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For Immediate Release April 2000

Real Estate Cyberspace Society Releases Briefings From Costar, Gorman and E-Loan


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John M. Peckham, III, Executive Director of the Real Estate CyberSpace Society released excerpts today from the Society's April audio/print member briefing, Real Estate CyberSpace Alert. In three taped interviews, Andy Florance, Greg Gorman and Joe Kennedy address value-adding technology strategies for both commercial and residential real estate professionals.

In the lead interview, Andy Florance, CEO of the CoStar Group, explains how his company has assembled the most comprehensive array of Internet-based information solutions for the commercial real estate industry. He introduces the benefits to brokers of CoStar Property, which can track commercial, office, industrial and flex retail space; CoStar Tenant, their high-end product to track corporate space users; and other products designed to support core commercial functions. CoStar is migrating all of their products and services to the Web in order to support the industry more effectively. "Information solutions over the Web will allow commercial professionals�to really be much smarter and faster about the deals they do," he tells members. As a powerful illustration, he describes CoStar Exchange-the first product in commercial real estate to apply an integrated-solutions approach to commercial deal making.

The second Alert interview features Greg Gorman, speaking as a residential specialist from the trenches who has been successful using Internet strategies. Gorman stresses that the Internet makes it easier and faster to reach a greater number of people to disseminate information about yourself and your property listings. He recommends real estate-specific software for sending e-mail, for managing contacts and for creating virtual tours, and he explains ways to apply the software for maximum productivity. He also provides tips for establishing a successful web site, including how to decide whether to use a cookie-cutter template or a custom design. A technology guru with a thriving real estate business, Gorman recognizes the importance of balance. "Don't be afraid to use technology, but use it to reinforce the basics of good real estate practice," he advises.

The wrap-up member briefing introduces Joe Kennedy, President and COO of E-Loan, a consumer-driven web site with advantages for Realtors. "We believe the consumer-lender process is broken today, and we are focused on improving it," sums up Kennedy. The E-Loan site offers the products of multiple lenders and a consistent, streamlined process that assists the consumer from application to funding. Citing the development of E-Loan's E-Track Pro-which allows Realtors to monitor the status of their clients' loans-Kennedy assures Society members that E-Loan is intended as a lending site for real estate practitioners as much as for borrowers. "E-Loan can be an asset to Realtors as they deal with more Net-savvy clients," he says. The company delivers tools to support the Realtor's quarterbacking role in real estate transactions.

The Real Estate CyberSpace Society provides its members with information on real estate technology issues and strategies, and a networking connection for professionals from all real estate specialties. Peckham announced that over 60 similar interviews are broadcast at the Society's "Real Estate CyberSpace Radio": www.REcyber.com/masters/audio.html. He invited the real estate community and the public to visit and listen to a wide selection of audio briefings there.

Information regarding the full interviews in the April release of The Real Estate CyberSpace Alert or membership in the Real Estate CyberSpace Society is available from Society headquarters by calling 617-523-4441, at www.REcyber.com or by e-mail at admin@recyber.com

For Further information or interviews:

John M. Peckham III
Executive Director
Real Estate CyberSpace Society
Four Longfellow Place, Suite 2408
Boston, MA 02114
Phone: 617-523-4440 Fax: 617-523-4736
E-mail: bostonjack@earthlink.net
Web: www.REcyber.com