Solving the shortage in real estate inventory

The Austin Board of Realtors (ABoR) has reached an agreement with Buildersupdate.com that will help relieve some of the problems in the real estate market caused by inventory shortages.

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Buildersupdate.com

Oct 16, 2013, 11:32 ET

AUSTIN, Texas, Oct. 16, 2013 /PRNewswire/ -- The Austin Board of Realtors (ABoR) has reached an agreement with Buildersupdate.com to provide members special access to a patented tool for locating newly constructed homes. The decision will expand the number of choices readily available to real estate agents and consumers when shopping for a new home in the Austin area. The additional showing and purchasing options created by this agreement will help relieve some of the problems in the real estate market caused by inventory shortages.

"ABoR's mission is to meet the needs of Realtors® and the consumers they serve. When we first found out about the BuildersUpdate.com system, we knew we needed to work out an agreement with them. Builders Update will provide ABoR's site, Austinhomesearch.com, a way to connect new construction consumers with a licensed real estate agent," states Beth Gatlin, Director of Member Services for the ABOR®. "With the all the Realtor® specific features, the ease of use for the consumers, and the fact that Builders Update provides the system to ABoR, our members, and consumers at no charge; we feel it is a great solution that will serve the needs of the marketplace."

According to a spokesperson at NAR(The National Association of Realtors®), The Austin Board of Realtors® was one of the early adopters of an online MLS system, the system by which Realtors list and search for mostly resale homes. "We've been inundated with requests from Realtor Boards to demo our patented system; we are extremely pleased to announce that our first MLS agreement is with an MLS that is highly regarded nationally as a forward thinker," states Bill Gaul, CEO of BuildersUpdate.com.

"With the growing shortage of available properties to sell in a variety of cities across the country, new home inventory supplements resale inventory in addition to creating jobs," suggests Lee Goldstein, COO of BuildersUpdate.com. According to published statistics from the National Association of Home Builders (NAHB), every 100 new homes constructed creates 300 jobs for one year. "In addition to the construction jobs created by new homes, the economic activity created after the purchase of a new home is critical to job creation in the retail and service sector," Gaul said.

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SOURCE Buildersupdate.com