RE FormsNet announces acquisition of REBT

Published: May 9, 2007

<p dir="ltr"><span lang="en-us"><font face="Arial" size="2"></font></span></p><p dir="ltr"><span lang="en-us"><font face="Arial" size="2">Producers of ZipForm®/WINForms® and RELAY™ software join forces to solidify leadership position in real estate industry</font></span></p><p dir="ltr" align="justify"><span lang="en-us"></span><span lang="en-us"></span></p><p dir="ltr"><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">LOS ANGELES (May</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">8</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">) – RE FormsNet (REFN), the producer of ZipForm® and WINForms® electronic forms software for the real estate industry, today announced its acquisition of Real Estate Business Technologies LLC (REBT), the purveyor of RELAY™ transaction management software. The acquisition was characterized</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">by industry leaders</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">as the next logical step in the</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">ongoing</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">transition from paper-based to online real estate transactions for the real estate industry.</font></span></p><p dir="ltr"><span lang="en-us"><font face="Arial" size="2">“The acquisition of REBT by RE FormsNet will enable us to take advantage of the economies of scale inherent in ope</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">rating the two companies as one</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> and will further accelerate meaningful synergies as we move forward,” said</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">REFN</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> Chairman Robert Bailey. “With the company’s large customer base in the electronic forms arena,</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">REFN</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> is now well positioned to translate its</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">standing</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> as an industry leader to the transaction management sphere with RELAY™.”</font></span></p><p dir="ltr"><span lang="en-us"><font face="Arial" size="2">With the addition of REBT, RE FormsNet will have nearly 60 employees, with operations based in Detroit and development, training and implementation at its Los Angeles headquarters. The merger was effective March 31.</font></span><span lang="en-us"></span><span lang="en-us"> </span></p><p dir="ltr"><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">&quot;Adding RELAY™ to our suite of REALTOR®-centric products allows us to enhance our focus on our key objective of keeping the REALTOR® at the center of the transaction,&quot; said RE FormsNet President Joel Singer. “Chief Operating Officer Lisa Mihelcich will continue to manage the day-to-day operations of the company as part of her expanded role in the operation, while Josh Sharfman will continue in his key role as RELAY™ product manager and chief technology officer for the combined company.</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">”</font></span><span lang="en-us"></span><span lang="en-us"></span></p><p dir="ltr"><span lang="en-us"></span><span lang="en-us"></span></p><p dir="ltr"><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">ZipForm®</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">supports more real estate professionals than any other real estate software in the industry.</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">State REALTOR®</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> associations</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">frequently</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">license ZipForm</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">®</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"></font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">electronic forms software</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">and include it as a</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">part of their membership dues. </font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">Nationwide, there are more than 473,000 users of the desktop</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">and online versions of ZipForm®</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> software.</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"></font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">WINForms®</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> is the California-specific version of the software.</font></span><span lang="en-us"></span><span lang="en-us"></span></p><p dir="ltr"><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">ZipForm®</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">enables REALTOR® associations to provide their members with the tools to simplify the real estate contract process and decrease unnecessary paperwork. Associations providing RELAY™ significantly step up these benefits with a seamless, compatible transaction management platform complete with marketing tools, risk management, vendor access, checklists, buyer and seller satisfaction feedback</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">,</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> and more. </font></span></p><p dir="ltr"><span lang="en-us"></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">The ZipForm® flagship product is available in two versions, ZipForm®Desktop and ZipForm®Online. ZipForm®Desktop and its locally created transactions resides on a laptop or desktop computer. ZipForm®Online gives real estate professionals the flexibility to securely access real estate forms and edit transactions from multiple locations via the Internet. The ZipForm® solutions also provide special utilities for brokers, allowing seamless management of transactions and forms as well as the ability to generate reports at the agent, office, and corporate levels.</font></span></p><p dir="ltr"><span lang="en-us"><font face="Arial" size="2">ZipForm®</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">Online</font></span><span lang="en-us"><i></i></span><span lang="en-us"><i><font face="Arial" size="2"></font></i></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">also offers one-click integration with the RELAY™ transaction management system, providing a complete set of tools to help real estate professionals attract buyers and sellers.</font></span></p><p dir="ltr"><span lang="en-us"></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">Hailed by industry leaders as a mission critical enhancement to the services provided by REALTORS® to home buyers and sellers, RELAY™ has maintained a rapid schedule of advancements in quality features development since its launch in 2005.</font></span></p><p dir="ltr"><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">RE FormsNet (REFN), the creator of ZipForm</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">®</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">, is a REALTOR Benefits</font></span><span lang="en-us"></span><span lang="en-us"><sup><font face="Arial" size="2">SM</font></sup></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> partner and the Exclusive and Official Forms Software of the NATIONAL ASSOCIATION OF REALTORS</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">®</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">. ZipForm</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">®</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> is available to more than 1,055,000 REALTOR</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">®</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> members in the U.S. REFN is a subsidiary of Real Estate Business Services</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">,</font></span><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2"> Inc.</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">(REBS)</font></span><span lang="en-us"></span><span lang="en-us"> <font face="Arial" size="2">and is a joint venture between REBS and the NATIONAL ASSOCIATION OF REALTORS® (NAR).</font></span></p><p dir="ltr"><span lang="en-us"></span><span lang="en-us"></span></p><p dir="ltr"><span lang="en-us"><font face="Arial" size="2">Real Estate Business Services Inc. (REBS) is a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) and the leading provider of real estate products and services to practitioners in California.</font></span></p><p dir="ltr"><span lang="en-us"><font face="Arial" size="2">Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (</font></span><span lang="en-us"></span><a title="file://www.car.org" href="file://www.car.org/"><span lang="en-us" title="file://www.car.org"></span><span lang="en-us" title="file://www.car.org"><u title="file://www.car.org"><font title="file://www.car.org" face="Arial" color="#0000ff" size="2">www.car.org</font></u></span><span lang="en-us" title="file://www.car.org"></span></a><span lang="en-us"></span><span lang="en-us"><font face="Arial" size="2">) is one of the largest state trade organizations in the United States, with nearly 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.</font></span></p>


Last modified: May 9, 2007 at 8:13 am | Originally published: May 9, 2007 at 8:13 am
Printed: September 26, 2020