Newspaper article THE JOURNAL RECORD

CID Offers Special Incentives for Information Exchange Program

Newspaper article THE JOURNAL RECORD

CID Offers Special Incentives for Information Exchange Program

Article excerpt

In order to boost interest and usage of the new Commercial Information Exchange (CIE) database, the Greater Oklahoma City Association of Realtors Commercial Industrial Division (CID) will wave all initiation fees and monthly user fees for the system through June 30, 2000.

Joan Hunter, 1999 CID chairperson, said that in order for the database to work, it will require a substantial number of local brokers posting their listings on the system.

"We are just trying to put this system in people's laps and it will probably take at least a year to get the system up to the point we would like for it to be," she said. Under this yearlong promotion, members of the CID will be enabled to have access to both sides of the database. The private side gives access to current listing information on sales and leases of commercial properties combined with the ongoing development of a sales comps database for sold and leased commercial properties. The public side of the system offers public records information from eight metro counties. The only cost which will be incurred for the CIE will be for the cost of the software which ranges, according to Hunter, from $80 to $500. "In order to make it even easier for CIE users we allowing the software costs to be paid out in three monthly installments," added Hunter. The CIE is only available to members of the CID. In order to encourage new membership, the organization is eliminating the one- time $250 principal broker membership fee for all broker and appraiser applicants through June 1999. "We are making it as easy as possible for people to join at this time," noted Hunter. Dream mortgage Bank One and Bank One Mortgage have launched a product for first- time home buyers who may not qualify under traditional home mortgage plans. The program, entitled the Bank One Affordable Dream Mortgage, is designed for the buyer who may not have a lot of "on-hand cash" or may not meet lender qualifications. The 15- or 30-year fixed-rate mortgage offers the security of a fixed monthly payment combined with a low down-payment. In addition, the program does not require private mortgage insurance. …

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