Report Issue Button a Boost for Data Accuracy

ReportIssueButton

RMLS™ subscribers got an easier way to communicate with us about data inaccuracies when the Report Issue button (above) was added to the bottom of all Agent Full reports during our RMLSweb system improvements in January.

RulesButtonReportSince it was released on January 30th, more than 2,000 issues have been reported (averaging about 400 per month)!

If you haven’t yet explored this feature, when the Report Issue button is clicked a form pops up with the listing number and other identifying information already filled in (right). There is a menu of 12 options that can be selected.

Look below to see how the options ranked in the number of reports we have received.

RulesReportsJuly2013

Other is partly a catch-all of general inquiries, but one category that comes up frequently is corrections to the Comparable Information section for sold listings. We have even received compliments for the listing agent in this category. We were thrilled to read this issue report:

Please let the listing agent know what a great job she did on this listing. All the information is there that I need to help my client.

Vallerie Bush and Wanda Kennedy make up the RMLS™ team that ensures all reported data inaccuracies get resolved, and they are enthusiastic about this boost for RMLS™ data accuracy. (In addition to responding to issues reported through the Report Issue button, they field many phone calls and emails.) Wanda says:

I have only heard good things regarding the rules button. The subscribers say it saves them so much time. When they see something wrong with a listing they can send it in right then and there. I think it was a great idea!

Vallerie adds,

It is faster and more convenient to send a rules violation to RMLS™. I like it because it usually has most of the information needed when processing.

Keep the reports coming! Accurate data helps all of our subscribers and the buyers and sellers they serve.




Six Ways REALTORS® Can Observe Earth Day

Citizens of the Pacific Northwest are renowned for a commitment to living green, whether we’re walking our kids to school or composting our kitchen scraps.

How can REALTORS® do their part in maintaining the clean, natural beauty that makes our region such a joy to inhabit? In observance of Earth Day (April 22), we’ve compiled six ideas for real estate professionals who may be looking for ways to be a little more Earth-friendly.

1. Educate yourself!
In the RMLS™ region, educating yourself about sustainability can easily translate into more business. Consider earning a Green Designation from the National Association of REALTORS®—to celebrate Earth Day, in April they’re offering 25% off the course bundle. Or consider taking a course from Earth Advantage Institute, who trains real estate professionals to market and sell green homes.

2.  Encourage clients to make energy efficiency upgrades in their homes.
Energy-efficient homes can mean lower utility bills, rebates, tax credits, and more! Energy-efficient homes are also much less likely to go into default, and are highly desirable to home buyers.

3. Consider everyday business practices.
Real estate can generate a lot of paper, other waste, and require a lot of travel. Could you send a PDF rather than printing out a client report? Print marketing materials on recycled paper with soy-based (rather than petroleum-based) inks? Reducing or batching car trips is another tactic that’s good for both the planet and your business—less money spent on gas means more money in your pocket! And if you’re one of the northwest’s many coffee fiends, bringing a reusable mug to your morning java joint is one of the easiest ways to reduce landfill waste.

4. Attend sustainability-minded conferences.
The Better Living Show in Portland is a great place to learn about sustainable products for the home and garden. Likewise, GoGreen is a meeting of sustainability oriented businesspersons, with yearly events in both Portland and Seattle. These events also offer a great opportunity to hear about like-minded vendors and network with potential clients!

5. Take care of green infrastructure in your community.

RMLS™ is contacted regularly by government staff members hoping to reach out to REALTORS® about community facilities. You may not be familiar with green street facilities, multi-use paths/bikeways, and other green infrastructure, but they’re important to the health of the community! They provide community benefits such as reducing traffic congestion, absorbing on-street floods, and providing a more livable community. When you encounter these facilities, avoid disrupting them by placing for sale signs in the public way, as we advised in this recent article about buying and selling a house with green street facilities.

6. Be a recycling resource.
People who are moving from one house to another will have stuff they need to get rid of. Brokers can help clients by providing resources for recycling or reusing goods. Thrift stores, Freecycle, or non-profits such as Dress for Success can utilize clothes and other household goods. Many (but not all) charities accept car donations. Local governments can put people in touch with companies that recycle nearly anything (Clark County and Metro, for example).

There are plenty of ways you can help keep our region’s environment healthy—all it takes is the choice to do so. If you’re interested in cultivating environmentalism in real estate and you’re a member of the Portland Metro Association of REALTORS®, consider getting involved with their sustainability committee—or start one at your REALTOR® association!

Do you have any Earth-friendly tips for fellow REALTORS®?




New Construction Infographic

Time for another infographic! We’re taking a look at new construction in this one. Pictured below is the Portland Metro New Construction Infographic but you can also check out: All Areas, Clark County, Douglas County and Lane County.

We’ve been receiving wonderful feedback from you on our previous “Actives” infographic — thank you!

 




Snapshot – Active Residential Listings

After posting the distressed property charts, we thought it might be fun to put together some stats on active listings. The Portland Metro area is pictured here but you can also check out: All Areas, Clark County, Douglas County and Lane County.




INFOGRAPHICS: Distressed Properties in 2010

See a visual representation of distressed properties in our market!

One request we’ve frequently gotten from subscribers is to display data on Short Sales and Bank Owned properties. As a result, we have created brand new infographics to show how distressed properties identified as Short Sales or Bank Owned were represented in the 2010 housing market. This is the first report in an ongoing series that will show you how our local market has been affected by the economic downturn.

(Click the image to enlarge)

The above infographic shows a visual representation of the number of Bank Owned and Short Sales in all areas in the RMLS™ system during 2010. The top half shows new listings and sales for the entire year, while the bottom half shows new listings and sales by quarter. To download or print the infographic, click here.

Below are links to additional infographics for some of our larger areas:
Portland Metro
Clark County, WA
Lane County, OR
Douglas County, OR
*If you want information on percentages of distressed sales in other areas not represented by our infographics, please contact us at communications@rmls.com.

As can be seen from the above infographic, the percentage of distressed sales within the overall housing market greatly increased in closed sales compared to new listings. Additionally, the amount of Short Sales decreased by more than a third when comparing closed sales with new listings. The quarterly trend shows an increase of new listings which were distressed, particularly in Quarter 3 and Quarter 4. Looking at sales, Quarter 2 and Quarter 3 both show decreases in distressed sales compared to Quarter 1, and Quarter 4 ended with only a 0.1% rise in distressed sales compared with Quarter 1.

Here are some additional facts about distressed properties in 2010:

  • Distressed properties comprised 24.1% of new residential listings, and 29.3% of residential sales.
  • Short Sales were 11.8% of new listings, and 8.9% of sales.
  • Bank Owned properties were 12.3% of new listings, and 20.4% of sales.



For Fun: My Beatles Mix for Real Estate Agents

Hows the real estate market in Penny Lane?

How's the real estate market in Penny Lane?

It’s a big day for Beatles fans. Their full catalogue was re-mastered and re-released, plus the long-awaited arrival of Beatles Rock Band.

It doesn’t sound like Beatles songs will be available on iTunes yet, but if you have an extensive Beatles collection, here’s my recommended Beatles mix for real estate agents (my reasoning in parenthesis).

  • A Hard Day’s Night (You work hard, you come home)
  • Crying Waiting Hoping (Originally by Buddy Holly. Could be renamed, “Ode to a Short Sale”. I hope there’s not a lot of crying, but I know from personal experience there can be a lot of waiting and hoping.)
  • Getting Better (The real estate market has been getting better!)
  • Help! (Exactly what a Realtor can provide!)
  • In My Life (“There are places I remember”, and when those places are for sale, call your Realtor!)
  • It Won’t Be Long (Your clients will be “coming on home”)
  • Ob-La-Di, Ob-La-Da (Can’t leave this one off the list! “They have built a home-sweet-home”)
  • Penny Lane (I wonder what the real estate market is like there)
  • Searchin’ (Replace “her” with “a home”; good for when you’re searching the MLS)
  • We Can Work It Out (Nice, optimistic song for agents during negotiations)
  • When I Get Home (The title speaks for itself)
  • Yellow Submarine (If the land of submarines really existed, I imagine it would be pretty pricey real estate)

Does anyone else have other suggestions for a Beatles/Real Estate mix? Leave a comment!

Image courtesy of Alejandro González G.




RE-acular Vernacular: adjectives in real estate listings

REALTORS® have a tough job in trying to accurately & positively portray their listings, while also trying to set them apart from the pack (especially with a high-level of inventory), and I imagine it’s probably hard at times to find the right word (I can sympathize). With that said, I thought it might be interesting to see what adjectives are commonly (and not so commonly) used.

I did a quick survey of  adjectives on active listings in RMLSweb; the survey was of words that appear in the “comments” (private or public) fields in RMLSweb.

The winner was “great” at 34%, followed by “beautiful” at just over 20%. However, I should note that I do have some suspicion that the term “great room” may have affected the outcome. 

Here are the Top 20 results:

Click on the graph for a larger view

Those are the top 20, but I also spent a lot of time in the old Synonym Finder book by J.I. Rodale that we have sitting around the office. I checked out 65 words total in this highly UNscientific study (I had to stop somewhere!) Here’s the full list.

I probably missed some other common ones, but one can only spend so much time… let me know if you noticed any omissions!

Looking for Unique Language for Your Listing?

If you’re looking to be unique in your listing language, here are some words that I didn’t see in any listings:

Bewitching
Prodigious
Winsome
Wondrous
Tip-top
A Number 1 (ala Frank Sinatra)
Bang-up

Also, if you want to reach out to the younger generation, check out the Online Slang Dictionary – some very good stuff there.

This is what it looked like when I tried:

“This crib is totally fresh. It is in a bomb diggity location just outside of Portland. The kitchen is totally bonkers, with choice granite countertops & bumping hardwoods.”

DISCLAIMER: I don’t actually recommend that you use any of the aforementioned adjectives in your listings… However, if you want to, more power to you.