PropertyKey is committed to developing advanced map based Real Estate Property Information Systems to meet the needs of all aspects of the Real Estate Industry and anyone in need of Property Information. We are continually developing strategic software, services, and techniques to provide the best access to the most detailed data available. Whether this is developing our flagship product IRIS in regional markets, creating more customized services for boards of REALTORS© or Government Agencies, or providing individuals access to property reports on the web, we are committed to providing our customers with the property information advantage.
The Property Information Advantage is a phrase we use to describe our focus at PropertyKey. There are millions of people in the United States alone who need access to some level of real estate information to perform their jobs. There are millions more who could benefit from having access to this information in their jobs or for personal reference. These people need a comprehensive, yet simple way to access the property information they need. If they don't have access to the information they need, or if it is difficult to access, there is no advantage to the customer. Our goal, by meeting these two challenges, is to allow our customers and partners to reach the full potential of this property information.
There are dozens of categories of users benefiting from the use of PropertyKey's technologies, some of which include REALTORS ©, Title Companies, Insurance Companies, Banks, Credit Unions, Mortgage Companies, Attorneys, Devlopment Companies, and Government Agencies. Beyond this list of users who benefit by using PropertyKey's software solutions, there are additional ways in which entities can benefit through other business arrangements. The most obvious business arrangement is obtaining a regional license to resell IRIS. Local companies, Real Estate Boards, etc., who have an interest can develop and sell access to an IRIS system for their metropolitan region. This facilitates the expansion of IRIS's boundaries, while maintaining a local marketing and support organization, and profiting the local reseller. These arrangements are beneficial to everyone involved.
Another common alliance with PropertyKey is in the realm of data reselling and brokering. Many companies, Government Agencies, and Real Estate Organizations maintain huge databases of property related information. This information can be very valuable in today's market. PropertyKey can frequently take this data, and combine it with its IRIS framework to create a valuable product. The data provider benefits from a portion of the income from this new product. Some Government Agencies, for example, are willing to contribute data solely in exchange for access to IRIS or PropertyKey's data.
PropertyKey's future looks very bright, primarily because the demand for quality property information is increasing, and no one else delivers solutions which are as complete as ours. The demand for IRIS is increasing in many areas of the country, and we are constantly evaluating plans for expanding into new regions. We are also researching and developing new products and product enhancements. Increasing our data coverage, increasing our number of users, and broadening our product line are all very promising growth potentials for PropertyKey.