MRED Blog

REinventing MLS

Offers of compensation on net: MRED policy update information

MRED is implementing changes to its offers of compensation on net policy. Beginning May 10, the below rule will go into effect:

“Net”: As a percentage of the net sale price in the initial contract, reduced thereafter only by an agreed reduction in the amount to be paid by the buyer due to a subsequent appraisal. The net sale price is defined as the gross sale price minus amounts to be credited or paid to the buyer, as reflected in the initial sales contract.

The change was made in response to subscriber feedback seeking clarity in situations where an appraisal comes in at a lower price than that which is stated in the initial sales contract.

Click here for more details on this policy change.

Have comments on the policy? Email us at policychange@mredllc.com.

Open house totals reach nine-month high

MRED’s residential marketplace saw 3,406 showings last week. That total was a 38% week-over-week increase and the most showings in a single week since September.

See all the stats in MRED’s Weekly Market Snapshot.

Closed listings at third-highest point of 2022

More than 3,100 residential listings closed in MRED’s marketplace during the last week. That’s a 26% drop compared to the same period in 2021, but a 15% week-over-week increase. Only two other weeks this year have seen more closed listings.

Click here to see the full report.

iHomefinder IDX Products Webinar – June 23

Did you miss the webinar? Or was it so good you want to watch it again? Click here!

Date: Thursday, June 23
Time: 11:00 – 11:45 AM CDT

iHomefinder IDX products turn your website into an online marketing machine that engages leads, helps you work more efficiently, and accelerates your growth. You can add an account to your existing website or get a ready-to-use real estate website with IDX built-in, and iHomefinder IDX has a webinar to help you learn about the product options and benefits, along with a Q&A session to help you choose the right plan for your business. 

Hosted by iHomefinder product specialists, this webinar will offer an overview of the product options and benefits, along with a Q&A session to help you choose the right plan for your business. This is your opportunity to get an excellent overview of the iHomefinder IDX product options and benefits, and to get answers to your questions in a Q&A session.

Save your spot today!

iHomefinder is the preferred IDX product provider for MRED, offering IDX products that have helped fuel the success of thousands of agents and brokers for over 20 years. As an MRED subscriber, you have access to iHomefinder IDX products with special pricing through the MRED products store.

Questions? Contact iHomefinder at sales@ihomefinder.com or 866-700-8855 x2.

Listings under contract up weekly, down annually

Listings under contract in MRED’s marketplace inched up on a week-over-week basis while still falling short of 2020 levels. The 6% weekly increase accompanied a 13% annual decline. It was the 16th straight week of year-over-year decrease.

Click here to see the weekly market snapshot.

Median sales price jumps to all-time high

MRED’s residential marketplace saw a 9% weekly and 5% annual jump in median sales price. This spike led to MRED’s largest recorded median sales price.

  • Median sales price last week: $300,000
  • Median sales price this week: $327,000
  • Median sales price during same period last year : $310,000

Sign up for MRED’s Dotloop and DocuSign training classes

Working with online documents and e-signatures can be easy! These classes are taught by certified Dotloop and DocuSign trainers and will familiarize you with important connectMLS integrations, including how to send contracts and add fields to documents for e-signatures.

Please note: MRED does not provide Dotloop or DocuSign accounts. You must have a Dotloop or DocuSign account to send documents from connectMLS to Dotloop or DocuSign. 

Available MRED training classes:

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