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NEW HOME SEARCH SYSTEMS ACQUISITON STRENGTHENS REALSELECT

RealSelect Inc., operator of REALTOR.COM, the nation's number one real estate site on the Internet with over 1.2 million listings, has acquired New Home Search Systems (NHSS), operator of NewHomeSearch.com, the premier site specializing in newly constructed homes.

The acquisition is a key link in RealSelect's strategy and previously announced partnership with the National Association of Home Builders (NAHB) to jointly develop a dedicated new homes Internet site. The new site, HOMEBUILDER.COM, will be designed to facilitate and simplify the new home buying process and will feature newly constructed homes and other products and services of builders and remodelers.

The move by RealSelect to work with NAHB, acquire NHSS and create HOMEBUILDER.COM, reinforces the company's position as the online real estate industry's dominant player. HOMEBUILDER.COM will feature NewHomeSearch.com's technology and expand its home builder subscriber base of over 7,000 members, which generates a database of over 100,000 homes.

These category-leading assets, combined with NAHB's ability to help its 800 state and local affiliates and their 195,000 member firms move online, complement RealSelect's experience and ability to drive traffic. RealSelect has significant traffic/distribution alliances with six of the top seven Web portals, including AOL, Yahoo (through NHSS), Excite, Netscape Netcenter, Infoseek, and Lycos.

"This is a terrific opportunity for NAHB and its affiliates, builders, real estate agents and consumers," said Stuart Wolff, CEO and chairman of RealSelect Inc. "By combining a strong trade organization like NAHB, with a proven technology and service from NHSS, and RealSelect's knowledge and traffic-driving capabilities, we will create an instant winner in HOMEBUILDER.COM."

NHSS, based in Dallas, collects information on builders' available homes, models and plan inventories. The data includes images of actual floor plans and elevations of homes in over 50 U.S. markets. The information is currently made available to consumers through NewHomeSearch.com and to real estate professionals through print publications and proprietary databases.

"NHSS is the only company to successfully collect and update this type of data on a national basis," said R. Fred White Jr., president and founder of New Home Search Systems. "Nationally, builders have never had the benefit of a system like ours and now through HOMEBUILDER.COM, with NAHB's network and RealSelect's know-how and traffic partners, we can extend our reach to benefit consumers, builders, and real estate professionals everywhere."

"HOMEBUILDER.COM is going to be a tremendous vehicle for our industry," said Charlie Ruma, first vice president of the National Association of Home Builders. "Consumers are rushing to the Internet and a Web site like HOMEBUILDER.COM gives us the ability to offer our members the potential to meet the online needs of people looking to buy a newly built home or remodel their current one," added Ruma.

About RealSelect

RealSelect Inc., located in Westlake Village, Calif. is the leading online real estate information and tools provider. RealSelect operates REALTOR.COM, the official Internet site of the National Association of Realtors, which features existing and new home listings and real estate agent and broker services. RealSelect also operates HOMEBUILDER.COM, the official new home listing Internet site of the National Association of Home Builders, which is focussed on new homes, lots and plans and builder and remodeler services.
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Publication:Online Product News
Article Type:Article
Geographic Code:1USA
Date:Oct 1, 1998
Words:543
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