First American Launches New MLS Solutions Division
|December 9, 2005|
SANTA ANA, Calif., -- The First American Corporation (NYSE: FAF), announced the launch of First American MLS Solutions, a new division of First American Residential Group. The division will combine the organizations and services of First American subsidiaries MarketLinx® Solutions and Interealty to provide customizable Web-based solutions for multiple listing services (MLSs) and real estate associations through a single entity.
"Our strategy is to provide real estate professionals, buyers, sellers and borrowers with a fully integrated experience that includes all of the services necessary to close a real estate transaction." said Parker S. Kennedy, chairman and chief executive officer of The First American Corporation. "Combining these two organizations into one division will help further extend the First American brand in the homebuying process and produce significant efficiencies that will benefit existing MarketLinx and Interealty customers."
First American is already the leading Web-based MLS technology provider and has established a strong market position through the success of both MarketLinx and Interealty. Currently, the two companies together provide a full line of products and support services to nearly half a million real estate professionals in North America. First American MLS Solutions will continue to offer the technology of both companies.
Bryan Foreman of Interealty has been appointed president of the new division and will report to Stephen C. Roney, president and chief executive officer of First American Residential Group. Thad N. Shows of MarketLinx will assume the position of vice president, residential strategic IT operations and development, with First American Title Insurance Company. Shows will be responsible for the integration of all MLS, residential and title products, reporting to Larry Godec, senior vice president and chief information officer of First American Title Insurance Company.
"By offering our MLS products and technologies through one division under single leadership, we are taking the next step toward a unified, end-to-end solution that reduces the cost and time associated with residential real estate transactions," said Roney. "The formation of First American MLS Solutions allows us to further improve our high-quality MLS services and technologies."
"The unification of our MLS solutions enhances our overall value proposition to our customers, enabling us to capitalize on the strengths of both MarketLinx and Interealty," said Foreman. "First American will continue to lead this market through our unsurpassed dedication to client service. MarketLinx and Interealty service teams will remain intact and continue to support and enhance existing technology systems under the new division. The trust our clients have placed in us is our most important asset."
Source: The First American Corporation