Hubzu Expands Full Foreclosure Auction Services Into More States

Rhea-AI Summary

Hubzu, a leading online real estate marketing platform, has expanded its foreclosure auction services to Ohio, enhancing its nationwide coverage. The platform now facilitates full-service online foreclosure auctions in 17 states, aiming to maximize sales performance for clients. With over 221,000 homes sold and 4.5 million bids placed since 2009, Hubzu employs advanced marketing strategies, reaching over 1.75 million registered users. Anticipating further expansion, Hubzu plans to integrate online and mobile solutions, connecting its platform to in-person auctions.

Positive

• Expanded online foreclosure auction services to Ohio, increasing market presence.
• Facilitated sales of over 221,000 homes and generated over 4.5 million bids since 2009.
• Marketing reach includes over 1.75 million registered users and 8.6 million annual property views.

Negative

• None.

LUXEMBOURG, June 23, 2020 (GLOBE NEWSWIRE) -- Hubzu^®, a leading online real estate marketing platform, today announced it now offers customers some of the broadest coverage in the country for foreclosure auction services. It recently began conducting full-service online foreclosure auction sales in Ohio, making it one of the first in the industry to do so. With that expansion, Hubzu now provides marketing for foreclosure auctions nationwide and full-service (live cry and marketing) foreclosure coverage in 17 states with more on the way.

The Hubzu online platform is an end-to-end asset management disposition solution for residential foreclosure, short sale, REO, deed in lieu, CWCOT and retail property auctions. Hubzu simplifies the purchase and sales process for buyers, sellers and brokers of foreclosure and other properties with transparent bidding and streamlined transaction support. Supported by a strong focus on customer feedback, data and analytics, Hubzu has facilitated the sale of over 221,000 homes nationwide with over 4.5 million bids placed since 2009.

The Hubzu platform helps improve third-party sales by increasing exposure of each property through extensive, multichannel marketing and optimized disposition strategies. Most properties are marketed on over 200 syndication sites, and many with premium placement and customized branding. Properties are also promoted through targeted emails to a database of 1.75 million registered users. Sellers and their listing agents who market their properties on Hubzu also have access to a display advertising network that has driven 8.6 million property views annually and industry-leading SEM strategies that have garnered approximately 53 million advertising impressions to date.

Hubzu is one of the first auction companies to utilize newer foreclosure rules in Ohio that allow a private selling officer to conduct the foreclosure sale completely online. It has also incorporated all its auction marketing best practices into Hubzu’s easy-to-use online foreclosure auctions in order to help maximize participation, bids and, ultimately, third-party sales rates.

“We are very excited to provide full online foreclosure auctions in additional states,” said Travis Britsch, Hubzu Vice President of Auctions. “Hubzu is dedicated to providing top auction services to our clients wherever their foreclosure properties are located. Our goal is to enhance the overall auction experience for prospective buyers and maximize live and online sales performance for our clients.” 

Hubzu is in the process of expanding the number of full-service auction states it serves. In late 2020, Hubzu anticipates deploying new integrated online and mobile technology solutions that connect the platform with live on-site foreclosure auctions. This will provide buyers with the ability to place proxy bids, help improve efficiency and increase third-party sale rates.

About Hubzu^®

Hubzu is a leading online real estate marketing platform. Since 2009, Hubzu has facilitated the sale of over 221,000 homes in the United States and Puerto Rico via its transparent online marketing and auction process. Licensed agents and brokers use the Hubzu platform to market and facilitate the auction of properties for their clients. Home buyers benefit from Hubzu’s search tools and automated and transparent bidding process to find and purchase new homes. Hubzu is part of the Altisource^® Portfolio Solutions S.A. family of businesses. Additional information is available at Hubzu.com, Facebook and LinkedIn. 

About Altisource^®

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets it serves. Additional information is available at altisource.com.

Source: Altisource Portfolio Solutions S.A. 

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Investor Contact: Michelle D. Esterman Chief Financial Officer 770-612-7007 Michelle.Esterman@altisource.com

Press Contact: Kevin Hosey Senior Manager, Marketing 770-612-7007 Kevin.Hosey@altisource.com

 

FAQ

What new services has Hubzu introduced for foreclosure auctions?

Hubzu has expanded its services to conduct full-service online foreclosure auctions in Ohio.

How many states does Hubzu provide foreclosure auction coverage in?

Hubzu currently offers foreclosure auction marketing in 17 states.

What is the total number of homes sold by Hubzu?

Hubzu has facilitated the sale of over 221,000 homes since its inception in 2009.

How does Hubzu enhance property marketing for auctions?

Hubzu utilizes extensive multichannel marketing and optimizes property exposure through over 200 syndication sites.

What future plans does Hubzu have for its auction services?

Hubzu plans to integrate online and mobile technology solutions to connect its platform with live on-site foreclosure auctions in late 2020.