MarketLinx provides online auction solution

by THE WAV GROUP on February 1, 2010

MarketLinx, Inc.,  provider of information technology to the residential real estate industry and a member of The First American Corporation (NYSE: FAF) family of companies, announced today that it has partnered with RealtyBid.com to offer an integrated online real estate auction tool to its MLXchangeTM, TEMPO® and InnoViaTM multiple listing service (MLS) customers.  Through the agreement, MarketLinx MLS users can easily upload listing data and photos to RealtyBid.com and start an online auction with just a few mouse clicks.

“Foreclosures and bank-owned sales are a big part of today’s real estate market,” said Ben Graboske, chief executive officer of MarketLinx.  “Online real estate auctions have gained wide acceptance in recent years and are especially effective when working with motivated sellers. By integrating RealtyBid.com with our MLS systems, we help our customers succeed in these unique conditions.”

RealtyBid.com provides an eBay®-style auction service that features live, competitive bidding and a system called BidAssistTM for automatically making incremental bids up to a predetermined maximum.  With more than 25,000 properties sold and closed, RealtyBid.com is the leading online auction service to work exclusively with licensed real estate agents and brokers.  For-sale-by-owner properties are not allowed.

“Unlike other services, RealtyBid.com keeps REALTORS® at the center of the transaction,” said Graboske.  “Listing agents control the auction process from end to end and retain their normal commission.  RealtyBid.com is simply another great tool that extends the power of our MLS systems to help real estate professionals sell more homes faster.”

For more information on RealtyBid.com, MarketLinx MLS customers should contact their regional account manager.  For information on MarketLinx’s full suite of real estate information technology solutions and services, visit www.marketlinx.com.
About MarketLinx®

MarketLinx, Inc., a subsidiary of The First American Corporation, offers a full range of products and support services to address the information technology needs of the real estate brokerage and multiple listing service (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 provides North America’s leading MLS and real estate software systems, including solutions for broker business management, agent productivity, and MLS data aggregation and distribution. For more information, visit www.marketlinx.com.

About First American
The First American Corporation is a FORTUNE 500® company that traces its history to 1889. With revenues of approximately $6.2 billion in 2008, it 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, Information and Outsourcing Solutions, Data and Analytic Solutions, and Risk Mitigation and Business Solutions. More information about the company and an archive of its press releases can be found at www.firstam.com.

About RealtyBid.com
RealtyBid.com was founded in 2001 by two veterans of the real estate business, CEO/President Tony Isbell and Executive Vice President Mike Keracher.RealtyBid.com specializes in the expedited sale of real estate through its innovative online bidding platform. RealtyBid.com hosts auctions for several classes of real estate, including residential properties, bank-owned properties, condominiums, commercial assets, luxury properties and international properties.  As a pioneer of Internet real estate sales, RealtyBid.com has established itself as one of the most cutting-edge companies within the real estate industry. With support from its highly trained staff, the company utilizes technology to make real estate transactions less cumbersome and more cost effective for all parties. It is the vision and desire of the management of RealtyBid.com to continue to provide a vast number of investment opportunities to real estate buyers nationwide while positioning itself as an integral sales option for builders, developers, real estate associates and banks looking to sell properties in an accelerated timeframe.
 
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

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