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Real Estate Big Data

ListTrac wants Realtors to get paid every time their listing is viewed, just like iTunes pays musicians

ListTrac is announcing today a new revenue model for real estate professionals wherein they are paid for the use of their listings to third party syndicators.

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Today, ListTrac is unveiling what they call a “breakthrough,” and we call a potential game changer. Yes, that phrase is abused more than Axe body spray in a middle school hallway, but it applies. You see, they’re rolling out their new revenue model, which is a new revenue model of sorts for real estate professionals who will now be able to monetize their own listing content as it is distributed across the web.

“Just as musicians are compensated each time their song is played on the Internet, ListTrac wants real estate professionals to be rewarded every time their listing is viewed on the Internet,” said Trent Gardner, CEO of ListTrac.

Flipping the flow of money on its head

ListTrac calls themselves the “Google Analytics” of real estate listings, offering a free tool for Realtors to monitor their listing’s online performance across all real estate search sites, the MLS, and IDX feeds. They’ve partnered with many of the largest MLSs and offer listing metrics and reports to over 400,000 agents and monitor over 500K listings. And their next step is to put that data into a revenue stream for the real estate industry.

“For years, companies have taken listing content and assembled multi-billion dollar business models by monetizing the ‘eye-balls’ looking at this valuable content,” Gardner explains. “However, these business models don’t allow brokers to participate – so they have been sidelined watching others make millions of dollars in IPOs off of their content. ListTrac helps change that paradigm with a framework allowing real estate professionals to monitor and monetize their listing content.”

ListTrac is working with MLSs

In a statement, Gardner says the company went through “an arduous process meeting with MLS tech committees, syndication task forces and MLS boards – all populated with agents and brokers – to ensure that no personal information would be shared and that no MLS listing content would be licensed or sold.”

“ListTrac appealed to our leadership for two primary reasons; their commitment to security in guarding personal information and listings content, and their deep bench of analytics,” said James Harrison, CEO of MLSListings Inc. “The real estate professionals in our Silicon Valley marketplace are Google neighbors, so the bar for analytics is a high one. ListTrac and its growing list of participating portals gives our community what it needs to serve their clients,” said Harrison.

Why ListTrac will be the only player in this field

What fascinates us about ListTrac’s announcement is that it comes with real muscle – a U.S. Patent already awarded for not only the method of measuring and monetizing real estate listings, but the business process of sharing this revenue with the real estate professionals that are the content owners.

Said business process is known as “programmatic advertising,” and ListTrac will be working with MLS firms to monetize listing content, which they say “allows brands to reach consumers at the right time with the right product and the right message – better connecting the advertiser and the consumer.” ListTrac’s terms of use prohibits sharing of membership rosters, and no personally identifiable information about the consumer is not shared or sold.

The program is scheduled to be implemented by the end of this year and revenue generation is expected to begin in early 2016.

#ListTrac

Tara Steele is the News Director at The American Genius, covering entrepreneur, real estate, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, simply click the link below.

Real Estate Big Data

Ultra simple shortcut to attract new (or more) real estate investors

(REAL ESTATE) Without having to spend any money, this shortcut can attract more business to boost your bottom line. And it’s a huge win-win for the nation.

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Whether you’re a real estate veteran, or looking to expand your services to the real estate investment world, a wild shortcut has just been launched, and you already have access to it for free if you’re a Realtor.

Realtors Property Resource (owned by the National Association of Realtors (NAR)), has rolled out a map layer to unveil the Qualified Opportunity Zones (QOZ) across the nation.

The QOZ program was created in 2017 as part of the Tax Cuts and Jobs Act and is designed to improve local economies (specifically the economically disadvantaged areas) through long-term investments.

There are 8,700 QOZs in America, and real estate investment and development in those areas are rewarded with tax incentives (potentially reducing their tax liability by 10-15%, and appreciation on the investment is tax free if held for at least 10 years).

And now, you can find the investment opportunities in seconds, generate reports for investors, connect with homeowners (via the “Mailing Labels” feature) in those areas, and so much more – the new RPR features combine to create one hell of a shortcut for you. Check it out:

“With the Opportunity Zone initiative poised to transform American communities that have long been shunned by investors, NAR has developed resources to help facilitate and expedite investments in these areas. As our work continues, REALTORS® are committed to ensuring Americans can take full advantage of this valuable new initiative”, said Joseph Ventrone, NAR Vice President, Federal Policy and Industry Relations.

“These Opportunity Zones encourage private investment into low-income communities, with the intent of stimulating economic growth and job creation,” said Bob Turner, NAR’s 2019 Commercial Liaison and RPR Advisory Council Member. “Residential practitioners will notice homes that fall within Opportunity Zones gain a boost to their marketability because of increased attention, while Commercial practitioners will likely see properties once being skipped over turn into desirable investment opportunities.”

It’s not just a shortcut for practitioners, but meaningful help for underserved areas. Talk about a real win-win.

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Real Estate Big Data

Pending home sales dip in all regions but the Midwest

(REAL ESTATE) Pending home sales slipped nationally, but there are some healthy signs for the housing sector as we look forward.

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If you’re in the field and feeling a slight slowdown, you’re probably right. Pending home sales (contracts signed) dipped 1.5% nationally, down 2.0% year-over-year, according to the National Association of Realtors (NAR). This marks the 16th consecutive month of annual decreases.

Pending home sales dipped 1.8% in the Northeast, 2.5% in the South, 1.8% in the West, and rose 1.3% in the Midwest.

Compared to last year, pending homes are 2.1% below a year ago, down 1.8% in the South, 1.5% lower in the West, and 2.4% lower in the Midwest during the same time period.

This indicator is forward-looking and lets us know how closings will look in the coming months.

NAR Chief Economist, Dr. Lawrence Yun said the sales dip has not yet reflected the market shifts that work in favor of homeownerships.

“Though the latest monthly figure shows a mild decline in contract signings, mortgage applications and consumer confidence have been steadily rising,” he said. “It’s inevitable for sales to turn higher in a few months.”

Dr. Yun noted that home price appreciation has been strongest on homes priced under $250,000 as inventory levels have been perpetually tight for several years. Price conditions are soft on upper-end homes, “especially in high tax states like Connecticut, New York and Illinois,” he added.

There are now signs for a rise in inventory, Dr. Yun states, digging into data from realtor.com, noting the largest increase in active listings (in April) compared to April 2018.

“We are seeing migration to more affordable regions, particularly in the South, where there has been recent job growth and homes are more affordable,” Yun said.

NAR has repeatedly pointed to housing starts by new home builders as one of the key paths to loosening up the tight inventory levels that continue to edge out willing buyers. Starts remain low, but with a healthy market, the inventory appears to be correcting, albeit slowly.

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Real Estate Big Data

Are you selling real estate in a high-cancer-risk area?

(BIG DATA) If you own a brokerage knowing your local ecosystem can be beneficial. Whether it’s a humble brag on your blog, or a letter to a local rep, knowing your environment is always a good idea.

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As a realtor or brokerage owner, you know the importance of understanding your community’s ecosystem in order to shape your business strategy.

However, have you considered how environmental and quality may play a role in those decisions?

A recent study published in Cancer suggests that you should. According to the study, “of every 100,000 Americans, 451 of us will get cancer in a given year.” The study “found a difference of 39 cases (per 100,000) people, between areas with the highest and the lowest environmental quality.

This establishes a significant link between environmental qualities and cancer risks.

The study also showcases a map of the US and the air quality of various regions. Red and orange areas have the worst air quality, while blue and green areas have the best air quality. As you might expect, large metropolitan areas have the worst air quality, and things improve as you move into more rural areas. You do find the most exceptions throughout the southeastern region and a vertical stretch that runs from the tip of Texas to the Dakotas up north.

These kinds of signs can either be a major benefit or a major obstacle to attracting buyers to your real estate market.

According to the most recent Gallup polls, 47 percent of Americans worry a great deal about the quality of the environment. So, how do you adjust?

If you’re in a blue or green area, make sure to get the word out! People now consider environmental quality as part of the quality of life factor. Don’t let that benefit go unnoticed. Blog about it on your own website. Use your social media to share data like this from other sources, or other information praising the environmental quality and protections of your market.

Integrate it into your marketing materials where possible.

If you’re in a red or orange area, you’ve got a bit more work to do here, and it’s going to get a bit political. There is already plenty of concern about attempts at the federal level to handicap agencies dedicated to protecting the environment. Be wary of such measures at the state and city level, and be a voice for the real estate economy in shaping this policy.

Does going to places of legislative businesses give you the heebie-jeebies? Find local organizations dedicated to improving environmental quality. Sponsor a river or park clean up event. Show your support for events like Earth Day. Don’t have those kinds of events? Harness your entrepreneurial spirit and bring these events to your community. Taking action as a community leader will be massively beneficial for your brand.

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