NAR Aquires Technology to Create Nationwide Property Database

The National Association of Realtors® has acquired technology to create a database of all properties in the U.S. so Realtors® can better assist consumers in a high-tech, fast-paced business world.

The technology acquisition includes licensed data and secured data aggregation services from LPS Real Estate Group, a wholly owned subsidiary of Lender Processing Services Inc. (NYSE:LPS), a leader in real estate technology. NAR will use the assets to develop the Realtors® Property ResourceTM, a parcel-centric information database covering all of the more than 147 million property parcels in the country as a resource for NAR members. NAR is planning to launch RPRTM in the second quarter 2010.

“Realtors® are the first, best source for real estate information, and the RPR™ is another emphatic feature to that resource. RPR™ will give Realtors® nationwide data on all properties at their fingertips so they can respond quickly to consumers interested in residential and commercial real estate. This is exciting news and a terrific NAR member benefit. NAR is committed to keep Realtors® central to the transaction and to the buying and selling experience with their clients and customers,” said NAR President Charles McMillan, broker with Coldwell Banker Residential Real Estate in Dallas-Fort Worth.

NAR CEO Dale Stinton said, “These acquisitions will allow Realtor® interests to control the program and the content. Realtors® need to respond quickly to today’s tech-savvy consumers, and the RPR™ provides a means for multiple listing services (MLS), commercial information exchanges (CIEs) and real estate brokerage business models to support the Realtor® community, rather than requiring Realtors to purchase data aggregated by third parties.”

RPR™ is not a national MLS, and will carry no offers of cooperation and compensation, Stinton added. “It is a private, NAR members-only benefit. The assets acquired by NAR will be directed through a wholly owned subsidiary corporation, Realtors® Property Resource, LLC,” Stinton said.

The management team of RPR™ includes CEO Dale Ross, co-founder of the Metropolitan Regional Information System, the country’s largest regional MLS; President Marty Frame, former General Manager of Cyberhomes; Senior Vice President of Industry Relations Mona Steen, former SVP with Cyberhomes; and Jeff Young, NAR director of the Realtors® Property Resource™ and 2008 president of the Michigan Association of Realtors®.

RPR™ will provide nationwide access to public record information such as tax and assessment data, liens, zoning, permits, environmental information, and information on neighborhoods, school district and community demographics, along with advanced search features for property searchers, as well as market-to-market comparisons and referral opportunities not currently available.

“We’re honored to have been selected by the National Association of Realtors® to provide technology, data and other services for the RPR™,” said Jay Gaskill, president, LPS Real Estate Group. “Being involved with such a transformational industry initiative serves as an endorsement for our company and the premier products and services we provide to MLSs and associations, brokers, franchisors and sales associates.”

RPR™ will develop business strategies to make it affordable and feasible for NAR members, and will complement, not compete with, MLSs and CIEs. While many MLS and CIE systems provide a range of services, no two are alike. Brokers are looking for tools that support their agents across multiple markets with similar service levels and access to robust and valuable data. RPR™ is designed to support local MLS and CIE models to create a common experience for agents and brokerages.

RPR™ will have many partners, including the California Association of Realtors® and the Florida Association of Realtors®, offering a number of technology applications which will be incorporated within the RPR™.

“The California Association of Realtors® believes the RPR™ project provides the significant opportunities of scale and reach necessary to serve our members future needs for many years to come. We are already working closely with the RPR™ team to incorporate additional functionality directly into the RPR™ system using Realtor®-owned zipLogix electronic forms as well as Relay transaction management and risk reduction software for members nationwide,” said Joel Singer, CAR CEO.

“The Florida Association of Realtors® and its 122,000 members are excited about the launch of Realtors® Property Resource™, which we believe will be a valuable addition to the toolkit for Realtor® business success. The Florida association and its business subsidiary also look forward to discussing potential partnerships to further enhance the value of RPR™ to Realtors® nationwide,” said John Fridlington, FAR EVP.

For more information on the Realtors® Property Resource™, visit www.realtor.org/about_nar/realtors_property_resource.

About Lender Processing Services
LPS is a leading provider of integrated technology and services to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop), portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by volume are serviced using LPS’ Mortgage Servicing Package. In fact, many of the nation’s top servicers rely on MSP, including eight of the top 10 and 14 of the top 20. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, please visit www.lpsvcs.com.

LPS Real Estate Group provides market-leading MLS Systems, broker and agent technology and software service solutions, public record data, data aggregation services, and content relevant to real estate professional services. Through relationships with hundreds of MLSs, associations and broker organizations, LPS Real Estate Group’s tools are used by over 350,000 real estate agents in the United States. For more information about LPS Real Estate Group, please visit www.lpsreg.com.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Google Maps Real Estate Data Adds Pressure to Zillow

Google maps added new features with things like brand new high-resolution Street View imagery or detailed map data. Google made it easier to find real estate listings. Now, you can simply select “Real Estate” from the ‘More’ button on the top right of any Google Map to discover listings. From there, it’s a simple matter to refine your search using the left hand panel – price, bedrooms, bathrooms, and so on.

Find more information about new real estate features on Google’s Blog.

Find more information about new real estate features on Google’s Blog.

Monmouth County Association of REALTORS® Taps Listing Syndication Trend with Point2 Technologies Solution

Monmouth County Association of REALTORS® (MCAR), provider of the Monmouth/Ocean Multiple Listing Service (MOMLS) announced its partnership with Point2 Technologies which will provide property listing distribution to the industry’s largest syndication and re-syndication network of nearly 40 third party, high traffic websites and search engines, as well as over 260 newspaper websites, on a listing by listing basis.

The new, free program successfully rolled out today to over 930 offices and 9,500 members of MOMLS. The service includes access to online traffic reports, to enable better marketing and online advertising expenditure decisions.

Advanced traffic reporting and lead conversion software tools are also seamlessly available as part of an optional, subscription based service to all MOMLS members, offered within the Point2 Agent software suite.

“We are tapping a critical service in partnership with a leader in the industry, to better serve and deliver on our commitment of world class service to our members,” said Monmouth County Association of REALTORS® President, Glenn Mills. “Listing syndication has become extremely important and it is key that buyers everywhere gain access to all available inventory.”

According to Kenneth “Kip” Walker, Chairman of the Monmouth/Ocean Multiple Listing Service Committee, “We are extremely pleased to be first in New Jersey to bring the benefits of the Point2 syndication network to our members as well as to consumers across the U.S., buyers and sellers alike.” “Our partnership with Point2 is a great milestone as it allows us to deliver very valuable services at no cost to our members, while saving them significant time in their online marketing efforts.”

“Adoption of listing syndication as a means to automate the distribution of property listings online has accelerated significantly over recent months, thanks to leadership and collaborative efforts between technology providers, listing aggregators and search engines, as well as forward looking industry Associations such as MCAR,” said Saul Klein, Chief Executive Officer, Point2 Technologies. “The ultimate beneficiaries of all these efforts will be the consumer, and the economy, as inventory gains better, more accurate and more timely exposure on the Net. Point2 is proud to partner with MCAR on this initiative and to play a leading role in the evolution of real estate marketing on the Web.”

Key service benefits to MOMLS members also include single point of data entry, which eliminates the need to re-enter data on the various sites including their own website or their Point2 Agent site, to help maintain data accuracy and consistency for the user’s listing online.

Point2 boasts the industry’s largest listing syndication network. Since launching its real estate MLS and Association solution just over a year ago, over 90 organizations have joined the Point2 program.

Online Real Estate leader Point2 Technologies Releases the “Real Estate Confidence Index” to Track Street-Level Real Estate Market Sentiment

Index goes beyond data to capture a forward-looking view of the real estate market – from the people who know it best

Point2 Technologies Inc., the largest independent provider of website and listing syndication solutions for the real estate industry, with users in over 100 countries on its platform, debuted the Real Estate Confidence Index today at the Inman News Real Estate Connect conference. The Index, which tracks the real estate market opinions of thousands of real estate professionals across the United States, fills a missing link in real estate intelligence by capturing the current, near-term and long-term sentiment of the people most attuned to market conditions. The company released its June and July national level results today with plans to provide regional indices starting September 2009.

More information and initial results can be found at http://realestateconfidenceindex.com.

The Real Estate Confidence Index is produced through a monthly survey of real estate professionals across the country who are asked to rate current conditions in their market, accounting for seasonality, on a scale of one to ten (1 being “bad” and 10 being “good”) and rate their sentiment for market conditions 3-6 months and 6-12 months into the future on a ten-point scale (1 being “pessimistic” and 10 being “optimistic’). The median response across all questions represents the Index measure for the month. 3,191 professionals contributed to the Index in June; 3,201 contributed in July.

The Real Estate Confidence Index for June was 4.7, with respondents taking a measured assessment of current conditions on a seasonal adjusted basis – a median rating of 5 on the ten-point scale. However, respondents showed marked optimism for both short (3 – 6 months) and long-term (6 – 12 months) prospects.

The July index showed a 16.5 percent increase, rising to 5.5, signaling that real estate professionals are seeing positive movement in a market characterized by contraction for over two years. However, not all respondents were sanguine. 18 percent were less than optimistic about market prospects even 12 to 18 months into the future.

“The feet-on-the-ground perspective only real estate professionals possess is critically important to understanding where the market is, where it is heading and, it simply cannot be captured by traditional measures,” said Saul Klein, Point2’s CEO. “The Real Estate Confidence Index provides a window into the market that did not exist before.”

Point2 will issue the index on a monthly basis and intends to provide region-specific indices starting in this fall. The company will also provide advance reports to professionals who contribute to the index.

“Since the beginning of real estate time, at backyard barbeques and in neighborly conversations, consumers have asked real estate professionals the same question: ‘How’s the market and where do you think it’s headed?’” concludes Point2’s Klein. “The Real Estate Confidence Index reflects the collective answer of thousands of informed professionals across the country.”

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Commercial Real Estate Developers and Brokers Thrive Online During Tough Economic Times

The economy may not offer ideal conditions for sellers in the real estate market at the moment, but a bright spot does exist. Firms like inMotion Real Estate Media (www.inMotionRealEstate.com) are helping commercial developers and real estate brokers make more sales by taking advantage of the efficiency and affordability of Internet marketing.

Few industries have been hit as hard as the real estate market by recent economic troubles. Yet developers are finding new hope in attracting buyers using the Internet. Real estate media and marketing firms such as Boston-area inMotion Real Estate Media are introducing developers and real estate brokers to Internet marketing and new media tactics enabling them to reach more targeted buyers with tighter advertising budgets. In fact, the California Association of REALTORS discovered in their 2008 Use of Technology survey that REALTORS attributed 48% of their 2008 business to the Web — an increase of 4% over the previous year.

Real estate marketing is still very traditional in a lot of ways
When a developer is seeking buyers for new a property, they may launch a direct mail campaign, purchase pricey newspaper or magazine advertisements, or put up large print signage. Internet marketing gives developers a targeted and cost effective approach to attracting willing buyers. It works by connecting people to properties they’re interested in and already searching for.

A professional Web presence and effective marketing strategy on the Web give real estate developers a competitive edge
“Real estate marketing is still very traditional in a lot of ways,” says inMotion Real Estate Media Founder Bob Samii. “When a developer is seeking buyers for new a property, they may launch a direct mail campaign, purchase pricey newspaper or magazine advertisements, or put up large print signage. Internet marketing gives developers a targeted and cost effective approach to attracting willing buyers. It works by connecting people to properties they’re interested in and already searching for.”

inMotion Real Estate Media helps commercial real estate developers find people or companies interested in leasing their properties without relying on costly advertising and print promotions. With expertise in building comprehensive online real estate marketing solutions, inMotion is able to directly connect developers with interested buyers who are actually searching on the Internet for properties like the ones they have available.

They help companies put a professional and interactive face on their development projects by building new Web sites or improving outdated ones to offer a better user experience. After building or improving their Web presence, developers can better attract interested buyers through targeted search engine optimization (SEO), making it more likely that people will find their Web site ranked well in the search engines while searching for properties. Once on the site, potential buyers can be offered property tours or promotional videos, floor plans, and other features to convert more visitors into viable leads.

inMotion Real Estate Media offers real estate Web development to commercial developers, including an increasing number of the nation’s top development firms, guiding them in interactive and online real estate marketing strategies to stay ahead of the competition.

“A professional Web presence and effective marketing strategy on the Web give real estate developers a competitive edge,” says Samii. “Many of their competitors in the real estate market don’t have Web sites, have outdated sites, or haven’t fully embraced digital promotion yet. If they have, they may be facing unnecessary costs of having a designer or developer make all of their Web site updates for them, at an additional cost. At inMotion, we help developers keep their costs down while giving them an online presence that appeals to today’s buyers. Sites are built on our user-friendly content management system (CMS), so clients can make changes to their information online whenever they want, with no complicated software to learn.”

Coldwell Banker Launches Real Estate Application for Microsoft Surface

Coldwell Banker Real Estate LLC today announced the launch of their customized real estate application developed for Microsoft Surface™, unveiled at the Coldwell Banker® International Business Conference being held this week in San Antonio, Texas. It’s new Microsoft Surface home search application allows users to interact with home listings, mapping and other www.coldwellbanker.com features in a way that is familiar, by using simple hand gestures. Similar to the intuitive technology featured in the futuristic film, “Minority Report,” this exploration on the use of Microsoft Surface represents yet another way in which Coldwell Banker is working to harness innovative technologies to benefit home buyers and sellers.

The first commercially available surface computing platform from Microsoft, Microsoft Surface turns an ordinary tabletop into a vibrant, interactive surface. Its 30-inch diagonal, table-like display provides effortless access to digital content through natural gestures, touch and physical objects placed on the display.

Coldwell Banker leveraged the unique interface and capabilities of Microsoft Surface to develop a home search application that will provide a new interactive and intuitive way to explore real estate listings and neighborhoods. Over the course of the roll-out, the following features are scheduled to be released:

Explore. Home listings can be viewed via area maps, specific search criteria such as city, state and price, and by standard number of bedrooms and bathrooms. With a simple touch of the screen, users expand or contract the search area and locate listings, Coldwell Banker offices and area amenities including restaurants, hospitals, schools – gauging the distance between them.

Learn. Details of a particular property listing are displayed and arranged by screen touches. Images of the home are easily accessed, enlarged and moved by hand movements.

Interact. File listings by “grabbing” content with their hands from the display and “dropping” it into the appropriate folder, thus creating an itinerary that they can email to a sales associate.

Coldwell Banker unveiled its home search application by conducting demonstrations of Microsoft Surface during this week’s International Business Conference. More than 1,700 attendees were provided with specially tagged badges that, when placed on the Microsoft Surface, unveiled that individual’s profile and contact information.

Coldwell Banker plans to continue rollout of this technology at brand events and at offices across the country this year.

“As a leader in the real estate industry with a strong heritage of innovation, we recognized that the Microsoft Surface technology has some very interesting potential to change the future of the real estate search,” said Michael Fischer, senior vice president of marketing for Coldwell Banker Real Estate LLC. “Microsoft Surface allows us to showcase listings in a very unique way that offers users a different experience with the entire real estate search process literally at their fingertips. We believe the technology can increase consumer engagement to an entirely new level.”

Last year Coldwell Banker became the first national real estate brand to put its listings on in-car GPS devices through an exclusive feed to Dash Navigation launch and launch a customized online platform for iPhoneTM and BlackBerry users.

Jott For Realtors – Capture Your Voice, Turn it Into Text

Jott makes sure you stay on top of everything. With a simple phone call to 866-JOTT-123, you can capture notes, set reminders and calendar appointments, stay in touch with friends and family, and interact with your favorite web sites and services – all with your voice! Jott can even transcribe your voicemail.

Simply call Jott and tell them where you want your message to go. They capture your voice, turn it into text, and send it to the destination you chose.

Ideas for Using Jott for Real Estate

• Record notes about a home’s features for clients
• Listen to real estate news feeds on your phone
• Take notes during your weekly home tours/previews
• Create To-Do lists for client files
• Create email and text reminders for real estate showings
• Use group messaging feature to send updates to your real estate team

Introductory Video About Jott

[youtube]http://www.youtube.com/watch?v=tszK2zmAQHU[/youtube]

Jott Apps

Jott Apps helps you stay organized the way that works best for you. Whether you want the simplicity of a desktop list application in Jott Express, you are obsessed with your BlackBerry or iPhone, or you live in Outlook or iGoogle all day, Jott has an application that works the stuff you can’t live without.

Jott iPhone App

[youtube]http://www.youtube.com/watch?v=a3iUBS81Z3s[/youtube]

How Much Does Jott Cost?

Jott
$3.95 / month
With a 1-week Free Trial!
our best value
15 second recording time
Unlimited voice to text
Apps for Outlook, and iPhone*

Jott Pro
$12.95 / month
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30 second recording time
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Jott PayGo
$6.95 / 5 mins. (~30 msgs.)
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Technology’s Effect on Commercial Real Estate in a Recession

By: Dominic Mazzone, Managing Partner, Regent Global Funds

Though there seems to be an endless supply of other shoes to drop into the current economic chasm, there seems to be a general consensus that commercial real estate is going to take a significant hit. The shoe that could end up kicking commercial real estate down further and is relatively unknown or just not thought about is technology. Developed countries around the world, save a few, have never gone through such a potentially devastating economic cycle with the amount of technology we have at our disposal. What that technology allows for will greatly affect the length of the commercial real estate recession and its effects on the overall economy.

Link to Full Article

iPhone App for Real Estate Investing from Buy-That-Duplex

The iPhone now gets its own real estate investing software for use by entrepreneurs and business moguls.

To get real estate investing back to its original success in providing return on investment, one resource has announced that their popular tools are now to be ported to the iPhone for easier use.

The tool set, released by http://www.buythatduplex.com, is actually divided into two categories: a light version and a professional version. Each version provides something for different types of investors, so long as access to iTunes is obtained.

ALERT: We received an error message indicating this application was not yet available in the U.S. iTunes store.

LITE VERSION [FREE]

Those new to the tool will likely want to see the light version in action, located at http://www.buythatduplex.com/the-software/btd-lite/. This version is completely free, and allows real estate investors to take advantage of technology to help size up good investments over less profitable ones.

PRO VERSION

The professional version, located at http://www.buythatduplex.com/the-software/btd-pro/, is more for those serious in making a return on an investment. This advanced iPhone and iPod application analyzes a property’s worth in seconds flat. New users are encouraged to watch the application in action at the given URL.

The resource hopes to expand their dominance in the real estate investment niche in the future, and will keep current with technologies to ensure such a prospect.

What is “Buy That Duplex”?

BuyThatDuplex.com is dedicated to helping other beginner investors start their REI career smoothly.  The tools available on this site augment the material written in the book “Buy That Duplex“.

CALMLS Names Concentric as Its Technology Partner

The CALIFORNIA ASSOCIATION OF REALTORS(R) (C.A.R.) today announced that CALMLS, the statewide Multiple Listing Service (MLS) initiative, has selected Rocklin, Calif.-based Concentric as its technology partner in California. Concentric was selected following an extensive vetting process which included input from REALTORS(R) and other stakeholders statewide. Platform and browser neutral, Concentric’s Web-based system performs substantially faster than any product on the market.

“By selecting Concentric as our technology partner, we are taking the first step for a more current and flexible system, designed with a real estate agent’s needs in mind,” said Mike Silvas, CALMLS chairman and co-owner of Morgan Lane Real Estate, a luxury market brokerage based in Napa, Calif. “We have had a tremendous response from brokers and agents who see how it will improve their efficiency and effectiveness as real estate professionals.

“CALMLS intends to incorporate many different technologies to allow choice as well as myriad new applications for the licensees accessing the system, including creating the foundation for a property-centric database that will allow members easy access to relevant data on all properties in California,” he said. “Concentric’s next generation product is a notable and clearly visible leap forward from current MLS software and is built on a platform that can adapt to ever-changing technology needs.”

CALMLS also debuted new branding for the products and services offered by the statewide MLS entity. These now will be branded as calREDD(TM), an acronym for California Real Estate Dynamic Data. The new calREDD(TM) branding reflects the long term vision of creating one database for all California real property, with advanced technology that goes beyond current MLS systems and incorporates a database rich with detail about every single property in the state.

CALMLS also announced it has secured a line of credit for partnership activities, ongoing operations and future development .Sixty-six local REALTOR(R) associations and three regional MLSs representing more than 120,000 members across the state already have signed letters of intent to participate in CALMLS. At the C.A.R. board of directors meetings this past week in Monterey, Calif., Concentric conducted standing room-only demonstrations, with local REALTOR(R) associations vying for priority to have the system for their respective MLSs. CALMLS will allow brokers and agents to access the statewide data through any participating AOR or MLS. Associations and MLSs may be part of the system by using the new vendor as their primary software or by continuing to operate under their current systems and providing data feeds to the statewide database.

“This initiative will fundamentally improve the most critical service for California REALTORS(R),” Silvas said. “Thanks to the hard work and visionary leadership of California REALTORS(R), CALMLS is poised to provide real estate professionals with next generation technology in the MLS arena, as well as the ancillary benefits of optimized pricing and product flexibility,” he said. “The historic actions taken this past week mark a sea change for the real estate industry in California.”

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