Eclipsing CDOM: Ask Technical Terry

Eclipsing CDOM: Ask Technical Terry

Ask Technical Terry is a series RMLS™ aims to offer once a month. RMLS™ subscribers will drive the content—submit any question about RMLS™ to Technical Terry in the comments or by emailing communications@rmls.com. Don’t be shy—we won’t identify you by name.

Dearest Technical Terry,

Oh em geeee! I’m atwitter thinking about the upcoming eclipse and how our SentriSmart™ app and SentriLock lockboxes won’t work during that time. I have clients that are convinced that their perfect home can only be discovered during the time of totality! What am I going to do?

Clueless in Coquille

Dearest Clueless,

Not to worry! Not only is Coquille not in the path of totality for this eclipse, but the eclipse will have ZERO bearing on your use of the SentriLock system.  SentriLock’s technology should not be impacted in any way by the solar eclipse.

Traffic, on the other hand? I’m thinking you may just want to pick another day to cruise around looking for your clients’ perfect home. But what do I know? Isn’t the customer always right?

Technical Terry

 

Dear TT,

I was just discussing days on market with my clients the other day and had a hard time explaining the difference between DOM and CDOM is. Can you help?

Dum DOM in Damascus

DDD,

Of course I can help! Days on market, or DOM, is a standard industry term used to describe the number of days between list date and the off-market date. When you have a listing that simply goes from a single list date to a single off-market date (let’s say in 50 days for an example) the calculation is quite simple. In this example, DOM and CDOM would both be 50 days.

It’s when you have a property that you list for sale, then cancel it, then relist it with a new MLS number that the calculations get a bit trickier.

Picture this: you list a home and after 30 days you haven’t received any offers and the seller wants to do some repairs. You cancel the original listing and then relist once the repairs are done. The second listing gets a new MLS number. When the gap between your cancellation of the first listing and the relisting date is fewer than 31 days, any off-market gap will not be counted in the CDOM calculation.

So if the first listing had 30 days of market time, the time when the listing was off-market for repairs was seven days then the new listing sold/closed in 21 days, the CDOM would be 51 days. This scenario is called linear relisting.

A final scenario is when you have a listing for sale and cancel it to get a new MLS number with NO gap between the cancellation of the first and second listings. In this case, CDOM would reflect the number of days the property was on the market from the original list date of the first listing through the off-market date of the second listing. This is called an overlapping relisting.

 

Does that help? RMLS™ also offers Document #1742, How CDOM is Calculated, if you want to read further.

TT

Eclipsing CDOM: Ask Technical Terry

Ask Technical Terry: Watch List, RMLS™ Rules Resources

Ask Technical Terry is a series RMLS™ aims to offer once a month. RMLS™ subscribers will drive the content—submit any question about RMLS™ to Technical Terry in the comments or by emailing communications@rmls.com. Don’t be shy—we won’t identify you by name.

Dear TT,

I am SOOOOOO frustrated! I was watching a property using the new Watch List feature on RMLSweb. I have a client that was interested in purchasing it if it ever hit the market again. Well I found out today that not only did it come on the market but it’s already pending! What gives? Why was I not notified? I have a very upset buyer!

Watching for Nothing

Dear WfN:

You did not mention how you were watching the property—MLS number or Tax ID—but based on what happened, I suspect that you were watching the MLS number for an off-market record of the property.

The way Watch List works, it’s looking for activity on either the MLS number or Tax ID. Since the MLS number you were watching was off-market it would never have any additional activity to trigger a Watch List notification. You should always watch the Tax ID number if the property is in some off-market status. That way if the property is relisted, you will be notified immediately.

Sorry to hear about your lost sale, WfN! Now that you know the crucial difference between watching a MLS number and a Tax ID, I’ll bet you’ll never have this issue again.

Technical Terry

 

Hello Technical Terry-

The other day I got my very first Watch List notification—a property on the Oregon Coast that had just gone on the market. The only trouble is, I don’t know why I was watching it! Was I just testing the system? Was it for a past client who was looking for a vacation home? Was it for a prospective client? I just don’t remember! Can RMLS™ help?

Laurie in LO

“L-O,” Laurie! (See what I did there?)—

One enhancement request we’ve heard from more than a few RMLS™ subscribers is to add a notes field for each Watch List item. Any notes the user enters could help jog his or her memory about why the property is on the list. If the Tax ID number you’re watching comes back on the market in two years (or more!), will you remember why you were interested in it? Other RMLS™ subscribers have expressed their desire for some kind of reference point.

Our development team has been super busy lately with the RMLSweb forms change project and the new mapping module but once they get some breathing room I suspect you’ll see this feature added to Watch List.

Terry on the WWW

 

Greetings, Technical Terry:

I’m new to RMLS™—I just moved to the Portland area from Arizona. Can you tell me about how the rules are different at RMLS™ compared to the market where I spent the last ten years? One of my coworkers told me that branded tour videos aren’t allowed on RMLSweb which is much different than what I’m used to. Where do I start to learn how things work in my new market?

Eager Beaver

Greetings, Eager Beaver:

Welcome to the Pacific northwest! And what a refreshing, proactive approach to learning about your new market. It’s true, Section 3.24 of the RMLS™ Rules and Regulations prohibits personal advertising and branding in listing information, which includes video and virtual tours—so your education is already underway.

If you’re specifically looking for a rundown on RMLS™ rules, I’d recommend attending the RMLS™ Rules and Regulations class offered at RMLS™ offices. If one of the scheduled classes is inconvenient for you, RMLS™ trainers can also come to an office meeting to present a class! Just email training@rmls.com or call (503) 236-7657 to set up an appointment.

Even after you take the class the RMLS™ Data Accuracy team is here to help you navigate the RMLS™ Rules and Regulations. They field questions from RMLS™ subscribers every day about the rules and the listing data on RMLSweb. They can be reached via email at dataaccuracy@rmls.com or call (503) 236-7657.

That should be enough to get you started, Eager Beaver, but I would be remiss if I didn’t gently suggest having a thorough read of the RMLS™ Rules and Regulations yourself to see what you find. A direct link to the document can be found on the RMLSweb desktop page under the Links menu in the left sidebar. You’ll be an expert on your new market in no time!

Technical Terry

Eclipsing CDOM: Ask Technical Terry

Ask Technical Terry: Watch List, RMLS™ Rules Resources

Ask Technical Terry is a series RMLS™ aims to offer once a month. RMLS™ subscribers will drive the content—submit any question about RMLS™ to Technical Terry in the comments or by emailing communications@rmls.com. Don’t be shy—we won’t identify you by name.

Dear TT,

I am SOOOOOO frustrated! I was watching a property using the new Watch List feature on RMLSweb. I have a client that was interested in purchasing it if it ever hit the market again. Well I found out today that not only did it come on the market but it’s already pending! What gives? Why was I not notified? I have a very upset buyer!

Watching for Nothing

Dear WfN:

You did not mention how you were watching the property—MLS number or Tax ID—but based on what happened, I suspect that you were watching the MLS number for an off-market record of the property.

The way Watch List works, it’s looking for activity on either the MLS number or Tax ID. Since the MLS number you were watching was off-market it would never have any additional activity to trigger a Watch List notification. You should always watch the Tax ID number if the property is in some off-market status. That way if the property is relisted, you will be notified immediately.

Sorry to hear about your lost sale, WfN! Now that you know the crucial difference between watching a MLS number and a Tax ID, I’ll bet you’ll never have this issue again.

Technical Terry

 

Hello Technical Terry-

The other day I got my very first Watch List notification—a property on the Oregon Coast that had just gone on the market. The only trouble is, I don’t know why I was watching it! Was I just testing the system? Was it for a past client who was looking for a vacation home? Was it for a prospective client? I just don’t remember! Can RMLS™ help?

Laurie in LO

“L-O,” Laurie! (See what I did there?)—

One enhancement request we’ve heard from more than a few RMLS™ subscribers is to add a notes field for each Watch List item. Any notes the user enters could help jog his or her memory about why the property is on the list. If the Tax ID number you’re watching comes back on the market in two years (or more!), will you remember why you were interested in it? Other RMLS™ subscribers have expressed their desire for some kind of reference point.

Our development team has been super busy lately with the RMLSweb forms change project and the new mapping module but once they get some breathing room I suspect you’ll see this feature added to Watch List.

Terry on the WWW

 

Greetings, Technical Terry:

I’m new to RMLS™—I just moved to the Portland area from Arizona. Can you tell me about how the rules are different at RMLS™ compared to the market where I spent the last ten years? One of my coworkers told me that branded tour videos aren’t allowed on RMLSweb which is much different than what I’m used to. Where do I start to learn how things work in my new market?

Eager Beaver

Greetings, Eager Beaver:

Welcome to the Pacific northwest! And what a refreshing, proactive approach to learning about your new market. It’s true, Section 3.24 of the RMLS™ Rules and Regulations prohibits personal advertising and branding in listing information, which includes video and virtual tours—so your education is already underway.

If you’re specifically looking for a rundown on RMLS™ rules, I’d recommend attending the RMLS™ Rules and Regulations class offered at RMLS™ offices. If one of the scheduled classes is inconvenient for you, RMLS™ trainers can also come to an office meeting to present a class! Just email training@rmls.com or call (503) 236-7657 to set up an appointment.

Even after you take the class the RMLS™ Data Accuracy team is here to help you navigate the RMLS™ Rules and Regulations. They field questions from RMLS™ subscribers every day about the rules and the listing data on RMLSweb. They can be reached via email at dataaccuracy@rmls.com or call (503) 236-7657.

That should be enough to get you started, Eager Beaver, but I would be remiss if I didn’t gently suggest having a thorough read of the RMLS™ Rules and Regulations yourself to see what you find. A direct link to the document can be found on the RMLSweb desktop page under the Links menu in the left sidebar. You’ll be an expert on your new market in no time!

Technical Terry

Eclipsing CDOM: Ask Technical Terry

Ask Technical Terry: SentriSmart™ Codes, Pending Listings, Batteries

Ask Technical Terry is a series RMLS™ aims to offer once a month. RMLS™ subscribers will drive the content—submit any question about RMLS™ to Technical Terry in the comments or by emailing communications@rmls.com. Don’t be shy—we won’t identify you by name.

Hey TT-

Help! I witnessed a fellow REALTOR® giving out a SentriSmart™ lockbox access code to their buyers! I was at a coffee shop and overheard this person on the phone, walking someone through the process of opening a lockbox, including retrieving the lockbox serial number and using a lockbox code. When I approached them about the issue a few minutes later, they said they did not want to drive all the way to the coast to show a vacant condo. Is this OK?

Pensive in the Pearl

As you probably know, this is a major violation of the RMLS™ Rules and Regulations as well as the SentriLock user agreement! This person could face sanctions as high as $2500 and expulsion from RMLS™!

Perhaps you’ve noticed that RMLS™ has run an article on the RMLSweb desktop a few times over the past several months about this kind of issue. Detailing the liability concerns would take far too long, but this type of behavior strikes at the very core of REALTOR® professionalism. When the RMLS™ Board of Directors made the decision to transition to SentriLock, one of the key points considered was the numerous ways to open a lockbox. Unfortunately this enhanced capability has enhanced the potential for misuse as well. This is one example of misuse made possible because of technology.

SentriLock is a REALTOR®-owned company, and as such is keyed into the trends and behaviors of REALTORS® on a national level. SentriLock has developed new reporting capability for administrators (such as the MLS) that allow for GPS correlation between the cell phone using SentriSmart™ to generate an access code and the physical location of the lockbox. If you and your cell phone are in Portland generating a SentriSmart™ access code for a lockbox in Coos Bay, the SentriLock system will flag it. As you can imagine, this technology provides RMLS™ with much more information about this kind of behavior. Please continue to report suspected transgressions to RMLS™, but also be aware that we are watching these reports and responding accordingly.

 

Technical Terry,

One of my clients called me in a huff this morning. He was getting ready to leave for work when a random REALTOR® entered his house with clients! He and his wife accepted an offer last week and wasn’t expecting to see more strangers inside his home. How can I ensure this client won’t get any more surprises until moving day?

Frustrated in Forest Grove

I understand your frustration! This is another issue RMLS™ hears about with some regularity—REALTORS® entering a listing after an offer has been accepted and the listing is in pending status (PEN) on RMLSweb.

Everyone, listen up: if you enter a property currently in pending status on RMLSweb without the permission of the listing agent or owner, you could face some unpleasant repercussions! This activity is a violation of the RMLS™ Rules and Regulations.

We emphasized this information in our recent blog post about the importance of following showing instructions, but it bears repeating. Before showing a property, check the current status of a listing before entering the property. Apps like RPR Mobile™ and HomeSpotter give you easy access to RMLSweb listing information in the field. Then if a listing is in pending status, do not hold a showing! It doesn’t matter if the listing is vacant or occupied, if it’s pending on RMLSweb, do not enter.

 

Dear Technical Terry,

The batteries died in my lockbox and I want to replace them. There’s a great sale on CR123A batteries at my local bulk store, but they’re not Panasonic batteries like the front desk staff at RMLS™ have told me they use exclusively. What’s the big deal? Can’t I use these for my lockbox replacement batteries?

Dead Batteries in the Dalles

It’s sad, but true, DBD—not all CR123A batteries are exactly the same. In this case, the Panasonic batteries hold an extra circuit that ensures the batteries maintain a consistent three-volt power supply. SentriLock lockboxes require a constant three volts to function properly, meaning these are the batteries you’ll need to buy for your SentriLock lockbox.

I know it’s tempting to get whatever battery is easily available, but the lockbox will not function as reliably if it’s not getting that constant three volts of juice. It is because of this that SentriLock will not support or warranty any lockboxes with non-Panasonic batteries in them.

RMLS™ recently created a document outlining some of the finer points of SentriLock batteries. We’ve found Batteries Plus Bulbs or BatterySpace.com to be a fair place to purchase these batteries if you want to have extras on hand for that day when you get a low battery notification.

Eclipsing CDOM: Ask Technical Terry

Ask Technical Terry: SentriSmart™ Codes, Pending Listings, Batteries

Ask Technical Terry is a series RMLS™ aims to offer once a month. RMLS™ subscribers will drive the content—submit any question about RMLS™ to Technical Terry in the comments or by emailing communications@rmls.com. Don’t be shy—we won’t identify you by name.

Hey TT-

Help! I witnessed a fellow REALTOR® giving out a SentriSmart™ lockbox access code to their buyers! I was at a coffee shop and overheard this person on the phone, walking someone through the process of opening a lockbox, including retrieving the lockbox serial number and using a lockbox code. When I approached them about the issue a few minutes later, they said they did not want to drive all the way to the coast to show a vacant condo. Is this OK?

Pensive in the Pearl

As you probably know, this is a major violation of the RMLS™ Rules and Regulations as well as the SentriLock user agreement! This person could face sanctions as high as $2500 and expulsion from RMLS™!

Perhaps you’ve noticed that RMLS™ has run an article on the RMLSweb desktop a few times over the past several months about this kind of issue. Detailing the liability concerns would take far too long, but this type of behavior strikes at the very core of REALTOR® professionalism. When the RMLS™ Board of Directors made the decision to transition to SentriLock, one of the key points considered was the numerous ways to open a lockbox. Unfortunately this enhanced capability has enhanced the potential for misuse as well. This is one example of misuse made possible because of technology.

SentriLock is a REALTOR®-owned company, and as such is keyed into the trends and behaviors of REALTORS® on a national level. SentriLock has developed new reporting capability for administrators (such as the MLS) that allow for GPS correlation between the cell phone using SentriSmart™ to generate an access code and the physical location of the lockbox. If you and your cell phone are in Portland generating a SentriSmart™ access code for a lockbox in Coos Bay, the SentriLock system will flag it. As you can imagine, this technology provides RMLS™ with much more information about this kind of behavior. Please continue to report suspected transgressions to RMLS™, but also be aware that we are watching these reports and responding accordingly.

 

Technical Terry,

One of my clients called me in a huff this morning. He was getting ready to leave for work when a random REALTOR® entered his house with clients! He and his wife accepted an offer last week and wasn’t expecting to see more strangers inside his home. How can I ensure this client won’t get any more surprises until moving day?

Frustrated in Forest Grove

I understand your frustration! This is another issue RMLS™ hears about with some regularity—REALTORS® entering a listing after an offer has been accepted and the listing is in pending status (PEN) on RMLSweb.

Everyone, listen up: if you enter a property currently in pending status on RMLSweb without the permission of the listing agent or owner, you could face some unpleasant repercussions! This activity is a violation of the RMLS™ Rules and Regulations.

We emphasized this information in our recent blog post about the importance of following showing instructions, but it bears repeating. Before showing a property, check the current status of a listing before entering the property. Apps like RPR Mobile™ and HomeSpotter give you easy access to RMLSweb listing information in the field. Then if a listing is in pending status, do not hold a showing! It doesn’t matter if the listing is vacant or occupied, if it’s pending on RMLSweb, do not enter.

 

Dear Technical Terry,

The batteries died in my lockbox and I want to replace them. There’s a great sale on CR123A batteries at my local bulk store, but they’re not Panasonic batteries like the front desk staff at RMLS™ have told me they use exclusively. What’s the big deal? Can’t I use these for my lockbox replacement batteries?

Dead Batteries in the Dalles

It’s sad, but true, DBD—not all CR123A batteries are exactly the same. In this case, the Panasonic batteries hold an extra circuit that ensures the batteries maintain a consistent three-volt power supply. SentriLock lockboxes require a constant three volts to function properly, meaning these are the batteries you’ll need to buy for your SentriLock lockbox.

I know it’s tempting to get whatever battery is easily available, but the lockbox will not function as reliably if it’s not getting that constant three volts of juice. It is because of this that SentriLock will not support or warranty any lockboxes with non-Panasonic batteries in them.

RMLS™ recently created a document outlining some of the finer points of SentriLock batteries. We’ve found Batteries Plus Bulbs or BatterySpace.com to be a fair place to purchase these batteries if you want to have extras on hand for that day when you get a low battery notification.