add/edit

Residential and Condo Property Classes are Moving in Together

WHAT’S CHANGING?

On January 8th, 2019, the standalone condominium property class is being removed, and condos are joining single-family homes to form a single Residential property class that includes the following property subtypes:

SINGLE FAMILY

  • Site Built
  • Zero Lot Line
  • Modular
  • Manufactured-Foundation
  • Manufactured-Mobile
  • Horizontal Property Regime (HPR) – Attached
  • Horizontal Property Regime (HPR) – Detached

CONDOMINIUM

  • Cottage/Garden Condo
  • Flat Condo
  • Highrise Condo
  • Loft Condo
  • Other Condo
  • Townhouse Condo

WHAT’S DIFFERENT?

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  • This update will allow users to search for ALL single family and condo listings in a particular area regardless of how they are listed, resulting in a much more thorough and robust set of search results.
  • When searching for residential listings, you will see the new Type field under Common Criteria that allows the selection of any combination of single family or condo listing types.
  • All of the selections will be checked and searched for by default; however, you can easily select only the options you want and search in any combination of residential and condo – all without the need of a cross-class search!
  • You can save your favorite listing Type combination as your default search.  Instructions on how to create and save a new default search can be viewed at help.realtracs.net.
  • Add/Edit is updating too; Residential will be the choice for both single-family homes and condos.  The specific sub-type will be chosen when inputting the details of the listing.

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ANYTHING ELSE?

There are a few important notes to pass along:

  • Existing condo listings (with current MLS numbers) will convert to Residential automatically
  • Condo saved searches and auto-notify searches will be converted automatically
  • Definitions of the various property subtypes can be found at help.realtracs.net
  • The existing Exterior Alterations and Other Restrictions fields in Condo will not be moving to Residential

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The knowledgeable RealTracs support team is available six days a week to assist with any questions you might have regarding this upcoming change.

You can chat, click, or call a representative from 8:00 a.m. until 5:00 p.m. Monday-Friday, and Saturday from 10:00 a.m. until 4:00 p.m.

Going Once, Going Twice – The Auction Property Class is Going Away Soon!

Don’t worry.  The ability to list auctions in RealTracs is not going away.  However, how and where you list an auction in the MLS is changing to better match RESO’s data dictionary standards.

How is Auction Changing?
Previously all auctions were listed in their own property class regardless of what type of property was being auctioned.  The auction property class was a mixed bag of residential, land, commercial, and other type listings.  Now, when listing an auction, it will be added to the appropriate property class – residential, condominium, land/lot/farm, commercial, or multi-family.

How Will I List an Auction?
Auction is now a Special Listing Condition.  Recent changes were made in Add/Edit that require listing agents to select a special listing condition to describe the type of listing being entered.  Absolute Auction and Reserve Auction are being added as two of those options for offices who are approved to list Auctions.

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Are the Auction Types Changing?
No.  Listing agents approved to list auctions will still have the option to add a Reserve or Absolute auction to the MLS system.  As a reminder:

  • Reserve Auction:  An auction where the property for sale may not be sold if the final bid is not high enough to satisfy the seller – that is, the seller reserves the right to accept or reject the highest bid.
  • Absolute Auction: An auction in which the property for sale will be sold regardless of price

Please note: Reserve or Absolute Auction can be used in combination with one other Special Listing Condition, including foreclosure.  Reserve and Absolute Auction cannot be selected together.

How Will I Search for Auctions?
Auctions will be easy to search for, identify, or exclude, depending upon your needs.  First, auctions will now be included in the search results (except rental) and will be distinguishable by the presence of a gavel icon in the list views and agent/buyer reports.

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Want to search only for auctions?  You can do so by adding Special Listing Conditions to Additional Criteria and selecting Absolute Auction and/or Reserve Auction.

You can exclude auctions from your search in a similar way by selecting Standard (or any other) Special Listing Conditions and excluding the Auction selections.

Perhaps you want to save a search that looks for just Auctions?  You can select one or both Auction selections from Special Listing Conditions, choose your search criteria, and click Save.  Give your search a name, and it’s available any time you need it from your list of saved searches.

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Some Additional Notes

Information specific to the auction such as minimum bid, auction date & time, terms and buyer’s premium should be included in the Public Remarks field.

The existing and historical auction listing information will not be converted to an existing property class or special listing condition and will be found by using the auction search.

Existing auction listings will be accessible for a short period of time to ensure that you have time to close them all out.

If You Have Questions or Need Help

This is a significant change, and the RealTracs Support team is here to help you with any questions or concerns.  Support technicians are available via online chat, email or phone Monday – Friday from 8:00 a.m. until 5 p.m. and on Saturday from 10:00 a.m. until 4:00 p.m.

A Better Way to Describe Your Listings

Selecting a Listing Type has historically been how agents clarify what kind of listing is being entered into the MLS system.  Beginning next week, the Listing Type field in add/edit is going away and being replaced with two separate RESO-defined fields which will better describe the listing.

First, we’re adding a field for Listing Agreement – this refers to the type of agreement between the seller and the listing agent.  Options for Listing Agreement include:

  • Exclusive Agency
  • Exclusive Right To Lease
  • Exclusive Right To Sell

Second, we’re adding Special Listing Conditions – this field describes the type of sale at the time of listing (similar to what Listing Type was used for). Options for Special Listing Conditions include:

  • HUD Home
  • Other Foreclosure
  • Owner Agent
  • Short Sale
  • Standard (default)
  • VA Foreclosure

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There are three things to note.  First, RealTracs will map the Listing Type for existing listings into these two fields. Second, Saved Searches that include Listing Type will reference the appropriate Special Listing Condition value.  Lastly, both Listing Agreement and Special listing Conditions will be required for Residential, Condo, Commercial, Multi-Family, and Land/Lot/Farm property types.

Have questions about the new listing fields?  Be sure to chat, click, or call a support technician.


RealTracs Support Desk
M-F 8 a.m. – 5 p.m.
Saturday 10 a.m. – 4 p.m.
support@realtracs.com
615-385-0777

Parking & Driveway Fields in Add/Edit Updated to Further Align With RESO Platinum Data Standards

Over the past several weeks RealTracs’ users have undoubtedly noticed several changes to the parking fields in Listing Add/Edit.  This is related to our continued efforts of ensuring Add/Edit completely matches the RESO Data Dictionary (more information).

As part of the evolution toward a completely RESO compliant Add/Edit, changes have been made to the Driveway field in Add/Edit, listing searches, and reports.

The Driveway field and some of its descriptors are now selections in the Open Parking Features field in Add/Edit.  Open Parking — or uncovered parking — is a designation often associated with cities where identifying all options is important, e.g., alley parking, on-street parking, and a driveway. As part of this update, there are new options now available to choose from, denoted below by an asterisk (*).  When adding a listing, you can make up to three Open Parking selections.

Open Parking Features (3)

Aggregate Concrete Parking Pad*
Alley Access Driveway* Paved
Asphalt* Gravel Shared Driveway*
 Assigned On Street Unassigned
Circular Driveway* Parking Lot Unpaved

For current listings with the Driveway features found in the list below, the new Open Parking feature will replace each with a new description.  Please note, these changes will be automatic – there is no action you need to take for your listings. Additionally, you will be able to update Open Parking Features selections as needed.

Former Driveway Options With New Open Parking Descriptions

Former Driveway Options  New Open Parking Description
Blacktop Asphalt
Pea Gravel Gravel
Stone Paved
Penetrated Unpaved
None  – – –

GARAGE & PARKING ADD/EDIT FIELD CHANGES MADE FOR MULTI-FAMILY, LAND-LOT-FARM, AND RENTAL LISTINGS

As of August 29, RealTracs’ users will see RESO updates to the multi-family, land-lot-farm, and rental class garage/parking fields in Add/Edit.  This is a continuation of the parking updates that were started with Residential listings (see previous post).

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Going forward, there are two additional required fields when a multi-family, land-lot-farm, or rental class listing is input into the Add/Edit system: Garage Spaces and Garage Features.  If a value of at least “1” is entered into Garage Spaces, a description must be selected from the Garage Features drop-down list to the right.  There are also lists (options are shown below) to choose the features of your listing’s Carport or Open Parking Spaces.

New Garage Features New Carport Features New Open Parking Features
Alley Access Alley Access Alley Access
Assigned Assigned Assigned
Attached Attached On Street
Attached – FRONT Detached Parking Lot
Attached – REAR Private Unassigned
Attached – SIDE Unassigned
Attached/Detached
Basement
Boat
Detached
Private
Unassigned

Some important notes:

  • Individual Garage and Individual Carport are being replaced with Private in the Garage and Carport Feature lists.
  • Parking Space will be replaced with Parking Lot (you can also select Assigned in Open Parking Features for this situation)
  • Shared Garage and Shared Carport is being replaced with Unassigned

Garage & Parking Add/Edit Field Changes Made for Residential Listings

If you will recall from a post in April, RealTracs made some changes to the sewer descriptions in Add/Edit.  This was done in our effort to further align with the standards set forth by the Real Estate Data Standards Organization (RESO), who determine the “language” of MLS data, so technologists can more easily work with it. Why is that important?  Because it saves agents and brokers money!

Starting today, July 24th, RealTracs’ users will see RESO updates to the garage/parking fields in Add/Edit.

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Going forward, there are two additional required fields when a listing is input into the Add/Edit system: Garage Spaces and Garage Features.  If a value of at least “1” is entered into Garage Spaces, a description must be selected from the Garage Features drop-down list to the right.  There are also lists (options are shown below) to choose the features of your listing’s Carport or Open Parking Spaces.

Garage Features

Carport Features

Open Parking Features

Alley Access Alley Access Alley Access
Assigned Assigned On Street
Attached Attached Parking Lot
Attached – FRONT Detached
Attached – REAR Unassigned
Attached – SIDE
Attached/Detached
Basement
Boat
Detached
Unassigned

The update is ONLY to the Residential property class for now.  This is so we can gather feedback and make any needed adjustments before moving on to the other property classes. There are a few essential things to know about the latest changes:

  • Parking Total will be calculated, and be a searchable field that replaces Garage/Parking Capacity.
  • Driveway is still a separate field in Add/Edit.  It will be transitioned into a parking feature in a future update.
  • If a value of “1” or more is entered into Garage or Carport Spaces, a selection from the respective features list will be necessary as well.
  • The Add/Edit selections of your current Residential listings will be transferred to the new fields automatically.  If an existing listing is edited with a value in either Garage or Carport, a feature selection will need to be made prior to saving.

Do you have questions about the changes?  Be sure to chat, click, or call one of our Help Desk representatives who can assist with all of your concerns.

Not Making Changes Just for the Sake of Change

Have you ever observed RealTracs make a change to something small, and you were left scratching your head? Did you ask “why,” or “how does this affect me?” If so, you shutterstock_599090141were probably not alone, and it is certainly worth further explanation.

As you can imagine, there is an enormous amount of data, which brokers authorize RealTracs to send on their behalf, to hundreds of website providers, back-office tool providers, showing services, statistical companies, advertisers, and more. Not only do all these vendors receive data from RealTracs, but they also get listing information from other MLSs, literally from coast-to-coast.

That’s a lot of data.

Not only that, but it has to be understood by everyone to make it worth sending. This is where the Real Estate Standards Organization (RESO) Data Dictionary comes in. The RESO data dictionary is the “Rosetta Stone” for listing information. It ensures that technologists, MLSs, and vendors all speak the same language on how to describe your listing data. Why does this matter? Because it saves you time and money!

Historically, real estate technology vendors had to onboard different sets of data from multiple MLSs with different rules and different meanings and…well, you can see how time-consuming and expensive that would be when repeated for 700+ MLSs across the

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Doug Powers

country. With platinum data dictionary compliant MLSs – like RealTracs – the vendor knows that a listing in Tennessee will be described the same as it would be anywhere else. RealTracs’ Chief Technology Officer, Doug Powers, the force behind RealTracs’ RESO certification, said it best. “Every market is different, but we all have bedrooms and bathrooms. Where we can agree to a standard, we can simplify the organization, delivery, and presentation of data for the products and brokers that transcend markets.”

You will soon see the latest example of this type of data field update with how sewer is described in add/edit. There will be selections for a public or private sewer, septic tank, and Septic Tank Effluent Pumping (STEP) system.  As RealTracs moves toward 100% RESO compliant data fields, you will see more data field updates over time, and helpful information will be posted in the RealTracs Help Pages under Add/Edit: Data Dictionary. The page explaining available sewer fields can be viewed here.

If you have questions about these changes or anything else, do not hesitate to contact our technical support staff via an online chat, email, or by phone.