HomeSeekers.com Wins Bid to Provide New Internet Multiple Listing Services in Northern California.Business Editors RENO, Nev.--(BUSINESS WIRE)--May 22, 2000 5,500 North Bay Real Estate Professionals To Benefit from New Technology HomeSeekers.com (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : HMSK) announced today the signing of a new multi-year technology agreement utilizing its leading XMLSweb(R) product with a major MLS See multilevel security. organization in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern - Bay Area Rea Estate Information Services See Information Systems. , Inc. (BAREIS BAREIS Bay Area Real Estate Information Services, Inc ) serving Marin, Sonoma, Napa, and Solano counties. Approximately 5,500 real estate professionals will benefit from the new HomeSeekers.com XMLSweb(R) and related HomeSeekers products that allow them to serve home buyers and sellers more effectively by utilizing technology to increase home sales and simplify processes related to real estate transactions and information. The development work will begin immediately with some agents utilizing the new system as early as September 2000. A complete conversion is slated for May 2001, completely replacing the MLS system currently in use. "Our technology solutions are sweeping the nation's community of real estate professionals who find our products to be superior time and time again. We believe that our open system XMLSweb(R) technology best suits their needs and is being recognized as the solution of choice in terms of speed, flexibility and cost," said HomeSeekers.com CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Greg Costley. "HomeSeekers.com XMLSweb(R) is earning its reputation as the best technology in the industry and is attracting the savvy and most forward thinking real estate professionals," said Ira Luntz, President of HomeSeekers.com's XMLSweb(R) business line. "We have committed a great deal of resources and effort into developing new XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. , XSL (eXtensible Stylesheet Language) A standard from the W3C for describing a style sheet for XML documents. It is the XML counterpart to the Cascading Style Sheets (CSS) in HTML and is compatible with CSS2. and ASP technologies for the real estate industry and the effort is beginning to pay off," continued Luntz. BAREIS' research and development committee spent the past year researching web-based systems and viewing demonstrations from nine different companies before deciding on the XMLSweb(R) technology provided by HomeSeekers. "We were most impressed by the ease of use, Windows compatibility, and the significant number of work steps eliminated through a well thought-out search and report process," states BAREIS chairman of the board George Gallegos. Since BAREIS made the decision to enter into negotiations with HomeSeekers, a series of demonstrations have been made throughout the region. "Agents and brokers have reviewed the system and greatly anticipate the conversion," notes BAREIS President and CEO Jim Branscombe, "We look forward to making a smooth transition, since a large portion of our members are already familiar with using web-based technology." About HomeSeekers.com, Incorporated HomeSeekers.com, Incorporated is a leading provider of technology to the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and International real estate industries. The company provides technology solutions and services targeted to brokers, agents, Multiple Listing Services (MLS), builders, consumers and others involved in the real estate industry. Product and services offerings can be viewed at the company's primary website, http://www.homeseekers.com. This press release contains various forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 regarding future results of operations and market opportunities that are based on HomeSeekers.com's current expectations, assumptions, estimates and projections about the company and its industry. Investors are cautioned that actual results could differ materially from those anticipated by the forward-looking statements as a result of the success of HomeSeekers.com's branding and consumer awareness campaign and other marketing efforts; competition from existing and potential competitors; and HomeSeekers.com's ability to continue to develop and integrate new products, services and technologies. These factors, along with other potential risks and uncertainties are discussed in HomeSeekers.com's reports and other documents filed with the Securities and Exchange Commission. |
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