by RMLS Communication Department | Aug 25, 2011 | Guest Post
Big news from the RMLS™ Board of Directors!
Written by Kurt von Wasmuth, President & CEO of RMLS™
Recently, some very important actions were taken by the RMLS™ Board of Directors. The steps they took protect all RMLS™ subscribers and their businesses. These actions should be understood and celebrated by all involved with RMLS™ (subscribers, shareholders, vendors and staff).
CIVIX-DDI LLC (CIVIX) is a corporation that holds a patent that it believes every MLS in the country currently violates. CIVIX’s patent is for an online system that allows users to search, display and transmit data. As you can imagine, all MLSs and innumerable other online companies use technology that allows users to perform these functions.
CIVIX has been pursuing this patent infringement claim against many online businesses, such as companies like Microsoft, Expedia, Move Inc. (operator of Realtor.com®, Top Producer Systems®, ListHub®, etc.), which have all settled after consulting with legal attorneys regarding this claim.
In May of this year, MRIS (then-largest MLS in the country), also chose to settle with CIVIX, instead of risking the large fees involved with fighting a lengthy legal battle. In response, RMLS™ worked in conjunction with about 50 other MLS providers to ask the National Association of Realtors® to step in to see if they could negotiate a fee for CIVIX to leave the real estate industry alone.
Their response was for MLSs to pay $7.5 million dollars (roughly $9.06 per subscriber).
RMLS™ has paid this fee per subscriber, which amounted to just under $100,000, and as a result, is now covered and cannot be sued for this patent infringement. Furthermore, this settlement covers all of our shareholders, brokers, agents and software vendors in this area.
Last, and maybe the best news of all, is that the RMLS™ Board of Directors voted to pay this fee out of our RMLS™ emergency funds. This means that there will be no special assessment to subscribers and we will not have to raise dues in order to cover this payment.
I think the Board was generous as well as cognizant of today’s marketplace when they decided not to pass the cost on to our subscribers. Although there is no call to action for our subscribers, they should know that they are covered and that the fee has already been paid.
Thank you for your ongoing support of RMLS™.
To view a special video message from Kurt on this topic, go to http://bit.ly/Kurt8242011
Or, click on this image below!
by RMLS Communication Department | Aug 24, 2011 | Guest Post
Guest Post Written By Bonnie Baldwin, Vice President of the Rose City Chapter of National Association of Independent Fee Appraisers (NAIFA)
The one true constant in our industry is change. As real estate agents, you have a comprehensive understanding of your market, and you fully describe the properties you list, market and sell. You can identify the components for condition and quality as good, average and poor. You can define a view and its perception in the market. And, you know how to read the grid section of an appraisal, and comprehend and identify with the comments.
As we all know, when you throw a stone in the water, you get a ripple effect, which in this case will be referred to as the Uniform Appraisal Dataset (UAD), the “new language” of appraisal. This ripple will require a new understanding of the definitions and terms utilized in an appraisal that will code the quality and condition rating of a property. There will be new codes and abbreviations for rooms below grade, view and location codes. One and two story descriptions of the design/style of a home will be a thing of the past; now it will be architectural descriptions only. 61 different fields on four different appraisal report forms will reflect these new changes.
The Uniform Appraisal Dataset (UAD) is the “big news” in the appraisal and lending world today. Fannie Mae and Freddie Mac have established a specific set of responses that all appraisers will be required to comply with for any appraisal being submitted to the secondary market. The intent is to support consistent appraisal reporting, regardless of the geographic location of the property or any localized reporting conventions, by clarifying vague data currently utilized in the typical appraisal report.
Effective September 1, 2011, Fannie Mae and Freddie Mac are set to roll out the Uniform Mortgage Data Program (UMDP) creating a uniform approach for receiving and handling appraisal data with the intent to improve the quality and consistency of appraisal data on loans delivered to the government-sponsored enterprises (GSEs). This standardization was mandated at the direction of the Federal Housing Finance Agency (FHFA) to improve operational efficiencies and to require appraisers, lenders, and appraisal management companies to conform to the new standardized requirements. HUD/FHA has also indicated they will be implementing the Uniform Appraisal Dataset later this year.
For more specific information about the “New Language” of appraisal, visit Fannie Mae’s website at www.efanniemae.com. Then, search for the Uniform Appraisal Dataset (UAD). Once there, click “UAD Field-Specific Standardization Requirements,” and print pages 34 – 37 for a useful reference of the codes and definitions. As a Certified Appraiser and Vice President of the Rose City Chapter of NAIFA, I encourage you to contact a Board Member or your NAIFA Appraiser at www.ifanw.com for additional information.
by RMLS Communication Department | Aug 22, 2011 | Lockbox, Statistics, Supra
Activity decreases in Washington and Oregon
When comparing the week of August 8 – August 14 with the week prior, the number of times an RMLS™ subscriber opened a Supra lockbox decreased 4.3% in Washington and 0.9% in Oregon.
Washington
Oregon
Archive
View an archive of the Supra lockbox statistical reports on Flickr.
by RMLS Communication Department | Aug 22, 2011 | RMLSweb
Learn more about these two new Supplement forms!
Five new Supplement forms became available for subscribers on August 3rd. These new forms allow subscribers to share even more details about their listings. Read about the Additional Structures Supplement form and the Farm and Ranches Supplement form below!
Additional Structures Supplement:
The new Additional Structures Supplement allows listing agents to describe buildings or structures on the property other than the main building itself. For example, do you have a client who is selling a home with a chicken coop? Or, perhaps your client’s home has a particularly lovely gazebo. You can use this form to describe these additional structures that add to the listing’s attraction.
You can describe up to six additional structures using this form. Other types of structures you can describe are garages, barns and second residences! You can also specify whether or not a Conditional Use Permit is required for the second residence.
The form allows you to enter in information about the additional building’s dimensions, approximate square footage, numbers of bedrooms and bathrooms, and the year it was built.
Remember to use the Supplement Public Remarks field to provide even more details about the additional structure(s)!
Click here to view the Additional Structures Supplement.
Farm and Ranches Supplement:
The Farm and Ranches Supplement form contains fields that already existed for the former Farm (FRM) category. But, with the new Supplement form for Farm and Ranches listings, you have even more options for describing the property.
New options available are:
- Certified Organic Yes/No field
- New value option for CRANBOG (Cranberry Bog) in Currently Usable field
- Extended the Approx. # of Acres field to offer options for nursery, orchard or vineyard
This Supplement form has a Public Remarks field as well for you to further describe the property.
Click here to view the Farm and Ranches Supplement.
Want to know more about Supplement forms? View the Utilizing Supplement Forms tutorial, it’s a visual learning experience!
To see the other Supplement forms and to see other changes that were released with the Forms Change, view the Listing Forms Change Summary document.
Questions? Contact the RMLS™ Help Desk at 503-872-8002 or toll-free at 877-256-2169.
by RMLS Communication Department | Aug 16, 2011 | RMLSweb
Learn more about these two new Supplement forms!
On August 3rd, our Forms Change was released, which made five new Supplement forms available for subscribers to use to share even more information about their listings. In this blog post, we are highlighting the Condo and Amenities Supplement forms. Later, we will highlight the other new Supplement forms.
Condo Supplement:
The new Condo Supplement includes fields that offer the ability for Listing Agents to describe the condo building beyond just the unit for sale. For example, there is a field for Condo Conversion Yes/No, and a field for the number of condo units in the complex.
Want to provide information about the condo association? The Condo Supplement makes this possible. There are fields for Condo Association Name, Condo Association Contact, Condo Association URL and Condo Association Phone.
There is also a field for Pending HOA Litigation Yes/No. Keep in mind that the condo association information and pending litigation fields are kept private and can only be viewed by subscribers, meaning that they are not included in client reports.
Note: We moved the Upper Condo Level field from the address line of the main Listing Load page to the Condo Supplement form. The visibility of the field stays the same (the field will only be visible when the “Condo Unit Location” is set as UPPER).
Click here to view the Condo Supplement.
Amenities Supplement:
Is your client an avid public bus commuter? Does your client have a child who rides the public school bus? Or perhaps your client has a pet that needs frequent trips to the park? The Amenities Supplement allows Listing Agents to describe the distance from the property to different public features, such as parks, bus stops and shopping areas.
The Amenities Supplement also provides a field for Easement Information and a field for Walk Score! Many consumers are familiar with the Walk Score website, which rates neighborhoods for distance to walkable amenities, like shops, restaurants, transportation, etc. Visit walkscore.com for more information. The Walk Score field in the Amenities Supplement allows for the actual number of the walk score to be entered.
Click here to view the Amenities Supplement.
General Information:
On a general note, we want to mention that all of the new Supplement forms (except for Auction, which isn’t new) provide a Public Remarks field to further describe the property for that supplement.
Want to know more about Supplement forms? View the Utilizing Supplement Forms tutorial, it’s a visual learning experience!
To see the other Supplement forms and to see other changes that were released with the Forms Change, view the Listing Forms Change Summary document.
Questions? Contact the RMLS™ Help Desk at 503-872-8002 or toll-free at 877-256-2169.
