The Missouri Association of REALTORS® has signed a contract with Immobel.com, April 5, 2006

Missouri Association of REALTORS® takes bold step for fair housing, and equal access to Real Estate market for multi-cultural and international homebuyers.

“The Missouri Association of REALTORS®, representing more than 26,000 REALTORS® statewide has signed a contract with Immobel.com, the top provider of multi language services to REALTOR® organizations worldwide, to translate all Missouri REALTOR® listings into the viewer’s choice of 12 languages in addition to English,” announced Steven Snook, President of the Missouri Association of REALTORS®.

“Prospective homebuyers now have equal access to all current Missouri REALTOR® home listings in Spanish, Brazilian Portuguese, French, Italian, German, Polish, Russian, Chinese (2 varieties), Japanese, Korean and Vietnamese, in addition to English. Listings will be updated daily”, said Janet Choynowski, CEO of Immobel.

According to Harvard University’s Joint Center for Housing Studies, between 2000 and 2010 there will be approximately 11.7 million new households formed, of which 31% will be Hispanic, 13% will be Asian. The “non traditional” homebuyer is now driving the housing market, the Joint Center reported. National Association of REALTORS® (NAR) research reports that direct foreign investment in US Real Estate reached $37.9 billion during 2004, and is estimated to have been even greater during 2005. The greatest foreign investment came from Japan, Latin America and Germany, in order of importance. Foreign investment is made into both residential and commercial property.

“Missouri is the first statewide REALTOR® association to invest in making their real estate listings so widely accessible to all prospective buyers,” said R. Dennis McClelland, Executive VP and CEO of the Missouri Association of REALTORS®. “Missouri REALTORS® will have the opportunity to display the translated listings on their own web sites in IDX format, with the state Association covering the costs.”

“Without translated listings of homes for sale, non-English speaking homebuyers have little access to the specific listings information needed to comparison shop for homes,” Ms. Choynowski said. “71% of all homebuyers use the internet during their initial home buying process (NAR 2005) so the ability for homebuyers to access home listings in their own language is a tremendous economic resource for our state. Missouri is truly open for business in 13 languages,” said Carol van Gorp, CEO of the Columbia, Missouri Board of REALTORS®, who adopted Immobel technology in 2004.

“Immobel entered the REALTOR® services market in 2000 and now serves more than 350,000 REALTORS®. The 12-language MLS and IDX smart frame package that retails to individual REALTORS® for $399 per year can be bulk purchased by REALTOR® organizations for their members at rates that make it an easily affordable service. Small REALTOR® Associations can purchase 12 language translation of their MLS data for as little as $5,000 per year, regardless of who their MLS data provider is, and with no changes to their existing systems.” Ms. Choynowski said.

“Immobel employs professional translators who are native speakers of each language, and does not use “translation engines” which are often inaccurate. Immobel is the only vendor providing this multi language technology to REALTOR® organizations in the United States. Immobel translates both residential and commercial MLS listings.” Ms. Choynowski reported.

Among Immobel REALTOR® organization clients are:

• Metropolitan Regional Information Systems (Greater Washington DC)
• NTREIS (North Texas Real Estate Information Systems)
• Greater Las Vegas Association of REALTORS®
• Multi Regional Multiple Listing Service
• Sarasota Association of REALTORS®
• Louisville Association of REALTORS®