IRIS Integrated Realty Information System^TM, is a product that is developed based on geographic Grids (i.e metropolitan areas). These Grids can be developed either solely by PropertyKey, or through a licensing agreement with another organization.  Because the demand for IRIS is great, and PropertyKey has limited resources for geographic expansion, we frequently enter licensing agreements with local companies to develop and market IRIS in new Grids.  This allows for the expansion of IRIS into new markets, while maintaining a local marketing and support organization, and profitting the local reseller.

For example, there may be a significant interest in having an IRIS system in the city of Metropolis. If PropertyKey is not planning to develop Metropolis in the near future, it may attempt to find an existing local business, entrepreneur, or REALTOR® organization to License the Marketing Rights to IRIS in that Grid. This local organization would pay PropertyKey to develop and maintain the IRIS system in that geographic Grid, and then becomes the sole IRIS Reseller for that market. On top of the development costs, the Grid Developer pays PropertyKey a small royalty, and the rest of the profit goes the local developer.

This process is the same if a local organization initiates the development of a grid. For example, Metropolis's Board of REALTORS® may contact PropertyKey about having IRIS in their city. After learning more about the process, they may then decide that they want to be the local IRIS developer for that region. This arrangement would allow them to avoid paying the middle man in the process, and gain non-dues income by selling IRIS to organizations outside their membership (banks, government, etc.).

These grid licenses are very convenient, because it keeps both PropertyKey and the local reseller focused on their strengths and goals. PropertyKey handles the data, map, and picture development, and all the technical issues regarding implementing IRIS. The local company focuses on marketing and supporting the end users, which are jobs best done face-to-face with local representatives. PropertyKey benefits from the grid royalties and the expansion of IRIS, and the local licensee benefits from the income from marketing IRIS in their location.

There are also areas of the country PropertyKey is starting to develop, but has yet to set up a local office. These locations may also be available for a grid sale to a local reseller. Areas currently beginning development include:

Los Angeles, CA San Diego, CA San Francisco, CA Seattle, WA Columbus, OH

Raleigh, NC Charlotte, NC Tucson, AZ Phoenix, AZ Reno, NV

Houston, TX Austin, TX Dallas, TX San Antonio, TX

If you're interested, here's what you can do to find out more:

• To learn more about the IRIS software and it capabilities, please visit the IRIS Overview section.
• To see if your location is already developed, check out our Data Coverage section.
• If you have any questions or would like some references, contact us directly. We'd be more than happy to discuss this exciting business opportunity with you.