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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (102196)	5/3/2000 9:27:00 AM
From: puborectalis	Respond to of 108040

Homestore.com, Inc. Takes Another Step Toward Automation of Real Estate Transactions with Acquisition of WyldFyre Technologies WyldFyre's Suite of Products Increases Productivity for Real Estate Professionals THOUSAND OAKS, Calif., May 3 /PRNewswire/ -- Homestore.com, Inc. (Nasdaq: HOMS - news), the largest home and real estate network on the Internet, today announced that the company has acquired WyldFyre Technologies, Inc., a leading developer of technology solutions for real estate professionals to access multiple listing service (MLS) information via the Internet. The acquisition significantly strengthens Homestore.com's(TM) product offerings for real estate professionals, and is another step in the company's strategy to fully automate the real estate transaction process with innovative Internet-based solutions and emerging wireless technologies. Homestore.com issued approximately 589,000 shares of common stock in connection with the acquisition. WyldFyre's existing products are used by more than 100,000 real estate professionals in the United States, Canada and Australia, and in more than 200 real estate associations located throughout North America. ``The ability to conduct real estate transactions via the Internet offers enormous potential for the industry and this is only one of many steps that we are taking to make online transactions a reality,'' said Stuart Wolff, chairman and chief executive officer of Homestore.com, Inc. ``Through the WyldFyre suite of products, we are giving real estate agents the ability to leverage the power of the Internet to quickly, easily and efficiently increase productivity and earning power.'' Real Estate Automation Transaction Platform Currently in development at WyldFyre is RealtyLink(TM), a product that provides real estate professionals with a unified view into the property closing process. RealtyLink includes a detailed calendar that gives real estate professionals the ability to track both buyers and sellers through the close of escrow, making it easy to determine what steps remain in the closing process. RealtyLink also provides a secure web-based statusing tool to help consumers get real-time information on their transaction. RealtyLink, which is in beta testing currently in Northern California, also facilitates ordering of title documents, loan documents and other materials. By integrating all the steps of the closing process, each party will have an accurate audit trail.