Appraisal Institute Offers Members Special Access to PropertyFirst's Database of Commercial Properties for Sale and Lease

New, Members-Only Benefit Will Help Appraisers Develop

Comparables Faster, More Efficiently



Apr 02, 2001, 01:00 ET from The Appraisal Institute from ,PropertyFirst.com

    CHICAGO, April 2 /PRNewswire/ -- The Appraisal Institute announced today
 that it is providing its more than 18,000 members with special access to the
 PropertyFirst.com database of commercial properties for sale and lease.
 PropertyFirst, which is developing the Appraisal Institute Commercial
 Database, provides technology, marketing and information services that make
 the Web work for commercial real estate professionals.
     Among other things, the new information resource allows Appraisal
 Institute members to obtain the asking prices of commercial properties in real
 time, helping them develop comparables faster, easier and more efficiently.
 The PropertyFirst marketplace currently includes 11,300 properties for sale,
 with a consideration value of $40 billion, and 13,100 spaces for lease.
     Appraisal Institute members can access this information through the
 "Members Only" section of the Appraisal Institute website,
 www.appraisalinstitute.org, i.e., for-sale property information is available
 now; for-lease information is coming soon.
     "This is an exciting opportunity to provide our members access to
 significant marketplace data," said Brian A. Glanville, MAI, Appraisal
 Institute President.  "PropertyFirst is recognized as a leader in commercial
 property information.  Having immediate access to its resources will be a
 great benefit to our members."
     PropertyFirst is also currently developing the Appraisal Institute
 Commercial Database, the first-ever national online databank of
 appraiser-verified commercial property sale, lease, and income and expense
 information, and a full suite of complementary products and services for
 commercial property appraisers.  With this system, appraisers will have access
 to more and better information in less time and at a lower cost than they do
 now; they'll also enjoy exclusive access to comparable leads.
     "Part of the goal of our exclusive arrangement with the Appraisal
 Institute is to provide its members with as many useful tools and services as
 we can, to help them achieve greater success and complete their assignments
 faster," said Tom G. Sanchez, General Manager, Appraisal Information Services
 Division, PropertyFirst.
     The Appraisal Institute's special access to the PropertyFirst property
 database is made possible by PropertyFirst's Private Label System, a powerful
 search engine and information management system that allows companies to
 market their properties on their own websites.
 
     About the Appraisal Institute
     Today, and throughout its nearly 70-year history, the Appraisal Institute
 is the leading organization for professional real estate appraisers.  Through
 its extensive educational programs, the Appraisal Institute's more than
 18,000 members in more than 100 chapters are skilled in the up-to-date methods
 of real estate valuation for commercial and/or residential properties.
 Reflecting their unbiased and objective approach to real property appraisal
 and analysis, members of the Appraisal Institute adhere to a strictly enforced
 Code of Professional Ethics and Standards of Professional Appraisal Practice.
 The Appraisal Institute currently confers the prestigious MAI and SRA
 designations.
 
     About PropertyFirst
     PropertyFirst, which recently announced its merger with LoopNet, Inc.,
 provides technology, marketing and information services that make the Web work
 for commercial real estate professionals.  The company helps over 2,000 firms
 and 29,000 users market commercial real estate, manage property information
 and workflow, create property websites and connect with each other across the
 Internet.  PropertyFirst clients are leading commercial real estate owners,
 brokers, investors and service providers; they rely on the company's platform,
 marketplace and services to accelerate transactions, reduce transaction and
 marketing costs, increase efficiencies and opportunities, increase business
 volume and expand their reach.
     Based in Alhambra, Calif., in Los Angeles County, PropertyFirst has
 strategic alliances with the Appraisal Institute and MortgageRamp.com, and
 client relationships with firms such as CB Richard Ellis, Cushman & Wakefield,
 AMB Property Corp., RREEF, The CORE Network and Transwestern Commercial
 Services.
 
 

SOURCE The Appraisal Institute; PropertyFirst.com
    CHICAGO, April 2 /PRNewswire/ -- The Appraisal Institute announced today
 that it is providing its more than 18,000 members with special access to the
 PropertyFirst.com database of commercial properties for sale and lease.
 PropertyFirst, which is developing the Appraisal Institute Commercial
 Database, provides technology, marketing and information services that make
 the Web work for commercial real estate professionals.
     Among other things, the new information resource allows Appraisal
 Institute members to obtain the asking prices of commercial properties in real
 time, helping them develop comparables faster, easier and more efficiently.
 The PropertyFirst marketplace currently includes 11,300 properties for sale,
 with a consideration value of $40 billion, and 13,100 spaces for lease.
     Appraisal Institute members can access this information through the
 "Members Only" section of the Appraisal Institute website,
 www.appraisalinstitute.org, i.e., for-sale property information is available
 now; for-lease information is coming soon.
     "This is an exciting opportunity to provide our members access to
 significant marketplace data," said Brian A. Glanville, MAI, Appraisal
 Institute President.  "PropertyFirst is recognized as a leader in commercial
 property information.  Having immediate access to its resources will be a
 great benefit to our members."
     PropertyFirst is also currently developing the Appraisal Institute
 Commercial Database, the first-ever national online databank of
 appraiser-verified commercial property sale, lease, and income and expense
 information, and a full suite of complementary products and services for
 commercial property appraisers.  With this system, appraisers will have access
 to more and better information in less time and at a lower cost than they do
 now; they'll also enjoy exclusive access to comparable leads.
     "Part of the goal of our exclusive arrangement with the Appraisal
 Institute is to provide its members with as many useful tools and services as
 we can, to help them achieve greater success and complete their assignments
 faster," said Tom G. Sanchez, General Manager, Appraisal Information Services
 Division, PropertyFirst.
     The Appraisal Institute's special access to the PropertyFirst property
 database is made possible by PropertyFirst's Private Label System, a powerful
 search engine and information management system that allows companies to
 market their properties on their own websites.
 
     About the Appraisal Institute
     Today, and throughout its nearly 70-year history, the Appraisal Institute
 is the leading organization for professional real estate appraisers.  Through
 its extensive educational programs, the Appraisal Institute's more than
 18,000 members in more than 100 chapters are skilled in the up-to-date methods
 of real estate valuation for commercial and/or residential properties.
 Reflecting their unbiased and objective approach to real property appraisal
 and analysis, members of the Appraisal Institute adhere to a strictly enforced
 Code of Professional Ethics and Standards of Professional Appraisal Practice.
 The Appraisal Institute currently confers the prestigious MAI and SRA
 designations.
 
     About PropertyFirst
     PropertyFirst, which recently announced its merger with LoopNet, Inc.,
 provides technology, marketing and information services that make the Web work
 for commercial real estate professionals.  The company helps over 2,000 firms
 and 29,000 users market commercial real estate, manage property information
 and workflow, create property websites and connect with each other across the
 Internet.  PropertyFirst clients are leading commercial real estate owners,
 brokers, investors and service providers; they rely on the company's platform,
 marketplace and services to accelerate transactions, reduce transaction and
 marketing costs, increase efficiencies and opportunities, increase business
 volume and expand their reach.
     Based in Alhambra, Calif., in Los Angeles County, PropertyFirst has
 strategic alliances with the Appraisal Institute and MortgageRamp.com, and
 client relationships with firms such as CB Richard Ellis, Cushman & Wakefield,
 AMB Property Corp., RREEF, The CORE Network and Transwestern Commercial
 Services.
 
 SOURCE  The Appraisal Institute; PropertyFirst.com