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Crye-Leike, Realtors Chooses Fidelity National’s Transaction Management Solution

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RISMEDIA, January 23, 2009-Crye-Leike®, Realtors® has chosen TransactionPoint® from Cyberhomes LLC, a division of Fidelity National Financial, a Fortune 500 provider of products, services and technology solutions to the financial and real estate industries, as the automated transaction management solution for its 3,800 licensed sales associates in Tennessee, Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi and North Carolina.

According to Crye-Leike, the company conducted an extensive analysis before selecting the technology from Cyberhomes. This enterprise initiative, announced this week, is already underway. By April it will begin improving efficiency and profitability by streamlining operations and facilitating greater collaboration between Crye-Leike’s real estate offices and its ancillary businesses to drive even greater capture rates to these entities.

“This is the launching pad for changing the industry culture,” said Gurtej Sodhi, CIO & Sr. VP for the Crye-Leike Group of Companies. “This platform will allow us to adopt processes that help move the real estate transaction towards a more efficient and paperless business environment.”

TransactionPoint will introduce automated transaction management to Crye-Leike’s network of 126 corporate and franchise offices in 65 counties across the eight Southern states. The solution organizes, reports and secures every activity and document in a real estate transaction as it provides 24/7 access to authorized parties. By centralizing documents in a “paperless” environment, it improves accuracy and communication, while facilitating greater transparency of transaction status and adherence to regulatory compliance requirements.

“Using this cutting-edge transaction management technology platform to collaborate between the real estate professional, the lender and the closer – as well as appraisers, inspectors, and all other parties – will enable Crye-Leike agents to reduce the transaction cycle time as they drastically cut the generation of paper documents,” said Sodhi. “As a result, we believe the entire real estate transaction will become more transparent, giving home buyers timely insight into the status of active transactions, as well as online access to their documentation for an extended period after closing.”

“TransactionPoint is truly redefining how our industry transacts the business of real estate by creating collaboration among partners and reducing the volume of paper involved in the transaction,” said Jay Gaskill, president, Cyberhomes, LLC. “Crye-Leike has a steep tradition of innovation and exceptional service to their customers and agents and we look forward to partnering with them as they enter the next chapter in their pursuit of operational and service excellence.”

Harold Crye, CEO and president of the company, describes it as their “next generation technology.”

“TransactionPoint will give our sales associates a great leap forward in better servicing their customers,” Crye said. “It will also enable them to better engage and empower their customers from the start of the transaction, and that will be a big competitive advantage.”

“This is a win-win for the sales associates as well as the home buyers,” he said.

For more information on TransactionPoint from FNRES, or the non-proprietary document management solution, DocCentralTM, contact Walt Clark at walt.clark@cyberhomes.com.

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