North Texas Real Estate Information Systems, Inc.
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North Texas Real Estate Information Systems, Inc.

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North Texas Real Estate Information Systems, Inc. North Texas Real Estate Information Systems, Inc. Presentation Transcript

  • North Texas Real Estate Information Systems, Inc. Town Hall Meeting Revised 6/20/03
  • MLS and Information System Changes
    • Introduction
    • Where we are today?
    • MAESTRO stabilized
    • RE/X does not work properly
    • LMP- 4,000 users
    • Currently Internet access only
    • Network infrastructure under NTREIS management
    • Connectivity issues improved with new NTREIS DNS Servers
    • MAESTRO contract expires December 2003 (product is dead)
    • Rapattoni contract expires mid-2004
    • Rapattoni debugged
  • MLS and Information System Changes
    • What will happen in 2003?
    • MAESTRO will be deactivated
    • RE/Xplorer will be deactivated
    • ListingsManager Pro will become Wyldfyre Listings, and you will have to install an update for the new version to work with the new MLS
    • You will need to attend training for your password to work for the new System
    • Any major system bugs will become evident
    • Reporting bugs will become the norm again
    • Rapattoni will still be an option
  • MLS and Information System Changes
    • Status Report
    • Informed MarketLinx Solutions that we have selected its TEMPO MLS System as our first choice MLS Product
    • MarketLinx participated in Integration meetings with other vendors
    • Contract approved at April 2003 Shareholders’ meeting
    • Informed First American that we have selected its product (formerly known as “Close Your Deal.com” as our first choice Transaction Management
    • Business Model/ Deal Points/ Terms under negotiations
    • They participated in Integration meetings with other vendors
    • Contract approved at June 2003 Shareholders’ meeting
    • Informed Stewart that we have selected its Landata PropertyInfo.com product as our first choice ASP Property Tax System
    • They participated in Integration meetings with other vendors
    • Contract approved at April 2003 Shareholders’ meeting
  • MLS and Information System Changes
    • Rapattoni Update
    • Why do we have Rapattoni?
    • Rapattoni provides a back-up MLS System (when MAESTRO is unavailable)
    • Rapattoni reduces the load on the MAESTRO MLS System creating better performance
    • Average usage of Rapattoni
      • 250,000 logins per month
      • 15,000 prospects/ 8,500 auto-prospecting searches run every 2 hours
      • 25,000 saved searches
      • 4,000 attached documents
      • 100s of framed IDX users
      • 60,000 e-mails generated to clients monthly
      • Based on Usage, Rapattoni has served its purpose well
  • MLS and Information System Changes
    • Rapattoni Update (continued)
    • Rapattoni Issues
    • Before May 1, 2002
      • 198 issues reported to NTREIS
      • 29 issues per month
      • 86 days on average to resolve issues
    • After May 1, 2002
      • 54 issues reported to NTREIS
      • 11 issues per month
      • 21 days on average to resolve issues
    • 3. Next Upgrade 1 st Quarter 2003
  • MLS and Information System Changes
    • What have we learned from the Survey and Focus Groups?
    • 15.9% of NTREIS users responded to the survey (1635)
    • Over 95% of the respondents answered all questions
    • 90% were full-time professionals
    • Almost half of NTREIS users have broadband at home, and 3 out of 4 have broadband at work
    • 90% of users were satisfied with quality of training (in remarks- they asked for more training)
    • Tax Data was ranked as the most important feature- NTREIS will pay close attention to the vendor’s tax data integration
    • Overall ratings were published in the NTREIS newsletter and on the NTREIS web site- “Top MLS Features”
  • MLS and Information System Changes
    • What have we learned from the Survey and Focus Groups? (continued)
    • Most important features in Transaction Management (ranked in descending order of importance )
    • Electronic Forms
    • Property Preview Site
    • Built in messaging/e-mail
    • Integration with MLS
    • Branding to the Office/Agent
    • Document Tracking
    • Service can upload documents into the System
    • Service can fax documents into the System
    • E-mail notification
    • Day at a glance
  • MLS and Information System Changes
    • What have we learned from the Survey and Focus Groups? (continued)
    • The most important back office features (in descending order of importance)
    • Forecasting
    • Office Information
    • Search, View, Assign Referrals
    • Appointment Setting
    • Productivity Reporting
  • MLS and Information System Changes
    • What will we accomplish with Transaction Management?
    • The Vision: To deliver a robust, fully featured Transaction Management Platform that is seamlessly integrated within the NTREIS Platform.
  • MLS and Information System Changes
    • What will we accomplish with Transaction Management?
    • 1. To Establish a Transaction Management platform which accomplishes a market-wide technology infrastructure that provides brokers an open system to adopt that they can brand and choose the settlement service providers which will be included in their customized version of the platform.
    • 2. NTREIS is the first MLS to send out an RFP for TM
    • 4. This application will be an open platform which will allow branding by the brokers, and integration with the systems used by the title companies
    • 5. Business structure to be defined after costs are defined
  • MLS and Information System Changes
    • Key Decision Factors for all Vendors
    • Proven stability
    • No old technology
    • No beta or almost there applications
    • Scalability
    • Match the features and functions we are requesting
    • Initial training
  • MLS and Information System Changes
    • Key Decision Factors for MLS Vendors
    • Real Time shadow system
    • Preservation of current business structure
    • Willingness to integrate into the NTREIS TM System and ASP Tax vendor
    • Willingness to update the NTREIS Master back end database (Repository)
    • Efficient user interface/desktop
  • MLS and Information System Changes
    • Top MLS Features of a New MLS System
    • According to the online survey in August that was available for NTREIS members to participate in, the following chart lists the most desired MLS features of a new MLS System.
    • Custom reports
    • Prospect matching
    • Inventory/statistics
    • Search MLS remarks
    • IDX
    • Ability to e-mail maps
    • Hotsheets
    • Desktop software
    • Exports to MS Office and other 3 rd party platforms
    • Robust CMA
    • Tax data
    • Listing entry
    • History search
    • Upload multiple photographs
    • Search results sortable
    • MLS uses existing e-mail
    • Neighborhood market trends
    • Copy and export photos
  • MLS and Information System Changes
    • Where are we going next?
    • MLS Vendor
    • RFP’s for MLS Vendor sent out and received
    • Finalists selected
    • Finalists’ presentations reviewed
    • Membership evaluations December 2-20 2002
    • Final recommendation submitted to January 2003 BOD Meeting
    • Contract with MarketLinx approved April 9, 2003
    • Transaction Management Vendor
    • RFP’s for TM sent out and received
    • Finalists selected
    • Finalists’ presentations reviewed
    • Recommendation from Future Technology Task Force submitted to January 2003 BOD Meeting
    • Entering contract negotiations with First American
    • Residential Real Estate Group to license their platform, formerly known as Close-Your-Deal.com
    • Approved at Shareholders’ meeting in June 2003
  • MLS and Information System Changes
    • Where are we going next? (continued)
    • Tax Record Vendor
    • Member survey results and focus groups results reviewed to construct RFP’s
    • RFP’s for Tax Vendor sent out and received
    • Final recommendation submitted to January 2003 BOD Meeting
    • Contract with Landata (a Stewart Title Company) approved April 9, 2003
    • Important Features for Tax
    • NTREIS needs to un-bundle the MLS contract from the contract for Tax/Property Record Company
    • New ASP solutions streamline updating-avoiding aggregation
    • ASP solutions provide updated farming tools, as well as additional information databases at your disposal
    • ASP solutions makes adding counties easy
  • MLS and Information System Changes
    • Where are we going next? (continued)
    • ListingsManager Pro
    • Upgrade to latest version of LMPro
    • There will be a CD based update necessary
    • Negotiations with Wyldfyre have concluded and licensing agreement was approved at the Shareholders’ meeting in June 2003
    Since 4,000 REALTORS use LMPro, NTREIS has negotiated with Wyldfyre to keep the product and license it directly from Wyldfyre after the MAESTRO contract expires
  • MLS and Information System Changes
    • Vendor Searches
    • Business approach to future contracts (un-bundled)
    • The MLS Vendor will provide MLS
    • The Tax Vendor will provide property/tax information
    • The Transaction Management Vendor will provide the Transaction Management platform
    • NTREIS will manage the interconnectivity of these applications for multiple vendors
    • MLS Selected Vendor
    • MarketLinx
  • MLS and Information System Changes
    • Why search at all with Rapattoni in place?
    • 10 million dollar decision
    • Insure we have the best solution for the future
    • Rapattoni remains an option
    • It is important to regularly scan these products available in the market place to insure we have the best Technical solution in the DFW area.
    • Rapattoni is not customizable
    • Rapattoni CMA not comparable with other options
    • Rapattoni does not create custom reports
    • Rapattoni exporting is not user friendly
  • MLS and Information System Changes
    • Vendor Searches (continued)
    • Transaction Management Selected Vendor
    • First American
    • There are 200 local employees and training facilities available
    • Tax Selected Vendor
    • Landata
    • On-site employees in the DFW area
    • They already have the data for our tax counties
    • They will also supply us with tax information for additional counties
  • MLS and Information System Changes
    • MLS Vendor Timeline
    • RFP Issue Date September 24, 2002
    • RFP Due Date October 18, 2002
    • Vendor Presentations
    • to NTREIS Committee November, 2002
    • 4. Finalists Selected Before November 27, 2002
    • 5. Lab Tests by NTREIS Users/ December 2-20, 2002
    • Subscribers at the Associations
    • Contract Negotiations Begin January 2003
    • Contract Approval March-April 2003
    • System Design/ Build April-June 2003
    • Member Training/Parallel Run August-October 2003
    • Live Date on New System November 3, 2003
  • MLS and Information System Changes
    • Tax Vendor Timeline
    • Contract Negotiation Begins January 2003
    • Contract Approval March-April 2003
    • System Design/ Build April-June 2003
    • Member Training/Parallel Run August-October 2003
    • Live Date on New System November 3, 2003
  • MLS and Information System Changes
    • Transaction Management Vendor Timeline
    • Contract Negotiations January 2003
    • Contract Approval June 2003
    • System Design/ Build June - July 2003
    • Member Training Implementation August-October 2003
    • Live Date on New System November 3, 2003
  • MLS and Information System Changes
    • Questions and Comments