CALGARY, Dec. 3, 2015 /CNW/ - Zaio Corporation (TSXV: ZAO) (the "Company" or "Zaio") announced today the launch of MarketValue Pro™ (MVP), an appraisal report with the site inspection provided by a real estate agent. MVP provides an alternative to Broker Price Opinions (BPOs) in states where regulations limit the ability of a real estate agent to provide valuation services.
"We've been working with key strategic clients to provide an effective valuation alternative for the nearly two dozen states that restrict real estate agents ability to perform BPOs," said Shane Copeland, Chief Executive Officer of Zaio Corporation. "As the market shifts due to compliance concerns, Valuation Vision is strategically expanding its product offering to displace the estimated $280 million (USD) spent on BPOs in those states."
MarketValue Pro is a USPAP compliant appraisal report, that relies on a comprehensive site inspection performed by an agent or property inspector who follows our workflow system, and then passes that work on to a local licensed or certified appraiser who conducts the value reconciliation using our desktop tools. MVP leverages Valuation Vision's Clarocity™ technology platform to complete a credible report in a fraction of the time and cost of traditional appraisals.
"MVP was designed to allow appraisers to profitably provide fully compliant appraisal report that competes with the growing popularity of broker price opinions," said Ernie Durbin, Chief Valuation Officer of Valuation Vision. "By streamlining the process and adding an easy step-by-step user experience, we've achieved another unique hybrid solution that allows appraisers to rapidly produce credible USPAP compliant appraisal reports that meet our customers needs."
"It is exciting to launch a client-driven product that has pent up orders that will immediately produce revenue," said Bill Mohler, Executive Vice President of Product. "We have a heritage of rapidly providing innovative solutions to market, meeting immediate demand, and this is no exception. From customer inquiry through design and execution, we've leveraged our valuation technology to deliver this product in about a month."
About Zaio Corporation
Zaio Corporation was founded on the simple premise, that current real estate valuation technologies lacked the information necessary to deal with today's dynamic housing market. Zaio is disrupting what was thought possible by building powerful data and technology solutions that leverages the expertise of real estate and appraisal professionals at a massive scale. Every day our GSE, banking, and investor clients rely on our proprietary solutions to fund loans and value assets. At Zaio, our mission is to ensure that our solutions provide businesses and consumers unparalleled insight into their real estate assets. For more information, visit www.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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy and of the securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended the U.S. Securities Act, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act
Certain information in this press release is forward-looking within the meaning of Canadian securities laws as it relates to anticipated events and strategies. When used in this context, words such as will, anticipate, believe, plan, mandated, intend, target, and expect or similar words suggest future outcomes.
Forward-looking information in this press release, includes, among other things, information relating to: projected or profoma revenues which assumes the closing of the Valuation Vision transaction and the Axis transaction which events have not occurred and anticipated growth in customers and sales.
These statements are based on certain assumptions and analyses made by the Company in light of its experience, current conditions and expected future developments and other factors it believes are appropriate. The material factors and assumptions used to develop these forward-looking statements include, but are not limited to: (i) the accuracy of the revenues reported by Valuation Vision and Axis; (ii) the ability of the Company to realize such revenues in the event the Axis transaction is closed and the ability of Zaio to effectively integrate the combined entities; (iii) the ability of the Company to close the Axis transaction.
Readers are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management's current expectations, and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Zaio does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in Zaio's expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
SOURCE Zaio Corporation
For further information: visit www.zaio.com or contact: Shane Copeland, CEO, Zaio Corporation, 760-208-6460, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]