Realtors group to expand national online service

Real Estate Watch

September 01, 1996

The National Association of Realtors will expand a national online service in which buyers, sellers and licensed brokers and agents can tap into information on the industry and properties for sale.

The NAR board of directors voted last week to create the system.

The Internet-based system will replace a desktop format initially developed for NAR members by an NAR corporate subsidiary, the Realtors Information Network. The system also expands the existing Web site now available to the public.

The board approved a proposal to license an outside partner to manage, promote and expand the Web site. The national association and the Realtors network had jointly developed the site, accessible at http: //www.realtor.com.

The site had not been profitable enough to pay for itself, said Almon R. "Bud" Smith, acting president and chief executive officer of the Realtors Information Network.

"It was clear we needed a partner who could bring technological expertise, marketing skill and cash resources to bear and put the project back on course," Smith said.

The enhanced Web site will offer property advertisements with photos and links to real estate agents.

The nonpublic portion, to be called the "Intranet" system, will give NAR members information about financing and communities.

"Members could pull together information they could then provide their customers," said Jeff Lubar, NAR spokesman.

Pub Date: 9/01/96

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