SOURCE: HouseValues

September 19, 2006 08:20 ET

More Than One in Five Mortgage Requests From HouseValues Sites Secure a Loan Within One Year, According to Real IQ

Independent Study Also Demonstrates Increased Success by Lenders and Brokers Who Follow Up and Proactively Manage Their Leads

LOS ANGELES, CA -- (MARKET WIRE) -- September 19, 2006 --Real IQ, an independent national market research firm, has found that 22 percent of consumers who submitted mortgage loan requests from HouseValues sites subsequently secured a mortgage within 12 months of their request.

HouseValues Inc. (NASDAQ: SOLD), based in Kirkland, Washington, is a leading marketing partner for real estate and mortgage professionals.

Real IQ's study also found that, of the leads from HouseValues sites that resulted in a mortgage transaction, 55 percent did so within the first three months after the lead was submitted, and 83 percent did so within six months.

"The mortgage marketplace is becoming increasingly competitive, especially when it comes to the online sector," said Stephen Bedikian, a partner at Real IQ. "While a lender or broker will typically experience a lead closing ratio in the mid-single digits, these findings demonstrate the huge potential for mortgage companies to greatly increase their businesses, turning a greater share of Internet leads into closed loans."

Real IQ's research study was conducted on a sample size of more 100,000 mortgage leads generated between June 2005 to February 2006. Real IQ compared the name and address provided by each consumer to mortgage lien information listed in available public county records. The study analyzed those leads with a complete address in areas serviced by HouseValues.

"These findings also demonstrate the importance of following up and working leads," said Ian Morris, chief executive officer for HouseValues. "In fact, lenders and brokers who put leads on the backburner after the first 30 days are missing out on a lot of potential business."

"Utilizing proven automated marketing strategies and systems such as those from HouseValues help to generate repeat and referral business from satisfied customers -- which is essential for competing in today's market," said Rick Robertson, a mortgage banker and broker with Choice Lending, Inc. in Bellevue, Washington.

About Real IQ

Real IQ has provided marketing analytics and consulting services to leading mortgage and real estate companies since 2001. The company's LeadMetrix™ service matches leads submitted by consumers to subsequent real estate and mortgage transactions recorded in public property records data. Real IQ clients use this information to improve their lead acquisition programs and track lead quality metrics on an ongoing basis.

About HouseValues Inc.

Founded in 1999, HouseValues Inc. (NASDAQ: SOLD) provides consumers and real estate professionals with the information and tools they need for success throughout the home buying and selling process. The company's flagship consumer products include HomePages.com™, a lifestyle and neighborhood-centric home buying and selling service; TheLoanPage.com, a service that provides current and prospective home owners with competitive mortgage and refinance quotes from leading lenders; HouseValues.com®, a service that provides home sellers with market valuations of their current home; and JustListed.com™, a service that alerts home buyers as soon as new homes hit the market that meet their criteria. Learn more at www.housevaluesinc.com.

SOLD: CORPORATE

Contact Information


  • PRESS CONTACT:
    Hugh Siler
    Siler & Company for HouseValues Inc
    (949) 646-6966
    hugh@silerpr.com