October 2019

Here is the latest issue of the NJMLS newsletter. It has also been emailed to you in a more mobile-friendly version. Enjoy!

Table of Contents

Remine PRO
Maintaining Integrity of Data
Spotlight on Training Folders
Upcoming Classes

 

Remine PRO is Here!


The NJMLS is pleased to announce that we recently integrated Remine PRO into XL Paragon, offering this value-added product to our members at no cost.  This enhanced level of service normally costs Realtors $199 per month versus the Starter plan offered by other MLS organizations.
 
Remine PRO combines MLS data, public records, and predictive analytic models onto a simple map-based platform that delivers more actionable information to real estate agents to help find new business opportunities using this information:
 
Sell Score identifies which off-market residential properties are likely to go on the market sooner than others in their area, measured on a high, medium, and low scale.  This filter can be used along with others, such as Home Equity, Ownership Time, and Property Value for more accuracy. 
 
Buy Score identifies the likelihood that individuals will purchase property within the next six to 12 months.
 
Home Equity identifies the potential equity an owner has in the property (i.e the current market value less any liens attached to the property).  
 
Ownership Time identifies the length of time the current owner has owned a property, which provides assistance in identifying someone who is ready to make a move (on average, it is estimated people move every 7-12 years).
 
Property Value identifies properties within a specific price range in a certain area. 
 
Absentee Owner may identify owners who are currently renting their property and may want to sell.

Mortgage Age identifies the age of the active mortgage(s) associated with the property.
 
For more information about how to use this new product, sign up for an Introduction to Remine webinar:


 
Monday, November 4th from 11:00am - 12:00pm
OR
November 14th from 2:00pm - 3:00pm.           

 
                       
You may register by using the link on the XL Paragon Desktop found in the Carousel Messages or call us at 201-387-1150 for assistance.  


 

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Maintaining the Integrity of the NJMLS Data and Avoiding Fines


If you are searching for the latest listings to share with buyers, relying on statistics to keep up to date on market trends and conditions, or compiling comparables to send to customers to assist them in buying or selling a home, you depend on the data you retrieve from XL Paragon.  This data comes from the information members provide when entering and managing their listings, so it is very important that this is timely and complies with the guidelines the NJMLS provides in our Rules and Regulations regarding putting listings into the system and status changes. 

As a reminder, most of these follow the "24 Hour Rule."  Although we don't formally call it that, it's an easy way to remember how long you have to complete certain tasks.  Basically, you have 24 hours from the time you have fully executed paperwork (all owners and your broker must sign) to:
  • Enter a listing into XL Paragon
  • Withdraw a listing from the system*
  • Extend a listing (up to midnight on the date of expiration)
  • Make a price change
The following two changes do not require NJMLS paperwork but they do need to be made in the system within 24 hours:
  • Change the status of a listing from Active to Attorney Review in Progress (ARIP)
  • Change the status of a listing from ARIP to Under Contract (UC)
The one change that does not follow this rule is marking a listing from Under Contract to Sold.  We allow seven calendar days from the time of closing to make this change in the system.

*As a reminder, the NJMLS provides three ways for agents to withdraw a listing in our system; please ensure that the seller is signing paperwork for the appropriate type.  They are:

WT - Temporary:
Used to remove a listing from active showing for a brief period due to illness, vacation, repair work, etc.  When the property can be shown again the status should be changed to BOM (Back on Market).
 
WC - Conditional:
Used to withdraw a listing BUT with a signed release agreement outlining the conditions. No other office can list the property until the listing expires, at which time the conditions are null and void.
 
WU - Unconditional:
Used to withdraw a listing unconditionally. The listing agreement is completely terminated without conditions.

 
Be aware there are alerts built into XL Paragon that can help you avoid being fined.  Under the "My Updates" column there is a section labeled "Listing Alerts" which will illuminate when you have listings that are approaching expiration date, when a listing has been in Attorney Review for more than three days, when an Under Contract listing is past the Estimated Closing Date, and when there is a listing in progress that is approaching the end of the 60 day period that it is saved in the Temporary Folder.  When these light up in orange, you'll know that it is necessary for a change to be made in the system.
 
We also provide a feature on the Office Hotsheet which will alert you to a potential fine that might be imposed on listings that are put into the system late or listings that are marked late in Attorney Review, Under Contract, or Sold.  The status change date and the reported date will display with an "!" sign, notifying you of the late status.  When you click on it, you will see a reminder that this change was made late displaying with a link to send a dispute form to our billing department to pre-emptively dispute the fine. 

 

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XL Paragon:  Spotlight on Training Folders


We provide a valuable training resource for our members that can be accessed anytime.  Whether used as a companion to training that you take with an instructor, or to learn something about the system on your own, there is a wealth of information available to you.  

These folders include instruction ranging from topics covered in Orientation to very specific instruction on features such as Realist and Homesnap PRO.

Recently, we have started to build a Training Video library, where you will find videos to step you through system features including Prospecting, Cloud CMA, Creating Labels, Watch List, Hotsheets and more.  These videos make it easy for you to become more acquainted with how to use this functionality at your own pace.

To find these folders, login to XL Paragon, go to Toolkit, and then choose Forms, Docs, & Gen Info>Training Videos.  These will all be labeled beginning with the keyword, "training."  
 

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Upcoming Classes and Webinars

Please register using the links provided on the XL Paragon Desktop.
 

November 2019
 
In the Classroom:

Wednesday, November 6th, Lyndhurst Office
10:00am - 2:00pm  Orientation
 
Thursday, November 7th, Haworth Office
10:00am - 2:00pm  Orientation

Monday, November 11th, Haworth Office
10:00am - 2:00pm  Orientation

Tuesday, November 12th, Lyndhurst Office
10:00am - 2:00pm   Orientation
 
Wednesday, November 13th, Lyndhurst Office
10:00am - 2:00pm  Orientation
 
 Wednesday, November 20th, Lyndhurst Office
10:00am - 2:00pm  Orientation

Thursday, November 21st, Haworth Office
10:00am - 2:00pm  Orientation

Friday, November 22nd, Haworth Office
10:00am - 12:00pm  Prospect Module Workshop
1:30pm - 3:30pm  CMA Workshop

Monday, November 25th, Lyndhurst Office
10:00am - 2:00pm  Orientation

Tuesday, November 26th, Haworth Office
10:00am - 2:00pm  Orientation



On the Web:

Friday, November 1st
10:00am - 11:00am  Prospect Webinar
1:00pm - 2:00pm  ShowingTime Webinar

Monday, November 4th
11:00am - 12:00pm  Intro to Remine Webinar

Tuesday, November 5th
10:00am - 11:00am  zipForm Basics Webinar 
1:00pm - 2:00pm  Cloud CMA Webinar

Monday, November 11th
10:00am - 11:00am  Mobile View Webinar
1:00pm - 2:00pm  Homesnap PRO Webinar

Thursday, November 14th
2:00pm - 3:00pm  Intro to Remine

Monday, November 18th
10:00am - 11:30am  Orientation Webinar
1:00pm - 1:45pm  Creating Labels Webinar


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To foster cooperation between REALTOR® members while providing
the highest quality data, tools, technology, and service.

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New Jersey Multiple Listing Service, Inc.
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PO Box U
Haworth, NJ 07641

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