E*TRADE Announces Launch of Co-Branded Real Estate Service With Owners.com
MENLO PARK, Calif., July 7 /PRNewswire/ -- E*TRADE Group Inc. (Nasdaq: EGRP) and Owners.com today announced the launch of a co-branded by-owner real estate service accessed through the E*TRADE Mortgage Center at www.etrade.com. The co-branded web pages are the result of an agreement between the two companies to provide E*TRADE customers and members with access to Owners.com's by-owner home marketing services, including its national database of homes for sale by-owner, online classifieds and several features that enable homeowners to evaluate and manage the transaction process.
Through the co-branded service, consumers can review every major step of the home buying and selling process, providing tools and services ranging from customized yard signs and mortgage services to home pricing reports (comps) and insurance. The Owners.com "My Desktop" feature enables users to manage the transaction process from their own personalized home page on the Owners.com web site.
"E*TRADE has created one of the strongest online brand names by continually invigorating the Destination E*TRADE web site with value-added features that enable individual investors to take greater control of their personal finances," said Jerry Gramaglia, chief marketing officer of E*TRADE. "The buying and selling of a home is one of the largest financial decisions a person can make, and we believe the new co-branded service with Owners.com will facilitate that process."
Owners.com, America's largest by-owner real estate service, intends to do for the real estate industry what E*TRADE has done for the online investing industry -- empower individuals to take greater control of their financial futures. Owners.com is moving the real estate industry to the next level by enabling families to take control of the purchase or sale of their home, saving an average of $10,000 in realtor commissions.
"Summertime is one of the hottest times of the year for the buying and selling of homes and, consequently, the time when homeowners need the most help," said Hans Koch, chairman and chief executive officer of Owners.com. "By collaborating with E*TRADE on this co-branded service, we'll be able to educate thousands of consumers on the intricacies of the transaction process. Just as E*TRADE empowers the individual investor, Owners.com empowers the homeowner."
About E*TRADE
E*TRADE, a global leader in online personal financial services, has emerged as the world's most-visited online investing site. The content-rich Destination E*TRADE web site offers value-added investing and research features, premium customer service and a fully redundant, proprietary Stateless ArchitectureSM infrastructure. E*TRADE intends to expand its global positioning by launching branded web sites in the top 20 financial markets worldwide.
In recognition of its innovation and industry leadership, E*TRADE was ranked the best online brokerage by Gomez Advisors (Summer 1999) and Lafferty Information and Research Group (4Q98, 1Q99). E*TRADE also was the first securities and financial services company to be awarded the WebTrust seal of assurance by the American Institute of Certified Public Accountants (AICPA).
E*TRADE is committed to providing the most comprehensive financial services experience on the Internet, as demonstrated by its acquisition of Clearstation.com, a community-based financial analysis site, as well as strategic investments in E*OFFERING, a full-service online investment bank, and Archipelago, a leading Electronic Communications Network (ECN). E*TRADE also is positioned to become the first pure-play e-commerce company in the financial services sector -- combining online banking and brokerage services -- through a definitive merger agreement with Telebanc, the nation's leading branchless bank. It is anticipated that the Telebanc merger will close this fall.
E*TRADE Securities Inc. (Member NASD/SIPC), and its parent company, E*TRADE Group Inc., are headquartered in Menlo Park, Calif.
About Owners.com
Owners.com (formerly Abele Owners' Network) was introduced in May 1996 as the first national "by owner" real estate service. Owners.com has marketed more than 200,000 residential properties in all 50 states on its online service. Among the Owners.com's awards, the site was named "the best for-sale-by-owner network" by the Wall Street Journal. It also was featured as one of PC Magazine's "Top 100 Web Sites" [8/97, 11/97, 3/98] and was recognized as a Snap.com Editor's Choice Site.
Owners.com has developed marketing and content partnerships with companies such as Yahoo!, E-LOAN, CityAuction [a subsidiary of Ticketmaster Online-CitySearch Inc.], iOwn, Countrywide Home Loans, American Home Shield, Vista E/Risk, InsWeb, Loanworks [a service of IndyMac Mortgage Holdings], iCreditReport.com, National School Reporting Service and others to offer powerful transaction and marketing support for homeowners selling their homes by owner. Owners.com Inc. is a privately held company with headquarters in San Francisco, Calif.
The Owners.com logo is a service mark of Owners.com Inc. Owners.com and Abele Owners' Network are trademarks of Owners.com Inc.
Important Notice
E*TRADE is a registered trademark of the company. All other trademarks are properties of their respective owners. The statements contained in this news release that are forward-looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include, but are not limited to, changes in market activity, market acceptance of the new E*TRADE destination web site, anticipated increases in the rate of new customer acquisition, the conversion of new visitors to the site to customers, seasonality, the development of new products and services, the enhancement of existing products and services, competitive pressures (including price competition), system failures or interruptions, economic and political conditions, changes in consumer behavior and the introduction of competing products having technological and/or other advantages. Further information about these risks and uncertainties can be found in the information included in the annual report filed by the Company with the SEC on Form 10-K (including information under the caption "Risk Factors") and quarterly reports on Form 10-Q.
CONTACT: Tim Alban of E*TRADE, 650-331-5865, or talban@etrade.com; Greg Xenakis of Neale-May & Partners, 650-328-5555, ext. 142, or gxenakis@nealemay.com, for E*TRADE; or Hans Koch of Owners.com, 415-427-1000, ext. 104, or pr@owners.com
SOURCE E*TRADE Group Inc.
CO: E*TRADE Group Inc.; Owners.com
ST: California
IN: MLM FIN RLT
SU: PDT JVN
07/07/99 08:25 EDT prnewswire.com |
