Newcondosonline.com is the largest and most visited new condo website in the country. The San Diego based company posted record profits for 2007, even though the state of the real estate market has been poor overall.
With Over 1300 clients in 20 countries, NCO proved that Internet marketing is the most cost effective resource for condo and townhome developers in this day and age. The company provides a free service to users where they can search and compare new condo developments by visiting property websites and requesting free information. Developers and marketing firms pay monthly fees to list their projects on the leading website in the industry.
On their success this year, CEO Brandon Fishman said, "We have proved the success of the Internet for generating condo buyer leads. Developers and marketing firms now understand the importance of website traffic and overall internet exposure. www.newcondosonline.com is the leading website in the country because our site is simple and easy for our home buyers to use."
With over 80% of home buyers now starting their new home search online, the importance of Internet advertising can no longer be ignored. Home Builders have been known to spend upwards of $50,000 for one weekend in a major newspaper and they can now get an entire year of online advertising for a tiny fraction of what they used to spend for 2 days in a newspaper.
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 developers in these markets."
NewCondosOnline.com has also opened two new divisions this year to increase their list of developer services. NCO Capital was created to help developers secure financing for projects as well as assist in the bulk purchase of condo units. NCO has successfully completed several bulk purchase deals by partnering with Axiom Realty Capital out of Salt Lake City Utah. NCO brings qualified developers to Axiom and Axiom has an investor base that will purchase up to 50% of the units in a condo project. NCO has also successfully sourced capital for several developers.
The second division is NCOAMG LLC. NCO has opened the West Coast office of America's Media Group. AMG is the leading real estate media buying firm in the country. We design and manage large scale media plans for developers. With our bulk purchasing power we can secure the best rates for our clients and help them increase their overall exposure for their developments.
NCO has had a very successful year and has taken the steps to become a full one stop resource for developers across the world. The company can finance condo projects, bring in investors, put media plans into action, and handle all of the online advertising. This company is transforming the way condos are marketed online and the future looks bright for NCO and their clients.