ESRI and RIN Collaborate to Transform the Way Homes Are Bought and Sold.

REDLANDS, Calif.--(BUSINESS WIRE)--Nov. 10, 1995--A new software application will soon make it possible for a buyer to walk into a local real estate agent's office, tell the agent what kind of home in what kind of neighborhood he is looking for, and instantly receive a map of homes that fit those criteria.

REALTORS Information Network (RIN), Washington, D.C., a subsidiary of the NATIONAL ASSOCIATION OF REALTORS, and ESRI, Redlands, California, are developing this nationwide application, called GeoData. GeoData will dramatically change the way residential property is bought and sold.

Using GeoData, an agent selects the desired town and appropriate criteria for the house, such as a price range and proximity to good schools and transportation. A map is then created showing just those properties that fit those requirements. A list of the properties and pertinent details will also be shown, such as number of bedrooms and bathrooms and other features of each property. The agent can add or omit criteria at any time.

GeoData will cut much of the time and guesswork that goes into the process of finding the right home, whether the buyer is moving across the country or across town.

"This is an invaluable business and competitive tool for real estate agents and brokers," says Cathy Hartke, director of product marketing and operations for RIN. "For practicing real estate agents and brokers, having access to mapping functions will aid their selling efforts by giving the buyer a better, visual idea of properties that meet their criteria before they drive all over town to see them."

GeoData is made up of two parts: national coverage of real estate demographic and environmental data and easy-to-use software for querying and mapping of these data. The software is a customized version of ESRI's ArcView geographic information system (GIS) software, which will allow real estate agents to access a central server holding information on more than 80 million properties throughout the country. ESRI's Spatial Database Engine (SDE) software will be used to store and manage the vast amount of data involved. "This is the first nationwide GIS application being built specifically for the real estate industry on more than a regional scale," says Steve Trammell, real estate vertical marketing manager for ESRI.

Data include streets, demographics, school information, crime statistics, parcel-level data, environmental data, and other data. The data will be supplied by Geographic Data Technology, Inc., of Lyme, New Hampshire, and Taconic Data Corp., White Plains, New York. Specific data about many properties will be provided by more than 320 multiple listing services (MLSs) that have signed up to the service and together represent more than 80 percent of the real estate transactions in the country.

GeoData is a service, and real estate agents will be charged for each transaction. The ArcView software interface has been designed to make it as easy as possible for real estate agents not familiar with GIS technology to use the system. The software is stored on the central server and will appear as a menu item on the agent's computer.

"I'm very excited about participating in this relationship because RIN has taken a significant technological jump that will provide its members with productivity tools that will enhance the way the real estate industry operates," says Jack Dangermond, president of ESRI.

"GeoData will give agents the capability to combine their market area knowledge with a vast amount of resources from GeoData to be more effective in gaining and serving clients," says Hartke.

GeoData is being tested in the metropolitan Denver area. These tests will be followed by testing in New Jersey and select cities in Texas. GeoData will be available nationwide in the first quarter of 1996.

About RIN

The mission of RIN is to develop a secure, central repository for real estate information and transactions across the World Wide Web and other on-line services. GeoData is one part to an on-line network, also called REALTORS Information Network, being developed by RIN.

It is ultimately the company's goal to provide a one-stop shopping on-line service for the real estate industry that includes GeoData along with the RIN Mall, from which agents can buy office automation tools and other tools, and a place for users to download all needed forms (such as disclosure forms) to complete a transaction.

About ESRI

Founded in 1969 as a research group devoted to improving methods of handling geographic data, ESRI has dedicated its resources to developing the leading desktop mapping and GIS technology and services for public, private, and educational organizations. Thousands of organizations around the world now use ESRI software and services. ESRI's ultimate goal is to provide users with a system that will help them accomplish tasks faster, easier, and better than by using any other system.

Note to Editors: REALTOR is a registered trademark and REALTORS Information Network is a trademark of the NATIONAL ASSOCIATION OF REALTORS. ESRI and ArcView are registered trademarks; Spatial Database Engine (SDE) and the ESRI globe logo are trademarks; and esri.com is a service mark of ESRI. Other companies or products mentioned herein are trademarks or registered trademarks of their respective trademark owners. ArcView uses Neuron Data's Open Interface.

CONTACT: RIN

Iverson Moore, 202-383-1290 (press only)

[e-mail]

or

ESRI

Lisa Backman, 909-793-2853, ext. 2160

[e-mail]