Announces Recent Photo Licensing Deal
CALGARY, Oct. 18 /CNW/ - Zaio Corporation (TSX-V: ZAO) announced today
that it has surpassed its previously announced goal of taking 100,000 property
photos per day. Over the past work week, Zaio took approximately
503,000 photos for an average of just over 100,000 photos per day. With new
photographers being trained every week, Zaio anticipates continued growth in
its property photo production.
Zaio is in the process of photographing, inspecting, and appraising
nearly every property in the USA's 250 largest metropolitan areas, which
represents about 85% of the US population. To date, Zaio has accumulated a
database of approximately 140 million property records and 10.5 million
Thomas Beverly, VP of National Photography Operations explained: "Zaio's
photo activities are different from companies that utilize vehicles or
satellites as we are the only known firm that checks every photo to ensure the
privacy of property owners is protected. We have a centralized photo Quality
Control process that rejects photos containing people, license plate numbers,
or other personal identifiers. Finally, Zaio's photos, property data, and
official appraisals prepared by licensed appraisers are stored in a secure
database accessible only by lenders, realtors, insurance companies, and others
with a legitimate business need for that information."
Mr. Beverly added: "Zaio photographers take a high quality, properly
framed image of the home from the street and confirm the address. A second
person, who is a licensed appraiser, also visits each photographed property to
reconfirm the correct photo is matched to the correct address. The appraisers
then collect updated property data regarding each building. Our photographers
are also available to realtors, multi-listing services boards and others to
conduct interior photos and virtual tours when needed to help market homes
that are for sale. Zaio is the largest company in the nation that we know of
that offers those services."
Brad Stinson, Founder of Zaio, stated: "It is important to have a
business model that financially supports the periodic re-taking of photos
every time a property changes to enable up-to-date appraisal information. From
the appraiser inspections, we find in excess of 50% of all property data is
either outdated or inaccurate. Zaio is the only company that we know of in the
USA that partners with licensed real estate appraisers to track all known
changes that occur in their local markets on a daily basis. Our proprietary,
patent-pending photography and data collection process allows us to possess
corrected property data, verified address, a high-quality photograph, and the
ability to constantly update this information as properties change."
Diane Nelligan, National Director of Business Development for Zaio,
announced the Company's most recent photo licensing deal, "Although Zaio
already has dozens of photography related agreements with realtors and
multi-listing services boards across the nation, Zaio's recently signed photo
License Agreement with PropertyShark.com represents a milestone in our
business strategies to expand the usefulness of these photos into other
business applications. PropertyShark.com is a web-based company that provides
real estate data and information to subscribers. Under this Agreement,
PropertyShark.com (www.PropertyShark.com) has the ability to access, utilize
and sell Zaio photos to its subscribers."
Ryan Slack, CEO of PropertyShark.com said: "Our subscribers are
interested in accessing the most current and up to date real estate
information as possible through our website and we are pleased to offer our
subscribers current photos supplied by Zaio."
Zaio is the North American leader in developing and maintaining a
site-verified database of photos, valuations and property information of
virtually every property for entire cities, using a proprietary "GeoScore"
property rating system. Zaio and its network of premiere, local appraiser
experts photograph and appraise entire cities, one building at a time from the
Zaio is a public corporation that trades under the symbol "ZAO" on the
TSX-V Exchange in Canada. Additional information is available for US investors
under the symbol "ZAOFF".
For investors who would like to be added to Zaio's investor distribution
list, please contact Collum Hunter at email@example.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements which may include
financial and business prospects, as well as statements regarding the
Company's future plans, objectives or economic performance and financial
outlooks, including without limitation, a forecast on expected annual
revenues. Such statements are subject to risk factors associated with the real
estate industry, and the overall economy in both Canada and the United States.
The Company believes that the expectations reflected in this press release are
reasonable, but actual results may be affected by a variety of variables and
may be materially different from the results or events predicted in the
forward-looking statements. Readers are therefore cautioned not to place undue
reliance on these forward-looking statements.
In evaluating forward-looking statements readers should consider the risk
factors which could cause actual results or events to differ materially from
those indicated by such forward-looking statements. These forward-looking
statements are made as of the date hereof, and unless otherwise required by
applicable securities laws, the Company does not intend nor does it undertake
any obligation to update or revise any forward-looking statements to reflect
subsequent information, events, results or circumstances or otherwise.
For further information:
For further information: For more company information, visit
www.zaio.com or please contact: Thomas J. Inserra, President and CEO, (480)
575-5111; Rodney D. Mitton, CFO, (403) 802-2033