North Texas Real Estate Information Systems, Inc.

Town Hall Meeting

Revised 6/20/03

MLS and Information System Changes

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Introduction

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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

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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?

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Rapattoni provides a back-up MLS System (when MAESTRO is unavailable) 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

MLS and Information System Changes

Rapattoni Update (continued) Rapattoni Issues 1.

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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

Next Upgrade 1 st Quarter 2003

MLS and Information System Changes

What have we learned from the Survey and Focus Groups?

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15.9% of NTREIS users responded to the survey (1635) 2.

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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)

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Most important features in Transaction Management (ranked in descending order of importance

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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? 1.

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?

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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.

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

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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

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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

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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.

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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 10.

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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

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

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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

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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)

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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?

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10 million dollar decision 2.

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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

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First American There are 200 local employees and training facilities available

Tax Selected Vendor

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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

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MLS Vendor Timeline

RFP Issue Date RFP Due Date Vendor Presentations to NTREIS Committee Finalists Selected Lab Tests by NTREIS Users/ Subscribers at the Associations Contract Negotiations Begin Contract Approval System Design/ Build Member Training/Parallel Run Live Date on New System September 24, 2002 October 18, 2002 November, 2002 Before November 27, 2002 December 2-20, 2002 January 2003 March-April 2003 April-June 2003 August-October 2003 November 3, 2003

MLS and Information System Changes

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Tax Vendor Timeline

Contract Negotiation Begins Contract Approval System Design/ Build Member Training/Parallel Run Live Date on New System January 2003 March-April 2003 April-June 2003 August-October 2003 November 3, 2003

MLS and Information System Changes

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Transaction Management Vendor Timeline

Contract Negotiations Contract Approval System Design/ Build Member Training Implementation Live Date on New System January 2003 June 2003 June - July 2003 August-October 2003 November 3, 2003

MLS and Information System Changes

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Questions and Comments