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February 1, 2013

What’s New at CommercialSource.com?

Changes and enhancements to CommercialSource.com caused a stir in commercial REALTOR® circles recently. The phone’s been ringing and we know members have questions. To be top dog at the water cooler, here are three things you need to know:

#1 Real Estate Website

That’s right, CommercialSource.com listings are displayed on the #1 real estate Web site in total visits, unique visitors, page views and time on site. Realtor.com® is now home to Commercial.Realtor.com and features over a quarter million commercial real estate listings. Yes, we know this has been a residential site in the past, and it still looks and feels residential, but the enhanced services you require are being developed. NAR realizes that one size does not fit all in real estate. The bonus is that while this portal is under construction, REALTORS® are experiencing the greatest amount of listings exposure on the internet.

There are three ways to get your listings on Commercial.Realtor.com.

  1. You can manually upload them yourself, for free, to CommercialSource.com.
  2. Your CMLS,MLS, or CIE can upload them to Realtor.com which currently has 102 MLSs providing commercial data directly to Commercial.Realtor.com. Contact NAR Commercial to find out if your Association has an agreement with Realtor.com.
  3. Or, if no agreement is in place, contact your MLS to be added to list of data providers awaiting technical implementation.
Commercial On-Demand

CommercialSource.com is home to all the news, broadcasts and events produced by NAR Commercial. News is up-to-the-minute with regional feeds from GlobeStreet. The site also features a Twitter feed. Don’t have time to follow tweets during the day – read them with the #CRE hashtag to learn what the industry has literally been talking about all day. You’ll also find webinars and audio podcasts that are accessible 24/7; so sit back, click and learn the latest from industry leaders.

Keeping you up-to-speed

CommercialSource.com created a forum for commercial issues and opportunities in real time with The Source blog. Here you’ll find the primary information for NAR Commercial, and discover improvements to all internet initiatives and research revealing the future of commercial real estate. Learn how REALTORS ® are surviving and thriving in today‘s market. Don’t just take our word for it, become a guest blogger and share your stories as others have done or simply weigh in with your comments.

For more information on all of these resources, visit the Web sites or call Cheré LaRose-Senne, NAR Commercial Services Managing Director at (312) 329-8455 or clarose@realtors.org.

ePD-the REALTOR® Solution for Data Management

A recurring question comes from Associations across the country: How can we better manage our data and support our commercial members’ property listings? It’s a challenge because commercial real estate is different than residential. Some practitioners put commercial listings in a residential MLS, but input categories are incomplete and these systems can’t generate reports that are critical for selling commercial real estate.

NAR acquired eProperty Data (ePD) to be the Commercial Information Exchange (CIE) developed to solve these data management issues – for REALTOR® associations and members. “We’re partnering with Associations to build these solutions and we’ve grown significantly because our value proposition resonates with our clients,” commented ePD CEO Connie Capone. “A local CIE provides the ability to increase sales at a fraction of the cost as compared with our competition,” Capone added. In fact, ePD’s custom designed systems meet the latest data-driven demands of the industry. “ePD powers two of the largest CIE/MLS’s in the country – Houston and Seattle – and we launched seven new CIE/MLS systems in 2010 alone,” reports Carl Peterson, ePD’s Director of Sales.

There are two CIE platforms – both built on a property-centric system with an underlying database structured on inventory of all the commercial properties in a region. It’s easy to input listings and create accurate, historical market data. ePD’s system technology includes state-of-the-art, map-based searching so members can create their own “polygon” searches for the market they wish to research. “Our systems are packed with tools that offer brokers information that can translate into consultative value for their clients. All the functionality of a residential MLS is available – automatic email notifications, saved searches, broadcast emails, printing or emailing reports and a commercial market analysis,” Peterson said.

The custom ePD solution provides a powerful networking CIE and a marketing venue with a public-facing external Web site. It offers a seamless distribution of listings to sites and partners that you identify, plus listings are syndicated through Commercial Source to commercial.realtor.com.

Encourage your association leaders to get more information and arrange a demo. Visit www.ePropertyData.com or contact Carl Peterson, Director of Sales at 253-851-0366 or carl@epropertydata.com.

Coming Soon

The Realtors Property Resource (RPR) is NAR’s exclusive online database that will provide REALTORS® with data on every parcel of property in the United States. It will give brokers and agents valuable tools to better inform them and increase their efficiency in the marketplace.

A primary benefit of RPR is allowing a REALTOR® to provide detailed demographic information, nationwide property searches and market-to-market comparisons to their clients. RPR is a free member benefit that is 100 percent owned, directed, and operated for the benefit of NAR and its members, and only REALTORS® can access the information.

A steering committee of NAR senior leaders and commercial practitioners will meet in February to map out how needs of commercial members will be factored into this tool. Work has already begun with the Charlotte Board of REALTORS® helping define search and data features of the RPR Commercial Application, and the board will be the first Beta site prior to launch. After this launch – later in the quarter – RPR will look for a couple more markets and local Association assistance to refine the Commercial Application. We’ll report on their progress, but know that a key goal is to reinforce existing values and simplify database resources for members.