MRED Blog

REinventing MLS

Category Archives: Marketing

Do you use exempt forms? You’ll want to read this…

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MRED provides a Listing Exemption form as a way to document properties that are being withheld from the multiple listing service at the specific request of sellers. The only time an exemption form should be used is if you have a listing that you are not publicly marketing.

Exemption forms do not allow for listings outside the MLS to be publicly marketed.

Examples of publicly marketing a listing:

  • For sale signs
  • Coming soon signs
  • Public-facing websites
  • Print media

So where can you input listings that your seller doesn’t want in the Standard Listing Network (SLN)? The Private Listing Network (PLN) provides an option that meets all the requirements.

PLN listings can be openly advertised and do not appear in traditional SLN search results. Additionally:

  • PLN listings are not sent to third-party portals or distributed through IDX or VOW.
  • PLN listings are not included in emails to clients through connectMLS.

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Any listing that’s being publicly marketed must be in the SLN or PLN within 24 hours of the marketing going public to avoid a $1,000 fine. This works to ensure that all agents have access to information about any listing a client might happen to come across and inquire about.

You can view the entire listing exemption policy in connectMLS here

Read up on more information about the PLN here

Compare and contrast the PLN, SLN, and exempt listings here

Still have questions? The best bet is always to check with our Rules and Regulations Department. You can reach them by email here or by calling 630-955-2755.

Why You Should Hire a Real Estate Professional When Buying a Home!

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Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to go it on their own. In today’s market: you need an experienced professional!

You Need an Expert Guide if You Are Traveling a Dangerous Path

The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and ready for you to move in to can be tricky. An agent listens to your wants and needs, and can sift through the homes that do not fit within the parameters of your “dream home.”

A great agent will also have relationships with mortgage professionals and other experts that you will need in securing your dream home. 

You Need a Skilled Negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family?

If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer or seller in your deal. 

Bottom Line

Famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money…not cost you money.

Blog Post via KCM Blog

Social real estate marketing – remember talking to people?

By:  Mike Scotty

Every so often we stop and think, “Geez how did we ever get anything done before the internet?”   Well, we did.  And funny thing about that is that, especially in marketing, the fundamentals haven’t changed.  The tools have.  Reach and frequency – you identify your target audience and you reach out to them at regular intervals with the right message.  Eventually when one of those prospects thinks of real estate, you come to mind.

 I had the chance to talk to a local Chicago Realtor this week who told me that her consistent use of Facebook alone had built her a steady stream of referrals and a sale every couple of months.  But she probably doesn’t do it in the way you’d expect.

 Eileen has built her fan base up to over 500 Facebook friends that include personal and professional acquaintances, aka her sphere of influence.  She doesn’t post new listings on Facebook, she doesn’t advertise open houses and she doesn’t ask directly for business.  She tried building a business page for a while, but felt it was too contrived and went back to focusing on her personal page.

 What Eileen does is talk to her sphere.  She posts her status and photos, joins groups and talks about what she’s doing day-to-day.  Because she’s a busy Realtor – the real estate angle works its way into the conversation – “I’m between appointments and trying to get tonight’s dinner figured out”, “I’m sitting an open house and can’t believe the traffic”, “I just saw the most gorgeous house that went on the market this week”.  Never the hard sell.

 Every one of her friends knows that she’s a Realtor and knows that she’s busy.  And when they’re looking for a real estate expert, Eileen comes to mind.

 Remember talking to people? Lots of people?  We’re just doing it in a different way now.

 Eileen commented on how people who are house-bound, taking care of a family or in a home-based business can really make a connection and build a solid friendship with you on Facebook.

Think about the things you know about your friends and acquaintances that you’d never know were it not for Facebook. If you’re a Realtor, perhaps you should make sure your friends know what you do – conversationally.

Technology Can Help Build Connections

From our friends at RETechnology

Real Estate Marketing: Connecting with Internet Savvy Consumers

Here is some good advice regarding real estate marketing from our friends at CoreLogic . . .

Want to be the Expert in Your Market? Start Mapping!

Click HERE to read a recent blog from our friends at Digital MAP — BUT ONLY if you want to be the expert in your market . . .