north texas real estate information systems, inc

North Texas Real Estate Information Systems, Inc.

Town Hall Meeting

Revised 6/20/03

MLS and Information System Changes

Introduction

Where we are today?1. MAESTRO stabilized

2. RE/X does not work properly

3. LMP- 4,000 users

4. Currently Internet access only

5. Network infrastructure under NTREIS management

6. Connectivity issues improved with new NTREIS DNS Servers

7. MAESTRO contract expires December 2003 (product is dead)

8. Rapattoni contract expires mid-2004

9. Rapattoni debugged


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 Report1. Informed MarketLinx Solutions that we have selected its TEMPO MLS

System as our first choice MLS Producta) MarketLinx participated in Integration meetings with other vendorsb) Contract approved at April 2003 Shareholders’ meeting

2. Informed First American that we have selected its product (formerly known as “Close Your Deal.com” as our first choice Transaction Management

a) Business Model/ Deal Points/ Terms under negotiationsb) They participated in Integration meetings with other vendorsc) Contract approved at June 2003 Shareholders’ meeting

3. Informed Stewart that we have selected its Landata PropertyInfo.com product as our first choice ASP Property Tax System

a) They participated in Integration meetings with other vendorsb) Contract approved at April 2003 Shareholders’ meeting


Rapattoni Update

Why do we have Rapattoni?1. Rapattoni provides a back-up MLS System (when MAESTRO is unavailable)

2. Rapattoni reduces the load on the MAESTRO MLS System creating better performance

3. 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


Rapattoni Update (continued)

Rapattoni Issues1. Before May 1, 2002

• 198 issues reported to NTREIS

• 29 issues per month

• 86 days on average to resolve issues

2. After May 1, 2002

• 54 issues reported to NTREIS

• 11 issues per month

• 21 days on average to resolve issues

3. Next Upgrade 1st Quarter 2003


What have we learned from the Survey and Focus Groups?1. 15.9% of NTREIS users responded to the survey (1635)

2. Over 95% of the respondents answered all questions

3. 90% were full-time professionals

4. Almost half of NTREIS users have broadband at home, and 3 out of 4 have broadband at work

5. 90% of users were satisfied with quality of training (in remarks- they asked for more training)

6. Tax Data was ranked as the most important feature- NTREIS will pay close attention to the vendor’s tax data integration

7. Overall ratings were published in the NTREIS newsletter and on the NTREIS web site- “Top MLS Features”


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


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


What will we accomplish with Transaction Management? 1. The Vision: To deliver a robust, fully featured Transaction Management

Platform that is seamlessly integrated within the NTREIS Platform.


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


Key Decision Factors for all Vendors1. Proven stability

2. No old technology

3. No beta or almost there applications

4. Scalability

5. Match the features and functions we are requesting

6. Initial training


Key Decision Factors for MLS Vendors1. Real Time shadow system

2. Preservation of current business structure

3. Willingness to integrate into the NTREIS TM System and ASP Tax vendor

4. Willingness to update the NTREIS Master back end database (Repository)

5. Efficient user interface/desktop


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.

1. Robust CMA

2. Tax data

3. Listing entry

4. History search

5. Upload multiple photographs

6. Search results sortable

7. MLS uses existing e-mail

8. Neighborhood market trends

9. Copy and export photos

10. Custom reports

11. Prospect matching

12. Inventory/statistics

13. Search MLS remarks

14. IDX

15. Ability to e-mail maps

16. Hotsheets

17. Desktop software

18. Exports to MS Office and other 3rd party platforms


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


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 Tax1. NTREIS needs to un-bundle the MLS contract from the contract for

Tax/Property Record Company2. New ASP solutions streamline updating-avoiding aggregation3. ASP solutions provide updated farming tools, as well as additional

information databases at your disposal4. ASP solutions makes adding counties easy


Where are we going next? (continued)

ListingsManager Pro

Upgrade to latest version of LMProThere 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


Vendor Searches

Business approach to future contracts (un-bundled)

1. The MLS Vendor will provide MLS2. The Tax Vendor will provide property/tax information3. The Transaction Management Vendor will provide the Transaction

Management platform4. NTREIS will manage the interconnectivity of these applications for

multiple vendors

MLS Selected Vendor MarketLinx


Why search at all with Rapattoni in place?1. 10 million dollar decision

2. Insure we have the best solution for the future

3. Rapattoni remains an option

4. 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.

5. Rapattoni is not customizable

6. Rapattoni CMA not comparable with other options

7. Rapattoni does not create custom reports

8. Rapattoni exporting is not user friendly


Vendor Searches (continued)

Transaction Management Selected Vendor1. First American

There are 200 local employees and training facilities available

Tax Selected Vendor1. Landata

2. On-site employees in the DFW area

3. They already have the data for our tax counties

4. They will also supply us with tax information for additional counties


MLS Vendor Timeline 1. RFP Issue Date September 24, 20022. RFP Due Date October 18, 20023. Vendor Presentations

to NTREIS Committee November, 2002

4. Finalists Selected Before November 27, 20025. Lab Tests by NTREIS Users/ December 2-20, 2002

Subscribers at the Associations6. Contract Negotiations Begin January 20037. Contract Approval March-April 20038. System Design/ Build April-June 20039. Member Training/Parallel Run August-October 200310. Live Date on New System November 3, 2003


Tax Vendor Timeline

1. Contract Negotiation Begins January 2003

2. Contract Approval March-April 2003

3. System Design/ Build April-June 2003

4. Member Training/Parallel Run August-October 2003

5. Live Date on New System November 3, 2003


Transaction Management Vendor Timeline 1. Contract Negotiations January 2003

2. Contract Approval June 2003

3. System Design/ Build June - July 2003

4. Member Training Implementation August-October 2003

5. Live Date on New System November 3, 2003


Questions and Comments

north texas real estate information systems, inc

Business

maestro mls system

backup mls system

tempo mls system

new system

new mls

mls features

system service

open system