As you continue to work hard on behalf of your clients during this pandemic, the Board is doing the same for you. There are some exciting things in the works right now slated for a fall launch, and we thought you’d appreciate a quick preview.
Here’s a snapshot of tools and services for FVREB members to look forward to:
1. *NEW* MLS® Home Price Index (HPI) Dashboard
Many of you know Laurie (in the Communications department) aka ‘the sexy stats gal’ who helps to compile the month-end MLS® stats, presents at office meetings about stats and their value to REALTORS®, mans the stats table at the Conference & Trade Show, and just generally loves your MLS® stats!
Well, she’s over the moon about this new tool and is putting a ‘rush’ on getting it out to you.
The MLS® HPI Dashboard is a self-select home price measurement tool – similar to the FVREB Stats Centre, but better – that you can use to establish more accurate home prices for your clients. It won’t replace your CMA, but it will be an excellent tool to validate it.
As you know, the index measures changes in home prices. It also produces a ‘benchmark’ price, or the price of a ‘typical’ home, based on characteristics common to that property type in that area. The index is considered the most accurate gauge of home prices and price trends in Canada. The media follow it. Banks and credit unions use it. Even CMHC, relies on it.
FVREB REALTORS® have enjoyed the ‘HPI advantage’ since it was developed by our Board in 1995 and relaunched by CREA in 2005, but the challenge has always been how to apply the MLS® HPI to your day-to-day work. How do I use the MLS® HPI to calculate the current value of my seller’s home? How can I use it to calculate what a buyer should pay? What does benchmark really mean and how does it compare to my client’s home?
Enter the new tool, which answers these questions for you. No more manual calculations.
You’ll even be able to plug in your client’s property description, last sale date and price and produce a current estimated sale price. Genius!
Keep your eyes peeled for the dates for the launch and virtual learn-at-lunch session. Rest assured, the ‘sexy stats gal’ will be in attendance!
2. New option for paying Board invoices: Member Direct Billing (MDB)
Innovative Boards offer their members choices. This fall, we’re pleased to introduce a new option for brokerages to pay Board invoices.
You can continue to pay through Office Billing and receive a 7.5 per cent FVREB discount for early payment or you can set your office up for Member Direct Billing (MDB).
With MDB, offices will lose the early payment discount, but would gain a number of advantages:
- Reduce your administrative burden, costs, and risk
- Give your representatives direct control over their own billing (As long as your office meets the criteria, which includes every one of your members’ personal and credit card info registered on the Member Portal.)
- Put the responsibility of collection on the Board
We know many brokerages are happy with the status quo. We also know that many offices would appreciate greater flexibility, which they’ll be able to have with MDB. Plus, many members would like this option and may be enticed to join brokerages that offer it. MDB, coming soon, to an office near you!
3. Broker Load and Upload Listing (formerly ADT) re-launch
A few years ago, we launched the training and technology for our member Brokerages to be able to load, update and change their own listings on Paragon. A do-it-yourself solution. Total control over your own listings.
Broker Load is cheaper than Board Load – $15 versus $50 – faster than Board Load and gives Brokers absolute control. It gives offices total oversight and the upload of listings or listing changes are not dependent on when Board staff are working.
Who doesn’t want the flexibility to get their listing posted ASAP and make pricing adjustments or add a virtual URL on a Saturday afternoon? The faster you are, the more competitive you are.
When we first introduced Broker Load, we received a lot of interest initially from Brokers and designated staff who signed up for the Broker Load training, but many offices never followed through on implementing the innovation. Why?
Because of the perceived workload of the painstaking and important data-entry component of loading listings and Brokers told us, no one can do it better than Board staff, so why would I take that on? Well, we have news for you.
There is someone who does it faster and cheaper than Board staff. It’s FVREB REALTORS®! Yes, our very own members loading their own listing data using Upload Listing (formerly ADT).
For years now, every month, over 80 per cent of our Board’s listings and their modifications have been loaded by your own representatives using ‘member-load’ and Agent Modify.
We have one of the highest rates of ADT-loaded listings and our goal is to get it even higher – to 90 per cent!
But bar none, the most efficient and economical method of uploading listings (and their changes) is the COMBINATION of Upload Listing and Broker Load. Members load their data. Brokers approve and flick the switch – day, evening, night or weekend.
This gives Brokerages the most control of their own listings and the greatest competitive advantage. It is the Cadillac and the method that we will be trumpeting and re-rolling out this fall. Stay tuned!
Source: FVREB Communications