heard on the street
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logo and the move of its corporate headquarters. The new logo is part of a larger rebranding project. With record growth over the past few years, including being recognized in the Inc. 5000 as the 12th fastest-growing privately-held real estate firm in the United States, Pro Teck saw the need to ensure its culture and purpose were clearly articulated to a growing family of employees, vendors and clients. The rebranding effort will sharpen Pro Teck’s mission and message. “Pro Teck’s shift to a new look symbolizes the accuracy, service and expertise we deliver to our customers. Our focus is to provide the most accurate real estate valuations, custom configured to meet the business needs of originators, servicers, investors and underwriters,” said Tom O’Grady, chief executive officer of Pro Teck. “We believe the new logo captures the spirit of how Pro Teck effectively delivers its services.” Pro Teck will also be moving its corporate headquarters to a new building that will more than double its current space. “Success has made this move necessary,” said O’Grady. “Fortunately, we were able to find a new home less than a half mile from our current location, making the transition seamless to our customers and employees. The new site provides an excellent working environment for our staff, and will allow us to meet the future needs of our clients.” For more information, visit www.protk.com.
NAR announces tech acquisition of LPS Real Estate Group
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DECEMBER 2009
Equifax Inc. has announced that it has acquired Rapid Reporting Verification Company, a privately-held national provider of IRS tax transcript information and Social Security Number authentication services. The addition of Rapid Reporting will enhance Equifax’s ability to provide lenders with improved
OKLAHOMA MORTGAGE PROFESSIONAL MAGAZINE
Equifax acquires Rapid Reporting
www.NationalMortgageProfessional.com
The National Association of Realtors (NAR) has acquired technology to create a database of all properties in the U.S. The technology acquisition includes licensed data and secured data aggregation services from LPS Real Estate Group, a wholly-owned subsidiary of Lender Processing Services Inc. NAR will use the assets to develop the Realtors Property Resource (RPR), a parcel-centric information database covering all of the more than 147 million property parcels in the country as a resource for NAR members. NAR is planning to launch RPR in the second quarter 2010. “Realtors are the first, best source for real estate information, and the RPR is another emphatic feature to that resource,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Real Estate in Dallas-Fort Worth. “RPR will give Realtors nationwide data on all properties at their fingertips so they can respond quickly to consumers interested in residential and commercial real estate. This is exciting news and a terrific NAR member benefit. NAR is committed to keep Realtors central to the transaction and to the buying and selling experience with their clients and customers.” The management team of RPR includes Chief Executive Officer Dale Ross, cofounder of the Metropolitan Regional
Information System; President Marty Frame, former general manager of Cyberhomes; Senior Vice President of Industry Relations Mona Steen, former senior vice president with Cyberhomes; and Jeff Young, NAR director of the Realtors Property Resource and 2008 president of the Michigan Association of Realtors. RPR will provide nationwide access to public record information, such as tax and assessment data, liens, zoning, permits, environmental information and information on neighborhoods, school district and community demographics, along with advanced search features for property searchers, as well as market-tomarket comparisons and referral opportunities not currently available. “These acquisitions will allow Realtor interests to control the program and the content,” said NAR Chief Executive Officer Dale Stinton. “Realtors need to respond quickly to today’s tech-savvy consumers, and the RPR provides a means for multiple listing services (MLS), commercial information exchanges (CIEs) and real estate brokerage business models to support the Realtor community, rather than requiring Realtors to purchase data aggregated by third parties. RPR is not a national MLS, and will carry no offers of cooperation and compensation. It is a private, NAR members-only benefit. The assets acquired by NAR will be directed through a wholly owned subsidiary corporation, Realtors Property Resource LLC.” RPR will develop business strategies to make it affordable and feasible for NAR members, and will complement, not compete with, MLSs and CIEs. While many MLS and CIE systems provide a range of services, no two are alike. Brokers are looking for tools that support their agents across multiple markets with similar service levels and access to robust and valuable data. RPR is designed to support local MLS and CIE models to create a common experience for agents and brokerages. “We’re honored to have been selected by the National Association of Realtors to provide technology, data and other services for the RPR,” said Jay Gaskill, president of LPS Real Estate Group. “Being involved with such a transformational industry initiative serves as an endorsement for our company and the premier products and services we provide to MLSs and associations, brokers, franchisors and sales associates.” For more information, visit www.realtor.org or www.lpsvcs.com.
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