MRED Blog

REinventing MLS . . .

Category Archives: connectMLS

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.

connectmls

MRED’s connectMLS just got even better

connectmls

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.

All Icons

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.

CMA: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.

Consumer-Facing

There’s even more: Read all the updates

Wait… what’s the MRED PLN again?

PLN cover.jpg

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.

connectmls

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 72 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.

 

When You Display Affordability on Your MLS Listings, Great Things Happen…

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More than 11,000 MRED Agents are gearing up for Spring market with RatePlug

RatePlug lets you share home payment affordability factors directly to your clients within listings. This can get your buyers to start asking questions about their financing earlier to help avoid issues such as failed closings.

  • •Displays only your trusted lending sources
  • •Displays calculations based specifically on the listing being viewed
  • •Delivers interactive, real-time mortgage programs, payments, and qualifying information to the agent’s clients
  • •Identifies special financing options available (FHA, VA, USDA, etc.)
  • •Includes Property Flyer Program for your listings.

Click here to learn more or sign up for this tool that is included for FREE as part of your core MLS Subscription!

MRED Continues to Meet the Standards

Chicagoland MLS Giant Now Certified on latest version of RESO Data Dictionary

LISLE, ILLINOIS (APRIL 13, 2015) – Midwest Real Estate Data (MRED), Chicagoland’s multiple listing service (MLS), has announced that the Real Estate Standards Organization (RESO) has certified MRED for RESO Data Dictionary 1.3.

RESO is an organization that develops, adopts and implements open and accepted data standards and processes across all real estate transactions and provide an environment for the development and implementation of data standards and processes. RESO’s Data Dictionary serves as the real estate industry’s “Rosetta Stone” for real estate data. While hundreds of MLSs and other source providers gather data, the Data Dictionary ensures that each system “speaks” the same language.

As MLSs across the industry adopt RESO standards, the industry will move towards an environment where real estate software becomes plug-and-play. Realtors® will be able to purchase off the shelf software and it will plug into any MLS that has implemented RESO standards.

This is quite different than the state of the industry today, where it is extremely hard for new software to be used from one market to the next. It will be easier for real estate professionals to use MLS data in the products that they choose. They will have better options and the data that flows through their systems will be more accurate because the Data Dictionary negates the need for translation from one system to the next. RESO standards give more options and control to Realtors®.

MRED’s commitment to RESO is evidenced by being its first Charter Member and its continued participation in and support of data standardization efforts. These efforts are important to MRED customers, the real estate industry in general, and the consumer. MRED and other organizations that maintain these standards can more easily exchange information without degrading or losing data, resulting in more accuracy and less cost. New applications and services are developed because there is a wider audience to offer them to.

dynaConnections, MRED’s MLS vendor, also has a strong commitment to RESO. As another Charter Member of the organization, dynaConnections dedicates significant resources and time to remain on the front line of RESO initiatives. Technologists from both MRED and dynaConnections have worked closely to attain not only the Data Dictionary 1.3 certification but also to maintain MRED’s Real Estate Transaction Standard (RETS) Server certification.

“We’re proud supporters of RESO and firm believers in the long-term power in its mission,” said dynaConnections CEO, Tim Ford. “The organization is making great strides towards bettering the industry, and we’re happy to contribute in any way possible”.

“I have a deep commitment to RESO, having served as its Board Chair for four years,” said MRED President and CEO Rebecca Jensen. “RESO is important to me and to MRED. We will continue to support the setting of standards, and the providing of data and tools needed to meet the demands of real estate professionals and consumers alike.”

About MRED

Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to nearly 40,000 brokers and appraisers and 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 two years running according to the WAV Group MLS Technology Survey. MRED is the 2013 Inman News Most Innovative MLS/Real Estate Trade Association, and for four 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. For more information please visit MREDLLC.com.

About dynaConnections Corporation and connectMLS™

dynaConnections Corporation is an Austin-based real estate software company that is renowned for constant innovation and dedication to service. Its flagship product, connectMLS™, is a patent-pending, one-of-a-kind multiple listing service solution that is second to none with millisecond response time and ease of access on all devices and web browsers. Rich embedded features and seamless integrations allow connectMLS to be an intuitive, all-in-one real estate transaction manager for both agents and clients. For over thirteen years, dynaConnections and the connectMLS solution have been continually exceeding all standards of what the real estate industry expects from an MLS provider. For more information, visit: http://www.dynaconnections.com.

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dynaConnections and connectMLS™ are registered trademarks of dynaConnections Corporation. All other company and product names may be trademarks of the respective companies with which they are associated.