM)(DPR) to MRED's nearly 40,000 customers.

DPR is a web-based tool that connects eligible homebuyers and eligible properties with government-funded programs for down payment assistance, affordable mortgages and rehab loans. DPR links with MRED's vast database of active listing data, expanding the awareness and reach of local down payment assistance programs available to homebuyers throughout Chicagoland and the surrounding county areas.

Since going live to MRED's brokers and agents on September 30th, there have been nearly 8,000 visits to DPR directly from property listings. Consumers receiving listing information from their Realtor® have clicked the DPR icon almost 5,000 times. In addition, feedback via MRED's Help Desk has been extremely positive. Realtors® are expressing appreciation for access to a tool that allows buyers to navigate and identify down payment programs while also pleasing sellers by creating more prospects who may qualify to buy their home.

"We could not be happier with the reception DPR has gotten from our customers," said MRED CEO Russ Bergeron. "This is another Public Service App from MRED that benefits our brokers, agents and the consumer. Everyone benefits from the extensive use of this groundbreaking tool."

With hundreds of millions of dollars in down payment assistance programs available throughout the country, it is challenging for housing industry participants and homebuyers to be aware of or even understand the requirements and benefits of multiple programs within each market. Down Payment Resource uses today's technology to simplify that process for everyone involved.

"We knew there would be a significant increase in usage and attention to DPR because of MRED's large size," said Rob Chrane, founder and president of Workforce Resource. "However, we are even more encouraged by the tremendous volume of hits and page views since the launch."

"Our next step will be to deliver DPR to agent and broker web sites," added Bergeron. "Our goal is to make DPR available to as many potential homebuyers as possible so that they can pursue the American dream of home ownership."

About Midwest Real Estate Data:

Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the largest multiple listing service by listing volume to almost 8,000 real estate offices and nearly 40,000 customers, including brokers, agents and appraisers. MRED has expanded well into the "collar" counties surrounding Chicagoland, and its property information encompasses northern Illinois, southern Wisconsin and northwest Indiana.

About Workforce Resource:

Founded in 2008, Workforce Resource® is a web-based software company with a mission to connect people with hard-to-find financial resources for better living. In 2010, the company launched Down Payment Resource to help turn potential home buyers into qualified buyers by connecting them to down payment assistance funding that they may not have otherwise known existed. DPR, winner of the 2011 Inman News Innovator "Most Innovative New Technology" award, is made available through Multiple Listing Services and is available in markets including, Minneapolis; western Wisconsin; suburban New York; central Florida; northern Illinois; southern Wisconsin; and Tucson, Arizona, with contracts to expand in areas such as Reno, Nevada; western North Carolina; and northern New England. The product's assistance program information is expanding rapidly for nationwide coverage.

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Contact Information

  • Media Contacts:
    Jeff Lasky
    MRED Director of Communications and Training
    Email Contact

    Tracey Shell
    Workforce Resource
    Email Contact