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Friday, February 29, 2008

Digital Map Products Helps LoopNet Incorporate Parcel Data; Users Now Get Enhanced Online Information About Properties

Digital Map Products (DMP) today announced that LoopNet, Inc. (NASDAQ: LOOP), which operates the largest online commercial real estate marketplace, has chosen DMP’s ParcelStream™ web service to incorporate parcel data into the LoopNet.com platform. LoopNet customers can now view property boundary lines – a critical piece of information for anyone researching real estate online in all market areas where the parcel data is available.

Online users demanding more sophisticated tools

As the online real estate market matures, online users are demanding advanced features that allow them to gain a more complete picture of the property, according to Jim Skurzynski, president and founder of DMP.

“Incorporating parcel data and parcel-level geocoding into an online map is the perfect complement to satellite and aerial photography because it allows users to see the size, depth and shape of a property. Accurate parcel data is especially important in commercial property deals, which may cover multiple parcels that are impossible to distinguish from just an aerial image,” said Skurzynski.

“Think of it this way, a buyer wouldn’t purchase a major commercial property without walking around the property, seeing how close it is to neighboring properties, roads, power lines, and amenities or without verifying how many structures are included. So why would they want to use an online research tool that didn’t allow them to see the precise property boundaries?”

ParcelStream enhances LoopNet service by making online research more effective

The incorporation of ParcelStream™ allows LoopNet members to more quickly, affordably and effectively evaluate parcel boundaries within its online marketplace. Because Digital Map Products provides parcel geocoding and parcel line display in a convenient API, LoopNet was freed from the time-consuming task of researching, acquiring, processing and displaying parcel data.

DMP has been aggregating parcel data for more than ten years and created the first public-private partnership for parcel data sharing.

Digital Map Products is the leading firm in aggregating parcel data and displaying it in the most efficient manner. We are excited to extend this benefit to our LoopNet members and thus enhance their search and discovery process,” said Mike Manning, LoopNet’s Vice President of Marketing. “ParcelStream has been integrated seamlessly into LoopNet’s existing mapping solution suite and now provides an indispensable research tool for our 2.5 million LoopNet members.”

Digital Map Products offers free trial of ParcelStream™ API

In order to help its potential customers understand the value of parcel lines and parcellevel geocoded locations, Digital Map Products is offering web developers the opportunity to use its API for a free trial. This simple API allows real estate sites to instantly display parcel lines, geocode addresses to tie parcel data to an accurate and precise location, and provide interactivity to parcel data. It also allows users to query by assessor parcel number (APN), federal information processing standard (FIPS) or street address to pinpoint the exact location of the property.

Information about ParcelStream™ is available at www.parcelstream.com. A free trial of the ParcelStream™ API is available at http://trial.parcelstream.com/.

Press Release - Digital Map Products
2007 Digital Map Products