Prudential Real Estate and Yahoo! Partner for Comprehensive Real Estate Listings

Prudential Real Estate Affiliates, Inc. and Yahoo! Inc. have entered into an agreement that provides visitors to Yahoo! Real Estate with access to comprehensive and detailed real estate listing information from a Prudential Real Estate broker in their selected market area. This partnership aims to provide consumers with a more powerful set of real estate information, leveraging the network of Prudential brokers and their 50,000+ agents nationwide. The agreement complements Yahoo!'s existing home and community information and services, including apartment and new home listings, local mortgage rates, insurance information, local school reports, and neighborhood profiles.

Key Takeaways:

• The partnership between Prudential Real Estate and Yahoo! aims to provide consumers with access to comprehensive and detailed real estate listing information from a Prudential Real Estate broker in their selected market area.
• The agreement gives visitors to Yahoo! Real Estate access to customized websites operated by Prudential Real Estate brokers, providing users with robust home buying tools and features such as listing alerts, multiple property photos, virtual tours, and the option to schedule a home tour.
• Prudential Real Estate brokers will provide users with a more powerful set of real estate information and services, including apartment and new home listings, local mortgage rates, insurance information, local school reports, and neighborhood profiles.
• The partnership will enable consumers to view and post property listings, research neighborhoods, and view properties through virtual tours.
• Prudential Real Estate and Yahoo! plan to extend this service to additional markets in the future, with immediate availability in Austin, Baltimore, Boston, Chicago, Dallas/Ft. Worth, Houston, Lexington, Kentucky, and Washington, DC.
• The partnership aims to provide consumers with the highest quality real estate services in the country, leveraging the network of Prudential brokers and their 50,000+ agents nationwide.
• Prudential Real Estate will gain a powerful marketing and sales channel for the Prudential Real Estate Network, with over 50,000 real estate sales professionals in all 50 states, who closed in excess of $153 billion in real estate transactions in 2003.
• Paul Levine, general manager of Yahoo! Local, stated that Yahoo! is committed to providing the most comprehensive real estate information available on the Web, and that the partnership with Prudential will provide consumers with the highest quality real estate services in the country.
• Earl Lee, president of Prudential Real Estate Affiliates, stated that the company is excited about making its industry-leading technology and the breadth and strength of the Prudential Real Estate Network available to Yahoo! customers.

Statistics:

• Over 50,000 real estate sales professionals are part of the Prudential Real Estate Network.
• Prudential Real Estate brokers closed in excess of $153 billion in real estate transactions in 2003.
• The partnership will be available in the following market areas: Austin, Baltimore, Boston, Chicago, Dallas/Ft. Worth, Houston, Lexington, Kentucky, and Washington, DC.
• Prudential Financial's real estate group began offering franchises in 1988 and is now one of the largest real estate brokerage franchise networks in North America.
• As of December 31, 2003, there were over 1,700 franchise offices and over 50,000 sales professionals in the franchise network in the U.S. and Canada.
• Prudential Financial companies have approximately $454 billion in total assets under management as of March 31, 2004.

Sources:

• Prudential Real Estate Affiliates, Inc.
• Yahoo! Inc.
• "Yahoo! and Prudential Real Estate Network Partner to Provide Comprehensive Real Estate Listings" (press release)
• Yahoo! Real Estate (http://realestate.yahoo.com)
• Prudential Financial, Inc. (NYSE:PRU)
• Prudential Real Estate and Relocation Services
• "Annual Report on Form 10-K for the fiscal year ended December 31, 2003"
• "Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2004"