April 30, 2015 – MIAMI , FL—As part of the Company’s move into the “transaction stream”, Condo.com has announced the hiring of Michael Covert as Senior Vice President of Broker Relations and Inventory Management.
“As we rapidly grow our exclusive marketing program with the top condo brokerage firms in leading markets around the country, it was important to support the program with a strong hire”, stated Richard Swerdlow, CEO of eRealEstateHoldings, the holding company which operates Condo.com and Houses.com. “Michael’s broad experience in the financial services industry provides him with the tools needed to establish proper financial reporting and metrics to track and manage referral streams from the thousands of leads sent monthly to our partners – a critical piece of the go-forward business model” Swerdlow added.
Mr. Coverts responsibilities will include interfacing with each exclusive marketing partner, building out their marketing plan on Condo.com, account management, reporting and business development initiatives. His plans will unify Condo.com’s diverse marketing tools across desktop, mobile, the Condo.com blog and social media sites. By streamlining processes, the Company will deliver an effective and lucrative partnership with the local best-in-class brokers – increasing lead flow and closings for both parties.
“It’s an exciting proposition,” Covert explained, “Offering exclusive partnerships to top-notch local brokerage firms …giving them the chance to leverage the branding and exposure of the web’s top condo site—it’s an unprecedented program in the real estate marketing and lead generation space. There are over $1 trillion in annual residential real estate transactions. As an asset class, condo’s account for approximately 10% of the total and Condo.com will secure a growing market share of this transaction stream”, he added.
Covert comes highly qualified; with over a decade of experience in account management, marketing and sales within the financial services industry. His roles have included Vice President with investment bank Guzman & Company, where he managed the firm’s Treasury Services Department, oversaw development of an online money market fund portal, and directed the corporate share repurchase program for Fortune 500 clients.
Covert also served as Associate at PIMCO, part of a team focused on managed accounts and short-term investment products. Covert earned a Bachelor’s degree in Psychology from Stanford University, where he was part of the swimming team winning two national championships.
Condo.com is a global real estate marketplace for listing, searching, buying, selling and renting condominiums. Located at the “category-defining” address for condos, the site has the largest inventory of condos available for sale or rent and market data and reviews on thousands of condo buildings.
Condo.com is part of the portfolio of digital real estate properties owned by eRealEstate Holdings, which includes Houses.com and Property.com. These portals are considered some of the world’s largest online marketplaces for real estate, with more than five million active properties for sale and rent in the U.S. and more than 70 countries worldwide. The sites collectively receive more than 20 million unique visitors per year and deliver highly qualified buyers and renters to a global network of brokers and agents. The privately owned company has headquarters in Miami.