FOREWARN Partners with New Hampshire Association of REALTORS®
Rhea-AI Summary
FOREWARN, , a red violet company (NASDAQ: RDVT), has partnered with the New Hampshire Association of REALTORS® (NHAR) to provide its real-time information solutions to over 6,500 real estate professionals across New Hampshire. This partnership aims to enhance agent safety and risk mitigation.
FOREWARN's services, accessible online and via a mobile app, utilize advanced data analysis to verify client identities, search criminal histories, and validate information using only a phone number. This tool enables agents to plan showings more confidently and safely.
NHAR is offering FOREWARN services to its members at no additional cost, demonstrating its commitment to member safety and well-being. Bob Quinn, CEO of NHAR, emphasized the importance of this tool in simplifying prospect verification and enhancing personal safety for real estate professionals.
Positive
- Partnership with New Hampshire Association of REALTORS® expands FOREWARN's user base by 6,500+ members
- FOREWARN services provided at no additional cost to NHAR members, potentially increasing adoption rates
- Expansion into New Hampshire market may lead to increased revenue and market presence for RDVT
Negative
- None.
Insights
The partnership between FOREWARN and the New Hampshire Association of REALTORS® (NHAR) is a strategic move that could positively impact RDVT's market position. By offering FOREWARN services to NHAR's 6,500+ members at no additional cost, RDVT gains access to a significant user base in New Hampshire.
This deal has several potential benefits for RDVT:
- Increased user adoption and data collection, enhancing FOREWARN's value proposition
- Recurring revenue stream from NHAR's subscription
- Enhanced brand recognition in the real estate sector
- Potential for similar partnerships with other state associations
However, the impact on RDVT's financials may be in the short term, given the company's
FOREWARN's technology offers a compelling solution to a critical issue in the real estate industry: agent safety. The platform's ability to analyze billions of data points for identity verification, criminal history checks and information validation using just a phone number is technologically impressive.
Key technological advantages include:
- Real-time information processing
- Mobile application availability for on-the-go use
- Integration of vast datasets for comprehensive background checks
This partnership could drive further innovation in RDVT's product offerings, as increased usage provides more data for machine learning algorithms to improve accuracy and expand features. The scalability of this SaaS model also positions RDVT well for future growth in the proptech sector.
New Hampshire Association of REALTORS® contracts to make FOREWARN services available for its 6,500+ real estate professional members to promote proactive agent safety
BOCA RATON, Fla., Oct. 18, 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 New Hampshire Association of REALTORS® (“NHAR”) will offer FOREWARN® services to its 6,500+ members it serves throughout the State of New Hampshire 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 NHAR are available to the 6,500+ members at no additional cost to individual agents.
"We place a high value on the safety and well-being of our members," said Bob Quinn, CEO of New Hampshire Association of REALTORS®. "Introducing FOREWARN as a core benefit reflects our commitment. This tool simplifies the prospect verification process, helping members identify fraud, mitigate risks, and enhance their personal safety.”
Existing NHAR 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 simplify the prospect verification process, helping members identify fraud, mitigate risks, and enhance their personal safety. 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 stock symbol for FOREWARN's parent company?
How many NHAR members will have access to FOREWARN services?
What information does FOREWARN use to verify potential clients?
Who is the CEO of New Hampshire Association of REALTORS® mentioned in the press release?
