Complexities of Home Closing Transactions Now Simplified Through Homebytes.com.Business Editors/High Tech Writers RICHMOND, Va.--(BUSINESS WIRE)--Sept. 6, 2000 Homebytes--LandAmerica alliance brings OneStop(TM) real estate services to network of quality services Homebytes.com(R), which is redefining residential real estate transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). through e-commerce, has forged a strategic alliance with LandAmerica OneStop(TM)--a national powerhouse within the real estate information services See Information Systems. industry. Together, they are enabling homebytes.com clients to obtain LandAmerica OneStop's(TM) escrow and closing services directly through homebytes' growing network of home-selling affiliates. Homebytes.com is the first on-line real estate company to offer the LandAmerica OneStop(TM) suite of services to its clients. LandAmerica OneStop(TM) is a subsidiary of LandAmerica Financial Group LandAmerica Financial Group, Inc. (NYSE: LFG) is the third largest title insurance group in the US. It was incorporated in 1991 and is headquartered in Glen Allen, Virginia. , Inc. (NYSE NYSE See: New York Stock Exchange : LFG LFG Landfill Gas LFG Lincoln Financial Group (insurance & financial planning company) LFG Looking For Group (Everquest) LFG Lexical-Functional Grammar (computational linguistics) ), headquartered in Richmond, VA. Homebytes is the first non-franchised real estate firm in history to be licensed in all 50 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Through its nationwide licensing, proprietary technology, and the centralization of its real estate operations and client services, homebytes is able to list its clients' properties on the industry's primary marketing tool, the Multiple Listing Service (MLS See multilevel security. ), for $499--a fraction of the cost of traditional listing commissions. Homebytes' alternative to the traditional home selling process will be enhanced by the addition of the LandAmerica OneStop(TM) alliance. Homebytes will ultimately offer a full suite of home sale services--encompassing the entire listing-to-closing process. "This is a tremendous partnership that will translate into immediate benefits to our home-selling clients," said David Clark David Clark or Dave Clark can refer to different people:
"The LandAmerica OneStop(TM) services currently offered represent the first phase of a growing partnership that will expand to include additional real estate services." Homebytes' clients will now be able to purchase both closing and escrow services directly from LandAmerica OneStop(TM), through the homebytes Web site, by fax or phone. They will be guided by their personal homebytes licensed real estate professional to the LandAmerica OneStop(TM) network of affiliates closest to the client's location. From listing to closing, homebytes' clients will be able to monitor and manage their home sale through their personal homebytes homepage. The LandAmerica OneStop(TM) services will be uploaded onto each personal homepage so clients can monitor each service's status. "This is an exceptional partnership that benefits LandAmerica, homebytes, and most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , the consumer," said Jeffrey Vaughan, president of LandAmerica OneStop(TM). "We look forward to a long and successful relationship with homebytes.com and its customers." ABOUT HOMEBYTES.COM Homebytes.com, which is redefining residential real estate transaction costs through e-commerce, is the first and only firm licensed to conduct residential real estate brokerage business in all 50 states and the District of Columbia. Established in 1998, homebytes.com is an Internet-based, licensed real estate company dedicated to educating and assisting consumers who are selling their home. For a $499 fixed fee, homebytes.com gives homeowners the selling tools they need, including pricing assistance, local MLS and Internet exposure, and a personal licensed real estate professional for guidance through the entire home sale transaction. Privately held, homebytes.com has formed venture capital partnerships with FBR FBR Friedman, Billings, Ramsey Group, Inc. (investment firm) FBR Fast Breeder Reactor FBR Federal Benefit Rate FBR Foundation for Biomedical Research FBR Foundation for Blood Research FBR Fluidized Bed Reactor Technology Venture Partners, Grotech Capital Group and Monument Capital Partners. Homebytes is located on the World Wide Web at http:\\www.homebytes.com . ABOUT LANDAMERICA FINANCIAL GROUP, INC. LandAmerica Financial Group, Inc. ( http:\\www.landam.com ) is a premier provider of title insurance and a broad range of real estate-related services. LandAmerica, through its underwriter subsidiaries, Commonwealth Land Title Insurance Company, Lawyers Title Insurance Corporation, and Transition Title Insurance Company, services it residential and commercial customers with more than 600 offices and 8,000 agents throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, and the Caribbean. LandAmerica OneStop(TM), a subsidiary of LandAmerica Financial Group, Inc., offers a full range of residential real estate services accessed via a single contact, either by phone, fax, or electronic connection. |
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