RE association signs deal for database

Real Estate Weekly, Sept 5, 2001

Fidelity National Information Solutions, the most comprehensive source of data and services for the real estate industry, announced that it has signed an agreement with the Ontario Real Estate Association (OREA) to supply its 32,000 member REALTORS(R) with access to TEELApoint, FNIS' complete, region by region, property ownership records and historic sales database, through a Web interface.

"FNIS is committed to bringing superior technology and vital business intelligence to the REALTOR(R) desktop, and our agreement with the Ontario Real Estate Association will enable us to provide OREA's members with the public records data they need to speed transactions without added risk," said FNIS President and Chief Operating Officer Eric Swenson.

Since its March 1 launch in Ontario, Canada, TEELApoint has signed on more than 6,000 subscribers. The company expects its Canadian TEELApoint subscriber base to double in the next eight weeks in response to this agreement.

"Access to property records is a powerful and necessary tool for REALTORS(R) and other users," said Jeff Rogers, FNIS' Director, Canadian Public Records. "The exponential growth we've seen in the TEELApoint subscriber base since its debut demonstrates that we're filling an important need within the real estate industry." TEELA has been providing public records to Canadian clients since 1953. The TEELA name is practically synonymous with Land Registry Sales records in Canada. Clients include property appraisers, credit and collection firms, insurance professionals and other service industries.

"The agreement between the two organizations provides OREA member boards with the opportunity to access the TEELApoint product for their members on terms and conditions substantially better than Boards could negotiate on their own," said Brian Walker, Chair of OREA's Assessment Data Task Force.

TEELApoint utilizes the same technology, look and feel as RE/Xplorer(R), the most widely installed browser-driven MLS system in North America. This consistency between products creates an easy learning curve for TEELApoint users who have experience with RE/ Xplorer. The data will also be available to non-MLS customers of FNIS and to new clients in such non-traditional segments as direct marketing.