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South Metro Denver Association of REALTORS
South Metro Denver Association of REALTORS
July 17, 2002
The Pines at Genesee
July 17, 2002
The Pines at Genesee
Quick Overviews:
REALTOR e-Commerce
+
The Center for Real Estate Technology
+
The Shared Services Initiative
NRDS Was Developed by Association Executives to
…
NRDS Was Developed by Association Executives to
…
E-Commerce is Intended to be
Your Reward for Surviving NRDS
* Do Away With Multiple Databases
* Improve Member Record Accuracy
* Conserve Association Resources
E-Commerce Consists of 5 Optional Modules:
E-Commerce Consists of 5 Optional Modules:
• Member Invoicing
• On-line Payments
• EFT
• Investment
• REALTOR Mall
What Does REALTOR e-Commerce
Comprise?
Association e-Commerce Defined
Association e-Commerce Defined
• Invoice Presented On-line
• Provide a “Checkout Counter”
• Offer Immediate Validation
• Deposit Money Electronically
Flow Through Policy …Flow Through Policy …
In Colorado, if a Local Association chooses the “flow through” option,
both the State Association and NAR will pay their individual
portions of the credit card and e-check fees.
In Colorado, if a Local Association chooses the “flow through” option,
both the State Association and NAR will pay their individual
portions of the credit card and e-check fees.
Transaction Is Real-time End to End Transaction Is Real-time End to End
• View Invoice• Enter Payment Information• Receive Authorization (or Rejection)• Move Money
A Member Can …
After Two Years …After Two Years …311 Associations are Now Live on
REALTOR e-Commerce311 Associations are Now Live on
REALTOR e-Commerce
CAR Live MMSI Invoice
Colorado Springs
Live Rap Invoice
Denver Live Mall
Montrose Live NAR Invoice
EPOE
+1
Pikes Peak
Live Rap Invoice
Status of e-Commerce in Colorado
Your OptionsYour Options
• Use the NAR E-Commerce System
• Build Your Own Interface
• Purchase the Rapattoni or MMSI Interfaces
Previous Method ofDues Processing
Previous Method ofDues Processing
L o ca l A ssoc ia tionR e ce iv e s D u es
L o ca l A ssoc ia tionP ro cesse s D u es
S ta te R e ce iv esD u es
N A R R e ce iv esD u es
N A R P ro ce ssesD u es
N A R D e p o s itsD u es
S ta te R e m its D u esto N A R
S ta te P ro cessesD u es
S ta te D e po s itsD u es
L o ca l A ssoc ia tio n R em itsS ta te & N A R D u es
to S ta te
L o ca l A ssoc ia tionD e p os its D u es
R E A LT O R R e m its D u esto Lo ca l A ssoc ia tion
Simplification of Dues Billing Functions:
Simplification of Dues Billing Functions:
Function Manual Electronic EliminatedDeveloping Statements X
Printing Statements X
Billing Members X
Sending Reminders X
Receiving Dues X
Verifying Amounts X
Shortages/Refunds/ISF X
Posting to Financials X
Endorsing Checks XDepositing Funds X
When Members Embrace On-Line Dues Payment Associations No Longer ...
When Members Embrace On-Line Dues Payment Associations No Longer ...
Print Dues Statements
• Sort, Stuff and Mail Dues Statements
• Post to Member Financial Records
• Endorse and Deposit Checks
• Deal with Overdrafts
• Forward Payments to State/NAR
• Issue Late Notices
How Much Can You Save By Collecting Dues Electronically?
How Much Can You Save By Collecting Dues Electronically?
• An audit was performed in Vermont in February 2000 by Grant Thornton to identify actual association costs in the dues billing and collection processes before and after the implementation of electronic dues payments.
• Savings Per Member in Time and Materials
$10.14
REALTOR Associations are not the only associations that understand the savings e-Commerce brings.
REALTOR Associations are not the only associations that understand the savings e-Commerce brings.
USA Today: January 15, 2002“Airlines Use Fees to Encourage e-ticket use”
USA Today: January 15, 2002“Airlines Use Fees to Encourage e-ticket use”
Four major airlines now charge $10 for paper tickets … estimate e-ticketing saves $15-20 million a year, or $2 a ticket.
Banks realized the savings e-Commerce provides and began charging for teller-assisted services.
Additional Savings* Include ...
Additional Savings* Include ...
• Credit Card: (1.88%) savings of $2.39 per electronic member
• Electronic Checks: (1.9%) savings of $2.34 per electronic member
• EFT: ($.08) saving $8.92/Transaction.
* Based upon 1999 survey of average fees paid by state and local REALTOR associations. Variables include dues amount and previous fees paid.
Will the Members Use It …
Will the Members Use It …
NRDS Technical ResourcesNRDS Technical Resources
• E-Commerce CD
• ORP search: “ecommerce manual”
• E-Commerce Lab
• Help Line: 800-868-3225
• Realtorae.com/association technology/ nrds & e-commerce resources/realtors e-commerce network
NAR’sCenter for REALTOR®
Technology(CRT)
NAR’sCenter for REALTOR®
Technology(CRT)
Program Overview
Goal 1Advocate Technology for
REALTORS®
Goal 1Advocate Technology for
REALTORS®
• Represent industry needs to vendors.• Promote features that assist
REALTORS®.
• Encourage the adoption of technology that works now.
• Assist vendors who want to demonstrate their solutions to REALTORS®
Maximize the Technology Investment of REALTORS®
Goal 2Implementation Support for
REALTORS®
Goal 2Implementation Support for
REALTORS®
• Help the implementation of NAR policies with technical guides written for "technical staff“.
• Provide architectural support to vendors serving the market.
• Publicize the implementation of tools that assist REALTORS®.
• Support standards that assist information exchange.
Tools and Techniques for REALTORS®
Goal 3Provide Information to REALTORS®
Goal 3Provide Information to REALTORS®
• Vendor Guide• Trends• How-to Publications• Speaker series
Self Help for REALTORS®
Center StaffingCenter Staffing
• Initial group of 5 staff by December– Focus on technologists and
practitioners• Located in Chicago
Keeping the Center Cost Effective
Thank You!Thank You!
