MRED Blog
REinventing MLS
Midwest Real Estate Data Offers Service to Speed Up Short Sales
Midwest Real Estate Data LLC (MRED) has announced it has entered into an Agreement with Fannie Mae to provide its customers the Fannie Mae Short Sale Assistance Desk (“Assistance Desk”).
The Assistance Desk provides brokers and agents the ability to significantly shorten the time they have to wait for approval from Fannie Mae on short sale transactions. It helps real estate professionals with the handling of post-contract issues such as loan servicer responsiveness, the existence of a second lien or issues involving mortgage insurance.
By collecting and submitting information via a streamlined service provided through MRED, Fannie Mae has the data to help improve valuations and make quicker decisions regarding short sale requests. Currently, gaining an approval to proceed with a short sale transaction can take months. The Assistance Desk expedites the process so that a real estate professional will receive an initial response within one week confirming that the case has been reviewed.
Agents in other marketplaces have just begun to experience the benefit of using the Assistance Desk. “I have used the Assistance Desk and it was extremely helpful. They helped revive this transaction and we are set to close,” said Jason Kaspar of Prudential Sierra Nevada Properties, in Reno, Nevada. “The Fannie Mae Short Sale Assistance Desk helped my seller and me get results even after we felt like we had hit a dead end with the lien holder,” said Damian Janssen of Keller Williams Group One in Sparks, Nevada. “We were at the point where we could not even get through on the phone and were about to give up hope. After we engaged the Assistance Desk, a senior negotiator from the lien holder contacted me, falling all over himself with apologies and promises to help. We had short sale approval just 27 days later and my client is thrilled that he gets to open a new chapter in his life.”
“The Fannie Mae Assistance Desk is amazing,” said Marty Hunt, of Orlando, Florida. “I submitted a request Tuesday and had two calls from the lender the next day. I was in the field showing houses but she called the second time because I had not called her back quickly. That’s what I call responsive! And she couldn’t have been more helpful.” Michele Herdon of Keller Williams in Tampa, Florida, said, “This was a fantastic experience. Reps were helpful and responded quickly to emails and phone calls. We got this issue resolved quickly and painlessly, many thanks to this process!”
“We are thrilled to be able to provide to our brokers and agents an extremely effective way to speed up the short sale process at no cost to them,” said Russ Bergeron, MRED CEO. “Our customers now have an escalation procedure to help facilitate and streamline short sales for many of their transactions. We are pleased this partnership with Fannie Mae will help provide an improvement in the accuracy of Fannie Mae’s property valuations and a related gain in the efficiency of short sale approvals.”
“Long approval delays increase the risk that a buyer will walk away,” said Dean Rouso, President of MRED. “Long approval times on short sales overall have led many potential buyers to avoid short sale listings altogether. By providing the Assistance Desk, MRED is helping to support the recovery of distressed communities and is providing a benefit to homeowners and the real estate professional community.”
About MRED
Midwest Real Estate Data (MRED) is a real estate data aggregator and distributor that provides the largest multiple listing service (by listing volume) to over 40,000 customers, with property information encompassing northern Illinois, southern Wisconsin and northwest Indiana.
Midwest Real Estate Data Reaches Groundbreaking MLS Data Syndication Licensing Agreement with Onboard Informatics
Midwest Real Estate Data (MRED) has announced an agreement to license Listings 360°Insight, Onboard Informatics’ real-time, integrated API data distribution, tracking and business intelligence system, to power its listings distribution efforts.
Designed for an MLS to install as its primary mechanism for authorizing and enabling access to listings information for use on websites, the platform has been successfully utilized by Onboard Informatics (Onboard) with real estate industry clients for more than two years. MRED is the first MLS client for the Listings 360°Insight platform.
“Our industry is experiencing both the benefits and challenges of internet data distribution,” says Russ Bergeron, CEO of MRED. “However, the current methods with which we distribute listing content to online publishers and syndicators have resulted in far reaching negative consequences. Together with brokers, we struggle to overcome the problems of diminished data integrity, misuse of brokers’ listings and a lack of real-time reporting and analytics that would enable us to understand what’s working and what’s not; but real solutions are not possible within the current model. It is time to evolve and innovate.”
“We’re proud to partner with MRED and lead positive change”, states Jonathan Bednarsh, COO and President of Onboard. “Russ Bergeron is known for progress and innovation in our industry; our teams and goals are very much aligned. Listings 360°Insight will lead MLSs to a new phase of listing distribution where today’s pains are diminished, processes are simplified, data is secured, business intelligence is derived and opportunity becomes a reality. Everyone benefits – and that is truly exciting.”
When an MLS licenses the Listings 360°Insight platform from Onboard, they receive 3 components: (1) The Search API is a real-time, authenticated request and response system to access the listings data from a secure environment; (2) The Tracking API provides the MLS with the ability to collect real-time information on the use of licensed data including identification of websites upon which MLS data is being displayed; and (3) The Visibility Portal which is a reporting compilation built on the treasure trove of valuable information captured by the Search and Tracking APIs – invaluable in helping MLSs, Agents, Brokers and Developers improve their businesses.
“With a history of stellar performance in our industry and the technology platform already in place, Onboard is poised to partner with us and lead change in our industry,” says Bergeron. “MRED and Onboard will work closely with key partners along the way and look forward to launching later this year.”
About MRED
Midwest Real Estate Data (MRED) is a real estate data aggregator and distributor that provides the largest multiple listing service (by listing volume) to nearly 40,000 customers, with property information encompassing northern Illinois, southern Wisconsin and northwest Indiana.
About Onboard Informatics
Since 2001, Onboard Informatics has provided comprehensive local, regional and national real estate data solutions, powerful Web tools and Web services to some of the most innovative companies in the real estate, publishing, and technology sectors. Onboard is the pioneer with providing Lifestyle Search while also delivering seamless integration of property listings, community, school, neighborhood, geographic and demographic information, supporting clients in achieving business objectives on Web and mobile platforms. Privately held since its founding, Onboard is located in the heart of the world’s financial center in the Wall Street area of New York City. For more information about Onboard Informatics visit http://www.onboardinformatics.com.
Midwest Real Estate Data Announces Agreement to Go Mobile with Goomzee
Midwest Real Estate Data (MRED) has announced an agreement to license Goomzee’s Realty Connect® product and revolutionize how Chicago area home-buyers and sellers access real estate listing information on their mobile phones. Goomzee’s text message marketing and lead generating QR code technology will be provided as a benefit to MRED’s nearly 40,000 customers.
Goomzee’s Realty Connect helps connect buyers and sellers using mobile technologies and will integrate with MRED’s connectMLS™ system. Agents place signs or ads regarding a property for sale that prompt potential buyers to send a text message or scan a QR (Quick Response) graphic. Within seconds the buyer receives a response containing property information, pricing and photos. At the same time, the agent is notified of the buyer’s inquiry. Automated tools then help the agent screen and cultivate those leads to establish a relationship with the buyer.
Russ Bergeron, CEO of MRED, said, “One mission of MRED is to provide our members with the best tools and information available in the industry. Providing consumers with access to real estate listing information while on-the-go has become mission critical to support our customers’ success, and Goomzee’s mobile solutions will improve our brokers and agents’ productivity, professionalism and relationships with buyers and sellers.”
“We are excited to be chosen by MRED and look forward to adding further value and efficiency to their members,” states Goomzee CEO, Mike Sparr. “By offering consumers instant access to the information they need using text messages, QR codes, and the mobile Web, agents can promote their listings to more potential buyers, cement their position as the trusted source of local real estate information, and close more transactions.”
About MRED
Midwest Real Estate Data (MRED) is a real estate data aggregator and distributor that provides the largest multiple listing service (by listing volume) to nearly 40,000 customers, with property information encompassing northern Illinois, southern Wisconsin and northwest Indiana.
About Goomzee
Goomzee provides mobile technology tools that allow real estate agents to deliver property information to a buyer’s cell phone while they are standing at the property or on the go and helps convert more leads into sales. With the company’s industry-leading product suite, Realty Connect, Text Message and QR Code marketing, and Mobile Property Pages, are automatically generated and reusable. To learn more, visit us online at http://www.goomzee.com or contact us toll free at (877) 324-1796.
Midwest Real Estate Data and Workforce Resource Announce Down Payment Assistance Initiative
Midwest Real Estate Data LLC (MRED) (www.mredllc.com) and Workforce Resource, LLC (WFR) (www.workforce-resource.com) announced today that the organizations have entered into a contract to integrate WFR’s Down Payment Resource product (www.downpayment-resource.com) with MRED’s listing data.
Down Payment Resource is the first product to aggregate down payment assistance program information into one platform and integrate that information into a multiple listing services’ listing data. It connects eligible homebuyers and properties with government-funded programs for down payments, affordable mortgages and rehab loans.
“MRED is very pleased to be able to provide our brokers and agents a tool that enables them to identify listings that qualify for down payment assistance programs and help buyers determine their potential eligibility for those programs,” said MRED’s Chief Executive Officer, Russ Bergeron. “In today’s environment, prospective purchasers face new, stricter requirements to obtain a mortgage. Down Payment Resource helps both potential buyers and the real estate professionals serving them. It is truly a winning proposition for everybody involved. This is just one more example of MRED’s dedication to offering its customers no cost applications that enable them to put people in homes they might otherwise not be able to afford.”
The tool is easy to use. As agents search the MRED MLS database or as homebuyers search for properties in MRED’s broker and agent websites, homes eligible for down payment assistance will be clearly marked with the Down Payment Resource’s icon. Clicking on the icon allows the buyer to answer eight simple questions to see if they meet qualifications for available down payment assistance programs. Agents and brokers will have access to more detailed information about all the programs for which their property or their buyer might be eligible.
“A cornerstone of our value proposition is that everyone who uses this service wins,” says real estate and lending industry veteran Rob Chrane, founder of WFR. “While homebuyers are the ultimate beneficiaries, real estate agents and builders sell more homes; lenders make more loans; and housing finance agencies meet their missions in a time of dwindling resources. We’re very pleased to partner with MRED’s forward thinking leadership to provide their members with the tools to assist more homebuyers in finding affordable homes to purchase and live in for years to come,” said Chrane.
About MRED:
Midwest Real Estate Data is a real estate data aggregator and distributor that provides the largest multiple listing service (by listing volume) to over 40,000 customers, with property information encompassing northern Illinois, southern Wisconsin and northwest Indiana. (www.mredllc.com)
About Workforce Resource:
Founded in 2008, parent company Workforce Resource® is a web-based software company whose mission is to connect people with hard to find financial resources for better living. In 2010, the company launched “Down Payment Resource” as an extension of its offerings to turn potential home buyers into qualified buyers by connecting them to buyer assistance funding they may not have otherwise known existed. (www.workforce-resource.com)
Are You Doing Business or Just Staying Busy?
Real estate professionals – we are in a world where everyone is busy, busy, busy . . .
Talking on the phone is the least of it. Texting, social network posting, blogging – we’re all just communicating like it’s going out of style. If we’re not communicating, we’re surfing the Internet, looking at websites, and being cutting edge, i.e. staying on top of as much information as we can possibly absorb. When we’re not communicating or surfing, we’re attending – conferences, meetings, conventions, etc.
I have some questions about this – what are you doing to get a listing? What are you doing to sell the listings you have? What are you doing to find a buyer, or find a home for buyers you are already working with?
What are you doing to make money?
Don’t get me wrong. I understand that a big part of building your business is creating relationships, staying on top of what’s happening in your community, training and education, and other things mentioned above. This is not a post about avoiding any of those things. It is a reminder that all of those things are supposed to ultimately lead you to acquire buyers and sellers and do real estate deals. And, while you get satisfaction from all sorts of things in real estate transactions, you also get something else – paid.
Don’t be too busy to get yourself paid.
But how do you keep up with all the ways information is made available to us today? We’re on overload! Simple answer – you can’t. So you do the best you can, and make sure you fit in those activities which keep you as the expert in your neck of the woods and keep you trained up on everything you need to know. You may have to drop some other stuff which feels important and is a part of your real estate business, but really doesn’t make you any money or improve your ability to make money in the future.
OK – got to go. Busy, busy, busy helping to REinvent MLS . . .
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