What to Expect with Realcomp’s Launch of the New Listing Add-Edit Module on June 6, 2022
The Wait is Nearly Over. Realcomp’s new Listing Add-Edit Module, which has been in development for more than a year, is now ready and scheduled to officially launch for Realcomp Subscribers the morning of Monday, June 6, 2022.We sincerely appreciate your patience over the last several months as we’ve worked with our vendor, Remine, to bring this new module to you.
To prepare for this important software upgrade and the retirement of the old/current Listing Input module, here are a few very important things you need to be aware of:
The deactivation of the Listing Input module WILL NOT AFFECT any other modules of the RCO3® system (i.e., MLS searches, PRD searches, contacts, etc.). So, you will be able to continue accessing these functions as normal.
Before using the new Listing Add-Edit module, please be aware of the following items:
1. New Online Listing Profile Forms: You will also be able to enter new listings into the system through the new online listing profile forms. These forms will appear in the Remine Docs+ module at launch time and allow you to create a listing from them. The forms allow you to upload the bulk of the listing data to the new Listing Add-Edit module, where you will need to finish the listing and save it to submit it to Realcomp. Here are sneak-peek copies of the various profile forms. (These are for review purposes only - not for data entry):
o Residential Sale Listing Form
o Residential Lease Listing Form
o Residential Income Listing Form (Multi-Family)
o Land Listing Form
o Land Lease Listing Form
o Commercial Sale Listing Form
o Commercial Lease Listing Form
o Business Opportunity Listing Form
2. New Fields and Lookup Values for Enhancing Your Listings: You will also be able to update your current listings through the Listing Add-Edit module. When you do this, you will have access to a host of new fields and look-up values that allow you to further describe your listings. Please be aware, when making changes to your listings, Realcomp’s new field requirements may force you to update or provide new information on your listings. Providing this information will be necessary to save your listing changes.
3. New Sub-Type for Vacant Land Listings: Regarding Vacant Land listings, you will now need to enter a Sub-Type on these listings. Sub-Type choices are: 1) Improved (i.e., includes a building or utilities or another kind of improvement), 2) Unimproved (i.e., no improvements at all), or 3) Dockominium (i.e., a water-based version of a condominium).
4. New Compensation Format: Regarding compensation fields, you must enter at least one commission type (i.e., Sub Agency, Buyer Agency, or Transaction Coordinator) and the coinciding commission amount into the MLS. The commission can either be entered as a dollar ($) amount, a percentage (%) amount, or a more complex theme involving one or both formats in combination with the “other” description. Now is a good time to screen your listings to ensure they comply. If not, please update them to follow the above guidelines. Additionally, for lease listings, due to newer NAR requirements, the commission can NO LONGER be expressed as a fraction of the first month’s rent (i.e., “½ of the first month’s rent” is no longer allowed). The commission must be expressed as a specific number or percentage (i.e., 50% of the 1st month’s rent).
5. Realcomp MLS Number Format Change: After the launch of Add-Edit, Realcomp’s MLS number format will expand by one digit and continue to begin with “22".
6. If you have not yet attended a training session on the new Listing Add-Edit module, please be sure to do so. Please register through Realcomp’s Class Scheduler module. This class will be very helpful in preparing you to load new listings and edit existing ones through the new program. Watching a training video would be your next best option. Go HERE to view.
For additional tips, be sure to review our updated February article on What to Expect with Realcomp’s New Listing Add-Edit Module. It’s chock-full of important information on how the new program functions and how it can help you load listings more efficiently.
If you have any questions about this information, please be sure to reach out to our Customer Care Department at (866) 553-3430. We look forward to confirming the launch on June 6th just as soon as it is in place. Thank you!