SAN FRANCISCO, July 17 /PRNewswire-FirstCall/ -- LoopNet, Inc. (NASDAQ:LOOP), which operates the largest online commercial real estate marketplace, and ONCOR International, a global commercial real estate network and subsidiary of Realogy Corporation, today announced the signing of a worldwide LoopLink service agreement. The agreement allows ONCOR International to integrate LoopNet's market-leading LoopLink property search technology into the ONCORIntl.com website, enabling ONCOR(R) members to better promote their commercial property listings from over 220 markets in 32 countries around the world.
"We are excited that ONCOR International has selected LoopNet's LoopLink technology to exclusively power the property listings on the ONCOR International website. ONCOR International has an impressive global network with major commercial real estate firms in more than 30 countries worldwide," said Thomas Byrne, LoopNet's Chief Marketing Officer. "LoopNet has a strong relationship with many ONCOR member firms, particularly in North America. We look forward to building upon and establishing new relationships throughout the ONCOR network. The ONCOR member firms are true leaders in their respective markets." The agreement complements existing LoopLink service agreements that LoopNet has with several ONCOR(R) member firms and provides ONCOR International with aggregate reporting of key listing metrics, enhanced property marketing and listing distribution for listings in the LoopNet.com marketplace.
"We look forward to leveraging LoopLink technology across our global footprint," said Paul VanDevender, ONCOR International Managing Director. "We expect the efficiencies and scalability of LoopNet's technology will be of significant benefit to our global organization. With this service, ONCOR International members can have a consistent online property profile that can be updated in real-time across a variety of online channels including ONCORIntl.com and LoopNet.com." The LoopNet marketplace, available at http://www.loopnet.com/, covers all commercial property categories, including office, industrial, retail, multifamily (apartment properties for sale), hotel, land, specialty properties, and businesses for sale. As of March 31, 2007, LoopNet had more than two million registered members, and the LoopNet marketplace featured more than 475,000 commercial real estate listings, including more than $405 billion of property available for sale and 3.2 billion square feet of space for lease. According to comScore Media Metrix, LoopNet is the most heavily trafficked commercial real estate website, with nearly 880,000 monthly unique visitors in the first quarter of 2007.
About LoopNet LoopNet, Inc. is the leading online marketplace for commercial real estate and businesses for sale in the United States. Our online marketplace enables commercial real estate agents, working on behalf of property owners and landlords, to list properties for sale or for lease by submitting detailed property listing information in order to find a buyer or tenant. Commercial real estate brokers, agents, buyers and tenants use the LoopNet online marketplace to search for available property listings that meet their commercial real estate criteria. By connecting the sources of commercial real estate supply and demand in an efficient manner, LoopNet enables commercial real estate participants to initiate and complete more transactions more cost-effectively than through other means. LoopNet also delivers technology and information services to commercial real estate organizations to manage their online listing presence and optimize property marketing.
LoopNet also owns and operates BizBuySell.com, the largest and most heavily trafficked online exchange for businesses for sale in North America, with more business listings, users and search activity than any other website. BizBuySell also has the largest database of sale comparables for recently sold businesses.
About ONCOR International ONCOR International is a global commercial real estate network. A subsidiary of Realogy Corporation, ONCOR is composed of 50 independent commercial real estate member brokerages that employ more than 1,824 individual sales associates working from over 170 offices in 32 countries. Collectively, members were responsible for approximately $31 billion in commercial real estate sales volume in 2006. ONCOR specialists provide commercial corporate services for clients through affiliated offices covering over 220 global markets on six continents. Core competencies of ONCOR members include: office, industrial and retail leasing, investment sales for both institutional and private investors, asset and property management, corporate services, tenant representation, financial services, facilities management and development services.
Forward-Looking Statements This release contains forward-looking statements regarding LoopNet's online commercial marketplace, our customers, our strategic alliances, the continuing adoption of the Internet to market and search for commercial real estate and the value we provide to our members. These statements are based on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results might differ materially from those in any forward-looking statement due to various factors, including, but not limited to, economic events or trends in the commercial real estate market or in general, our ability to continue to attract new registered members, convert them into Premium Members and retain such Premium Members, our ability to receive timely and accurate sales data from our partners, seasonality, our ability to manage our growth, our ability to introduce new or upgraded products or services and customer acceptance of such services, our ability to obtain or retain listings from commercial real estate brokers, agents and property owners, and competition from current or future companies. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward-looking statement is contained in our filings with the Securities and Exchange Commission ("SEC"). Copies of filings made by us with the SEC are available on the SEC's website or at http://investor.loopnet.com/sec.cfm. LoopNet does not intend to update the forward-looking statements included in this press release that are based on information available to us as of the date of this release. DATASOURCE: LoopNet, Inc.
CONTACT: Cary Brazeman of LoopNet, Inc., +1-310-205-3590, ; or Giorgio Bentrovato of ONCOR International, +1-973-407-7732, Web site: http://www.loopnet.com/
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