Property ManagementHomestore Closes Deal With Homebid
Homestore.com, Inc. (Nasdaq:
HOMS), operator of Realtor.com®, the official site of the National
Association of Realtors®, today announced its acquisition of substantially
all the assets of Homebid.com, an application service provider specializing
in Web-based tools for the real estate industry. Homestore.com"s purchase
includes the intellectual property rights for Homebid.com"s Offer
Manager(tm) technology, which allows real estate professionals to manage
offers and negotiate home sales via the Internet, as well as other Web-based
real estate tools in development by Homebid.com.
Homestore.com will continue to develop the real estate software created by
Homebid.com, including Offer Manager(tm), which is expected to become part
of eREALTOR.comsm, an online system for real estate transactions.
Homestore.com is developing the platform in conjunction with the National
Association of Realtors® and several other leading industry participants to
help agents and brokers guide clients through the numerous steps involved in
buying a home, from initial contact to closing. With plans to utilize
software already popular among agents and brokers around the country,
eREALTOR.comsm will provide, among other things, an automated scheduling and
workflow engine, an order center linked to real estate professionals" key
vendors - including title and escrow service providers, mortgage brokers and
inspection companies - and an electronic document storage and transaction
archive.