Despite the real estate market being at an all-time low in 2007, Newcondosonline.com posted record profits. The company’s numbers show that online marketing is the most cost effective way to promote townhouses and condos. The company provides a free service to users where they can search and compare new condo developments. Marketing firms and developers pay monthly fees to list projects.
CEO Brandon Fishman said, “We have proved success of the Internet for generating condo buyer leads. Developers and marketing firms now understand the importance of website traffic and overall internet exposure. Newcondosonline.com is the leading website in the country because our site is simple and easy for our home buyers to use.”
President Brent Gleeson stated, “Some of our best markets this year have been Seattle, Phoenix, Las Vegas and Chicago. While the real estate market has struggled in these markets, the projects that understand the importance of online advertising have continued to do well. The Internet has allowed them to easily reach International investors. With the weak price of the dollar, international investors are attracted to these properties as investments. With over 10% of our weekly newsletter hitting international investors, we have been able to help sell a lot of units for developer in these markets.”
The company has also opened two new divisions this year to increase their list developer services.