Another well known MLS vendor is merging into another high-tech Internet company, hoping the combined partnership will allow sales associates to take consumers from the kitchen table to the Internet in one, seamless transaction.

Announced yesterday (Nov. 8) was an agreement between long-established MLS vendor RISCO, headquartered in Lenexa, Kan., and iProperty.com, in Internet startup based in Indianapolis, Ind.

The deal comes only a few months after the acquisition of the nation's No. 1 MLS vendor, Moore Data Management Systems, by another Internet startup company - VistaInfo.com.

RISCO is widely considered to be the fourth largest of the MLS vendors, behind Moore, Interealty (now part of GEAC) and GTE.

Historically, RISCO has provided affordable, lower-tech multiple listing systems to small and rural Realtor boards around the country. The company currently claims to represent some 250 Realtor boards with only some 50,000 sales associates.

Whether the combination is RISCO and iProperty, VistaInfo and Moore, Interrealty and GEAC, or even stand alone HomeSeekers.com (which emerged from the old NDS Software company) the target is the same: To capture the computer desktop of the sales associate.

Vendors hope to provide to brokers and sales associates everything from the contact software, office management systems, Web authoring programs and, of course, Internet services all in one fully integrated package. In theory, at least, the hope is that once the sales associate and broker become become accustom to using the fully integrated package, they will be loath to give it up for another conglomerate's package.

Says a corporate statement from the RISCO/iProperty venture, the combination "will focus on developing Web-based solutions aimed at streamlining each step of the real estate transaction. iProperty.com's tools link consumers, (real estate brokers), the lender and closing service providers in a common workspace.

Adds iProperty.com CEO Doug Dayhoff, "This merger takes advantage of both company's strengths. RISCO is an undisputed leader in providing quality software and services to MLSs, and over the past two years, has significantly grown its client base, while maintaining an impressive renewal rate of more than 97 percent of its customers. iProperty.com has a keen understanding of Internet technology and a vision to integrate the real estate transaction from listing to close."

Under terms of the agreement, RISCO founders Warren Koeller and Garry Wright will continue in their current capacities as RISCO's chairman and chief executive officer, respectively. Dayhoff will serve as CEO of the corporate parent, iProperty.com.

The corporate statement suggested the merged companies will not consolidate operations, but will increase the number of RISCO employees in Lenexa, as well as the number of iProperty.com employees in Bloomington.

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Published: November 9, 1999

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