The final full week of 2020 saw predictably decreased numbers across nearly all key metrics. New listings and listings under contract both fell to their lowest points of the year while outpacing 2019’s totals as they have for nearly all of 2020’s final quarter.
Learn more in MRED’s Weekly Market Snapshot.
2020 is a year most of us are ready to leave behind, so why not get started on your real estate resolutions for 2021? MRED has some exciting developments and opportunities planned for next year. Here’s a sneak peek at how you can grow your skills to save time and best serve your clients.
1. Listing input enhancements
It’s one of MRED’s goal to get the listing input process down to 15 minutes or less. That’s ambitious, but we think it’s attainable. A faster, easier listing input process is a direct benefit to you, so it’s more than worth pursuing. In 2021, we’ll be fine tuning the listing input setup to more closely match subscribers’ workflows. The result will be a faster, easier and more intuitive listing input process. More details coming soon!
2. MRED training to expand your knowledge
Stay ahead of the game by taking advantage of free MRED training! From listing to searching and everything in between, gain the skills and confidence to successfully tackle every part of your processes in the MLS. All sessions are available as on-demand webinars so subscribers can browse our library in the videos tab of our training website to learn at your own pace.
3. Use Remine’s tools to boost productivity
Your MRED subscription includes access to Remine Pro, which gives you in-depth public records and tax data all in one place. But that’s not all! You can also use Remine for its advanced lead generation tools that highlight consumers who are most likely to buy and sell. Remine also helps you easily track past clients and current leads.
4. The MRED Knowledge Base quickly solves problems
You don’t just work regular business hours, so you need support options that are available 24/7. MRED’s Knowledge Base meets this need and answers frequently asked MLS questions all in one place! Its support center capabilities to enter support tickets also makes it a one-stop shop for all questions on connectMLS and MRED rules.
5. Private Listing Network updates
MRED’s PLN provides a way to pre-market “coming soon” listings that might just be a coat of paint or the right photo away from being ready to share with the world. This tool is popular among MRED subscribers, and we’ve been listening to feedback on how to make it even better. In Q1 of 2021, private listings will be included in search results and you’ll be able to email PLN listings to clients*. Stay tuned for more details!
The market showed signs of slowing down for the holidays in the latest Weekly Market Snapshot. But, there are still signs of a strong start to 2021 as the number of homes under contract saw strong year-over-year growth.
Learn more in MRED’s Weekly Market Snapshot.
Chicago posted the largest year-over-year increase in prospective tenants actively seeking to rent an available property in Rental Beast’s database, according to the company’s December market report. The 378% jump more than quadrupled the next-highest increasing city.
The report also stated:
Nick Libert, CEO of Exit Strategy Realty in Chicago, is not surprised by strong Rental Inquiry rates. He believes a combination of optimism about the pending vaccine and greater job security for those working in tech and other non-service-oriented jobs have inspired Chicagoans to explore new living arrangements. Libert explains, “While there is enthusiasm for the vaccine, people realize they will still be working from home for the better part of 2021. Renters are looking to adjust or upgrade their living space to better accommodate their work-from-home needs”.
Rental Beast is an included MRED subscriber benefit. Its Apply Now tool simplifies the rental application process by providing background and criminal history checks for property owners.
Already using Rental Beast? Click here to get all your questions answered and access education resources including on-demand webinars, self-paced courses and how-to guides.
The number of listings under contract was one of MRED’s only key market indicators seeing week-over-week gains, according to the latest Weekly Market Snapshot from MRED. Not surprisingly, within MRED’s network there was a ninth consecutive week of declines in total listings. Learn more in MRED’s Weekly Market Snapshot.
The real estate market wasted no time bouncing back after the holiday week. The past week saw sharp increases in new listings, listings under contract, closed listings, open houses and median sales prices. One of the largest jumps came from new listings, which nearly doubled from last week. Get the full picture in our Weekly Market Snapshot.