Technology Facilitates Home Selling on the Web

Homestore.com Inc. in Thousand Oaks and the National Assn. of Realtors have unveiled the first phase of a new technology that aims to help Realtors sell homes on the Internet.

Called eRealtor.com, the technology will allow brokers to link to title and escrow service providers, as well as to lenders, inspection companies and others, said Homestore.com, which operates several residential real estate Web sites. Analysts have estimated the market’s potential to be $100 billion.

With advances in technology streamlining the home-buying process and threatening to lower commission rates and make brokers obsolete, the technology allows Realtors to maintain usefulness.

“Our platform is designated to keep the broker at the center of the transaction,” said National Assn. of Realtors spokesman Steve Cook.

ERealtor.com promises to let Realtors provide a variety of services, from offering homes for sale to helping arrange closing meetings on the Internet. It also will give users a link to 1.4 million listings from the National Assn. of Realtors’ 760,000 members.

Others collaborating on eRealtor.com include real estate and mortgage units of General Motors Acceptance Corp., Fannie Mae, the California Assn. of Realtors, and Cendant Corp., which franchises the Century 21, Coldwell Banker and ERA real estate brands.