NEWS RELEASE Progress Update for the US Market – RE: Zone Data Systems LLC TSX Venture Exchange Symbol: ZAO May 14, 2010 CALGARY, AB
Zaio Corporation will now be providing regular updates on Zone Data Systems LLC’s development and delivery of the first appraiser-backed valuation database for the United States.
Zone Data Systems, LLC (ZDS) announced the completion of its Full Membership enrollment on April 15, 2010. The tally stands at 233 Partners, who own appraisal businesses in 25 states, operating in 32 of the top 40 MSA’s in the USA. The Partners employ over 500 certified appraisers in those markets and are currently providing a full range of traditional appraisal products to the financial community.
ZDS LLC was formed in May 2009 to conclude an agreement with Zaio Corporation to develop and deliver the industry’s first dynamic, appraiser based valuation database for the USA. This database is backed by independent, local appraiser research completed by each of the Partners in their various jurisdictions. To the best of our knowledge ZDS is the only appraisal organization that requires its members to conduct detailed market value research on homes in advance of the appraisal order.
ZDS is 100 percent owned by American appraisal business owners who have licensed software rights from Zaio Corporation to build, maintain and deliver the database within their assigned Zones. ZDS is releasing this week the latest full version of valuation research software for populating the database in each of the Partner Zones. Plans are to begin delivering the new database driven appraisal service by midsummer 2010.
ZDS employs Zaio Corporation’s patent pending Valytics software and the unique Geoscore technology to organize key data on all properties within a market, attach cardinal rankings to seven key value attributes for each property, and analyze sales data within that market segment to arrive at accurate value estimates for every property in the market. This whole-market analysis is reviewed continually as new sales and listings occur in the market and value estimates are adjusted and balanced as necessary.
"By continually updating the research and analysis on all properties in advance, ZDS is able to offer superior market research with unbiased independence and near real-time response. All reports are fully USPAP compliant. Valuation database products and services are called Z Products. Z products will offer prompt online access directly into the database for direct LOS interface, a Portfolio Viewer web application for tracking the value of every home within any portfolios and standard appraisal reports which can be delivered in both PDF and MISMO format. Valuation research is being conducted regularly and in advance of any order for virtually every residential dwelling."
Margaret Lai, Chair of the ZDS Marketing Committee and owner of Abacus Appraisal Services, Inc. in Redmond, Washington, states “Scores of ZDS Partners have been working the past year on various projects necessary to bring these unique appraisal products to market. We are excited that the time is drawing near for full implementation.”
About Zaio: Zaio develops and maintains a site-verified database of photos, valuations and property information on virtually every residential property in entire cities, using a proprietary “GeoScore™” property rating system. Zaio licenses its technology to networks of premiere, local appraiser experts who can then appraise and monitor values across entire cities, one home at a time from the street. The Company’s products are available in the United States through its Licensee, Zone Data Systems LLC. Zaio is a public company that trades under the symbol "ZAO" on the TSX Venture Exchange in Canada. Zaio shares are also available in the US under the trading symbol “ZAOFF”. For more company information, visit corporate.zaio.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information, please contact: Zaio Corporation Bradley Stinson, CEO, (877) 318 0537, Rodney Mitton, CFO, (877) 318 0537 or Ken Verrett, Managing Partner, Zone Data Systems LLC, [email protected]
Stone Communication Services Limited Brian Edelstein, Managing Director, (800) 336 -9528, [email protected]
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