Monday, February 2, 1998 3:46 pm Pacific Time
Company Press Release
Picket Fence Preview and Mortgage Originator Announce Strategic Alliance
BURLINGTON, VT-- (REUTERS)--February 2, 1998 -- Picket Fence Preview,
Inc., an integrated for sale by owner real estate company and Mortgage
Originator, a diversified educational and marketing company for mortgage
brokers, bankers and professional, today announced a partnership to formally
promote for sale by owner real estate in a joint venture.
The featured articles of the February 1998 issue of Mortgage Originator
Magazine concentrate on for sale by owner real estate and how mortgage lending
institutions across the nation are lining up to court the private homeseller
and their buyer. "There is a real paradigm shift in the marketplace,
with more and more people choosing to sell their homes by themselves,"
said Chris Salazar, publisher of Mortgage Originator. "The old business
model of lenders courting real estate agents is changing, now that the agents
are fading from the picture," he added.
Through the Picket Fence Homeseller's Kit private homesellers have the
necessary and sufficient tools to attract and secure a buyer for their property.
"Picket Fence has developed a unique product that provides the advertising,
educational and support material the average homeseller needs to sell a
home," said Kyle Pearson, vice president of product development at
Mortgage Originator. The kit is based on the Picket Fence Homeselling System
TM that has been tested and proven effective for private homesellers in
select Northeast markets. "The provision of both local and national
advertising (through the internet) in this integrated kit covers most of
the advertising bases," he added.
"We're excited about the prospect of allying the for-sale-by-owner
real estate movement with the goals of mortgage banking," said William
F. Supple, Jr., Ph. D., president of Picket Fence. "Mortgage bankers
and brokers are on the front lines of real estate transactions everyday,
importantly they see which deals that go to completion and those that don't.
FSBO transaction are more likely to close because both the buyer and seller
are saving money. This translates into a higher rate of loan closure and
less risk for the lender," he added. As to why the new interest by
mortgage bankers and brokers in for sale by owner transactions, Supple answered,
"By focussing on FSBO transactions a mortgage professional can provide
a hedge against the deal falling through and be more certain of actually
getting compensated."
Picket Fence Preview Corporation is a diversified for sale by owner real
estate sales and publishing company which, through various wholly owned
subsidiaries, is involved periodical publishing, book publishing, mortgage
brokerage and franchise business development in the United States.
Statements herein may be identified as forward-looking for purposes of
safe harbor provisions under Section 21E of the SEC Act of 1934. Such statements
relating to the Company's future business are subject to risks and uncertainties
that could cause actual results to differ materially from those statements,
and other risks and factors.
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Contact:
W.F. Supple, Jr., Ph. D., 802/660-3167
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