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MLS Statistics for RAGFL*
MLS
March 2009 iCheck Error Rules and Statistics
MLS
Description
Errors
Errors
Errors
March 30
Last 30 Days
Previous 30 Days
Contact Info in Remarks Field . . . . . . . . . . . . . . . . . . 1 . . . . . . . . . . . . . . . . . 79 . . . . . . . . . . . . . . . . . 51
Contact Info in Internet Field . . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . . . . . . . 47 . . . . . . . . . . . . . . . . . 48
URL in Remarks Field . . . . . . . . . . . . . . . . . . . . . . . . 1 . . . . . . . . . . . . . . . . . 26 . . . . . . . . . . . . . . . . . 29
URL in Internet Field. . . . . . . . . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . . . . . . . 27 . . . . . . . . . . . . . . . . . 34
Invalid Broward County TaxID in FOLIO Field . . . . . . 0 . . . . . . . . . . . . . . . . . . 7 . . . . . . . . . . . . . . . . . . 5
Invalid Dade County TaxID in FOLIO Field . . . . . . . . 0 . . . . . . . . . . . . . . . . . . 5 . . . . . . . . . . . . . . . . . . 3
Invalid Palm Beach County TaxID in FOLIO Field . . . 0 . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . . . . . . . . 0
Style Mismatch. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . . . . . . . 10 . . . . . . . . . . . . . . . . . 11
Open House in Remarks Field . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . . . . . . . 10 . . . . . . . . . . . . . . . . . . 9
Active with No Showings in Remarks Field . . . . . . . . 2 . . . . . . . . . . . . . . . . . 13 . . . . . . . . . . . . . . . . . 15
Invalid Compensation Fields . . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . . . . . . . . 6 . . . . . . . . . . . . . . . . . . 5
Unacceptable Phrases in Remarks Field. . . . . . . . . . 1 . . . . . . . . . . . . . . . . . 46 . . . . . . . . . . . . . . . . . 40
Unacceptable Phrases in Internet Field . . . . . . . . . . . 0 . . . . . . . . . . . . . . . . . 10 . . . . . . . . . . . . . . . . . 10
Unacceptable Information in Subdivision Field . . . . . 0 . . . . . . . . . . . . . . . . . . 3 . . . . . . . . . . . . . . . . . . 2
Branded Virtual Tour. . . . . . . . . . . . . . . . . . . . . . . . . . 1 . . . . . . . . . . . . . . . . . 89 . . . . . . . . . . . . . . . . . 83
Expected Closing Date not updated. . . . . . . . . . . . . 55 . . . . . . . . . . . . . . . . 927 . . . . . . . . . . . . . . . . 739
DOM Refresh . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . . . . . . 154 . . . . . . . . . . . . . . . . 183
Duplicate Listing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 . . . . . . . . . . . . . . . . . 73 . . . . . . . . . . . . . . . . . 80
Courtesy Notice Statistics
Description
Notices
Notices
Notices
Today
Last 30 Days
Previous 30 Days
Listings Set To Expire in 10 Days. . . . . . . . . . . . . . 200 . . . . . . . . . . . . . . . 3,729 . . . . . . . . . . . . . . .3,544
Listings Set To Close in 10 Days . . . . . . . . . . . . . . . 77 . . . . . . . . . . . . . . . 2,349 . . . . . . . . . . . . . . .1,884
Agent Reported Statistics
Description
Notices
Notices
Notices
Today
Previous 30 Days
Previous 30 Days
Possible errors reported by members . . . . . . . . . . . 28 . . . . . . . . . . . . . . . . 516 . . . . . . . . . . . . . . . . 621
While it's virtually impossible to manually check every listing entered into the MLS system, iCheck automates a large portion of
that task, making for faster and better oversight. It provides a near real-time level of quality and control, both in verification of
data and rules compliance, and automated notification of corrections needed.iCheck Enhancing the Accuracy of MLS Data
As a result of the NAR/DOJ
settlement, sellers will now need
to answer three new questions that
relate to all new listings. These ques-
tions have the greatest impact on
data made available to Virtual Office
Websites (VOW operators) and the
ability to operate an on-line broker-
age business within NAR defined
guidelines. More VOW information,
such as Governing Policies, Rules
and Regulations, Data Licensing
Agreements, Disclaimers and Terms
of Use, clauses can be found on our
website
under
MLS Content.
The new questions follow the
current internet display option
(INET: Y/N) only if answered Yes.
In addition to the listing being
displayed on the Internet, the first
new question asks if the property
address is allowed to be displayed
(Yes or No). The second question
will allow the use of Automated
Market Valuations (AMV) with the
listing data. This will allow con-
sumers to do their own CMA and
compare it to the listing price. And
the last question allows Blogging,
which allows the VOW operator
to promote an online discussion
about the property, collecting and
displaying this information on their
VOW website. A new Virtual Office
Website (VOW) Disclosure is avail-
able inside Transaction Desk. View
disclosure
New Fields Added to MLS
to be Answered by Sellers
A new rule was recently approved
by the RAGFL Board of Directors
which requires a front photo of a
listing be loaded in the MLS within
4 days of listing input. This follows
the requirement approved by the
Regional MLS to our North and
the other Associations participat-
ing in our SEFMLS to the South.
Most RAGFL members cur-
rently add their own photo(s) as
they input listings. If you would
like detailed instructions, view
a quick
which shows a viewer how to
add up to 16 photos per listing.
A Picture Speaks a
Thousand Words
Photo now required in MLS
Previous
Previous
March '09
Month Change
Year Change
New Listings
Single Family
1,433
1,702
-16%
2,336
-39%
Condo-Townhouse
1,816
2,138
-15%
2,578
-30%
Total all Property Types
5,153
6,034
-15%
7,485
-31%
Pending Inventory
Single Family
929
899
3%
499
86%
Condo-Townhouse
901
941
-4%
560
61%
Single Family Sold
Closed Sales
516
398
30%
434
19%
Average Sale Price
$308,460
$275,110
12%
$423,482
-27%
Median Sale Price
$220,000
$213,000
3%
$300,000
-27%
Total Sold Dollar Volume $159,165,360
$109,493,780
45%
$183,791,188
-13%
Closed in 30 Days
25%
26%
-4%
21%
19%
60 Days
19%
14%
36%
16%
19%
90 Days
13%
13%
0%
14%
-7%
120 Days
10%
8%
25%
14%
-29%
121+ Days
33%
39%
-15%
35%
-6%
Condo-Townhouse Sold
Closed Sales
581
486
20%
553
5%
Average Sale Price
$139,116
$145,336
-4%
$195,260
-29%
Median Sale Price
$87,000
$84,900
2%
$138,000
-37%
Total Sold Dollar Volume
$80,826,396
$70,633,296
14%
$107,978,780
-25%
Closed in 30 Days
26%
23%
13%
22%
18%
60 Days
17%
15%
13%
14%
21%
90 Days
14%
15%
-7%
12%
17%
120 Days
9%
11%
-18%
12%
-25%
121+ Days
34%
36%
-6%
40%
-15%
Available Inventory
Single Family
9,192
9,628
-5%
12,558
-27%
Months of Available Inventory
18
24
-26%
29
-38%
Condo-Townhouse
13,078
13,278
-2%
16,237
-19%
Months of Available Inventory
23
27
-18%
29
-23%
Total all Property Types
31,053
31,917
-3%
37,814
-18%
*Note: The above statistics were compiled early April, additional sales for March may be reported that are not re
flected.
Attention Appraisers MarketLinx support for the Market
Conditions Addendum Report
Form 1004MC, the Market Conditions Addendum, is a form required on all appraisals submitted to
Fannie Mae and Freddie Mac beginning April 1. The form requires statistical information of proper-
ties comparable to the appraised property for the previous year broken into 3 time periods, as well as
analysis to evaluate whether overall trends are increasing, decreasing or stable. Additional subjective
information is also requested, such as whether foreclosures are a factor, whether seller-paid financial
assistance is prevalent, etc. A search results grid will be created at each site and shared to all mem-
bers. This grid will include the core fields needed to compute the 1004MC statistics. Appraisers will
use the regular search functions to return a list of all comparable properties within the last year, and
then export those results using this grid to specify the fields to export. The appraiser then copies the
exported data and pastes it into the spreadsheet and all calculations are performed instantly.