Shares of Vancouver's RESAAS Services (CNSX:RSS) surged Thursday, as investors cheered the company's continued growth of its social network for real estate professionals, after it announced it has signed California-based real estate firm, Intero Real Estate Services.
Intero operates in Arbuckle and Yuba City with a coverage area including Butte, Colusa, Sutter, Yuba and Yolo Counties. As the top-selling real estate company in Silicon Valley, Intero has 2,000 agents in 60 offices worldwide.
"The RESAAS platform and mobile apps branded as our own Intero Network will empower our agents to procure more business through social networking and it will enable and promote enhanced interoffice communication," said Donna Phelan, owner of Intero’s office in Arbuckle. "Most importantly, this network will prove to be a valuable resource for our customers and clients by providing time sensitive information and expanded property details."
RESAAS Services is a social network for real estate professionals, mortgage specialists, home buyers and sellers. The network is designed to allow real-time updating of property listings as well as the ability to sync with social media sites such as Facebook (NASDAQ:FB) and Twitter.
"Donna is a leading businesswoman in the Northern California region who is dedicated to both her clients and her real estate team," said VP of sales Padraig Cullen in a statement late Wednesday.
"Additionally, she is a marketing expert who is consistently looking for products to enhance her business and empower her agents. Donna understands the relationship between real estate and social networking and that effective social networking will enable the Intero Real Estate Services agents in Arbuckle and Yuba City to procure more business.”
Earlier this week, RESAAS signed on Welcome Home Nevada Realty, which serves North Las Vegas, Las Vegas, Henderson, Green Valley, Silverado Ranch, Anthem, McDonald Ranch, Southern Highlands and many other regions.
The real estate social network has so far made significant headway on the West Coast, last week signing Southern California-based real estate firm Modern Realty, which came just a few days after the signing of the region's Vernazza Realty.
Earlier in March, the company started to add real estate agencies in the East, taking on Montreal-based real estate firm Profusion Realty, which is known for its work in the high-end real estate market in the Greater Montreal Area.
That followed on the heels of a busy February for RESAAS, when it brought on Southern California-based real estate firm Parker Properties, Royal LePage Kelowna and California's Century 21 Adobe Realty.
It has also brought on real estate agency OC Homes Realty from Southern California, Century 21 In Town Realty in Downtown Vancouver, and Southern California real estate firm Star Real Estate South County, this year.
Shares of the company were up 8.33 per cent, or five cents, as at about 10:30 a.m. EDT, trading at 65 cents.
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