Agent Solutions - The PREVA Report

The PREVA Report has Moved

2007-04-15T19:57:00.000-06:00

I've enjoyed blogging with you all here and I hope you will continue to visit us at our new blog home at:

Point2 launches 'NLS' for real estate professionals

2007-01-04T15:45:00.000-07:00

Free system puts agents in charge of Web marketing

Thursday, January 04, 2007

A real estate technology company today launched a free international service to assist real estate professionals with marketing properties online, establishing agreements with other professionals and tracking Web statistics.

Point2 Technologies Inc. officials say that their creation, called the Point2 NLS (for National Listing Service), is a marketing vehicle that is not intended to compete with traditional multiple listing services.

It is the latest in a series of free Web-based tools designed to increase the online exposure of property listings -- officials at automated home-valuation site Zillow.com, for example, announced a new service last month to allow agents to advertise for-sale property listings.

The new Point2 system builds upon the company's existing technologies and customer base. At launch the company already has about 104,000 members in 85 countries. In November, the company announced that 78 percent of its members were in the United States and 14 percent were in Canada, followed by Australia, India and the Philippines. The company offers a consumer-facing property-search Web site at Point2Homes.com.

"Our NLS gives complete control to the broker so that he can choose who his marketers are on a peer-to-peer basis," said Brendan King, chief operating officer for Point2 Technologies. "There are no regional boundaries. Searching on the NLS, both for real estate professionals and consumers, won't be bound necessarily by geography."

Also, creators say the service is intended to thwart antitrust actions by allowing real estate professionals to make individual decisions about how to market property information on other Web sites. For example, agents participating in the system can select which agents they choose to share listings information with -- and which agents not to share listings information with.

This peer-to-peer system of "Agent Handshake" agreements also allows agents to state specific reasons why they choose not to share listings information with specific real estate professionals, and calculates a performance index score for agents based on a variety of factors such as speed in replying to prospects and number of virtual tours and total Web site pages.

King said that the NLS system "now is outside the realm of the Federal Trade Commission or the Department of Justice because (real estate professionals) are making individual business decisions."

The Justice Department is locked in antitrust litigation with the National Association of Realtors, for example, over the Realtor group's approval of policies for the online sharing and display of property listings information, and the Federal Trade Commission announced several actions last year to combat MLS policies that it deemed anti-competitive.

There are several national Web services that offer real estate professionals a place to share information about for-sale properties at no charge, such as Edgeio, Google Base, LiveDeal, Oodle, Propsmart, Trulia, and Yahoo! Classifieds, among others, and the Point2 service gives real estate professionals the option to share property information with these sites.

This so-called "Exposure Engine" also allows agents to choose paid advertising for property listings on sites such as NYTimes.com.

The system offers detailed statistics on consumer traffic to property-search Web sites that can assist real estate professionals in determining which marketing venues are most successful.

While basic services for the Point2 NLS are free, the company does charge for advanced features, such as "predictive marketing" analysis that assists real estate professionals in tracking the online behavior and real estate interests of specific users.

Also, there are other lead-prospecting and text-messaging tools available for a fee. The company has made a name in the industry by building real estate Web sites and offering selling tools to assist with online marketing and lead management.

While several of the free online property-marketing services allow homeowners to list their own properties for sale, Point2 is focused on properties represented by real estate professionals. Most of the participants in the system are agents, and King said that agents are required to get broker permission to market listings in the system.

"It's really the brokers who are in control of the listing content," he said.

The traditional MLS system, which features hundreds of local, regional and statewide MLSs across the country, are not integrated and employ a wide array of business rules, membership fees and data standards.

Many MLSs are operated by Realtor trade groups, and in some cases membership in the Realtor trade group is tied to membership in the trade group's MLS. The Point2 NLS system does not require Realtor or MLS membership, though many of the nation's real estate licensees are also Realtors and members of at least one MLS.

Jay Thompson, a real estate agent in Mesa, Ariz., and a Point2 user since August 2005, said he has separate sections on his own Web site for posting shared property information derived from local MLS members and a separate section for posting properties from the Point2 network.

"My MLS lets me put (up to) six pictures in a listing. Point2 lets you put 36 -- I get a lot more views on my Point2 listings," he said. "I put a lot more pictures, so people tend to naturally gravitate toward the listings that have more information."

Thompson, who works for Century 21 Aware, likens the Point2 capabilities to that of Google Base, Trulia or Zillow -- "It's just another Web venue for me to advertise listings on. It's not going to replace the MLS; that's not its intent." He said he has established agreements through the Point2 network with about 1,100 real estate professionals in the area where he works, and he explains this to prospective clients during listing presentations.

Some industry participants may not embrace the concept of the Point2 NLS at first, Thompson said. But after they realize "that it's not an attempt to take over their world then they should be OK with it," he added.

Saul D. Klein, a real estate industry speaker and consultant and creator of the e-PRO real estate technology certification program, said that the concept for the Point2 NLS "is a great one," though the company is "going to have challenges."

"The ability for people to choose their own marketing partners is, to me, where the industry needs to go," said Klein, who is also president of Internet Crusade, an Internet marketing company and an online community of real estate professionals.

While there has been industry controversy over how information is shared among real estate professionals, Klein said that Point2 seems to have the right idea with its "Handshake" agreements. "You should have the right to choose who you share your listings information with," he said. "I think that's a good thing, and I encourage that kind of participation. It's up to the Realtor ... and not the Department of Justice."

Klein said there is potential for MLSs to misinterpret the intent of the Point2 NLS system, and that could be an obstacle for the system. "I'm intimately aware of the politics of MLSs, and I think if they understand it it won't be a problem. But if they don't understand it it will be a nightmare -- people will react out of fear and not out of fact."

He added, "I believe that if the MLSs take a hard look at this they will see that it's not competition -- there is more competition from major search portals."

The cat is already out of the bag when it comes to the distribution of property listings information, Klein said, noting that real estate professionals now have many online venues to market properties.

"To be able to compete now -- to defend yourself -- you have to let it go to a number of places, otherwise one place does become more powerful," he said. "The days where we put it on Realtor.com or only put it in two or three places, I think we've outgrown that."

Brokers, too, may have a negative reaction to the NLS system, Klein said, and the company must show the industry "that they are not there to take anything away from them," but rather to enhance the industry and provide more choice. "We know that there always is resistance," he said.

Realtor.com, a National Association of Realtors-affiliated site operated by Move Inc., remains a dominant player for online property searches, Klein also said, though systems such as the Point2 NLS may push the industry toward "fuller, richer content on the Internet."

With so many sites competing for Internet eyeballs, it remains to be seen whether Point2 NLS will gather significant participation to change the industry, Klein said. "A lot of companies spend a lot of money getting products to market. I think if it gets the right traction it can be an industry-changing thing. Getting the right traction is tough."

***

By Inman News

INTRODUCING...New Real Estate Assistant Organization

2006-10-01T09:40:00.000-06:00

Hello all!

I wanted to take this opportunity to introduce to you a fabulous new organization dedicated to educating and training "On-site" Real Estate Assistants, "Virtual" Real Estate Assistants and yes... Realtors® the latest in Real Estate technology and how to effectively work together. We have something for all of you.

You may have heard of the popular organization, CyberStarVA™. As of October 1st they have made a few changes to their organization including a name change to the International Real Estate Assistant Association, or IREAA. The purpose of the name change was that in the past their main focus was on the "virtual" real estate assistant, however there has been a growing popularity from "on-site" assistants that are interested in the comprehensive and practical training the organization has to offer. In an effort to accomodate all real estate assistants (on-site and virtual) IREAA has emerged.

In addition to the name change, IREAA has partnered with myself, Jennifer of Agent Solutions and Pam Ivey of Visual Persuasions Canada to launch a long overdue Canadian Chapter, IREAA.ca. Pam and I have a noticed a growing need here in Canada for an organization that provides practical training for real estate assistants of real estate software with Canadian content and a place where Realtors® can go to learn how an assistant can help grow their business.

So have a look around at our new sites, IREAA.com and IREAA.ca and please do not hesitate to contact any one of us if you have any questions. We are here to help.

2006-09-15T17:03:00.000-06:00

CANADIAN HOME SALES ON RECORD PACE IN MAJOR MARKETS

But sales slip 6.6% from a year ago

The rate of existing-home sales fell 6.6 percent in August compared to August 2005 but rose 1.4 percent in the first eight months of the year compared to the same period in 2005, the Canadian Real Estate Association reported.

Year-to-date sales activity reached the highest level on record in Calgary, Edmonton, Saskatoon, Winnipeg, Ottawa and Montreal, among other markets, the association reported.

According to seasonally adjusted MLS data, there were 47,117 new residential listings in August -- nearly the highest level in about 15 years. "While additional listings are helping many local markets to become more balanced, listings remain in short supply in a number of markets in western Canada," according to the report.

The MLS residential average price in Canada's major markets was about $261,434 (in current U.S. dollars) in August 2006, an 11.6 percent rise from August 2005 levels. Year-over-year price increases have remained in the double-digits for each of the first eight months of this year, the association announced.

Average price also set new monthly records in Vancouver and Edmonton.

"Economic fundamentals underlying the housing market remain supportive for housing activity," said CREA chief economist Gregory Klump. "Weakening U.S. economic growth is a good news for Canadian interest rates, as slowing economic growth in Canada will keep mortgage interest rates low and the housing market on a solid footing. If the Bank of Canada cuts interest rates to shore up Canadian economic growth, its warning that economic growth might be pushed higher by momentum in household spending may become something of a self-fulfilling prophecy."

CREA president Alan Tennant said in a statement, "Now that the market is becoming more balanced, realistic pricing will become increasingly important."

The Canadian Real Estate Association represents about 86,000 Realtors working through 99 real estate boards, 10 provincial associations and one territorial association.

***

Article offered by Inman News

2006-08-28T15:17:00.000-06:00

CANADA GETS SERIOUS ABOUT RADON

Health Canada is poised to tighten up guidelines for radon gas levels in indoor air, to a level four times more stringent than current guidelines. It could mean that radon testing will become mandatory in future real estate transactions, and that building codes for new homes will be upgraded.

Critics say that Canada should have adopted the stricter guidelines in the 1980s, when the United States and other countries around the world set their radon guidelines. But Health Canada says that "until recently, there was no evidence providing a direct link between radon levels in the home and lung cancer." The ministry says that, "However, in 2005, two independent scientific studies performed in Europe and North America showed that lung cancer risks extend to levels of radon found in some homes depending on the length of time an individual is exposed to it."

Canada's current guideline of 800 becquerels per cubic metre is the second highest allowed in the world. The new proposal would set the level at 200 becquerels, which is the same as the United Kingdom, Australia, Norway, Spain and several other companies. The toughest guideline is in the United States, at 150 becquerels.

Fergal Nolan, president of the Radiation Safety Institute of Canada, told media outlets that he asked Health Canada to match the U.S. guidelines back in 1988, but that the ministry didn't take the threat seriously.

However, Health Canada says there was no conclusive evidence before 2004 that radon levels in buildings were directly linked to lung cancer. Now, it acknowledges that radon can pose a serious health risk.

Radon is an odourless radioactive gas that occurs naturally in the environment. It is caused by the natural breakdown of uranium in soils and rocks. In the open air it does not pose a health risk, but in an enclosed space such as a mine or a basement, breathing in radon decay products can lead to lung cancer.

The Health Canada report estimates that lung cancers from radon exposure account for about 10 per cent of all lung cancers, second only behind smoking. It says an estimated 1,600 lung cancer deaths in 2000 can be attributed to radon. "The number of radon-induced lung cancers is about one-half of the deaths due to automobile accidents, and is equal to the combined total of deaths due to accidental poisonings, homicides, drownings and fires," says the Health Canada report. "In any other situation, this number of deaths would certainly justify a major public health initiative."

Radon can seep into a house through dirt floors, cracks in concrete walls and floors, sumps, basement drains, and through concrete block walls. Radon levels are higher in some geographic areas than others, and Health Canada is current working on a mapping system to identify the hottest radon zones.

However, predicting which houses have radon and which ones don't is difficult. "Factors such as the location of the house and its relation to the prevailing wind may be just an important as the source of the radon," says the Health Canada report. Radon levels can vary from season to season, with the highest levels usually recorded during winter.

One estimate says that about 175,000 Canadian homes, or almost three per cent of single-family homes, have radon levels above the proposed new guideline of 200 becquerels, and will need to be repaired to ensure the safety of its occupants.

In discussing the implementation of the proposed guidelines, the Health Canada report says several Canadian companies currently offer radon testing services, and the average cost is about $50 per test. It says that a national certification program should be considered to ensure that testing standards are determined and enforced.

For houses that require work, the average "mitigation" cost would be about $1,200 per house, says the report.

"Active soil depressurization has been found to be the most effective and reliable radon reduction technique in existing homes," says the report. "This method involves installing a vent pipe through the basement floor slab or connecting it to the foundation drain tiles through the sump. A fan which runs continuously is connected to the vent pipe. This reverses the air pressure difference between the house and the soil, so that air flows from the house into the soil, preventing soil gas entry, and reducing concentrations of soil gas, including radon, next to the foundation."

The report says open sumps should be fitted with airtight covers with special traps that allow water to drain, but prevent radon from entering the basement. Major gaps in the basement floor or in the top of foundation and interior load-bearing walls should be sealed, as should minor cracks in foundation walls and floors. Other gaps around utility penetrations should be sealed. Exposed soil in a crawlspace should be covered by a barrier with sealed edges and joints, says the report.

"What is required for testing services also applies in large measure to builders and contractors providing radon mitigation services. Standards and guidelines need to be developed and this includes revisions to national, provincial, and local building codes. These guidelines could be more rigorously enforced in radon-prone areas," says the report. "The approach here is not to over-regulate the building industry, but to provide it with the knowledge and tools needed to play an effective role in radon mitigation."

The report says that "a combination of radon-resistant requirements in new homes and mandatory testing of existing homes could lead to virtually complete compliance with the new Canadian radon guidelines within a decade."

For more information about radon in the home, download Radon: A Guide for Canadian Homeowners, produced jointly by Canada Mortgage and Housing Corp. and Health Canada.

Published: August 24, 2006

By Jim Adair
Realty Times

2006-08-10T11:21:00.000-06:00

CANADIANS LOVE THE CONDO LIFESTYLE

There's been a dramatic change to Toronto's skyline in the last few years as dozens of new high-rise condominiums have been built to feed the current housing boom. While it appears the market may be cooling, a new survey suggests that the long-term prognosis is good for condo developers in Canada.

The survey, conducted by Ipsos-Reid.ca for TD Bank, says that younger Canadians are more willing to consider raising a family in a condo than those who are over 45 years old. Overall, 80 per cent of the people surveyed would not consider raising a family in a condominium, but those in the age group that's most likely ready to start a family (25 to 34-year-olds) are the most open to the idea of condo living.

The results also indicate that those who currently live in condos are enjoying the experience. "Younger Canadians who bought condos as their first step into the housing markets have grown accustomed to the numerous benefits of the condo lifestyle, and many are considering extending them into the next phase of their lives," says Chris Wisniewski of TD Canada Trust.

The survey, conducted among adults aged 25-59 in Toronto, Montreal, Vancouver, Calgary and Ottawa, found that 64 per cent of respondents would not be likely to consider purchasing a condo as a primary residence. But the 35 per cent who would consider it are driving condo sales to record levels.

In Toronto, it's expected that a record number of new condos will be built for the second consecutive year. In June, more new high-rise condos were sold in the city than ever before. "Home buyers were snapping up a new condo every four minutes the sales offices were open," says Desi Auciello, president of the Greater Toronto Home Builders' Association. "Frankly, we never thought we'd see the day when low-rise product would represent the minority of our sales, particularly to this extent," he says. Six out of every 10 new homes sold in June were high-rise suites. Through the first six months of the year, high-rise sales are running two per cent ahead of last year's pace, while low-rise sales have declined by 10 per cent.

In the resale market, high-rise condos represented 20.2 per cent of the market share in July. The median price for a resale condo in the Greater Toronto Area in July was $214,000, while the average new high-rise condo price in June was $314,370. The average price for resale homes of all types in July was $358,035.

Not surprisingly, affordability is one of the main reasons why condos continue to be popular, and was cited in the survey by 57 per cent of those who said they would choose a condo as their primary residence. Other reasons for buying a condo, according to the survey results, are because they are "easier maintain (69 per cent)", and because people are "attracted to the condo lifestyle" (45 per cent).

Asked what amenities condos can offer to families, the top answers were building security (91 per cent), proximity to public transit (87 per cent), pool or recreational facilities for children (83 per cent), close to work (81 per cent), and proximity to schools (81 per cent).

Torontonians surveyed were the most likely to say all of these amenities are important to have for raising children in a condo, and were also the most likely to say they would not consider buying a condo because there is "no backyard or play areas."

People in Montreal were the most likely to say that condos are not suitable for families with children living at home, and 87 per cent said they would not be likely to consider starting and raising a family in a condo.

In contrast, Vancouver residents were the most likely to have lived in a condo either now or in the past (36 per cent), and the most likely to say they would consider buying a condo as their primary residence. They are also the most likely to consider starting a family and raising children in a condo.

Affordability is the number one reason why they would purchase a condo.

"Traditional attitudes change slowly," says Wisniewski. "Yet, as condo developers continue to create new projects with more family-friendly features and amenities, I think we can expect to see a rise in the number of families with children who choose this option."

Published: August 10, 2006

By Jim Adair

Realty Times

2006-07-18T11:51:00.000-06:00

CANADIAN REAL ESTATE MARKETS SET RECORDS IN FIRST-HALF '06

Calgary, Edmonton lead sales activity

Resale housing activity in Canada's major markets in the first half of 2006 set a new record for the first six months of any year, The Canadian Real Estate Association reported this week.

Sales activity is on pace to set a new annual record this year despite expected softening in the second half of the year, the association reported.

Actual unadjusted home sales via the multiple listing service in Canada's major markets totaled 186,177 units in the first half of 2006, a 3.6 percent rise over the previous record for first-half activity set in 2005.

Sales activity was particularly strong in Calgary and Edmonton, the association reported, and new records for resale housing activity in the first six months of the year were set in those cities and Regina, Saskatoon, Winnipeg, London, Sudbury, Ottawa, Montreal and Quebec City. Seasonally adjusted MLS home sales in the second quarter of 2006 numbered 84,391 units – which represents a slight decline from the record levels posted over the past year.

Actual unadjusted sales reached the second highest level on record for the second-quarter period, and were 0.5 percent below activity levels reached during second-quarter 2005. Seasonally adjusted home sales activity eased by about 1 percent from the previous month to 28,185 units in June 2006. Monthly sales activity ebbed in Toronto, Edmonton, Halifax, and a number of other markets, which more than offset monthly gains in Calgary, Ottawa, Vancouver, Winnipeg, Montreal, and London.

Actual unadjusted MLS residential new listings totaled 308,923 units in the first half of 2006 – a new record for the first six months of the year and the highest level on record for any six-month period. New listings were up by 4.6 percent from the first half of last year and were 2.3 percent higher than the previous record set in the first half of 1990, which is the only other six-month period on record in which new listings topped 300,000 units, the association reported.

"There are no signs that new listings have peaked, as seasonally adjusted quarterly and monthly new listings reached their highest levels in more than 15 years," the association also announced. Victoria and Montreal led the increases, with seasonally adjusted new listings in the second quarter reaching the highest level since fourth-quarter 1990. "A rebound in Calgary helped to push major market new listings to the highest monthly level since May 1991."

The major market MLS residential average price at mid-year was up by 11.8 percent compared to December of last year. It was also up by 12.2 percent year-over-year in the second quarter, which tied with the second quarter of 2004 for the highest year-over-year price growth of any quarter in the past 15 years. The 6.8 percent jump in price from the last quarter was also the highest quarterly increase since 1989.

Average price in the second quarter of 2006 set new quarterly records in almost every major market in Canada. The major market MLS residential average price reached $269,000 (in U.S. dollars) in June – up 11.8 percent from the same month last year.

Average price has posted double-digit year-over-year gains in every month during the first half of 2006, the association announced, and reached the highest monthly level on record in June in Calgary, Edmonton, London, Montreal and Quebec City.

The average home price fell from the record levels reached in May 2006 in a number of other markets.

CREA Chief Economist Gregory Klump said in a statement, "The housing market is tightest in Alberta, where a sizzling job market is stoking buyer demand and fueling remarkable price increases. The rise in new listings in Montreal and Toronto gives buyers in those centers a wider selection of homes to choose from, and will keep price increases in those markets below those for major markets in British Columbia and Alberta."

The association noted in the announcement that average price information can be useful in establishing trends over time, but does not indicate actual prices in centers comprised of widely divergent neighborhoods or account for price differential between geographic areas.

The Canadian Real Estate Association represents about 85,000 Realtors.

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Tuesday, July 18, 2006

Inman News

2006-06-14T16:21:00.000-06:00

CANADIAN REAL ESTATE SALES HIT RECORD
Canadian real estate sales hit record
Average home price rises 13% across major markets

The Canadian Real Estate Association reported today that actual home sales via the Multiple Listing Service in Canada's major markets rose 4.4 percent, topping the previous record set last May. And sales activity for the first five months of the year was up 5 percent compared to the same period last year.

Existing-home sales activity in Canada's major markets continued to soar in May, with actual sales activity breaking all previous records. The average home price increased 12.9 percent from May 2005 to May 2006, reaching a record $273,148 (in U.S. dollars), the association also reported.

On a seasonally adjusted basis, transactions rose to 28,441 units in May -- up 2.4 percent compared to April. And 37,460 total units were sold in May. The seasonally adjusted statistics are a projection of a monthly total over a 12-month period, adjusted for season fluctuations in sales activity.

New year-to-date sales records were set in Calgary, Edmonton, Saskatoon, Winnipeg, Toronto, London, Kitchener, Sudbury, Ottawa, Montreal, Quebec City and Saint John.

"Seasonally adjusted sales surpassed all previous records for the month of May on a national basis, and in a number of major markets including Calgary, Edmonton, Toronto, Sudbury, Quebec City, Saint John, and Halifax. Actual (unadjusted) new listings also reached the highest level for any month on record in May," the association reported.

New listings totaled 58,794 units in May -- a year-over-year increase of 6.3 percent and a 3.1 percent increase from the previous peak reached in March 2006.

Seasonally adjusted MLS residential new listings increased 0.9 percent in April and reached the highest level since May 1991, at 46,117 units. "The monthly increase in new listings was less than the increase in sales activity, which caused the market to tighten slightly," the association reported.

The MLS residential average price set monthly records in several markets, among them: Vancouver, Calgary, Edmonton, Regina, Saskatoon, London, Hamilton, Montreal, and Saint John.

"May marks the fourth consecutive month in which the major-market average residential price broke all previous records," association chief economist Gregory Klump said in a statement. "Sales activity continues to run high, despite rising interest rates and home prices. This shows how additional full time job growth, rising incomes and resilient consumer confidence are working together to keep housing demand strong."

He added, "Recent price increases are resulting in a growing shortage of lower-priced resale home listings in a number of markets. This is crimping sales in lower price ranges and pushing up the average price for MLS home sales."

The Canadian Real Estate Association is among Canada's largest single-industry trade associations, and represents about 85,000 Realtors working through 99 real estate Boards, 10 provincial associations and one territorial association.

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Article Offered by Inman News

Happy Virtual Assistants Day!

2006-05-19T09:24:00.000-06:00

Today is the day....

Happy Virtual Assistants Day to all VA's!!
I know that many of you have very full businesses, but I hope you are able to find a little time to pamper yourself today. It is a beautiful warm day and the start of the Victoria Day long weekend. I know there have recently been a few discussions about what a client could get their VA to thank them and in celebration of this day. I would love to hear how your clients have celebrated this day for you. Please comment if/when you have a chance and let us know.

Enjoy YOUR day VA's and have a great weekend.