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Meet the Newest Strategic Partner - Ten-X - Sponsored Content

by Rick Sharga, Chief Marketing Officer, Ten-X

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All of us at Ten-X are excited to be one of the newest members of the Women's Council of REALTORS® National Strategic Partnership Program, and are looking forward to contributing to the organization's mission of advancing women as professionals and leaders in business, the industry, and the communities they serve.

I'd like to take this opportunity to provide a little background on our company, and discuss some of the business opportunities available for members of the Women's Council.

Ten-X is the nation's leading online real estate transaction marketplace. Since its founding in 2007, the company has sold over $48 billion in residential and commercial real estate – over 292,000 properties – to buyers across the country and around the world (buyers from over 100 countries have used a Ten-X website to buy properties). The company employs over 1,000 people, with headquarters in Irvine and Silicon Valley, CA, and offices in New York City, Miami, Dallas, Austin and Newport Beach.

We believe that real estate is moving ever more quickly online, and have been working for the last decade to provide agents and their clients the products and services they need to execute transactions from anywhere, at any time, on any computing device. We've developed websites using responsive design, which means that the site adapts itself to whatever device the user happens to be working on: desktop, laptop, notebook or smart phone. We also have iPad and iPhone native apps that are becoming more and more popular with our customers – over 55% of our buyers access our websites using mobile devices, and almost a third of all bids come in via mobile apps.

Ten-X is made up of three distinct businesses:

Auction.com, our legacy business, is the largest online marketplace for foreclosure and bank-owned homes. For members of the Women’s Council who work with investors – or who are real estate investors themselves – Auction.com represents an enormous opportunity, and one not frequently considered by the average REALTOR®. There are usually between 25-30,000 properties on the site that are not listed on the MLS, or anywhere else. For agents who want to learn how to work the foreclosure process, or how to work with investors who are looking for bank-owned properties, Auction.com has educational programs and a Concierge team that does local market training.

Ten-X Commercial blends data-driven technology with deep industry expertise to help CRE brokers and investors buy and sell commercial real estate online. Ten-X Commercial facilitated the largest online real estate transaction ever in 2015 – the $96 million sale of an office complex near Los Angeles. Thousands of CRE brokers work with Ten-X Commercial to expand their market reach, close deals in 90 days or less, and virtually eliminate re-trading. The site facilitates online auctions as well as online non-auction transactions through our new Offer Select product, which adds speed, simplicity and transparency to the negotiating process. We're always looking for CRE brokers who are interested in leveraging our global marketing engine (over 40% of our CRE sales are to buyers from out of state or outside the country) on behalf of their clients.

Ten-X Homes is our latest business, designed to help real estate agents and consumers more successfully connect, collaborate and transact via a personalized online experience. Ten-X Homes is in pilot programs in Miami and Phoenix, and will be in San Diego shortly, and we will be bringing more information to the Women's Council Networks in those markets over the next few months. Further market expansion is planned for 2018 and beyond.

We hope that one or more of our businesses can help you reach your professional goals this year and in the future, and hope to meet as many of you as possible at upcoming Women's Council events. In the meantime, if you have any questions, feel free to reach out to me directly at rsharga@ten-x.com.


About the Contributor 

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Rick Sharga - Chief Marketing Officer, Ten-X

Rick joined Ten-X, the leading online real estate marketplace, in July of 2013 as Executive Vice President of the company's Auction.com business unit. One of the country's most frequently-quoted sources on real estate, mortgage and foreclosure trends, Rick has appeared on CNBC, the CBS Evening News, NBC Nightly News, CNN, ABC World News, FOX, Bloomberg and NPR; briefed government organizations such as the Federal Reserve and Senate Banking Committee; and corporations like JPMorgan Chase, Citibank and Deutsche Bank.

Prior to joining Auction.com, Rick was an Executive Vice President for Carrington Mortgage Holdings, which owns and operates multiple businesses in the mortgage, real estate and securities industries. Rick also spent eight years at RealtyTrac, where as senior vice president he was responsible for marketing, business development and data operations, and won the Stevie® Award for National Marketing Executive of the Year. Before RealtyTrac, Rick developed and executed sales and marketing programs for technology companies such as Fujitsu, JD Edwards, Toshiba, and Hitachi; start-ups like Tickets.com; and consumer brands including Pizza Hut, Acura and Cox Communications.

Rick is a member of the Corporate Board of Governors of the National Association of Hispanic Real Estate Professionals, and on the Board of Directors of the Technology Council of Southern California. A member of the Five Star National Mortgage Servicing Association, Rick was included in Inman News' Inman 100, an annual list of the most influential leaders in real estate in both 2013 and 2014.

 

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