First American Launches Real Estate Technology Company, MarketLinx, Inc.
—Combined Resources of First American MLS Solutions, Offutt Systems, Sonic Eagle and Lucero Offer Best-in-Class Technology to Residential Real Estate Professionals—
January 29, 2007, SANTA ANA, Calif.
The First American Corporation (NYSE: FAF), America’s largest provider of business information, today announced the launch of MarketLinx®, a new company established to effectively address the full range of information technology needs of residential real estate professionals. MarketLinx combines the strengths of First American subsidiaries First American MLS Solutions, Inc.; Offutt Systems; Sonic Eagle, Inc.; and Lucero Research Corporation to provide customizable technology solutions for multiple listing services, brokers and agents through a single entity.
“Our long-term strategy is centered on the development of a complete, online real estate platform that provides an integrated set of components to perform all of the functions that are important in a residential property transaction,” said Stephen C. Roney president and chief executive officer of MarketLinx. “Merging the technology and software assets of these companies into one organization offers ease-of-use for the real estate professional, who can now order several core products and services from one entity rather than multiple providers. The end result is an enterprise solution that offers the same high levels of service, while producing significant efficiencies for our customers.”
MarketLinx offers a full line of technology and support services through systems currently used by more than half a million real estate professionals nationwide. Products and services include the MLXchange, TEMPO™ and InnoVia MLS systems and related association solutions; AgentAchieve™, a Web-based software solution that provides best-in-class broker business management and agent productivity tools; and Lucero Summit residential real estate office management software systems.
“We recognize the importance of providing a clear channel for information technology that provides greater market strength to our many real estate clients,” added Roney. “By offering our real estate technologies and software systems through one company under unified leadership, we are able to capitalize on the strengths of all of the entities and enhance our overall value proposition to our customers. We are committed to leading this market through our unsurpassed dedication to client service and high-quality technology solutions and software systems.”
MarketLinx will operate under the direction of the existing First American MLS Solutions, Offutt Systems, Sonic Eagle and Lucero management teams, led by MarketLinx executive vice presidents Bryan Foreman, Mike Lancaster and Leonard Troutner, all reporting directly to Roney. Foreman will also continue in his role as president of MLS operations.
“MarketLinx offers exceptional growth opportunities given the synergies of the combined business lines and the fact that no other company has managed to successfully pull together the different technology platforms that bridge the entire real estate transaction under a single entity,” said Foreman. “The formation of MarketLinx allows us to continue to support and enhance our platforms, and move toward an end-to-end solution that seamlessly integrates all of the most popular real estate technologies under a single sign-on application.”
MarketLinx, a subsidiary business unit established by The First American Corporation, offers products and support services to address the information technology needs of the real estate brokerage and MLS market segments. The company’s full array of capabilities streamlines the real estate listing, financing and closing processes, resulting in increased efficiency and profitability. MarketLinx products and services include North America’s leading MLS and real estate software systems; the AgentAchieve software suite offering broker business management, agent productivity tools, lead management and MLS data aggregation; and Lucero Summit, the ultimate front- and back-office real estate management system. For more information, visit: www.marketlinx.com.
About The First American Corporation
The First American Corporation (NYSE: FAF), a FORTUNE 500® company that traces its history to 1889, is America’s largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people’s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information, and Risk Mitigation and Business Solutions. With revenues of $8.1 billion in 2005, First American has approximately 2,100 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at www.firstam.com.