Chorus Unites All Parties to Speed the Real Estate Transaction; iProperty.com Unveils the Chorus Transaction Management Solution.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Feb. 23, 2000 iProperty.com, the leading business-to-business hub in residential real estate, today unveiled their Internet-based Chorus chorus, in music chorus, in music, large group of singers performing in concert; a group singing liturgical music is a choir. The term chorus may also be used for a group singing or dancing together in a musical or in ballet. (SM) transaction management solution. iProperty.com's Chorus technology links together, for the first time, all participants in the residential real estate transaction to expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. the closing process and reduce redundancies and inefficiencies. Chorus will shave shave (shav) 1. to cut at or parallel to the surface of the skin. 2. to remove the beard or other body hair by such a process. 3. to cut thin slices from or to cut into thin slices. weeks off the closing process. "Our Chorus technology streamlines a home-buying transaction while offering brokers and agents integrated listing and contact management tools," said Doug Dayhoff, chief executive officer of iProperty.com. "All the participants in a property transaction can use Chorus to work in concert through a secure, customized REALTOR(R)-branded Web site created for each homebuyer home·buy·er n. One who is in the process of buying a home. and seller." Using the Chorus technology, a real estate agent uses a few simple keystrokes to create a secure, customized Web site for each seller and buyer. Each site is co-branded with the agent's name and photo and the brokerage affiliation. When a buyer begins to work with a Realtor, Chorus becomes the buyer's unique Web site for the transaction. While online, the buyer can access multiple listing service (MLS See multilevel security. ) data, shop and apply for mortgages, select an inspector, and order closing services - all in consultation with the Realtor. Because Chorus serves as a common workspace, the buyer can check on the progress of the closing process at any time. The home seller and real estate agent use Chorus to monitor buyer interest in the property. It records the number of "hits" on the listing and the number of interested potential buyers who have bookmarked the home. This information assists the seller and agent in making appropriate decisions about marketing the home. Chorus also allows lenders and closing service providers to increase their market share by having a virtual presence at the time and place of a contract for sale. Buyer and home data can be exported to loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. software without re-keying. Reports, such as inspections, can be uploaded into the site for distribution. By providing a common workspace for all the partners, Chorus streamlines the transaction, reduces redundancies, and saves time and aggravation Any circumstances surrounding the commission of a crime that increase its seriousness or add to its injurious consequences. Such circumstances are not essential elements of the crime but go above and beyond them. . For example, information is keystroked once, then applied to multiple documents. In addition, uniform residential loan applications are shared with multiple lenders simultaneously, and status bars on the Web site provide a quick check of the transaction's progress. "We are providing the Chorus technology free to real estate brokers and agents," said Dayhoff. Participating closing service providers, such as the lender, appraiser A person selected or appointed by a competent authority or an interested party to evaluate the financial worth of property. Appraisers are frequently appointed in probate and condemnation proceedings and are also used by banks and real estate concerns to determine the market , inspector, and title company, will pay fees that support the site. "Given the opportunity to target customers at the time of purchase, we believe lenders and closing services will be able to drive significant incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. business by participating on a Chorus Web site," Dayhoff added. iProperty.com will begin deploying Chorus during the second quarter of this year. About iProperty.com iProperty.com is the leading developer of Internet marketplaces See vertical portal and Web hub. for the residential real estate industry. A business-to-business hub, their Chorus transaction management solution streamlines the home-buying process by electronically linking all the participants via the Internet. This technology provides Realtors, lenders and closing service providers with an integrated solution for managing contacts, listings and closings. The Chorus technology creates a common workspace to facilitate data sharing The ability to share the same data resource with multiple applications or users. It implies that the data are stored in one or more servers in the network and that there is some software locking mechanism that prevents the same set of data from being changed by two people at the same time. and to simplify the complexities of the process. Based in Bloomington, Ind., iProperty.com merged with RISCO, a Kansas City-based multiple listing service (MLS) provider. The merger creates the nation's third-largest MLS company serving more than 55,000 Realtors in 40 states. |
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