Real Estate and Technology news for agents,brokers

BrokerIPTV: Today we are talking to Sandi Zimmerman, Chairman of the Board for Metrolist. Sandi, thanks for being with us, glad you are here.

Sandi Zimmerman: Thanks Dan. Good to see again.

BrokerIPTV: We all know about or at least if you are real estate agent, you are in the business, what Metrolist can provide agents, but what if you are an online buyer and you want access to Metrolist, what could they do?

Sandi Zimmerman: We own our own website called REColorado.com. That would be one of the ways that people could be on and search very specifically here in Colorado area. We also everyday turn in our realtor listings to realtor.com, since that the number one website through the net... through out the United States, that's another great website, that they chose to use to. We have 3800 people just right here with Metrolist that have their own IDX websites. So, they have created themselves, so they also... that's another great way to get that to their buyers or their sellers and get information out to them that they maybe wanting to get to them.

BrokerIPTV: When I was building my website, I wanted to have listings on my website, so I got a third party provider to give me IDX listings, but for people who don't know IDX is, can you explain?

Sandi Zimmerman: Well, IDX stands for Internet Data Exchange. Basically what that does is that, it does give you exactly what you said. The opportunity for you to display other broker's listings on your website and the advantage to you is about your sellers. So, in all place they love that. To your buyers, they can search there and be able to go on and see that, but one of the things with IDX is, it is not 100% of listings. We do have some people that have the right if they want to "opt out" whatever. So, that's one of the things with IDX that we are trying to get across to people is that, when you are searching in an IDX site, that is not searching the MLS.

BrokerIPTV: I have the option of doing actives, solds and under contracts, but I am not doing the last two. I am only doing actives. So, everybody's IDX can be a little bit different.

Sandi Zimmerman: You can create your package however you want it and there are people who want to do just active like you are, but we are the only MLS right now that does have under contracts and solds and there are lot of people that love that. there is a lot of the public that actually likes that they are getting that accurate information, but still some of the other areas that indicates, you have seen don't necessarily always have the correct accurate information. We do have it on there and that could be an advantage, but the great thing about your website is you can create how you want it to be.

BrokerIPTV: But there are some new rules in place regarding IDX and which you can and cannot do, is that right?

Sandi Zimmerman: That is correct. In our new rules you may not say "Search the MLS". You may say "Search IDX MLS," but we don't want them, [Inaudible] construe to the public that they think they are searching the Multiple Listing Service when they are not searching 100% of the MLS and that's the reason that the rules gone into place.

BrokerIPTV: Since I get my services from a third party provider, are they already in compliance with this a head of time?

Sandi Zimmerman: They have already all been told that exactly what's going to be happening, when it needs to be done by? We have sent out letter to all of them and letting them know what the changes are and when that has to be done? We are also doing followup calls to each of them too, so that they are aware of it. As long as our own participants, because you know depending not everybody has a third party, some of them done their own or whatever, so every single person will be aware of that, so that they do make the changes in the proper time.

BrokerIPTV: Why were these requirements put in place what happen?

Sandi Zimmerman: Well, part of it came from National Association of REALTORS®. NAR has... its one that came down with this first, so we jumped on the bandwagon right away, so that we could get this taken care of. Truly we more than anything you do now, want to best construe to the public that they are doing something other than what they are. When you say search the MLS they think they are searching every listing and they are not. So, that's one of the main reasons that we are putting that into place.

BrokerIPTV: Sounds good. Thank you very much. Good information.

Sandi Zimmerman: Thank you too.

BrokerIPTV: Appreciate it and Thank you for stopping by.

Sandi Zimmerman: Thanks.