MRED Blog

REinventing MLS . . .

Should I Wait Until Next Year? Or Buy Now? [Infographic]

How to Download Your Homesnap Pro Account

Homesnap-Pro-App

  1. Look for your email from Homesnap with your personalized link to download Homesnap Pro
  2. This link will take you to your app store to download the app
  3. After the app has downloaded, open the app and when promoted, click “I’m a Real Estate Agent”
  4. Next, click “Yes, I am a member of MRED”
  5. Search for your MLS account with your name
  6. Choose which way you would like to verify your account, email or text message
  7. Confirm your profile information and add a photo. NOTE: You MUST add a photo to your account
  8. Create a password for your account
  9. Click “Complete Profile”

Watch the Video »

Homesnap University »

Broker Public Portal (BPP) Initiative Takes Off As MRED Launches Homesnap in Chicago

Chicagoland MLS is first in country to roll out new home search experience backed by real estate industry.

LISLE, IL, JULY20, 2016 — Midwest Real Estate Data (MRED), the Chicagoland multiple listing service (MLS) representing over 40,000 real estate professionals in the Chicago area, has become the first MLS to launch the Broker Public Portal (BPP). BPP will be going to market with the Homesnap brand and with the full suite of consumer and agent-facing features offered by Homesnap. MRED customers will receive access to mobile real estate app Homesnap Pro and other benefits as a result of MRED s participation in and support of the BPP initiative. This is the first time that brokers in Chicago have supported an MLS-sponsored consumer home search experience in their market.

The BPP initiative is a collaboration between real estate brokerages, real estate franchisors and Multiple Listing Services (MLSs) across the United States to create a national home search experience for consumers that is more straightforward and clear than those offered by advertising-driven media companies. In May, the BPP board announced it had partnered with Homesnap, creator of highly-rated real estate apps for consumers and agents, to launch BPP under the Homesnap brand. This will include an iPhone app, Android app, and mobile and desktop websites. The experience will be free from ads and paid agent placement. Instead, consumers can easily collaborate with their own agent, or connect instantly to the listing agent, ensuring information and answers from a pro who truly knows the home, neighborhood and local market conditions.

”MRED is thrilled to be the first to implement BPP for its customers,” said Rebecca Jensen, President/Chief Executive Officer of MRED.  “It was critically important to our leadership that the Fair Display Guidelines be the guiding light of this project, and we are proud to support a grassroots effort that has backing from all corners of the real estate industry.  Homesnap has a great track record in other markets and we are very excited to bring it to the Midwest as part of the suite of services we provide to our real estate professionals.”

“We commend MRED’s early participation in and bold support of BPP,” said Guy Wolcott, co-founder and CEO of Homesnap. “This initiative is designed to help MRED create nationwide listing exposure and lead generation for their members without having to pay to advertise their listings online.  MRED customers will enjoy many direct benefits, including access to Homesnap Pro and a robust platform to collaborate with their clients and each other. We are thrilled to be working with MRED and expect they will set the precedent for other MLSs to follow suit.”

“MRED shares our vision of home search defined by simplicity, integrity and common sense,” said BPP Co‐Chair John Mosey, CEO of Twin Cities-based NorthstarMLS, which serves Minnesota and Western Wisconsin. “Consumers and agents in greater Chicago will now be able to work together more easily, with better information, than ever before.”

About MRED

Midwest Real Estate Data (MRED) (http://www.mredllc.com) is the real estate data aggregator and distributor providing the Chicagoland MLS to more than 40,000 brokers and appraisers and nearly 8,000 offices.  MRED serves Chicago and the surrounding “collar” counties and provides property information encompassing northern Illinois, southern Wisconsin and northwest Indiana.  MRED delivers over twenty products and services to its customers, complementing connectMLS™, the top-rated MLS system in the country for three years running according to the WAV Group MLS Technology Survey.  MRED is the 2013 Inman News (http://www.inman.com) Most Innovative MLS/Real Estate Trade Association, and for five consecutive years the MRED Help Desk has been identified as one of the best small business centers in the United States and Canada by BenchmarkPortal (http://www.benchmarkportal.com).  For more information please visit MREDLLC.com.

About BPP

The Broker Public Portal LLC is a collaborative venture between real estate brokerages and MLSs to create a national consumer home search experience defined by simplicity, integrity and common sense. The portal aims to provide consumers with direct access to the most comprehensive, timely, and complete property information while adhering to fair display guidelines. The BPP initiative is backed by 115 MLSs and real estate companies, including franchisors, independent brands, big brokers, and small brokers, operating in diverse markets across the country and collectively representing over 500,000 real estate agents. It will be funded by, and rolled out through, local MLSs.  More information can be found at http://brokerpublicportal.com.

About Homesnap

Homesnap is the highest-rated mobile real estate app, used by millions of consumers to explore homes and search listings. Homesnap Pro, the professional version of Homesnap, is the fastest-growing mobile app for agents – now available to every agent in 40 MLSs with over 300,000 members. Both are powered by a specialized homes database that combines MLS data, property tax records, census data, geographic boundaries and more.

 

Sales at Highest Pace in 9 Years! [Infographic]

BREXIT: What’s the FIXIT for U.S. Home Buyers and Sellers?

Brexit-KCM2

Now that much of the dust has settled and the panic has waned, let’s take a look at what impact Britain’s exit from the European Union may have on the U.S. housing market.

The most immediate impact of Brexit will be on mortgage interest rates. Interest rates have remained at historic lows for the last several years. Contrary to what many experts believed, rates have remained low throughout the first half of 2016.

Possible impact of Brexit on mortgage rates?

In a recent article, the Washington Post explained:

“Brexit has spawned the recent bout of volatility in global financial markets. That has anxious investors scurrying for safety — and few assets are safer than U.S. Treasuries. High demand for government debt pulls down interest rates.

That all translates into ultra-low mortgage rates for American households. And with Britain voting for Brexit, they could go even lower.”

However, the lower rates caused by Brexit may be short lived as Trulia Chief Economist Ralph McLaughlin pointed out in a recent post:

“While the departure of the UK from the European Union has driven down the 10-year bond, and thus mortgage rates, we expect them to rebound later in the year as uncertainty over the economic consequences of the departure lifts.”

Bottom Line

Rates are already at historic lows. The UK’s exit from the EU almost certainly guarantees they will remain low (and possibly go lower) over the next few months. If you were thinking of buying your first home or trading up to the house of your dreams, this may be the time to act. The cost of money may never be better for a potential buyer.

Blog Post via KCM Blog

5 Reasons to Sell This Summer

20160627-5Reasons-KCM

As the temperature rises, buyers are coming out ready to purchase their dream homes. The summer is a great time to list your home for sale. Here are five reasons why:

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.

This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this summer.

Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017.

The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

Fannie Mae just announced that they anticipate an acceleration in home sales that will surpass 2007’s pace by late summer. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler.

4. There Will Never Be a Better Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.3% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to increase by nearly a full percentage point in the next 12 months.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Blog Post via KCM Blog

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