Newsroom

Agent network hits 15,000, estimated to surge up to 150,000

*** Ribas of RE/MAX Realty Professionals in Reno, Nevada was number 15,000. "I do not consider myself to be very tech-savvy but I didn't have any problems at all." stated Mr. Ribas '.I will be recommending Point2 Agent to my fellow agents."

The technology underlying the network is Point2 Agent (www.point2agent.com). Agent was released in January, 2003 and quickly became popular with its early users. "It is surprising how quickly it has been adopted. We knew we had built a product that was impressive and unique, but you just don't expect the word to get out so quick." said Brendan King of Point2 Realty Solutions Inc. "The member's of the network have really run with it."

King is humble in his assessment; it really isn't surprising that the members have decided to spread the word. Point2 Agent has allowed the network's members to prosper at no cost. The standard version is, and will always be free to real estate professionals who want to use it. Of course, the company offers versions of the product that users can upgrade to for a fee but the majority of users haven't because the standard version is so impressive. King clarified that "we have built a product that allows for this because it doesn't cost us much. Whether it is 15,000 or 150,000 people using it, our costs are relatively nominal."

The most intriguing part is that the more members in the network, the more valuable the network becomes to each member. The network is incredibly powerful at 15,000 but its projected by some that within 6 months the network will be 50,000 strong and 150,000 within 18 to 24 months. Whether this happens remains to be seen, but the momentum of the network is substantial and the reasons to join are compelling

CatUsed.com, Point2 Gaining Global Ground

The new Point2-powered CatUsed Suite was launched in May of 2002, providing Caterpillar with a truly world-class system enabling CAT Dealers to offer used heavy equipment to the international marketplace.

Today, the CatUsed system has become a critical business application to dealers across North America and has resulted in 100% North American dealer participation. Since the launch of the CatUsed.com website, traffic has increased tenfold in one year. Approximately 8,000 Caterpillar machines are viewed each day through both the Point2 UsedIron marketplace and CatUsed.com. In addition, CatUsed adoption has grown globally among dealers in Europe, the Middle East, Africa, Asia, Australia and Central and South America. The Point2-powered system has also become an integral part of Caterpillar's Rental and Used Equipment division.

In addition to updating the CatUsed online marketing system, Point2 has successfully completed various other projects, including the Caterpillar Certified Inspection (CCI) Module, the PDA Inspection Module (allowing dealers to inspect inventory using a handheld PDA), and a more robust parts system. The site has also been fully developed to support multilingual users in Spanish, Italian, French, and German.

In September 2002, the Point2 UsedIron Marketplace underwent major upgrades, including a faster, more robust search engine that resulted in a 300% boost in traffic in 6 months. In November 2002, PointUsediron.com began to mirror much of the used equipment already featured on the CatUsed.com website. The combination of a faster online marketplace and duplication of information on two highly trafficked sites led to a spike in detailed equipment views for Caterpillar dealers.

Point2 continues to work with Caterpillar to implement new cutting-edge features, upgrades, and enhancements to the CatUsed system.