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FREQUENTLY ASKED QUESTIONS,
Q: What is Lone Wolf Real Estate Technologies?
A: Founded in 1989, Lone Wolf Real Estate Technologies provides a fully integrated real estate brokerage administration and accounting system that is used in over 2,200 real estate offices across North America. Lone Wolf has over 40 employees, with head offices in Cambridge, Ontario, Canada, as well as branch locations in Los Angeles, Tulsa, Denver, Edmonton and Toronto. A complete back-office management platform, the Lone Wolf Realty Management System brings together all facets of a real estate company’s administration and accounting functions together in a single, fully integrated, real-time system. The Lone Wolf Realty Management System generates listings and transactions, closings and commission checks, accounts payable and agent billing, month-end reporting, financial statements and more.
Q: What is the First American/Lone Wolf Real Estate Technologies integration all about?
A: First American has formed a strategic partnership with Lone Wolf Real Estate Technologies to deliver an integrated, real estate transaction management solution for their joint customers. Through the integration of First American’s transaction management platform (Transaction Manager) and Lone Wolf’s broker accounting and administrative system (Lone Wolf Realty Management System), users will now have the ability to export their transactions from Transaction Manager and import them into their Lone Wolf Realty Management System, eliminating the need to re-enter information. The changes will affect users who currently utilize the Lone Wolf Realty Management System.
Q: Why is this integration important from a sales perspective?
A: The integration between the two systems is extremely exciting because it offers many advantages from a selling perspective. It also enables First American representatives to differentiate themselves from the competition in the eyes of the client as well as in the marketplace.
- We are able to offer a true, value-added solution to our customers. If they already have the Lone Wolf system, the up-sell potential for Transaction Manager is great and vice versa) because of the fact that these two platforms already integrate.
- First American is working toward additional integrations with Lone Wolf so that we are able to provide our customers a true "one-stop shop" solution. We are currently looking at integrating Lone Wolf with First American technologies such as Streamline, TEMPO and others. Customers who choose the existing First American platform will benefit from the enhanced functionality that the system will offer over time.
- . The relationship between the two companies is solid; as part of our strategic partnership, we have the first right of refusal to buy Lone Wolf Real Estate Technologies. Combined with future integrations and enhancements, this enables us to meet the needs of the customer through one source.
Q: training for new features be provided to the regions?
A: An overview and demonstration of the features and functions of the integration will be scheduled for the regions - online meeting notices will be sent in advance via email through designated regional sales and business unit IT representatives. Training will be completed for each region as Lone Wolf customers begin implementing Transaction Manager. In most cases, First American Residential Group will conduct the initial set-up and install; then the local region will take over.
Q: Are there any marketing materials available to me?
A: es. A marketing flyer detailing the features and benefits of this strategic partnership will be available via SharePoint. Hard copies of the flyer can be ordered from the online marketing store at http://www.vencio.com/FirstAM/MarketingStore. To log on, use the Username and Password assigned to your region.
Q: should I market and/or sell this new functionality within my title region?
A: The integration of First American's Transaction Manager and Lone Wolf's Realty Management System creates efficiencies for those companies that adopt both systems. Users of the two systems will have the ability to export their transactions from Transaction Manager and import them into their Lone Wolf system, eliminating the need to re-enter information and eliminating potential errors from re-keying data. The integration of the two technologies also improves the speed and timeliness of having transactional data for the broker in the back office, increasing their ability to analyze their cash flows and agent productivity.
Q: Will industry promotion of this strategic partnership take place?
A: Yes. A press release announcing the strategic partnership between First American and Lone Wolf Real Estate Technologies was released via PR Newswire and to the industry trades on July 28, 2005. Copies of the release were also distributed during Inman's Real Estate Connect Conference, and the relationship will continue to be promoted during Q3 and Q4 2005 events such as the RE/MAX Broker/Owner Conference, California Association of REALTORS® Expo and the National Association of REALTORS® Annual Conference, as well as in industry publications.
Q:Who can I contact for more information?
A: Mike Lancaster
Executive Vice President, Client Management & Sales
First American Residential Group
Phone: 714.800.5254
MLancaster@firstam.com
Lorne Wallace
President
Lone Wolf Real Estate Technologies
Phone: 519.624.1236
Wolfman@lwolf.com
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