Welcome! This is our second meeting this year. We are committed to meeting with you and keeping you informed of the latest news. More importantly, we seek to ensure we are All Together and working to meet your needs now and in the future.
President’s Remarks Seize the Day!
Did you know? SCAOR has received over $50,000 in grants from NAR during the last 5 years. SCAOR has awarded $ to first time homebuyers in Sussex County. SCAOR was the first to offer the GreenDesignation Course in the Region? SCAOR was the first to offer the Short SaleProgram in the Region?
Under our umbrella We have assisted and supported WCR( Women‟s Council of REALTORS®) the recipient of 5 outstanding awards this year! Community Service Foundation And, now..The Peninsula Commercial Alliance
A year ago: We were launching the new version of Innovia Incorporating Data checker into our MLS Introducing a Revenue Sharing Program Adding REALIST™ to our MLS Introducing Forms Simplicity
Staying on course Presidential Advisory Group on Communications We met and made a list of recommendations to the Board of Directors including: Quarterly meetings of the Brokers of Record Monthly Meetings of the Board of Directors Two General Membership Meetings per year ( with a nominal fee to cover the food expense) Email all members with specific information Continue at a glance, but change the format
PAG Recommendations Communicate, via blast e-mail, to all members regular and useful information Post agendas and minutes from Committee and Board meetings Focus on more task force and less committees
Kept on going…. This summer I reached out to you, the Broker of Record, and had small lunch or breakfast meetings near your office. I asked the same question to each group: “Tell me the 3 most important things the Association should provide to support your real estate practice”
The answer: 1) MLS and good data 2) Professional development/ education on key issues, changing issues, etc. 3) Networking and communications on key industry issues
The “ah” moment “we are in agreement on the important functions” The majority of you believe the Association is on track and doing a great job. You validated of our mission and our program of work And, you encouraged us to have an open dialogue
Let’s fall back to revisit our 2010 Brokers’ Meeting Automated Valuation and REALTOR® Value Map Revenue Share with Corelogic™ ( Partner InfoNet) Cooperative Agreements
Under Construction Forms and Transaction Management Forms Simplicity Revenue Sharing What’s this all about? Cooperative Agreements Trend, MRIS, Coastal, and others…..
MLS Value National demographic information National real estate sales information NAR has a program RPR that keeps any and all revenue generated Many MLS are investigating other options and SCAOR has been offered agreement with Core Logic( Marketlinx) for SCAOR Data called Revenue Sharing.
PRESENTLY We placed a hold on the RVM based on concerns from some appraisers and others about automated valuations. Have you visited Zillow or houselogic.com? Do you see the zestimates?
Review from 2010
What is RVM? REALTOR® Value Map RVM is a home value estimator based on information in our MLS. Visitors may access the RVM and automatically adjust the value of a property based on certain characteristics of a home; Type of home, number of bedrooms, number of bathrooms, and total rooms of the house or the square feet and age of the home. Visitor will indicate they have made a revision and RVM will recalculate based on comparable sales.
RVM When that visitor leaves the site, the adjustments from their information is not saved. “one time, real time”
TODAY After months of continued due diligence, the MLS Committee recommends moving forward with Corelogic Partner InfoNet program With enhancements for a data cooperative agreement and with use of the RVM.
TOMORROW The MLS can not rest. It continually has new rules, new products, new services, and new ideas to meet the ever changing technology around us. We need to move forward on key issues. NAR will discuss the Franchisor IDX issue in November. The recommendation from the NAR MLS is to rescind.
PROTECTING THE MLS
Protecting The Data “what are you doing to protect the data?” is a question for the SCAOR MLS and for each Participant to answer. The MLS uses a second level authentication to restrict unauthorized access The MLS uses IDX and RETS agreements to restrict unauthorized data transmission, including a license agreement
Protecting the data Know your web providers Know your vendors Remind your licensees Report suspected activity to SCAOR Today data is vulnerable to: Screen scrapers Sham operators Syndication and resyndication
SCAOR MLS VENDORS Corelogic Innovia Realist Real Estate Solutions( Forms Simplicity)
BROKER INDEPENDENCE Each Broker of Record (Participant) has the ability to opt of out of any of these programs. Last year, 1 one broker elected to opt out of the RVM program. InfoNet agreement is at the MLS/Association level Brokers normal course of business is unchanged Brokers use of their own listings is unimpeded
Partner InfoNet Helps identify and stop unpermitted uses of our data. “ Your listing data is valuable and in demand. That demand is driving individuals and businesses to use it without MLS permission or compensation. – You share in the revenue that is generated from products that use your data, provide tools that help your business and gain protection against unauthorized use”
REVENUE SHARE AKA: InfoNet Partner
What is InfoNet Corelogic licenses Resulting in products listing data directly for Risk Management from MLS‟s and detection purposes MLS Data is fused with Providing a complete public record data and source for meaningful valuations into a and actionable property centralized Corelogic information for Risk Database Managers Providing revenue and complementary solutions
How does the Partnership work? Corelogic will provide: Corelogic will License technology to: infrastructure Lenders Secure data aggregation Servicers Risk management Capital Markets solutions Support Sales and Marketing Accounting
Corelogic Will share Exclusive agreement: 30-40% of gross revenue Corelogic is the with exclusive partners only firm authorized to use 7-17% gross revenue SCAOR data for the with non-exclusive specific risk management partners purpose
Additional Benefits for Exclusive Partners Free- enhanced data security. Application of “beacons” within MLS content will empower Corelogic to trace and police use of exclusive partners‟ data. Free listing and market activity reports. Free AVMs enhanced by MLS data. Free MLS Data Co-op for members. You can use with just your MLS data or as a platform.
Potential Value of MLS Data Annual Risk Management Market $12,000,000 Total Active Listings: 1,000,000 Royalty%: 30% Royalty per listing: $3.60
Trina Joyner, 2011 President - elect “Without a plan, a goal is just a wish….”
Strategic Plan We completed our next 5 year plan in August with the assistance of volunteers, board members, and the guidance of NAR. We were lead by NAR planner, Alice Martin. We have a vision and specific goals to help our members. Our incoming Committee Chairs have met and received the Strategic Plan and are planning on programs and activities to achieve the goals. Communications will continue to be the focus for us as we move forward. We can‟t do all of this alone. We need you to continue to partner with us. Goal 1: Efficiently and effectively utilize technology to engage and educate members Goal 2: Have an environment that focuses on professional development and training. Goal 3: Have an organizational structure that provides the necessary support for carrying out its goals and objectives. Goal 4: Advocate public policies that advance the real estate industry, private property rights, sustainable real property ownership and housing opportunities Goal 5: Have active and engaged members who see value in their association services.
SCAOR Committees It takes a lot of volunteers to make the SCAOR wheels go „round…. Please see a staff member at the “Volunteer Station” to see how you can help us move forward!
News and Views at SCAOR SCAOR hosted the Pilot Program for NAR‟s Leadership 200-300 Series SCAOR hosted NAR Smart Growth Presenter in September SCAOR will offer NAR E-pro course this week SCAOR will offer Commercial Signature Series Speaker, Doug Devitre on Nov. 3
By Invitation Ruth Briggs King will present during the NAR Convention on “ My REALTOR® Party to highlight our recent accomplishments.
A moment’s insight is sometimes worth a life’s experience.” – Oliver Wendell Holmes
Upcoming EventsThursday, October 27: NAR e-pro certificationThursday, November 3: Commercial Signature series presenter at SCAORNov. 10-15 NAR ConventionWednesday, December 7: Affiliate NYC trip
December 9, 2011Installation of 2012 Leadership Team at the Heritage Shores in Bridgeville
Meeting adjourned until next regular meeting. Thank you for joining us!