As you may remember from earlier articles in TRENDLINK, one of TREND's highest priorities in 2008 is to implement solutions to help lessen the impact of
overlapping market disorder, or OMD.
While some steps have already been taken, a more beneficial and highly-anticipated solution -
data sharing - is nearing completion. Imagine, being able to find listings outside of TREND's coverage area in MLS Blue, or entering listings in MLS Blue and have them appear to agents in a neighboring market, using a separate multiple listing service, or MLS.
Cooperation among neighboring MLSs - partnering or working together to resolve OMD - allows you, as a member of an MLS, to better serve your clients.
Members Reap the Benefits
All TREND members - brokers and agents alike - will reap the benefits of data sharing initiatives. If you are working with buyers, you will have
TREND members in New Jersey can expect to benefit from increased exposure as well as more inventory.
a more comprehensive inventory of listings available. If you are working with sellers, those listings will gain broader exposure by having them automatically appear in both MLSs. Additionally, you, as a broker, can reduce the costs associated with having to secure multiple feeds for company websites and office solutions and related programming.
Once Jersey Shore Multiple Listing Service (JSMLS) listing information is available in MLS Blue, you can use one system to conduct your business in the Ocean County, NJ market area; meaning the duplicate work and heightened levels of frustration will disappear. This partnership has created is increased productivity and a sense of cooperation.
TREND staff has been working with JSMLS information over the past several months to see how it integrates into MLS Blue. Once all behind-the-scenes programming changes have been completed, TREND expects data sharing to begin around the end of the year.
Increased Exposure and Inventory
TREND members in New Jersey can expect to benefit the most from increased exposure of their listings, as well as access to more inventory. That's because:
- 3,000 members of JSMLS will be able to view your listing information through the JSMLS system.
- Consumers in the Ocean County and the surrounding area will be able to view your listings on the IDX websites of JSMLS members.
- You will have access to 3,500 more active residential listings from the Ocean County area in MLS Blue and have the ability to display them on your IDX website, if you have one.
- Initially, you will have access to 18 months of historical listing information (sold, expired and withdrawn) for the Ocean County area.
This new information will be seamlessly integrated into many of the MLS features that you use today. You will be able to search, e-mail and print reports, create auto client matches (ACMs) and prepare Comparative Market Analyses (CMAs) and flyers - do all your usual MLS work - but with a broader inventory of active and sold listing information.
Icons Identify New Information
If your search results yield listings from JSMLS, those listings will be identified on TREND reports with a "JS" logo after the MLS number field.
Additionally, if there are both TREND and JSMLS listings in your search results, the TREND listings will be identified with the TREND logo, so that you can quickly and easily distinguish the source of the listing. Please note, if your search results do not include listings from JSMLS, you will not see these logos.
New Initiatives on the Horizon
TREND will continue fostering partnerships with neighboring MLSs with the hope of starting data sharing initiatives in other market areas.
By continuing to work toward new solutions, our goal is to make the day-to-day business of all TREND members more cost-effective and efficient. In turn, this will enable you to better serve your clients.