Via Trading Markets
ValCom, Inc. (OTCBB: VLCO | PowerRating) and its My Family TV broadcast network subsidiary today announced that it will be partnering with Direct Shopping Network (DSN), a leading shopping channel, to conduct monthly, live real estate auctions.
ValCom and Direct Shopping Network conducted a test auction on November 14th that exceeded initial revenue projections.The success of the first auction facilitated a relationship between ValCom and DSN that will make televised real estate auctions an ongoing part of each company's operations.
Starting in July, ValCom and DSN will conduct live televised auction specials where 50 homes will be available to the general public.The live auctions will be seen on the Direct Shopping Network which is seen via the Dish Network and DirecTV satellite systems. The auctions will also be seen on My Family TV which is seen though a network of over 80 affiliated broadcast and cable channels. Combined, the two networks reach over 60 million US Households.
"We are helping people to live the American dream," said Vince Vellardita, President and CEO of ValCom. "There are over 5 million Americans who would jump at the chance to own their first home for under $20,000. Our goal is to conduct auctions on a weekly basis. These auctions are a huge opportunity for ValCom to generate over $1 million dollars in gross revenue each month."
The auctions will harness the power of television to bring new owners into some of the millions of homes that have been foreclosed over the past year. In addition to the televised auction, people across the country will have the opportunity to learn more about the properties
and participate in the auction through a companion website.
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