xMedia Participation, a Denver-based mobile marketing firm, announced today the release of “RETextLeads,” a mobile lead-generation platform designed for the real estate industry. Their tag line is “let your yard sign communicate with passerbys via cell phone,” which pretty much explains what they do.

Put a mobile number on your listing, and when a buyer texts to that number for more information they get additional info on the property, and a local agent gets notified of the potential purchaser.

To kick start the idea, xMedia is offering real estate professionals the opportunity to sign up a free listing. The concept is that Realtors, brokers, property managers, and landlords can “facilitate fast, timely communication with potential buyers.”

“Many real estate agents spend countless hours and significant amounts of money placing classified ads, or printing and distributing flyers and brochures for the many properties they are selling,” said Chris Haller, Founder and Director at xMedia Participation. “This approach is not only time-consuming and expensive, it is quite limited in its effectiveness. Our goal is to empower real estate professionals with a faster, better, more affordable way to get the attention of potential buyers, so they can close more deals.”

Of course, with an iPhone or other smartphone, buyers wouldn’t need to use a text interaction to find out more information on the property. This move targets the many potential buyers that still have a simple mobile phone with some text messages to spare.

Realtor.com offers a mobile app for Windows Mobile or PocketPC PDA that helps buyers locate properties listed on REALTOR.com within their area, using GPS technology or search criteria.