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FREQUENTLY ASKED QUESTIONS,
Q: Who is Interealty?
A: Interealty is a premier provider of Multiple Listing Service (MLS) systems and real estate software in North America. The acquisition of Interealty from Geac, a global enterprise software company, by The First American Corporation was announced October 3, 2005. Interealty has provided North America’s leading real estate boards and associations with innovative products like its flagship product - the MLXchange MLS system - for more than three decades. The company offers a full line of technology products and support services to the real estate industry, including MLS organizations, franchisors, and agents. As a subsidiary of First American Residential Group, Inc., Interealty will continue to operate their existing technology systems from the company’s main office locations in Vienna, Va., Fort Lauderdale, Fla., Atlanta, Ga., and Vancouver, Canada, under the direction of the company’s existing management team, led by President Bryan Foreman. For more information, visit: www.interealty.com.
Q: Who is First American Residential Group?
A: First American Residential Group is a subsidiary business line established by The First American Corporation in 2002 to address the real estate brokerage, multiple listing service (MLS) and relocation market segments with the full array for First American capabilities. Its systems streamline real estate listing, financing and closing processes, resulting in increased efficiency and profitability. First American Residential Group operating units include MarketLinx and Interealty, both leading providers of MLS systems and real estate software in North America, and Relocation Advantage and Certified Closing Network (CCN), leading providers of closing management services to relocation companies.
Q: Why did First American acquire Interealty when they already own MarketLinx® Solutions?
A: The addition of Interealty is another step toward First American’s overall strategy of providing real estate professionals, buyers, sellers and borrowers with a single, comprehensive and convenient system that reduces the cost and time associated with residential real estate transactions. Offering MLS systems and software via Interealty and MarketLinx® Solutions will move us to a dominant position in the marketplace serving almost 500,000 members. Interealty also provides First American with its first exposure to the MLS market in Canada.
Q: What are the implications of having both MarketLinx® Solutions and Interealty involved in the same business?
A: The plans are for the sale, maintenance, development and support of the TEMPOT product to continue to be performed from the Knoxville office.
Q: How will First American MLS Solutions fit within The First American Corporation?
A: Having two great MLS companies and technology systems under one roof is extremely exciting because it offers many growth opportunities for our business and for our employees:
- Our customer's experience can only get better, backed by the knowledge of two successful companies
- New and greater levels of service will be offered, further enhancing client relationships
- First American recognizes that the clients of both companies selected their provider for a reason, and we respect those choices; any changes considered would be in the context of adding value to our customers
- There is so much growth in front of us as a business that there will be more than enough opportunity for internal promotion of employees of both companies.
Q: What is the overall message to our customers regarding the acquisition?
A: In addition to the above information, we want to make it clear to the customers of both Interealty and MarketLinx that this is an extremely new relationship, and our planning is still in the infancy stages. We don’t have a lot of details yet, but it is and will continue to be business as usual moving forward.
Q:Who can I contact for more information?
A: Bryan Foreman
President
Interealty
Phone: 703-610-5054
Bryan.Foreman@interealty.com
Thad N. Shows
President
MarketLinx Solutions
Phone: 865-777-0088
Tshows@marketlinx.com
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