Central Virginia Regional Multiple Listing Service Provides "Killer App" to Real Estate Brokerages with Real Time Business Analytics

    RICHMOND, VA, January 08, 2015 /24-7PressRelease/ -- Long considered one of the most progressive Multiple Listing Services in the US, Central Virginia Regional Multiple Listing Service (CVR MLS) was faced with a business challenge. In addition to 4,500 agent subscribers, the firm also serves over 750 real estate brokerages ranging in size from one-person offices to one of the largest independent brokers in the country.

Essentially, these brokers are not necessarily in the real estate business; they're in the real estate agent management business. And inside the CVR MLS database, a veritable goldmine of data and insights were there for the taking to help. The challenge was the time commitment, manual effort required to extract data and the high cost of existing products was keeping brokers from obtaining this information--so vital to their business.

As a direct result, CVR MLS has engaged one of the leading industry analytics firms, RealEstate Business Intelligence (RBI), to provide their MarketView360 service (known as MV360) to all of their brokers commencing in the first quarter of 2015.

Laura Lafayette, CEO of CVR MLS said: "Office managers, brokers and executives told us they needed affordable, quick and easy access to reliable, recent and MLS-curated business intelligence to help recruit, budget and keep an eye on their competition. MV360 gives our brokers agent and office-level stats in one simple search with little or no training. This saves time from doing multiple searches in the MLS and the dreaded manipulation in Excel or other offline products and gets our brokers data they really need ... and fast!"

MV360 features include: Agent Summary Report - Details agent production and ranking quartiles for defined market areas. With the simple user interface, instant searches by office code/name, agent name, or the number of transactions/sales volume are now possible. Many brokerage firms use this report to instantly identify top performing (or up-and-coming) agents in their preferred market areas for recruitment or be sure that they're aware of the potential top producers in their own company. The Agent Detail Display provides a more detailed view of an agent's production. This includes OLP to SP ratios for both listing sides and sale (buyer) sides and, a new metric, Days to Settlement from contract to settlement (DTS). Also includes the number of sales that are "fall-outs" and did not close, very important information when assessing sales people.

Office Summary Report - Provides an "office" view of important performance indicators to track/report market share in preferred market areas. The Office Detail Display shows office production details to help benchmark against the competition, create market-derived budgets and, of primary importance, leverage the firm's market share in specific market areas or "farms". Brokers of all sizes can use this to win more listings and enhance their local reputation and consumer awareness.

John Heithaus, RBI's Chief Evangelist, said: "The data and the critical insights derived from MV360 make it the 'killer app' for real estate office managers, brokers and executives who seek to keep one step ahead of the competition and run an efficient and productive brokerage organization. We're looking forward to working with Laura and her team to get MV360 into the daily routine of all of their brokerages to help them survive and thrive in 2015."

About CVRMLS
The mission of the Central Virginia Regional Multiple Listing Service (CVR MLS) is to provide our members with the resources and services they need to conduct ethical, professional, and profitable businesses. Contact Kate Loveluck, Marketing & Public Relations Manager at [email protected]

About MV360
MV360 is developed and managed by RealEstate Business Intelligence (RBI) one of the leading business analytic firms in the residential real estate industry. The service is designed by brokers for brokers in order to help them run a more efficient, productive and data-driven business using simple and direct web-based tools. Contact John Heithaus at [email protected] or go to www.getsmartcharts.com/broker

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