MRED Blog

REinventing MLS

Remine features you should be using

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It’s been a couple months since MRED launched Remine and gave you the opportunity to prospect better (If you haven’t already activated your account, you can do that for FREE here), but you might not be familiar with all Remine’s INCREDIBLE features.

Here are some tools in Remine you might not have known about… and how to take advantage of them:

 

Ownership Time

On average, people move every 7 to 12 years. You can identify potential sellers or buyers by filtering for people who have owned for at least 7 years.

There are two locations in Remine where you can see ownership time: the Ownership Time filter on the Discover map, and the header on the Property Details page. Remine calculates ownership time (in years) by counting forward from the last filed deed.

After you track a property, you’ll get a notification on the Engage page each time a deed change occurs. Remine wants to provide you with the most valuable information about the properties you track, so if you disagree with an ownership time calculation, you can view all filed deeds since 1996 in the Property History section of the Property Details page. You can use this information as context for your own calculation model.

 

Upload Contacts

You can upload your sphere of influence (SOI) to Remine to track. After you’ve uploaded contact information for everyone in your SOI, you can assign labels to identify and sort people in whatever way is most helpful to you.

After you upload and track your SOI, you’ll receive real-time notifications when any information changes for anyone in your SOI. When you’re up-to-date on any important changes in your clients’ lives, you can clearly identify where to spend your time and effort, and you’ll have the latest contact information at your fingertips. When you upload your contacts, you’ll be able to nurture your leads more efficiently and with the correct messaging. The uploading process can take 48 hours to a week to complete.

 

Paid Features (Available with Plus, Success, and Pro):

 

Absentee

You can use the Absentee filter to identify people who may be tired of renting their property and are looking to sell, or tenants who are renting and may be ready to buy.

Absentee ownership labels properties that aren’t occupied by the owner. There are two locations in Remine where you can see absentee ownership: the Absentee filter on the Discover map, and the header on the Property Details page. Remine identifies a property as absentee-owned when the property address doesn’t match the mailing address for the owner.

Remine breaks down the Absentee filter into four types of owners:

  • Corporate (absentee)
  • Owner Occupant
  • Absentee, In State
  • Absentee, Out of State

 

Property Value

You can use the Property Value filter to identify tear-down opportunities for a buyer looking to build. For example, if you target an area where property values commonly exceed $1 million, you can filter by properties valued between $500k and $650k.

There are two locations in Remine where you can see valuation estimates: the Property Value filter on the Discover map, and the Valuation section on the Property Details page. The valuations you see are provided to us by First American, Zillow, and Eppraisal, which calculate property values using automated valuation models (AVMs). Click here to learn more about how Remine displays property values.

 

Home Equity

You can use the Home Equity filter to identify eligible sellers. The more equity an owner has, the more able that person is to make a move. If you combine Home Equity with Property Value, you can easily identify owners with, for example, 40% or more equity, then farm those owners with marketing campaigns.

There are two locations in Remine where you can see net equity: the Home Equity filter on the Discover map, and the header on the Property Details page. Since Remine sources data from public records, net equity is an estimate. Click here to learn how Remine calculates net equity.

 

Remine adds mailing label printing feature

Printing Mailing Labels

(If you haven’t already registered your Remine account, you can do that for FREE here)

The ability to print mailing labels was by far the most requested feature to add to MRED’s newest prospecting tool.

And now it’s live in Remine.

Remine Small

You can print as many mailing labels as you want with the click of a button from theTrack page of your Remine account. This is where you can filter your properties by labels and then select the checkboxes next to the properties you want to create mailing labels for (you can also click “Select All”).

At this point the “Print Mailing Labels” icon will appear. Once you click this you can customize the details of your labels:

Recipient Name

Property Owner(s): The label will show the name(s) of the property owner(s).

“Current Resident”: The label will show CURRENT RESIDENT instead of a name.

Address

Property Address: The label will show the address of the selected property.

Mailing Address: The label will show the mailing address of the selected property’s owner (often useful for absentee owners).

Label Type

Avery 5160: 2 5/8” x 1”

Avery 5161: 4” x 1”

Avery 5162: 4” x 1.33”

Then click “Print”, review your printing options, and print the labels!

Have any questions on this or any other Remine features? Click here and select “Remine” or “Remine Online” under “Course” to register for MRED training.

For any additional help, you can chat with Remine’s support team by clicking the blue and white button on the bottom right of the Remine screen. And you can always contact MRED’s help desk by calling 630-955-2755 or sending us an email.

There’s a new game-changing Homesnap feature!

Midwest Real Estate Data Renews Art Carter as Strategic Manager

Midwest Real Estate Data (MRED) announced that Art Carter has been unanimously elected to another one-year term as a Strategic Manager on its Board. Carter, CEO of the California Regional Multiple Listing Service (CRMLS), has served in this position since 2016. During this time, MRED has seen the addition of several new products and services for its customers, enhancements to the MRED Multiple Listing Service (MLS) mobile-friendly platform, and the development of a Broker Outreach department.

ArtCarter

MRED created the position of Strategic Manager to be filled by up to two individuals at the discretion of and election by MRED’s Board members. Strategic Managers are invited onto the Board because of their expertise and participate on an advisory basis. Their input is invited to enhance the ability of MRED’s leadership to make the best decisions and serve their real estate professionals in the most effective manner.

Carter brings a wealth of experience to the table. As CEO of CRMLS, Carter oversees the strategic direction of the largest MLS in the country at more than 93,500 real estate professionals and 34 associations across California. Carter has overseen three mergers with other MLSs since taking his role in 2005. He currently serves as Chair of the Real Estate Standards Organization (RESO). Carter was named one of Inman’s Most Influential Real Estate Leaders in 2016 and 2017. In 2016, 2017, and 2018 he was named one of the Top 20 Association/MLS Executives in the Swanepoel Power 200. Carter served as President of the Council of Multiple Listing Services (CMLS) in 2014, and in 2017 was honored with CMLS’s Peter Shuttleworth MLS Executive Award of Excellence. In 2012, he was inducted into the Dr. Almon R “Bud” Smith, RCE, AE Leadership Society in recognition of his dedicated service and commitment to advancing the REALTOR® organization and the Association Management profession.

“I’m thrilled at the opportunity to continue a partnership between two of the largest and most forward-thinking MLSs,” Carter said. “Now more than ever, it’s crucial for MLSs to work together to pioneer new ideas and address the needs of real estate brokerages and our industry as a whole.”

“Having Art on the board brings a unique perspective and trustworthy voice to all our strategic discussions,” said MRED President/CEO Rebecca Jensen. “We’re honored to have him continue working with us and we know his valuable insights will go a long way in helping us forge new paths and provide the very best for our customers.”

MRED users will prospect better, thanks to Remine

Remine Lifestyle

If you’re still taking the “spray and pray” approach to your lead generation efforts, stop. MRED now offers something way better.

Let’s face it: Mass marketing, shotgun marketing whatever title you give it, you can’t call it a reliable strategy. Even if you’re lucky enough to score a usable lead from a 3,000-postcard campaign or a day of door knocking, they still aren’t time- or cost-effective methods.

That’s why hyperlocal targeting has become the standard in real estate marketing. That’s why focusing your limited resources on pursuing better leads is the only way to survive in an increasingly competitive market.

That’s why it’s the perfect time for Remine.

MRED is thrilled to launch this predictive analytics tool, a product that sorts through billions of data points and uses that information to highlight consumers who are likely to buy and sell. That means you’ll be spending less time chasing leads and more time closing them. And now you have this unprecedented opportunity at your fingertips in connectMLS. MRED is providing its subscribers with access to Remine’s starter plan, with upgrades available if you want to take your prospecting to the next level with additional tracking, filters, and discounts on purchasing contact information.

Take a closer look…

Key features:

Ownership time: The majority of homeowners move every 7-12 years. Visualize this data on Remine’s interactive map to see where future housing inventory and buyers might be coming from.

Remine

Last sale price: See trends of how much homes have sold for in your target markets.

Sell score: Remine uses property data to predict the amount of time remaining before a listing is put on the market. This information is broken down in categories ranging from 0-6 months to more than 2 years.

Home equity: This filter is available in upgraded plans and allows you to see consumers who have enough equity in their home to put their property on the market. Use this filter to better target homes for door knocking, cold calling, and email campaigns.

Consumer contact information: Once Remine helps you identify consumers who will need your services, you have the option to purchase household contact information a la carte.

So are you ready to pursue real leads? Are you ready to find opportunities that can actually turn into revenue? Are you ready to Remine? You can start here in connectMLS and click on Remine in the tools section. Want some more tips before you get going? Take advantage of the training options below.

Training:

Get started with this introductory video

Register for live Remine webinars below. These one-hour sessions will give you a walkthrough of the property intelligence platform as you learn how to best utilize its many tools.

Wednesday June 6 – 11:00 AM, Click here to register

Thursday June 7 – 6:00 PM, Click here to register

Tuesday, June 12 – 2:00 PM, Click here to register

Thursday, June 14 – 1:00 PM, Click here to register

Click here and select “Remine” or “Remine Online” under “Course” to register for MRED training.
For any additional help, you can chat with Remine’s support team by clicking the blue and white button on the bottom right of the screen when using Remine. And you can always contact MRED’s help desk by calling 630-955-2755 or sending us an email.

Map with prices and one listing

Commission policy updates coming to connectMLS

Important

You want your commission amounts to be more definite. We heard you and we’re making it happen!

Starting June 4th, 2018, Net Sale Price will be more clearly defined. For residential and commercial sales, the Net Sale Price will be the Gross Sale Price minus amounts to be credited or paid to the buyer as reflected in the initial contract.NetSalePriceField

This update mainly affects transactions where commission is influenced by concessions or other changes that were not a part of the initial contract. The rule modification is designed to protect broker commissions from last-minute concessions often introduced by attorneys and other third parties. It also honors the differences between commercial and residential transactions, allowing flexibility for the intricacies of those deals.

The option to pay on Gross Sale Price or a flat dollar amount is still available. Properties currently listed in connectMLS do not require any changes, i.e. listings already in the system are “grandfathered” in and will not be required to comply.

For rentals, the Net Rented Price will be defined as the Gross Rented Price minus amounts to be credited or paid to the tenant as disclosed in the agent remarks and/or compensation field on the listing. For commercial lease properties, net compensation may be paid on negotiated variables as indicated in the compensation/commission agreement.

These clarifications ensure all parties involved in a transaction know what they will be compensated. MRED does not influence commission payments in any way, so please refer to the FAQs on this topic below or contact your managing broker for questions on your office’s best compensation practices.

Still have questions? Check out these FAQs.

We’re always ready to help. You can contact MRED’s Help Desk at 630-955-2755 or send us an email.

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