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Venus RoldanMIS677: Decision Support and Knowledge based SystemsFinal Project KM, DSS and BI

1

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Agenda1. Company Overview

2. Realtor functions seller/buyers

3. Knowledge Management

4. Decision Support System

5. Business Intelligence

6. RE Statistics on Technology

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National Headquarters

$ 155 Million In 2013 -Revenue

350 Employees Chicago &Washington Office

1.3 Million Members

1,500 local Associations

80 State Associations

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Mission

The core purpose of the National Association of

REALTORS is to help its members become more profitable and successful. Vision

The National Association of REALTORS strives to be thecollective force influencing and shaping the real estateindustry.Is the leading advocate of the right to own, use, and transferreal property.It develop standards for efficient, effective, and ethical realestate business practices.

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Real estate

agents

perform

a

number of functions for Seller:

Advising sellers on how to make the house more marketable.

Assessing current

market

conditions.

Assisting with paperwork.

Negotiating the sale price.

Helping clients through the array of tasks that must be

done before settlement.

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Real estate agents perform a number of functions for Buyer:

Showing homes.

Providing information about home values and neighborhoods.

Matching buyers and sellers.

Assisting with Lender Selection

Alternatives multiple criteria analysis (calculation of market

value, etc.).

Negotiating and signing the contract. Arranging for inspections.

Assisting with closings, and so on.

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Knowledge Management NARs KM Strategy:

Is to create value for their members by offering them the information that they need in order to be successful within the real estate industry.

How NAR do it:

The main roles of knowledge management in real estate sector is sharing

best practice.

Manage activities of groups that promote fellowship, and present programs designed to help Members be more knowledgeable and professional in

their dealings with the public and each other through educational

opportunities, networking, touting, and touring residential properties.

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Knowledge Management

How NAR

do

it:

Personalization strategy works best for NAR because,

they channel the right individuals with the right

expertise to successfully serve their members and the

information is shared between office and individuals

continuously.

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Practical capabilities of the Web Based DSS for Real Estate Web

Based

DSS

for

Real

Estate

(DSS

RE)

create

value

in:

Help customers assess their needs.

Identify suitable real estate to fulfill needs.

Compare and evaluate real estate.

Help customers evaluate the usefulness of the real

estate in the after purchase evaluation stage.

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WebBased

Decision

Support

System for Real Estate (DSSRE)

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Why Data is important on Real Estate

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Real Estate Business Intelligence

RBI provides the technological tools to the real estate professionals to conduct business smoothly and

conveniently, wherever

they

need

to;

allowing

them

to

access and manage the information in a intuitive and

easy way, and helping their customers' and clients to

make a wellinform and sound business decision.

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RBI Realtor Tool Kit Internet: Information is instantly available.

Email: Able to respond to sellers and buyers immediately. MLS: A very advanced system with links to tax

information, schools,

neighborhoods,

financing

and

other valuable information. There is no need to go out and see properties unless buyer is interested in specific homes.

MLS also allows the consumer to access this information which empowers them to their own research freeing up valuable time for the agent.

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RBI Realtor Tool Kit Continue Skype:

Stay

in

touch

at

home,

at

work

or

on

the

go.

Smart Phones much research can be done on the

phones and

has

instant

communication.

GPS used to have to look up homes in the Thomas

Guide, now

able

to

enter

in

address

and

directions

are

given in car.

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RBI Realtor Tool Kit Continue

Electronic Lock

Boxes

Allows

agent

access

to

sellers

homes in a safe and secure manner. Also records which agents have seen the home so they can be followed up on in a professional manner.

Zip Forms Software Has all 200 forms on line that are needed in a transaction. Agents can keep track of paperwork and signatures.

DocuSigned: Electronic signature technology and Digital Transaction Management services for facilitating electronic exchanges of contracts and signed documents.

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RBI Realtor Tool Kit Continue

Fan Pages Becoming more popular as it is widely accepted and preferred (Facebook) to utilize a Fan

Page for promoting your business and sharing

comprehensive listing data.

Social media channels: Twitter, Facebook, LinkedIn,

and Instagram, the fastest and most immediate way to

embrace and market themselves from a mobile device.

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Realtors list the three most valuable technology tools that they used in

2013 (excluding email and cell phone).

Real Estate software for forms and contracts such as Authentisign

(new this year), DocuSign, ZipForms, DotLoop, and FormSimplicity; Software and desktop tools such as Visual Tour, Adobe Acrobat, PDF

Expert, Toolkit CMA, and AppFolio;

Mobile apps such as Dropbox, eKey apps, Evernote, Google Maps, Open Home Pro, Paragon, Supra;

Tablets (iPad); Databases and property listing sites such as local MLSs, Realist

(public records database), REALTOR.com, Trulia, & Zillow; CRM solutions like T op Producer and eEdge (Keller Williams); Social media sites like Facebook and LinkedIn.

R e a l t o r s Technology in 2013

6

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INNOVATIVE TOOLS FOR MEMBERS

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Technology in General

8

9

15

27

22

12

5

3

4

5

11

21

22

19

8

9

$100-250

$251-500

$501-1,000

$1,001-2,000

$2,001-3,000

$3,001-5,000

>$5,000

How much did Realtors spend on technology fortheir business in the last 12 months.

0% 30%

$5,000

How much Realtors spend on technology NOT fortheir business in th e last 12 months

0% 30%