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The market is moving quickly in the first weeks of 2021, as evidenced by a notable jump in listings under contract. The market saw a 32% week-over-week increase and a 37% year-over-year jump in listings under contract during the second full week of January.
Median prices across MRED’s network showed substantial gains in the first full week of January, soaring more than $40,000 over median prices for the same time last year. The increase coincides with historically low inventory numbers.
The start of the new year saw a 45% week-over-week increase in new listings across MRED’s market. The weekly rebound fell 15% short of the previous year’s numbers during the same period, although open houses nearly doubled week-over-week, signaling a potential strong start to the year. Learn more in MRED’s Weekly Market Snapshot.
The final results of MRED’s Board of Managers elections were completed Dec. 15, with one incumbent member returning and four new members joining the Board.
MRED’s Preferred Unit Owners (PUOs) have the opportunity to nominate candidates to serve on MRED’s Board. The members of one of three categories (based on annual transaction count) may vote on the nominees in their respective category. Additionally, two Board seats are reserved for REALTOR® association executives.
The following people were elected to the Board:
Fran Broude – Compass
Broude is senior managing director for Compass Midwest and has more than 20 years of senior leadership experience with residential real estate sales teams. Re-elected for this year, she’s served a total of nine years on MRED’s Board of Managers. Broude served as senior vice president of strategic initiatives for Coldwell Banker/NRT and was president/COO of the local operating company for Coldwell Banker Residential Brokerage/NRT.
Tommy Choi – Keller Williams ONEChicago
Choi co-founded the Weinberg Choi Residential team in 2007 and served as the 135th president of the Chicago Association of REALTORS®. He has held numerous committee positions with Illinois REALTORS® and was the chair of the National Association of REALTORS® YPN Advisory Board. In 2021, he will serve as NAR’s vice president of association affairs.
Debbie Hymen – Real Deb Realty
Hymen has more than 20 years of real estate experience and is the designated managing broker of Real Deb Realty. Hymen has been active with MRED as a Preferred Unit Owner and opened Real Deb Realty in 2018. Hymen began working with MRED as part of the Compliance User Team in 2007 to help shape the MLS’ policies.
Pradeep Shukla – RE/MAX Renaissance
Shukla began his career in real estate in 2001 and has been a managing broker at RE/MAX Renaissance since 2013. He has served as National Association of REALTORS® director and has been on numerous committees for Illinois REALTORS®. Shukla is a past president of the Mainstreet Organization of REALTORS®.
Also beginning their terms in January are two REALTOR® association executives. Jim Haisler, CEO of Heartland Realtor® Organization, and HomeTown Association of REALTORS® Association Executive Heather Wiedrich, will serve on the 2021 Board. Haisler is chair of MLSNI, MRED’s parent organization. Weidrich replaces Chris Studebaker, CEO of REALTOR® Association of the Fox Valley, who finished his term.
Others serving on the Board are: Chad Gilbert, RE/MAX Suburban; Drussy Hernandez, Fulton Grace Realty; Jeff Gregory, Realty Executives Success; Luigui Corral, RE/MAX American Dream; Lynn Madison, Lynn Madison Realtor®; Molly Ryan, Berkshire Hathaway HomeServices Chicago; Royal Hartwig, The Royal Family Real Estate; Sue Miller, Coldwell Banker The Real Estate Group; Sue Wiskowski-Fair, Realty Executives Premier.
The Board selected its executive committee at the January Board meeting:
- Chair: Jeff Gregory
- Vice chair: Lynn Madison
- Secretary: Molly Ryan
- Treasurer: Sue Wiskowski-Fair
Art Carter of California Regional Multiple Listing Service will continue to serve as Board strategic manager in 2021. Strategic Manager Jeremy Crawford of First Multiple Listing Service in Atlanta has completed his term on the Board. The Board named Northwest MLS President/CEO Tom Hurdelbrink as the second strategic manager for 2021 at its January meeting.
MRED would like to thank the Board’s outgoing members for their service. In addition to Studebaker and Crawford, they are:
- Al Rossell of the Jack Carpenter Organization
- Michael Emery of Corcoran Urban Real Estate
- Paul Wells of RE/MAX of Barrington. Wells served as MRED Board chair in 2020.
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!