MRED Blog

REinventing MLS

Open house totals reach seven-month high

The total number of open houses in MRED’s marketplace during the last week jumped 57% compared to the previous week. That spike led to the most open houses in a single week since September:

  • Open houses last week: 1,896
  • Open houses this week: 2,975
  • Open houses during same period last year : 2,944

See all the stats in our Weekly Market Snapshot.

New listings reach highest point this year, but just barely

This week, the number of new residential listings in MRED’s marketplace eked out a new high for 2022:

  • New listings this week: 6,555
  • New listings last week: 6,554
  • Year-over-year change: -16%

Click here to see more of this week’s market statistics!

Downshift in residential closed listings extends into May

Despite a 29% week-over-week increase in closed listings among MRED’s marketplace, this week’s residential closed listings continue to be significantly lower than last year:

  • Total annual closed listings as of this week: 3,246
  • Total annual closed listings as of last week: 2,515
  • Total annual closed listings as of this week last year: 4,506
  • Week-over-week change: +29%
  • Year-over-year change: -28%

Click here to see more of this week’s market statistics!

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.

Aggressive ramp up in number of open houses: Up 8% from last year

Spring has sprung and so have eager home sellers. The number of open houses among MRED marketplace’s residential listings more than doubled last week, reaching their highest number since October 2021.

  • Open houses this week: 2,703
  • Open houses this week last year: 2,504
  • Year-over-year increase: 8%

Click here to see all the stats in our Weekly Market Snapshot.

Elm Street Mastermind Series: Blockchain and its impact on real estate 2.0

Elm Street Academy recently had the opportunity to bring together top thought leaders across the real estate sector to share their viewpoints on ‘Blockchain and Its Impact on Real Estate.’ Due to popular demand, we are taking the conversation to the NEXT LEVEL! Blockchain, crypto, NFT, Metaverse, bitcoin, DeFi, Web3…they may sound like buzzwords, but there is a reason why they are getting so much attention.

In this thought-provoking, 1-hour webinar, Matt Fagioli , Moderator (Operating Partner, BKG™ – Brokerage Atlanta) will be joined by Teresa Grobecker (CEO, Real Estate Consortia ), Chris Tamm (CEO, Ownership Financial and Managing Partner, Cast Services), Sam DeBord (CEO, Real Estate Standards Organization), and Mark Thomas (Co-Founder & CEO, Zen Sports) to discuss digital transactions
in real estate.

This dynamic panel will bring a diverse set of perspectives, offering insight not only into the current impact that blockchain technology is making on the industry, but how to be prepared for what’s to come next.

Friday, April 29th – 2pm ET / 11am PT

Click here to register!

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