First American Launches Real Estate Information Technology Company, Marketlinx, Inc.
|January 30, 2007|
SANTA ANA, Calif., – The First American Corporation (NYSE: FAF)launched MarketLinx®, a new company established to effectively address the full range of information technology needs of residential real estate professionals. MarketLinx combines the strengths of First American subsidiaries First American MLS Solutions, Inc.; Offutt Systems; Sonic Eagle, Inc.; and Lucero Research Corporation to provide customizable technology solutions for multiple listing services, brokers and agents through a single entity.
“Our long-term strategy is centered on the development of a complete, online real estate platform that provides an integrated set of components to perform all of the functions that are important in a residential property transaction,” said Stephen C. Roney president and chief executive officer of MarketLinx. “Merging the technology and software assets of these companies into one organization offers ease-of-use for the real estate professional, who can now order several core products and services from one entity rather than multiple providers. The end result is an enterprise solution that offers the same high levels of service, while producing significant efficiencies for our customers.”
MarketLinx offers a full line of technology and support services through systems currently used by more than half a million real estate professionals nationwide. Products and services include the MLXchange, TEMPO™ and InnoVia MLS systems and related association solutions; AgentAchieve™, a Web-based software solution that provides best-in-class broker business management and agent productivity tools; and Lucero Summit residential real estate office management software systems.
“We recognize the importance of providing a clear channel for information technology that provides greater market strength to our many real estate clients,” added Roney. “By offering our real estate technologies and software systems through one company under unified leadership, we are able to capitalize on the strengths of all of the entities and enhance our overall value proposition to our customers. We are committed to leading this market through our unsurpassed dedication to client service and high-quality technology solutions and software systems.”
MarketLinx will operate under the direction of the existing First American MLS Solutions, Offutt Systems, Sonic Eagle and Lucero management teams, led by MarketLinx executive vice presidents Bryan Foreman, Mike Lancaster and Leonard Troutner, all reporting directly to Roney. Foreman will also continue in his role as president of MLS operations.
“MarketLinx offers significant growth opportunities given the synergies of the combined business lines and the fact that no other company has managed to successfully pull together the different technology platforms that bridge the entire real estate transaction under a single entity,” said Foreman. “The formation of MarketLinx allows us to continue to support and enhance our platforms, and move toward an end-to-end solution that seamlessly integrates all of the most popular real estate technologies under a single sign-on application.”
Source: The First American Corporation