MRED Blog
REinventing MLS
There’s a new game-changing Homesnap feature!
Click here to download Homesnap through the App Store or here to download through Google Play and search here on MRED’s training site for Homesnap courses to learn even more.
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.
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
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.
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.
Commission policy updates coming to connectMLS
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.
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.
MRED’s connectMLS just got even better
More and more real estate professionals are accessing connectMLS from mobile devices and Midwest Real Estate Data (MRED) is committed to continually improving the mobile experience. We’re excited to roll out some brand new performance and cosmetic updates to the mobile platform to make it even better.
These mobile-focused enhancements came straight from user feedback, so we think you’ll like them! Click on the titles below for the full details on each update, or click here to read up on everything that’s new.
The updates:
Enjoy quick access to all listing action icons on desktop
All of the listing action icons are now accessible above listing search results when your browser window allows for enough room. When the browser window isn’t big enough, the most common icons are shown, with the rest available under a “more” dropdown menu.
Combine CMA summary with Quick Stats access
Click the “Generate Statistics” icon from the search results page to open a report with combined access to both the CMA Summary and Quick Stats.
View consumer-facing reports directly from search results
You can see the search result reports as your consumers do with a new option to hide agent-specific details (agent remarks and office information). Use the “Client-Friendly” toggle switch at the top of the results to utilize this feature.
Wait… what’s the MRED PLN again?
Midwest Real Estate Data is dedicated to working for the greater good of real estate brokers both individually and collectively.
The connectMLS Private Listing Network (PLN) is a key piece of that goal.
Launched in 2016, the PLN benefits brokers on a personal level as it 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. It’s also good for the industry and keeps brokers relevant by retaining inventory in the hands of brokers so they are the first to know about listings for sale.
If you haven’t used the PLN yet, this spring season is a great time to start! Make sure you’re searching from the 1,800 listings currently in the PLN.
Using the PLN gives your properties more time in front of 40,000 real estate professionals without accumulating market time as you get the listing ready.
More benefits and details of the PLN:
- No price is necessary; you can feel out the market using a price range
- Only a select few fields are required
- Listings in the PLN do NOT appear in Standard Listing Network (SLN) search results
- PLN listings are NOT sent to third-party portals nor are they part of IDX/VOW listing distribution
- PLN listings are NOT included in emails to clients through connectMLS
- You can attach broker-only comments on the PLN listing (date available for showing, etc)
Inputting a listing in the PLN also saves you time, as you can create an SLN listing draft directly from the PLN and work on it from there. Once the draft is ready, you can publish it into the SLN without having to create a new listing or cancel the PLN listing, it will automatically reflect that it’s been transitioned. However, listings aren’t moved out of the PLN until they’ve been activated in the SLN.
It’s also important to remember the PLN rules and regulations. Just like with the SLN, you must have a signed agreement for any properties placed in the PLN. Listings must be entered into the PLN or SLN within 48 hours of the listing agreement or within 24 hours of advertising to the general public, whichever comes first. This advertising includes for sale signs, public-facing websites, and print media.
The PLN offers many benefits, whether you’re a listing agent looking to generate buzz about new construction months away from completion or a buying agent always wanting to stay one step ahead of your clients, take advantage of this resource today!
For more information on the PLN, watch this video overview or contact MRED’s Help Desk at 630-955-2755 or help.desk@MREDLLC.com.
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