FOREWARN Partners with MetroTex Association of REALTORS®
Rhea-AI Summary
FOREWARN, a red violet company (NASDAQ: RDVT), has partnered with MetroTex Association of REALTORS®, the 5th largest local REALTOR® Association in the US, to provide its risk mitigation services to over 25,000 members in the Dallas-Fort Worth area. The service, available online and via mobile app, will be offered at no additional cost to individual agents. FOREWARN analyzes billions of data points to help agents verify identities, search criminal histories, and validate potential client information using just phone numbers, enabling safer property showings.
Positive
- Partnership with 5th largest US REALTOR® Association expands market reach to 25,000+ new users
- Service provided at no additional cost to individual agents, increasing adoption potential
- Revenue growth potential through large-scale institutional contract
Negative
- None.
Insights
The partnership with MetroTex Association of REALTORS®, representing 25,000+ members in the Dallas-Fort Worth area, marks a significant business expansion for FOREWARN. As the 5th largest REALTOR® association in the U.S., this deal strengthens RDVT's market position in the real estate safety solutions sector. The contract provides recurring revenue potential through subscription services, though specific financial terms weren't disclosed.
The Dallas-Fort Worth real estate market is one of the nation's largest and most active, making this partnership strategically valuable. FOREWARN's data-driven platform addressing safety concerns and fraud prevention aligns with current market demands for risk mitigation tools in real estate transactions. This large-scale adoption could serve as a reference point for other major REALTOR® associations, potentially driving future growth.
The 5th largest local REALTOR® Association in the United States contracts to make FOREWARN services available for its 25,000+ real estate professional members to promote proactive agent safety
BOCA RATON, Fla., Nov. 12, 2024 (GLOBE NEWSWIRE) -- FOREWARN, LLC, a red violet company (NASDAQ: RDVT) and the leading provider of real-time information solutions for real estate agents, today announced that MetroTex Association of REALTORS® (“MetroTex”) will offer FOREWARN® services to its 25,000+ members it serves throughout the Dallas-Fort Worth metropolitan area to promote proactive real estate agent safety.
Available both online and through a mobile application, FOREWARN analyzes billions of data points and provides users with the ability to mitigate risks by verifying identity, searching for criminal histories, and validating information provided by potential clients -- using just a phone number. FOREWARN allows agents to properly and safely plan for showings with a higher level of confidence.
The FOREWARN services offered by MetroTex are available to the 25,000+ members at no additional cost to individual agents.
"Member safety and fraud prevention top the list of our priorities as an association," said Justin Landon, CEO of MetroTex Association of REALTORS®. "Providing FOREWARN helps us to accomplish both of these important goals and offer the maximum possible benefit value. We are thrilled to be empowering our members with such a critical tool.”
Existing MetroTex members will receive specific instructions on how to move forward with activating their FOREWARN subscription as an included benefit.
All other real estate agencies, agents, and appraisers can learn more about FOREWARN at www.forewarn.com.
About FOREWARN®
At FOREWARN, we bring instant knowledge through innovative solutions to ensure safer engagements and smarter interactions. Leveraging powerful analytics and a massive data repository, our solutions enable organizations to gain real-time knowledge, for purposes such as verifying identity, searching for criminal histories, and validating information. Risk assessment and due diligence at your fingertips™.
RELATED LINKS: www.forewarn.com
About red violet®
At red violet, we build proprietary technologies and apply analytical capabilities to deliver identity intelligence. Our technology powers critical solutions, which empower organizations to operate with confidence. Our solutions enable the real-time identification and location of people, businesses, assets and their interrelationships. These solutions are used for purposes including identity verification, risk mitigation, due diligence, fraud detection and prevention, regulatory compliance, and customer acquisition. Our intelligent platform, CORE™, is purpose-built for the enterprise, yet flexible enough for organizations of all sizes, bringing clarity to massive datasets by transforming data into intelligence. Our solutions are used today to enable frictionless commerce, to ensure safety, and to reduce fraud and the concomitant expense borne by society. For more information, please visit www.redviolet.com.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipate,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward looking statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control and which may cause results to differ materially from expectations, including whether FOREWARN will address critical safety concerns and needs for MetroTex members. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release and are advised to consider the factors listed above together with the additional factors under the heading “Forward-Looking Statements” and “Risk Factors” in red violet’s SEC Filings. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Investor Relations Contact:
Camilo Ramirez
Red Violet, Inc.
561-757-4500
ir@redviolet.com
FAQ
What is the partnership between FOREWARN (RDVT) and MetroTex Association of REALTORS®?
How many members will have access to FOREWARN (RDVT) services through the MetroTex partnership?
What features does FOREWARN (RDVT) offer to MetroTex members?
