MRED Blog
REinventing MLS
MRED Bringing Industry Headliners to MREDpalooza
Top MLS Industry Product Providers to Attend Chicagoland MLS’s Tech/Training Expo
LISLE, ILLINOIS (February 19, 2013) – Midwest Real Estate Data (MRED), Chicagoland’s multiple listing service (MLS), has announced that MREDpalooza, one of the largest MLS tech expos in the country, is scheduled for Tuesday, June 18, 2013. The event will be taking place at the Donald E. Stephens Convention Center in Rosemont, Illinois, from 9:00 a.m. to 4:00 p.m.
Providing services to nearly 40,000 real estate practitioners, MRED delivers over twenty products and services to its customers, complementing connectMLS™, the top-rated MLS system in the country per the latest WAV Group MLS Technology Survey. MREDpalooza will be a great opportunity for MRED customers to get up close and personal to a myriad of real estate service providers. The environment will be conducive to learning about its products and services and other ways to enhance their businesses.
MRED is planning for several thousand attendees and scores of vendors, many of whom have already committed to attending. Product training sessions will be offered throughout the day, providing more in-depth understanding of many of the products. Those wishing to attend or exhibit at MREDpalooza have been asked to visit www.MREDpalooza.com for registration and sponsorship information.
“It is exciting to stage an event of this magnitude that will benefit all attendees – our customers as well as our important business partners,” said MRED CEO Russ Bergeron. “The opportunity to gain a deeper understanding of all these great products and services, at an excellent and easily accessible venue, will be invaluable to the real estate professional. Our product partners and other participants will enjoy maximum exposure to thousands of brokers and appraisers. This will be the real estate technology event of the year.”
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. For more information please visit www.mredllc.com.
Is Homeownership a Good FINANCIAL Decision?
Many have reported on Robert Shiller’s recent comments on the investment aspect of home-ownership. Shiller, a Yale professor and co-founder of the Case-Shiller Home Price Index, is famous for making provocative comments on house prices and the financial benefits of owning a home. In a recent Bloomberg Television interview, Shiller responded to a question about home-ownership as an investment this way:
“So, why was it considered an investment? That was a fad. That was an idea that took hold in the early 2000′s. And I don’t expect it to come back. Not with the same force. So people might just decide, ‘Yeah, I’ll diversify my portfolio. I’ll live in a rental.’ That is a very sensible thing for many people to do.”
To read the three FINANCIAL reasons to purchase a home by the KCM Blog, click HERE.
Short Sales – 10 Common Myths Busted
It’s likely you’ve heard the term “short sale” thrown around quite a bit. What exactly is a short sale?
A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is not a new practice; banks have been doing short sales for years. Only recently, due to the current state of the housing market and economy, has this process become a part of the public consciousness.
To be eligible for a short sale you first have to qualify!
To qualify for a short sale:
- Your house must be worth less than you owe on it.
- You must be able to prove that you are the victim of a true financial hardship, such as a decrease in wages, job loss, or medical condition that has altered your ability to make the same income as when the loan was originated. Divorce, estate situations, etc… also qualify. There are some exceptions to hardship now, but for the most part the bank or investor will need to verify some type of hardship.
Now that you have a basic understanding of what a short sale is, there are some huge misconceptions when it comes to a short sale vs. a foreclosure. We take the most common myths surrounding both short sales and foreclosures and give a brief explanation. LET’S BUST SOME MYTHS!!
To read the 10 Common Short Sale Myths Busted by the KCM Blog, read the full article HERE
What Facebook’s New Graph Search Means for Real Estate
Ever since Facebook announced their new Graph Search on January 15, we’ve seen a lot of advice on how to optimize your real estate business page. And with good reason–Graph Search is a different kind of search that requires a different kind of strategy. Instead of searching the web and returning links, Graph Search searches the tags and likes of its users and returns photos, liked pages, statuses and beyond.
This means that Facebook members can search for (for example) “Italian restaurants my friends like” and see a list of Facebook pages for Italian restaurants that those in their network have liked. It’s instant social proof of what restaurants are best, according to the searcher’s unique social circle.
Think of what this means for real estate. If someone wanting to buy or sell a home is looking for a real estate agent, they can use Graph Search to search “real estate agents my friends like.” Those agents who turn up in the results may very well be considered more trustworthy and worth contacting than those found in a simple web search. Why? Because the searcher’s friends are providing a recommendation, of sorts, for those agents by having liked those agents’ pages.
Because Graph Search is a whole new ball game, meta tags and keywords won’t help you here. Here are a few tips to “optimize” your Facebook page:
- Make sure your page is categorized correctly. Be sure your page is tagged as a “real estate agent” so you can be found in searches for agents.
- Update your location. Graph Search lets users narrow searches geographically, e.g., “real estate agents in Miami that my friends like.” Be sure the area you serve is noted on your profile.
- Build an engaged fan base. Keep putting out great content that your fans will like, share, and interact with. Every action they take is another chance for your page, statuses, photos, videos, etc. to appear in search results.
Identify Leads With Precision
Graph Search not only gives potential clients a way to find you, it can also help agents pinpoint leads.
Let’s say you have a townhouse for sale in an upscale urban area. You can identify potential leads by searching the Graph for pages they like. What attractions are near the property? If you’re looking for young families who may be interested in the area, try searching for “people who like the Ann Arbor Hands On Children’s Museum,” for example.
Have a rural listing you’d like to find buyers for? Search interests like hunting, snow mobiling, or other outdoor interests. Leads for waterfront property can be found with similar searches for boating, water skiing, fishing, etc.
Looking Ahead
The possibilities of Graph Search are endless. You can search any combination you can dream up, including pages liked, photos liked, photos shot in a certain location, videos and statuses that individuals are tagged in, and much, much more. You’ll be able to see results from friends, friends of friends, and the public, depending on each individual’s privacy settings.
Facebook plans to roll out Graph Search very gradually. While it’s only available to a limited number of users at the moment, you can prepare now for the Search’s debut by using the tips above.
Negative Equity: The Latest Statistics [Infographic]
MRED CEO Bergeron Retains Spot on Inman News Honor Roll
LISLE (January 22, 2013) – At last week’s Inman Real Estate Connect® in New York City, it was announced that Russ Bergeron, Chief Executive Officer of Midwest Real Estate Data LLC (MRED), has again been selected as one of the top 100 most influential real estate leaders.
The Inman 100 is an annual list of individuals whose actions have helped change the real estate industry in the last year through their leadership, innovation, ingenuity, power and persistence. The complete list of honorees is available on www.inman.com/Inman100. Mr. Bergeron has been selected for the Inman 100 every year from 2009 through 2013.
“Russ Bergeron was brought on board because of his national profile and the influence he wields across the country,” said Rob Schaid, President of MRED. “On behalf of our leadership, we congratulate Russ and could not be more pleased that he continues to be recognized as a force in our industry.”
“I am honored to once again be recognized by Inman News,” said Mr. Bergeron. “It is gratifying that the hard work done by everyone here at MRED results in recognition from such a respected organization. I look forward to the continuation of our efforts to lead our industry forward; and to creating opportunities for all the real estate professionals served by MRED in what appears to be a recovering and dynamic real estate market.”
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. For more information please visit www.mredllc.com
About Russ Bergeron
Please click HERE for the biography of Russ Bergeron.
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