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How to Beat the Market; First Team Real Estate Announces the Launch of Broker Reciprocity

Business Wire, May 29, 2002

Business Editors & Real Estate Writers

COSTA MESA, Calif.--(BUSINESS WIRE)--May 29, 2002

First Team Real Estate Inc., the #1 independently owned real estate company in Southern California, has launched three innovative online tools to help a homebuyer beat out the competition.

Broker Reciprocity, Homefinder, and Instant Scheduler have been demanded by recent focus groups, and First Team Real Estate is giving the tools directly to the consumers. To see the tools in action, visit www.firstteam.com.

In announcing this breakthrough, Cameron Merage, owner and founder of First Team Real Estate, stated: "This is the most significant change to affect the real estate industry since the introduction of the multiple listing service (MLS).

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"This is a win/win situation because consumers will have all the research information they need to find their dream home and agents will have more time to focus on complexities of negotiating the sale and bringing the transaction to a successful close."

Until now, consumers have been forced to desperately search the Web to discover their most affordable dream home. First Team acknowledges this frustration and has seized the solution. This solution is called Broker Reciprocity, and at this time is being offered at www.firstteam.com.

With Broker Reciprocity, Homefinder, and Instant Scheduler consumers are able to search through thousands of property listings on one single Web site.

Broker Reciprocity gives the consumer complete information on every MLS listing by accessing a single broker's site. With Instant Scheduler, consumers can schedule their own appointments for viewing properties at any time online. Homefinder e-mails a home-shopper about a new listing matching their specific criteria, usually before it appears on the Web site.

Since the introduction of Broker Reciprocity, Homefinder and Instant Scheduler, the number of listings featured on the First Team Web site (www.firstteam.com) has gone from an average of nearly 1,000 listings on any given day to an average of 28,000 listings.

The lowest interest rates in 30 years combined with a shortage of homes for sale has sent prices skyrocketing at the rate of 3% per month. Desperate buyers are watching affordability slip through their fingers while they frantically compete for available properties. Homes frequently sell within hours of being listed for sale.

Timing and the most up-to-date information is the key to a successful home purchase. With tools such as Broker Reciprocity, Homefinder, and Instant Scheduler, the frustration of competing for the best price on a home is eliminated.

With more than 25 years of experience, First Team Real Estate is a family-owned company with more than 1,200 professionals in their 21 real estate branches, as well as mortgage banking locations and escrow offices. First Team is the #1 independently owned real estate company in Southern California.

For more information about First Team Real Estate's services, visit www.firstteam.com or phone Marni Hale at 714/557-0771 ext. 116.

Business Services Industry

How to Beat the Market; First Team Real Estate Announces the Launch of Broker Reciprocity

Business Wire, May 29, 2002

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