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For Immediate Release
RE FormsNet Announces Acquisition of REBT
Producers of ZipForm® and RELAY™ software join forces to solidify leadership position in real estate industry
Los Angeles - May 8, 2007 - RE FormsNet (REFN), the producer of ZipForm® and WINForms® electronic forms software for the real estate industry, today announced its acquisition of Real Estate Business Technologies LLC (REBT), the purveyor of RELAY™ transaction management software. The acquisition was characterized by industry leaders as the next logical step in the ongoing transition from paper-based to online real estate transactions for the real estate industry.
"The acquisition of REBT by RE FormsNet will enable us to take advantage of the economies of scale inherent in operating the two companies as one and will further accelerate meaningful synergies as we move forward," said REFN Chairman Robert Bailey. "With the company's large customer base in the electronic forms arena, REFN is now well positioned to translate its standing as an industry leader to the transaction management sphere with RELAY™."
With the addition of REBT, RE FormsNet will have nearly 60 employees, with operations based in Detroit and development, training and implementation at its Los Angeles headquarters. The merger was effective March 31.
"Adding RELAY™ to our suite of REALTOR®-centric products allows us to enhance our focus on our key objective of keeping the REALTOR® at the center of the transaction," said RE FormsNet President Joel Singer. "Chief Operating Officer Lisa Mihelcich will continue to manage the day-to-day operations of the company as part of her expanded role in the operation, while Josh Sharfman will continue in his key role as RELAY™ product manager and chief technology officer for the combined company."
ZipForm® supports more real estate professionals than any other real estate software in the industry. State REALTOR® associations frequently license ZipForm® electronic forms software and include it as a part of their membership dues. Nationwide, there are more than 473,000 users of the desktop and online versions of ZipForm® software. WINForms® is the California-specific version of the software.
ZipForm® enables REALTOR® associations to provide their members with the tools to simplify the real estate contract process and decrease unnecessary paperwork. Associations providing RELAY™ significantly step up these benefits with a seamless, compatible transaction management platform complete with marketing tools, risk management, vendor access, checklists, buyer and seller satisfaction feedback, and more.
The ZipForm® flagship product is available in two versions, ZipForm®Desktop and ZipForm®Online. ZipForm®Desktop and its locally created transactions resides on a laptop or desktop computer. ZipForm®Online gives real estate professionals the flexibility to securely access real estate forms and edit transactions from multiple locations via the Internet. The ZipForm® solutions also provide special utilities for brokers, allowing seamless management of transactions and forms as well as the ability to generate reports at the agent, office, and corporate levels.
ZipForm®Online also offers one-click integration with the RELAY™ transaction management system, providing a complete set of tools to help real estate professionals attract buyers and sellers.
Hailed by industry leaders as a mission critical enhancement to the services provided by REALTORS® to home buyers and sellers, RELAY™ has maintained a rapid schedule of advancements in quality features development since its launch in 2005.
RE FormsNet (REFN), the creator of ZipForm®, is a REALTOR BenefitsSM partner and the Exclusive and Official Forms Software of the NATIONAL ASSOCIATION OF REALTORS®. ZipForm® is available to more than 1,055,000 REALTOR® members in the U.S. REFN is a subsidiary of Real Estate Business Services, Inc. (REBS) and is a joint venture between REBS and the NATIONAL ASSOCIATION OF REALTORS® (NAR).
The NATIONAL ASSOCIATION OF REALTORS®, "The Voice for Real Estate," is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
Real Estate Business Services Inc. (REBS) is a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) and the leading provider of real estate products and services to practitioners in California.
Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with nearly 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
Media contact:
Mark Giberson (213) 739-8304
E-mail: markg@car.org
For more information on zipLogix’s solutions for today’s real estate industry or to discuss partnership opportunities, contact Wendy Waldrep at 888.318.2660 x130 or Email.
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