Commercial Real Estate Brokers Find Success Using PropertyFirst.com.Business Editors/Real Estate Writers ALHAMBRA, Calif.--(BUSINESS WIRE)--March 23, 2000 Control of the Transaction, Access to Qualified Buyers, Quality and Ease of Use Combine to Accelerate the Success of Brokers Using This Internet Marketplace See vertical portal and Web hub. PropertyFirst.com, the industry's fastest growing online marketplace for commercial real estate, today announced that commercial real estate brokers are using the power of PropertyFirst.com on an increasingly regular basis and are finding it to be an effective and efficient way to conduct business. As a result, 26 leading brokerage firms have agreed to post their exclusive investment listings on the site and over 550 other firms have posted in excess of $22 billion on the site in only six months. PropertyFirst.com's mission has always been to create products that center on the needs of brokers to streamline transactions in the commercial real estate industry. The company continues to deliver on its commitment to providing a quality online Marketplace and creating powerful, broker-centric tools on its Web site. "It is critically important that the broker can use technology and use the power of the Internet without losing control of the transaction," said John Stanfill, president and chief executive officer of PropertyFirst.com Inc. "Just one example of this is our BuyerMatch(TM) feature, which matches listings with buyers criteria from our accurate Buyers Database." Steven Mazure, investment properties broker, Commercial Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Co., located in Wilmington, N.C. with $9 million in listings on the system, agreed, "It's great to get a list of legitimate principal buyers without having to contend with other brokers or anyone else showing up on the BuyerMatch list. It enabled me to meet a buyer I was previously unaware of and now I am under contract on two listings with him. This is an example of how PropertyFirst.com is really broadening the whole market and now for the first time a global marketplace is emerging. I can conduct business with more than the people I can just shake hands with." Another key factor for success is the accuracy of the data that PropertyFirst.com maintains. A professional quality assurance staff continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. updates and reviews information, makes PropertyFirst.com a very powerful and effective tool. "I am impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: with the thoroughness and accuracy of the data -- it is clear that you are a quality-oriented company and I appreciate the care you take in segregating principals from brokers," explained Kathleen Howard, senior vice president, ITC ITC (Brit) n abbr (= Independent Television Commission) → Fernseh-Aufsichtsgremium ITC n abbr (BRIT) (= Independent Television Commission) → RealEstate Group, located in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, with listings valued at $52 million on the system. PropertyFirst.com also provides the latest technology that is very user friendly. "It is vital that our superior technology is combined with ease of use. We understand the needs of the brokerage community and have designed the system to eliminate confusion and frustration, in order to speed the transaction process," said Tom Sanchez, senior vice president and CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. at PropertyFirst.com Inc. "It is easy to click through your site to do what I want quickly. I can make changes myself or your listings department can complete them for me the same day. I also like that all the listings are from brokers and there is not any bogus bo·gus adj. Counterfeit or fake; not genuine: bogus money; bogus tasks. [From obsolete bogus, a device for making counterfeit money. information that I continuously find on other systems," said Robert A. Carlton of Collins Commercial located in Newport Beach Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif. who has three listings valued at $23.9 million on the system. About PropertyFirst.com Inc. PropertyFirst.com, the fastest growing online marketplace in the commercial real estate industry, focuses on high quality information that speeds transactions for its 26 member firms and over 550 brokerage firms using the system. Launched in June 1999, PropertyFirst.com brings together brokers, brokerage firms, buyers, sellers, landlords and tenants to present and review comprehensive information on commercial property listings for sale and for lease. (See Note 1) PropertyFirst.com Inc. was founded in 1998 by industry veterans who recognized the Internet's power to unite the fragmented frag·ment n. 1. A small part broken off or detached. 2. An incomplete or isolated portion; a bit: overheard fragments of their conversation; extant fragments of an old manuscript. 3. commercial real estate industry. The privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. located in Alhambra, receives funding from some of the nation's leading investors, including Brentwood Venture Capital, Kennedy-Wilson, GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Commercial Mortgage and CalPERS. For more information on PropertyFirst.com Inc. or to register, please visit www.propertyfirst.com. (Note 1) For Lease available early 2000 |
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