A new line on on-line management.

It took a little over a decade and a half for the residential real estate industry to become completely computerized, from the storing of apartment files to the issuing of monthly building reports. And as we become increasingly sophisticated about this technology, many of us have added such services as interactive web sites, digitalized messaging, wireless Internet, wireless e-mail, cell phones and beepers. In a very brief period, computers have enabled us to become more adept at immediate response to clients' needs and more accurate in the ways we record and disseminate data.

At this juncture, we are compelled to make even larger leaps into technology by taking advantage of instant communication networks with our client buildings. Now that our computer systems are totally indispensable, the next step has to be the ways that web sites and on-line access become integral to daily operations and communications.

Following that premise, Midboro is communicating with its boards on-line on a more frequent basis. For now, the information being transmitted is an addition to conventional paper correspondence, but we are able to send out up-to-the-minute information, such as the Local Law 38 regulations, through board members' e-mail. It gives our board members a head start on vital information that may have an impact on their properties and provides an opportunity for interactive online communication by replying to questions and concerns in real time.

Moreover, it won't be long before our boards will be able to convene in private chat rooms, i.e., on-line board meetings. In the last few years, Midboro has included requests for e-mail addresses on information forms distributed to new buildings, as well as on our building update forms. Naturally, this information is stored in our computerized systems. And what is especially interesting is how many more Manhattan residents have e-mail than ever before - at home and at the office.

Although at this time we are limited in our ability to meet with boards on-line in an official capacity, we are able to have informal dialogues. Due to constrictions in the by-laws of most co-ops and condos, on-line voting is not considered valid. Eventually, however, we believe that more latitude will be given to on-line voting measures as a further effort in accommodating busy board members.

On-line communications are also helping us create more efficient methods of processing forms. For example, Midboro is currently developing a cooperative application system that brokers will be able to use for their purchasers' board packages. Since we have the equipment to scan letters and tax returns, the information can be bundled, collated and organized into individual files with the completed application, then backed-up on disc and sent on-line. To make the process even more accessible, we are creating application forms that replicate a conventional paper format.

After our review process to ensure the package is complete, we will be able to distribute entire application packages to board members in minutes. In addition to the rapid transmission of the application, another advantage is that it is a more private means of disbursing confidential information and more efficient than reproducing mountains of paperwork. Since our closing department already checks financial data on-line through such services as TRW, we will be able to review everything in one concise on-line board package without the usual lag time, to the benefit of all parties. And when the information is no longer required, the delete key will more effectively replace die shredder.

Everyday, we find new opportunities to become better property managers through technology. In file 14 years that I have worked in this industry, we have replaced tens of thousands of index cards with computerized apartment histories; eschewed cumbersome ledgers for precise bookkeeping programs that instantly turn into truly accurate monthly reports; installed multi-faceted messaging systems in our offices; developed intra-office on-line memos; and that's just the beginning. Someday, boiler systems will be repaired with the touch of a button, as will elevators and HVAC systems. Our security systems already perform vis-a-vis video and on-line monitoring. The strides we have made in real estate have come quickly and are huge.

Furthermore, if we have accomplished all of this in less than 15 years, imagine what the next decade and a half will produce.