to Build on Product Suites

Leading real estate Web portal
Thursday announced plans to add a new eCommerce auction module to its
consumer and business-to-business product suites.

The auction service, scheduled for a nationwide rollout in the first
quarter of 2000, will be placed in the consumer portal and the
real estate professional product suite, which will allow the company’s
network of 65,000 agents and brokers to immediately offer online
homeauction services directly to consumers.

Individual property listings will be flagged with auction information, and
will also be available on a designated Home Auction section of the site.
Agents and brokers will have multiple auction types and services from which
to choose for selling property, including: English auctions, sealed bids,
and open auctions.

“This new service is all about using the power of the Web to deliver a real
estate experience of unprecedented
convenience, not just for buyers and sellers, but for agents and brokers as
well,” said Bob Prince, chief executive officer and president.

“The online home auction allows all parties to get maximum value out of the
transaction, and allows buyers the opportunity to make their bid heard no matter where they may be.”

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