SOURCE: Pinxter

Pinxter

November 12, 2014 10:02 ET

More Referral Fees for the Piggybank With "Piggy," a New Mobile Real Estate App for Realtors and Their Home Buying and Selling Clients

Newest App From Pinxter Inc. Now Available for Free Download on iTunes

WASHINGTON, DC--(Marketwired - Nov 12, 2014) - Pinxter Inc., the Alexandria, Virginia-based tech company known for its social media, interactive iTunes apps, has just released its newest application, now available on the Apple App Store. Piggy is a specialized app developed especially for the real estate industry -- primarily real estate agents and their clients -- to streamline and better organize the now-cumbersome realtor referral process. The Piggy App allows realtors to create, manage and receive quality referrals while potentially earning more referral fees; and offers home buyers an easy way to refer friends, family and colleagues to their favorite agent as well as stay connected to their own preferred realtor to serve as their referral agent to ensure long-distance deals go well.

Pinxter Inc. who has used its innovative single platform in instant feedback, mass-public brand apps as WedStyle, Choicy, and its namesake, Pinxter, the social fashion app. Pinxter, due to its advances in the modern social networking, was approached by a seasoned real estate agent fed up by the broken referral system and determined to fix it.

"After listening to their frustrations and the challenges they see facing their industry in regards to the disjointed process, we knew we could offer a workable mobile solution," explains Pinxter CEO and co-Founder Sergei Dubograev. "By streamlining the referral process with technology and offering useful options, Piggy helps both realtors and clients in just a few screen taps. Recognizing that some 80 to 90 percent of a realtor's business can come from former clients, friends and family, each year, optimizing the referral process with our scalable, single platform seemed like winning combination."

"The Piggy App quickly solves critical problems permeating the current referral process that has not been addressed by the market," explains Piggy Founder Gordon Wood, a licensed REALTOR® with the Northern Virginia-based McEnearney Associates, Inc. Wood, who throughout his 28-year career had been frustrated that his clients, family and friends either didn't know they could send him long-distance referrals, how they would go about it, or simply forgotten they could, wanted to finally fix the situation. He met with the team from Pinxter and together Piggy was born.

"With Piggy, agents can easily connect with their best clients, make referrals locally or across the country, and create new revenue streams. Piggy's goal is to never let you lose out on potential quality outbound referrals and to receive commissions on your own quality inbound referrals," said Wood.

"The app was designed for ease of use," explains Dubograev. "Now an agent's best clients can download the app and simply choose them as their preferred realtor. The green Piggy icon serves as a constant reminder that you're available for all real estate deals regardless of where the deal is. In addition to getting referrals, you can manage and extend your realtor network in one place; send referrals to other realtors and stay involved in those deals; create new contacts across the country; and help manage payments realtor-to-realtor with Piggy through bank and wire transfers, ACH, or debit and credit cards. Because Piggy or the preferred realtor can make the introductions on the client's behalf, uncomfortable conversations about fees are a thing of the past."

"It's true, a core benefit of the app is that Piggy makes the introductions for you," explains Wood. "Even for my clients that did know I could be involved as the referral agent in a long-distance transaction, they would most likely not feel comfortable about discussing it with the other agent. It's one thing to call a realtor and say, 'We would like you to help Mom sell her house,' but it's quite another to ask the agent if they will pay a realtor a referral fee or to discuss how much that fee would be."

Wood explains that because the introduction and the referral fee arrangement is disclosed upfront on the Piggy's screen, the local agent has all of the incentives to accept the terms for a quality referral deal and agree to pay the referral fee. "Once the introduction is made, this once-elusive referral is now locked in," he explains.

According to Wood, realtors are "always" willing to pay a referral fee for a quality referral. Currently, referral fees are paid out on as few as 4% of the real estate deals nationwide. "Every realtor has multiple examples when their great client calls to pick their brain on a real estate happening somewhere else. I have always been willing to chat with anyone about real estate. With Piggy though, I have a much better chance to be the referring agent while strengthening the deal for all parties. It's truly a win-win-win solution -- both realtors are happy, as is the client," says Wood.

The Piggy App is simple to use, and once real estate agents and/or clients have downloaded the app and are registered, they can get started in just five simple steps:

1. For clients: connect with your preferred realtor at the bottom of your profile screen or use "Connect with Realtors" in the menu. For realtors: connect with your most trusted and best referral network so not only can you send outbound referrals but also receive inbound referrals.
2. Complete your profile so that others can find you easily on Piggy.
3. Turn on push notifications to be notified of new referrals, status changes and other pertinent information.
4. Manage all of your referrals in the menu tabs "inbound" and "outbound" referrals.
5. Pay directly through the app for closed deals and begin building your trusted network.

According to Wood, Piggy may become a career call for those who would obtain a real estate license to earn referral fees as a referral agent. "What's great about Piggy is it will not only jump start a brand new agent's career by immediately and efficiently utilizing the new agent's friends and family network, but it also gives a struggling realtor a reason and additional incentive to keep his or her license supplementing its revenues with the referrals fees. It's also a nice perk for real estate companies giving them a chance to secure more licensees."

Dubograev and Wood agree: "Piggy was a real estate referral app waiting to happen, and because it works for all parties involved, it's a very good thing." An added benefit and possibly the greatest byproduct is Piggy will organically build out a worldwide network of realtors built on trust. "When my best clients, friends and family connect on Piggy," says Wood, "they can suggest realtors worldwide they may know and trust. Gradually and powerfully, these smaller 'trust' networks will create a national and international realtor network, we can all count on."

Piggy from Pinxter, Inc. is now available for free at the Apple App Store and on iTunes.

About Pinxter Inc.

Based in Alexandria, VA, Pinxter Inc. is a social interactive app platform company known for its iPhone apps enabling brands to connect easily and efficiently with consumers. Pinxter's apps give real-time feedback, viral social features and crowd-sourcing market response that inspire users to drive decisive action. For additional information, please find us on Facebook, or visit http://www.pinxter.me.

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