As I write this, Spring is still fresh and new, and I have just returned from the National Association of REALTORS® 2019 Association Executives Institute in Austin, TX. I was honored to be included as a speaker on a panel entitled “After the Honeymoon”, which focused on the many challenges an MLS or Association faces after a merger or consolidation. While we are still completing that process at Yes-MLS, I attribute our success to excellent leadership in our Shareholder Associations, our Board of Directors, our excellent staff, and last but not least our exceptional membership. Yes-MLS was applauded by NAR and our peers in the industry.
Back here in Northeast Ohio and around the Country much attention is being given to iBuyer initiatives (see more about that from John Kurlich, COO), the new licensing of home inspectors, and security concerns. The real estate industry is changing faster than ever before. Security is all of our concerns, whether it is data security, wiring of funds, or the security of the homes our members show every day, we need to be vigilant. We continue to offer you as a member benefit Real Safe Agent because we are concerned for your personal safety.
Yes-MLS has worked with CoreLogic for years to build the next generation of Matrix and it is finally here in Matrix 360. Our Account Executives have been busily teaching members on the many benefits of Matrix 360. It is a powerful tool.
Data access and control has been a concern of our Brokers for years and I am pleased to say that we have rolled out Trestle (Web API) without additional charge to our Brokers. This is a cleaner, faster, and more secure way for us to feed your websites and to share data with Public Portals.
We are most excited about the National Broker Portal/Homesnap that belongs to all Brokers and MLSs across the Country. Yes-MLS listings are all displayed there with full Broker attribution using the “Fair Display” guidelines. The leads from your listings are not for sale, and zip codes are not being sold to the highest bidder as is the case in some other portals. You can check your listing as the Nation Broker Portal displays them on the home search at www.Yes-MLS.com, or on the Homesnap Pro mobile app. There is no additional charge to you for this service, it is part of your membership in Yes-MLS.
Please enjoy the content rich Yes-MLS e-Newsletter and be safe and successful this selling season.
Carl R. DeMusz, RCE, CMLS2
President & CEO
iBuyers vs Home Flipper
John Kurlich, Yes-MLS COO
You see them every day, signs, sometimes even handwritten and stuck on a utility pole or a bulletin board in the store, promising to “Buy Houses Fast”. Maybe even “Will Pay Cash for Houses” or “We’ll Buy Your Ugly Home Now”.
If you’re like me, you think to yourself, “Yeah, and what’s the catch?” But, if you think again, you might realize that these signs are a result of a legitimate need. At one time or another, we have all come across the client who wants or needs to sell their homes quickly and conveniently, and they might be willing to offer a lower price or discount to someone who can make that happen.
iBuyers are companies that offer sellers cash for their houses. These companies usually do minor repairs and maintenance, and then put the home back on the market and sell it at a profit. Sometimes these homes are back on the market within weeks or months. But the whole idea is to buy and sell a lot of houses and do it quickly.
Odds are you’ve seen one or more of these signs. Maybe you’ve even know a “Home Flipper”. But a few key things have occurred that have led the “iBuyer” model to explode recently. One of those things is funding.
Many of the largest iBuyers now are funded by millions of dollars of venture capital or are a part of a larger publicly traded company. This increased funding enables companies do a large enough volume to make it a working business model.
This funding also makes it possible for these companies to create apps and websites that streamline the buying and selling process. Consumers can often have an offer on their property within 48 hours. This results in a new consumer experience where buyers and sellers can now work with a single company and buy and sell more quickly with less hassle and greater certainty that their deal will go through.
AREN’T IBUYING AND HOME FLIPPING THE SAME?
iBuying and Home Flipping are similar in that in each case you take a house, fix it up, and resell it. However, the large companies doing this believe that there are very big differences.
The biggest difference between iBuyer companies and home flippers centers around the type of properties being purchased. iBuyer companies usually do not buy distressed properties. Home flippers, however, typically buy the least expensive, most run-down houses and then upgrade them. iBuyers are looking for homes in decent shape that mostly need just cosmetic improvements.
High volume allows the iBuyer to make less money on each home sale. The model has worked because these companies are able to do far more transaction, more quickly than the home flipper. The key to their success is volume.
WHO ARE THE iBUYERS?
One of the largest iBuyers is a company called Opendoor. Some of the others are Offerpad, Knock, and RedfinNow. Some of these companies have brokers licenses and have agent/employees working for them. Some do not. Even Zillow now has a program called Zillow Offers.
HOW DOES THIS IMPACT MEMBERS OF YES-MLS?
These iBuyer companies have not yet attempted to enter our market. But certainly could, as part of their expansion strategy.
However, there are people and entities in our market that are contacting Yes-MLS members and presenting themselves as iBuyers or home flippers, and asking our members to provide them access to the MLS and its data. They want MLS data, your data, to help them make offers on unlisted properties. In return, they will give or sell you the leads for those sellers who have indicated they might be willing to sell, but not at the discount price offered by the home flipper.
Be careful! Allowing someone to use your User ID and Password to access Yes-MLS data could result in you receiving a $1,000 fine and maybe even loss of your own access rights to the MLS.
We encourage members to work with legitimate investors or even legitimate iBuyers. But watch out for those, not so legitimate persons or companies who might put you in danger of loosing your MLS access rights or worse. As always, know who you are working with.
iBuyer is a new business model that may well be coming your town. When done right, it can provide a needed service to some sellers and buyers. While iBuying can streamline a real estate transaction, most consumers still need the assistance of an agent to help them understand the local market and their options.
There is a known issue with the Tax History repeating some of the listings which we hope to have resolved soon.
There are Classes! Click here and login to the membership portal. Once logged in, click View/Register for Education Courses. You can look at the calendar view for April, or just search for “360” to find them.
WHO TO CALL:
You can contact Yes-MLS Help Desk with any questions at 216-485-4100 ext. 480
Julie resides in Broadview Heights with her husband, Roman and daughters, Lexi (16), Livi (13) and Lani (9). She spends much of her time watching her daughters in dance performances and athletic games. Julie graduated from Baldwin-Wallace College and grew up in Wadsworth, Ohio. Julie would describe herself as personable, outgoing, and organized.
CORELOGIC AND HOMESNAP JOIN FORCES ON INTEGRATIONS TO MATRIX
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced that it has entered into an agreement with Homesnap, provider of the top-rated agent mobile productivity platform, to offer their mutual CoreLogic and Homesnap customers advanced integrations. These integrations between Matrix™, CoreLogic’s multiple listing software system, and Homesnap Pro will include full synchronization of contacts, prospects, saved searches and favorites between the two platforms, edit listing functionality, and ultimately, the ability to add a new listing.
This alliance represents the first time that CoreLogic has allowed these combined integrations directly into Matrix. The integrations will be available to CoreLogic Matrix and Homesnap Pro customers and users at no additional charge.
“Agents want to be able to perform their essential business functions in one place, using one platform. This groundbreaking collaboration with Homesnap will make that goal a reality for the brokers and agents who use Homesnap and Matrix,” said Chris Bennett, Executive Leader of Real Estate Solutions for CoreLogic. “We are proud to be working with Homesnap to deliver these integrations to the industry.”
“Our clients have asked for integrated solutions that make the products they use more powerful and efficient. We are always trying to make Homesnap Pro an even better tool for agents, brokers and multiple listing organizations, and this relationship with CoreLogic was a natural step for us,” said Homesnap CEO John Mazur. “CoreLogic provides one of the top software solutions for multiple listing organizations, and the integrations that we’re developing together will be incredibly valuable for our mutual customers.”
The integrations made possible by this collaborative effort will enhance the utility of Homesnap Pro in CoreLogic markets, allowing agents to perform a multitude of essential tasks directly from their mobile device. Homesnap and CoreLogic expect the first phase of these integrations to be introduced before the end of the second quarter of 2019.
“The demand for Homesnap Pro was evident when it became one of our most rapidly adopted services ever. The upcoming integration with Matrix will ensure continued strong usage going forward,” said Northwest Multiple Listing Service President and CEO Tom Hurdelbrink.
Homesnap Pro is the most popular agent productivity app on the market, currently available to roughly 1 million agents in more than 170 multiple listing organizations across the country. Homesnap is also the public-facing brand of the Broker Public Portal, providing a real-time home search platform with multiple listing information to millions of consumers each month.
Brad Charnas – Charnas Appraisal
Market prices have been rising for the past several years and, in some markets, they have been rising sharply. For an appraiser, this means that sales from 6 to 12 months ago will not support today’s sale prices. For buyers, sellers, and their Realtors, this means that the appraiser can not support the contract price on a subject property because they can not prove to a lender (and their underwriters) because they have no current sales to prove the current price levels. Often, there will be a terrific sale just a couple doors down with a “pending sale” sign in the front yard that would clearly document the subject property’s contract price but we can’t use it because it hasn’t sold. Often, such a sale has actually closed but the agent hasn’t updated the MLS so there would be no way for us to know that. Immediately posting that a sale has closed in the MLS is urgently important. It’s important to the appraiser, of course, but its the buyers, sellers and their agents who are impacted financially when a deal doesn’t close for want of current comparable sale data.
On a related issue, “days on market” keep piling up while a property is in “contingent” status and only stop accumulating when the status is changed to “pending”. Failure to change the status to “pending” as soon as the contingency is removed causes inflated marketing times in the MLS. Inflated days on market statistics make it difficult for us to make the case to a lender reviewer that prices are, indeed, rising. My wife, Paulette Moylan, and I are both dedicated to doing everything we can to document current market values in our appraisals but can’t do it without timely and accurate MLS data.
Agents, You Deserve Better Tools
With the Cloud Agent Suite you can provide your clients with custom CMAs or listing alerts, search the MLS, and generate your own leads.
With Cloud CMA you can easily create beautiful CMA Reports, Buyer Tours, Property reports, and Flyers all designed to help you win more listings.
Faster than Zillow, Trulia, Redfin, and Realtor.com – Cloud Streams gives your buyers access to real-time listing alerts and is the only tool that offers text alerts.
With Cloud MLX you can search for listings just search like you search Google! Easily save and organize your searches so that it’s super easy to share with clients.
Generate your own leads with Cloud Attract. Create beautiful landing pages in minutes to attract potential buyers or sellers.
With Cloud Agent Suite you will save time, money, and look awesome in front of your clients!
Senate Bill 255 was signed into law on Jan. 4, 2019, creating the Home Inspector Program, to be headed up by the Department of Commerce’s Division of Real Estate & Professional Licensing.
Part of the new program establishes home inspector licensure in Ohio, adding a crucial layer of regulation previously missing from the home buying process.
Beginning Nov. 1, 2019, any person performing a home inspection for a client, for compensation, must be actively licensed with the Division
Once all members of the Ohio Home Inspector Board (OHIB) are appointed, existing Ohio home inspectors may apply for a “grandfathered” license. That window of opportunity will remain open for 120 days. A date certain will be published once the last appointment is made to the OHIB.
The responsibilities of regulating the home inspector industry include:
Adopting rules, including a Code of Ethics and Standards of Practice, which guide licensees’ delivery of services;
Determining the education and experience required for obtaining a home inspector license;
Determining and monitoring continuing education requirements;
Approving both pre-licensing and continuing education curricula and providers;
Administering the duties and operation of the Ohio Home Inspector Board;
Administering enforcement duties including investigation of complaints against licensed home inspectors; and
Investigating allegations of unlicensed activity.
Home Inspector Program – Things to Know
Requires licensure for individuals wishing to perform home inspections in Ohio.
It also lays out certain requirements that Ohio-licensed home inspectors will have to follow, such as: having a written contract between the licensee and the client before work is performed, requiring that a written report of the home inspection be provided, having a records retention of five years for certain documentation, etc.
Creates the Ohio Home Inspector Board (OHIB).
This board will exist within the Division of Real Estate & Professional Licensing to regulate the licensure and performance of home inspectors. The seven-member board will be required to adopt rules related to standards for conducting home inspections, education and experience requirements, prohibitions against conflicts of interest, etc. Disciplinary hearings and appeals of Superintendent decisions fall under the authority of this board. Five members will be Ohio-licensed home inspectors appointed by Gov. Mike DeWine. The two remaining members are both consumer advocates; one appointed by the Speaker of the Ohio House of Representatives, the other by the Ohio Senate President.
Requires real estate professionals to provide the names of at least three licensed home inspectors.
The bill also requires a real estate broker or salesperson who provides the name of a home inspector to a purchaser or seller of real estate to provide the names of at least three licensed home inspectors.
Creates the Home Inspection Recovery Fund.
This is for the purpose of satisfying certain judgments against a licensed home inspector when the judgment creditor has exhausted other avenues for recovery.
Ohio is the 34th state to have a program in place regulating home inspectors.
Overall, this program aims to give potential homebuyers, making arguably the biggest purchase of their lives, peace of mind in knowing any inspector they plan to hire is properly trained.
Click here to sign up for the latest news and updates on the new Home Inspector Program.
LOCK UP to avoid liability!
Don’t Let this happen to you!
Recently we have had reports of properties not being secured after a showing and later being vandalized or having property stolen.
As the Showing Agent, you are responsible to make sure that the property is left in the same condition as when you arrived. Before you leave, make certain that all doors and windows have been locked and secured (unless the showing instructions indicate otherwise).
Remember too that the Code of Ethics forbids accessing, permitting or enabling others to access or use listed/managed property on terms or conditions other than those authorized by the seller.
Furthermore, providing keys, codes or other means of access and/or permitting an unlicensed individual unsupervised access to a listing is a violation of Ohio license law and could result in disciplinary action from the Ohio Real Estate Commission, including, a fine, required education, and suspension of your real estate license.
Important information for your newly Licensed agents
What To Know:
A newly licensed agent joining your office will need to complete several steps when joining the MLS
What To Do:
After an agent has passed their state licensure test, the office manager will complete the Roster form and email to email@example.com or fax to 216-485-4159.
Once the state shows them as an active agent, they will be added to our membership system and sent an email welcoming them to Yes-MLS and class details.
They have 30 days to join a local board if their broker is a REALTOR member
They have 30 days to complete the Intro class either in person or online
The temporary password will be disabled if either of those are not completed within the 30 days.
The agent will call Yes-MLS Help Desk at 216-485-4100 x 480 to register for Intro to MLS. If the agent is authorized for access to enter & change listings, they may also register for the Listing Input class at Yes-MLS. Both classes are also available online with a quiz.
The agent will receive an email from the billing department with information on their first invoice. They are either billed up to February or August depending on when their license became active with the state. Membership dues may be paid online at MMSI. Dues may also be paid with cash or check at Yes-MLS, 5605 Valley Belt Rd, Independence OH 44131.
Who To Contact:
Membership questions should be directed to Lori Dean at 216-485-4100 ext 404. Education questions should be directed to Yes-MLS help desk at 216-485-4100 ext 480.
Save $100 on Coming Soon listings
Save $100 by making sure that when your listings are entered into the Coming Soon status, you email (ComingSoon@yes-mls.com) or fax (216-485-4159) a copy of the Listing Agreement, along with the Coming Soon Authorization Form, signed by the seller(s), to Yes-MLS, within 48 hours, or 2 days (except Saturdays, Sundays, and postal holidays) of the listing date. If a Coming Soon listing is not reported to Yes-MLS within the required timeframe, it will be subject to a penalty of $100.00.
With Springtime comes the renewed reports of scams and suspicious activity. We have already had a report of phony telephone numbers on Craig’s List. This is an old scam and the report we received unfortunately cost someone some cash because they sent a deposit to the scammer.
We’ve also had a report of an individual saying they are from California and is calling around saying that she will be undergoing treatment in the Cleveland Clinic and since homes are so inexpensive in Cleveland she wants to buy a home. She looks on line then tells the agent she will buy the home sight unseen and have it inspected. She then signs a full price purchase agreement, puts the house under contract and a few days later backs out and stops payment on her earnest money check. Many agents with listings in the Heights area have had to deal with this. It’s damaging the sellers because the homes go contingent then back to active and at some point she has multiple homes under contract at the same time.
These are just a couple of the reasons why everyone should be using Real Safe Agent so you can see if other agents have dealt with unscrupulous individuals before you fall for any of their tricks or time wasters.
Scammers should be reported immediately to the local FBI office. The Cleveland FBI office can be contacted by calling (216) 522-1400
Homesnap is superior to third-party search portals for collaborating with clients.
1. Your listing, your lead!
Homesnap follows NAR Fair Display Guidelines, which means that if consumers find your listing on Homesnap, they’ll see your name next to it.
If they are interested in the property, they can reach out directly to you through Homesnap and you’ll get the lead — for free. No bidding wars that allow other agents to purchase your leads off the listing you worked so hard to get — Homesnap never sells ad space next to your listings.
2. Protect existing agent-client connections
If a client accepts your invitation to connect, every time they go to a listing on Homesnap, they’ll be prompted to contact their agent (you!) for more information. Everywhere your client goes in the app, they’ll be branded to you, for free. They’ll even get weekly local market reports with your face on it (also, of course, for free).
3. Crowd-pleasing features that none of the other search portals have
Both agents and consumers can “snap” a photo of a home (for sale or not) and instantly pull up property information on it. They can “walk the property lines” in augmented reality.
Listing agents can make Homesnap Stories (similar to Instagram stories) and add them to their listings (for free) and track who’s watching them.
Homesnap is not just another third-party tech vendor. We’re a tech partner.
The Broker Public Portal — the industry initiative to take back lost ground from third-party marketing portals — selected Homesnap as its technology partner. Homesnap is not going to monetize your leads, ever. It follows Fair Display Guidelines and sends all leads to the listing agent. This is in the BPP contract we have with all member MLSs. We are the industry’s partner.
Not only does this direct industry partnership mean that Homesnap is abiding by NAR guidelines and doing right by our MLS and agent partners. It also means that we can bring the real estate tools you use to run your business under one roof.
Scheduling a showing. Walking the property lines. Viewing live-updated MLS data. You can do all this in our app because at Homesnap we’re building bridges with the industry, not burning them.
If you are interested in Homesnap training, please have your broker or office manager contact Yes-MLS at 216-485-4100 ext 480 to set up an office visit.