MLS News

A new resolution for Days on Market has been approved
DOM (Days on Market) has been the subject of debate and controversy for some time. Because of this, the MLS Committee assigned a task force for study options available to reflect a more accurate picture. The following has been approved by the MLS Committee and Board of Directors.

Beginning summer of 2008 all reports that currently have DOM shall have both the Cumulative DOM (CDOM) and the Current DOM (DOM).

The DOM will continue to reflect the number of days the property was listed most recently before it sold (or to be more exact, before its status was changed to UNDER CONTRACT or CONTINGENT ON FINANCING AND INSPECTION.)

Further, if the property is placed in any of the following statuses but returns to an ACTIVE, AUCTION or BACK ON MARKET (BOM) status, the days on market (DOM) are to exclude the time the listing remained in any of these statuses:

• contingent on financing and inspection
• temporarily withdrawn
• under contract
• withdrawn
• expired
• sold

The CDOM will reflect all the time that property was on the market until that property was found to be sold or not listed on the MLS database within the last 365 days.

Here's how it will work. . . Once a property is entered in MLS, the system will scan the database back 365 days from the list date and search for an identical parcel number. If none is found, both the CDOM and DOM will be identical.

However, for every identical parcel number found that does not have a SOLD status, the system will then tabulate the DOM figure from each of those listings and display them as CDOM on the new listing. Once the search process finds a SOLD status for the identical parcel number, it stops the search from continuing and records only those CDOM found (if any).

FYI:

• Beginning as soon as possible, all reports thatcurrently have DOM displayed will have both CDOM and DOM displayed. (We look for this to happen this summer.)
• The original list price shall be listed on all agent reports.
• This applies to all seven MLS listing categories: (1) Residential, (2) Land/Farm, (3) Multifamily, (4) Commercial, (5) Office, (6) Industrial and (7) Business Opportunity

Manual Map placement approved
Existing listings on TEMPO^TM 3 are expected to be automatically geo-coded on TEMPO^TM 5 -- meaning each will be assigned a location on the map identified by a house icon.

However, in some cases, the mapping source might not have the location assigned yet.

If this is the case, members can manually place their listing on the map but note that inaccurate placement would be subject to a fine.

Geo-Coding auto and then asks to verify mapping location assigns house icon and color but will allow them to move it.

Balcony to be added as amenity
The MLS Committee has approved adding BALCONY to the Tempo^TM 5 system and the amenities feature list on the residential work sheet. This decision was made as a balcony on a condo was deemed to be important and often reflected in the price.

Tempo^TM Wireless Update
There were 32 new subscribers to TEMPO^TM WIRELESS in February with 734. Palm remains the #1 usage device with Verizon Wireless as the #1 selected carrier.

Tempo^TM 5 Conversion
The conversion from Tempo^TM 3 to Tempo^TM 5 on March 24-25, 2008 occurred with minimal interference and/or confusion.

The transfer of prospects, searches and photos took longer than expected and were not complete by the time of the final cutover (10am 3/25). However, MarketLinx took all measures needed to get these situations addressed as quickly as possible. There were minor issues connected with the information available on reports and some changes in the terminology used through out the system. MarketLinx will continue to address problems as needed and all problems should be resolved in a timely manner.

To help in the upgrade process MarketLinxis providing phone support over and above that provided by CBR until April 24th including after hours weekday and weekend calls.

So, if you need support between 5-7pm weekdays or 9a-6:30p on weekends -- up until April 24 -- you can call 1-888-549-5003. Support needed Monday-Friday, 8:30a -- 5p should be made as usual to CBR Tech Support at (614) 475-4000.

Below is a grid of the classes scheduled for Tempo^TM 5 training in April. These are the same Tempo^TM 1, 2 and 3 classes we've been teaching for years now -- but using the Tempo? 5 system, of course.