Eco Realty's Lead Generation Software Receives Investment from Averbach Mortgages

July 28, 2011

Averbach Mortgage Eco Realty's Lead Generation Software Receives Investment from Averbach Mortgages

Eco Realty Inc. announced today that Averbach Mortgages, winner of the CMP Canadian Mortgage Awards' best customer service award for 2010 and 2011, has made a substantial investment in Eco Realty in exchange for preferred stock.

"Ecorealty.ca provides Metro Vancouver home buyers and sellers with more real estate information than any other real estate brokerage in Canada," says Eco Realty CEO Grant Wilson. "We are offering Canadian consumers a third, viable alternative to high-fee franchises like Remax and low-service discount brokerages like RealtySellers. We have been actively seeking industry partnerships that add value to our existing services and Averbach Mortgages' customer-first mortgage philosophy is the perfect fit with our buyer- and seller-oriented software system."

In addition to their investment, Averbach Mortgage will power Eco Realty's substantial online lead generation database with the latest mortgage rates, including five-year fixed, five-year variable and one-year fixed terms. Buyers and sellers working with Eco Realty will be encouraged to contact Averbach Mortgages directly for preferential rates.

"This is the first-time we've encountered a residential real estate company lead generation software of this caliber in the Canadian marketplace," explains Mike Averbach, president of Averbach Mortgages."We've built our company around our commitment to award-winning customer service, one mortgage client at a time. The opportunity to invest and tap into Eco Realty's one-of-a-kind lead generation system was an investment opportunity we couldn't resist."

Consistent with Eco Realty's practice with other recent investors, Averbach Mortgages will not be represented on the Eco Realty board or hold special observer rights.

"When looking at their client growth and financial performance, it's clear that Averbach Mortgages is on a similar trajectory to Eco Realty," Wilson adds. "Their investment in our technology is very welcome as we continue to prepare our expansion into other Canadian markets."

Link to article PDF: Averbach Mortgages