| ...the concept ~ why it works |
The concept of the NRE Internet Marketing System (NRE/IMS) is quite simple. Store pertinent information on people and properties in one place. Then have uniquely programmed computers identify and structure transactions that are economically feasible, and acceptable to all participating parties. Then provide guidance and support to everyone involved (owners, buyers, brokers, agents, attorneys, title companies, closing agents, qualified intermediaries) that result in closed transactions where everyone is happy (the classic definition of "win-win").
In order to help understand the computer-assisted marketplace from NRE's perspective, we offer a few definitions or guidelines that you may or may not have given much thought to previously. These basic concepts are central to the understanding and successful (and thus profitable to you) utilization of the NRE Internet Marketing System.
#1: Every transaction is an exchange. Not necessarily in the sense of a Section 1031 tax-deferred exchange under the Internal Revenue Code, but rather in the sense that every successful transaction is based upon all parties in the transaction being able to exchange what they have for what they want.
Most real estate exchanges involve two parties, a buyer and a seller. The buyer exchanges their money for real estate. The seller exchanges their real estate for money. Many real estate agents and brokers (and indeed their clients) never go beyond that level. They haven't needed to. They have done very well with listing and selling in the traditional marketplace. But the 'traditional marketplace' has changed tremendously. NRE/IMS brings an entirely new tool to the table in a vastly changed marketplace - the timing couldn't be better!
#2: There are four types of principals out there in the real world marketplace.
#3: Each of these four types of principals has one thing and wants something else (otherwise they wouldn't be in the marketplace to begin with).
#4: There has to be one central location into which information on what each principal has and what each principal wants for the system to work effectively.
#5: The system has to be administered by people, software, and computers that all know what they are doing. At NRE that's not a problem. Fifty-some years of experience, mature software running on state-of-the-art computers, high-speed connections to and from the Internet, all combine to add up to a resource whose time has come!
Real estate exchanges beyond 2-way buy-sell transactions have been relatively uncommon historically. First, because many brokers (and their customers and clients as well, even some closing agents) sometimes have trouble understanding exactly how multi-party exchanges work. Second, processing the massive amounts of data to find and structure that "needle in the haystack" transaction is simply an overwhelming burden that was virtually impossible prior to the advent of computers to do the job.
Back in the early 1970's, however, ten years before computers started showing up in almost every office, an enterprising young real estate professional named Jack Pyle, a CCIM designee and senior instructor in the CCIM designation program of the (then) Realtors National Marketing Institute (a part of the National Association of Realtors), conceived the idea of using centrally located computers to store information on what each party 'had' and what each party 'wanted.' Then he created the sophisticated software that could structure multi-party transactions, economically feasible transactions, in which all parties could receive what they wanted in exchange for what they were offering.
In 1974, Jack Pyle founded the National Real Estate Exchange, Inc., and over the course of the next several years the NRE network grew to some 400 commercial, investment and residential brokerage offices in 45 states and Canada, accessing a central computer data center in Kansas City, Missouri, and using portable Texas Instrument data terminals at the 'blazing speed' of 300 bits per second. Connections to the Internet now are typically into megabits per second!
IBM's introduction of the personal computer in 1981 was a major turning point for NRE. Everyone wanted their own computer in their own office, and the idea of processing data on centralized mainframe computers was carefully shelved to await the proper place and the proper time.
More than one observer back then in the late 1970's and early 1980's said that "NRE was light years ahead of its time." How true that was, even though we had no idea what was going to be in store for us some fifty-plus years later!
But that was then, and this is now. The concept hasn't changed, but the tools and the technology have. And now the Internet provides the communications vehicle with which we can propel ourselves into the future using NRE's proven concepts, its unique proprietory software, and its substantial computing know-how. We invite you to join us for an exciting ride.
You can sign up right here on line, if you'd like, by clicking registration.
Or you can learn more about this new venture by clicking faq.
Or you can review a 1972-2023 timeline of NRE's development by clicking happenings.