RISMEDIA, May 10, 2007-RE FormsNet (REFN), the producer of ZipForm® and WINForms® electronic forms software for the real estate industry, announced its acquisition of Real Estate Business Technologies LLC (REBT), the purveyor of RELAYTM transaction management software. The acquisition was characterized by industry leaders as the next logical step in the ongoing transition from paper-based to online real estate transactions for the real estate industry.
“The acquisition of REBT by RE FormsNet will enable us to take advantage of the economies of scale inherent in operating the two companies as one and will further accelerate meaningful synergies as we move forward,” said REFN Chairman Robert Bailey. “With the company’s large customer base in the electronic forms arena, REFN is now well positioned to translate its standing as an industry leader to the transaction management sphere with RELAY.”
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.
“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,” 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.”
According to the company, state REALTOR associations frequently license ZipForm electronic forms software and include it as a part of their membership dues. Nationwide, there are more than 473,000 users of the desktop and online versions of ZipForm software. WINForms is the California-specific version of the software.
ZipForm 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, and more.
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 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.
ZipForm®Online 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.