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the mutiple listing service (MLS) using in the real estate

is title ok????

Without the use of sharing based information systems, the industry of real estate would not be where it is today. The chosen areas of focus within the industry being Multiple Listing Service (MLS,)

Kijiji

, ReMax and Royal LePage.

Multiple Listing Service (MLS) also known as realtor.ca is a terrific resource for anyone looking to buy or sell a home. Listing your home with a realtor who uses MLS means maximum exposure to a potential buyer. The easy to navigate through website offers just about everything you would want to know about a property you may be interested in purchasing. Information includes but is not limited to a general description, photos, number of bedrooms and bathrooms, square footage of those rooms and of course price. The system also assists realtors in determining listing prices of properties as well as an offering price for buyers. To help determine these prices, available for realtors on MLS are records of property sales, neighbourhood trends and market conditions. Within the real estate industry MLS is the greatest information system available to a realtor.

MLS started out in the exchange of paper listings and photographs and has developed to be a realtor’s greatest resource. Now computer based the trademark of MLS is owned by the Canadian Real Estate Association who licences its use to boards and associations across the country. In Prince George, the BC Northern Real Estate Board located on Queensway administers and operates the local MLS system. Unlike a lot of industries the real estate industry must have a very co-operative environment to achieve their end goal of selling a clients property or finding the perfect property for a client. On each MLS listing the information and contact information on the realtor who is selling the property is available. A person could contact them directly to get information on a piece of property but in most cases they have their own realtor that does that for them. The realtors then have to work together to achieve their goals of either selling or purchasing for their client.

On a daily basis MLS is getting updated with new properties for sale. Information on each property is entered into a database and shared with all realtors through the MLS system. Though MLS is a great information system on its own, some firms do take information MLS provides and use it in their own information systems to create reports MLS may not yet provide or distribute new listings to their firms realtors in their own way. There are not a lot of cons when it comes to MLS. A lot of industries could only wish to have an information system so helpful in allowing them to connect with new clients easily and work with competing competitors in such a co-operative win, win situation.

Kijiji

“Kijiji is a centralized network of online urban communities for posting local online classified advertisements. Kijiji is a subsidiary company that owned by eBay in March 2005” (

en.wikipedia.org/wiki/Kijiji

). Today, Kijiji became more and more popluar and the websites of Kijiji are currently available for more than three hundreds cities in Germany. Moreover, Kijiji is available in other countries in Europe, Asia, and North America. Kijiji is an exchange centre where people could able do business from houses to even a used handbag.

I am going to focus on the real estate area of Kijiji Canada. The real estate of Kijiji is free information provider and it has six main segments: apartment, condos, and even room for rent; house, condos and apartment for sale; and vacation rentals. The services that Kijiji offered are kind of similar to Craigslist. As the competitor, Kijiji emphasized “classified” and would like to have a “large corporation” culture. Moreover, Kijiji has adopted an easy-to-use format and an amazing variety of stuff. Kijiji set its goal as improve the program in order to serve its business. However, the communication, quality, and predictability are the most important parts of the improvement. Therefore, what projects Kijiji has been working on? According to Vikas, the director of Kijiji Canada: “An exciting initiative that I drove is the migration and setup of all our technology system; from eBay data centres to new global classifieds date centres. This was a nine month long project with significant complexity and involves several different technology organizations dispersed globally. The challenge is to minimize costs and business disruptions, while making key technology, infrastructure, and setuo improvements.” (

ebayclassifiedsgroup.com/kijiji

). On the other hand, MLS (multiple listing services) is an essential system that Kijiji has worked on. The different between Kijiji with the other real estate company is that the way of collecting information. In order to make customers deal with their businesses by just finger clicking, Kijiji collected a lot of resource for exchange on the web page and update it regularly and frequently. However, Kijiji does not provide any agent. In contrast, all customers can also be a realtor by just post a free advertisement. Of course he/she needs to register on My Kijiji and sign in. This idea above provides an advantage due to there is scale of resource of MLS system. Besides the free advertisement, Kijiji provided a lot of features on its website. For example, the person would have the information about the area where he/she login in in advance. Also, he/she can type any keywords on the category of the web page. The source that been researched are mostly have picture and price at the cover page of the advertisement. Alternatively, when customers post an advertisement, there are a lot of options to make the business more attractive. For instance, when one post an apartment for rent, it will allow you make your product more interesting to the customers with eye-catching keywords. Therefore, Kijiji made its customers much more efficient by applying MLS systems.

REMAX international is an American international real estate company that relies on franchise system, it was founded in 1937 and it owns by David and Gail Liniger in Denver, Colorado, and is still owned by its founders. REMAX is the top real estate agent in the world, and there are more than 90,000 real estate agents over 75 nations covers around the world. Today REMAX global organization supports over 87,000 sales associates worldwide. There are lots independent contractors as an agent under the corporate headquarters in many countries. REMAX international collect the annual due from those agents and provide an employee training or advertising as a return. Depend on different situation in different area; those agents have highly autonomy to decide how to operate their company. RE/MAX also doing real estate auctions and provides advisory and relocation.

There is more than 90% of real estate using MLS system doing business; the large of demand require MLS system update the house data regularly and timely, REMAX company website update is very fast. They have professional supervisor to monitor the house data integrality. If house through agent complete the transaction, the local agent will notice whole market immediately. Otherwise, each agent can share the house information through MLS system with other agent. In MLS system, If seller have house to sell, they can though realtor to put their house information include numbers of room, photo of room, the house location, square footage of around the room, even transportation around the house into MLS information system. Though the collection and analysis the house information, MLS system list the seller house on multiple listing service. On the other hand, the buyer also through the realtor to find the suited house, the multiple listing services can match the specific criteria. For example, some family has many pets, and they need big backyard or pets and some family owns many cars, they need a huge garage. Those problems can be solved by MLS platform. In REMAX official website, there is a search box in the middle of the page, people can searching house though ZIP code, Radius search or street or subdivision, within those parameter, we can require more specifically: the prince range from low to high, the numbers of room. In a competitive market, getting your property listed on a multiple listing service can help expose it to thousands of potential buyers.

MLS system connect between buyer and seller, they gain access and register a user name in transactional website and put their own information in it. When there has appropriate house information in MLS database, the system will automatically send email to people who want to buy the house.In traditional transactional model, one house only can sold by one agent, but during MLS system, in nearby area, all of the agent can sell the same house, this action expanding the range of the buyer and it also improve the selling rate in second-hand house.

we need conclusion~~~~

Conclusion…Spencer I liked your idea about these information systems giving management the confidence to make well educated decisions (or it was something like that??)

Bibliography

BC Northern Real Estate Board. Retrieved March 19, 2013, from

http://boards.mls.ca/bcnreb/

About the MLS® System. Retrieved March 15, 2013, from

http://www.reginarealtors.com/index.php?option=com_content&view=article&id=8&Itemid=13

What is MLS and Realtor.ca? Retrieved March 19, 2013, from

http://mlxtips.com/what-is-mls-and-realtor-ca/

Sellers Information. Retrieved March 19, 2013, from

http://www.realtor.ca/StaticPage.aspx?f=Selling

REMAX part

Retrieved March 20 from

http://home.howstuffworks.com/real-estate/multiple-listing-services.htm

http://homebuying.about.com/od/marketfactstrends/qt/0407MLS.htm

Kijiji
en.wikipedia.org/wiki/Kijiji
ebayclassifiedsgroup.com/kijiji

Division of Work

In general the division of work was split equally. Nicole was responsible for the area of MLS, Yicong researched kijiji, YuHan researched Remax and Spencer took care of Royal LePage. We had two group meetings which we all showed up to however the majority of our work and sharing was done via google docs. Joining our report to sound as one rather than four separate reports was done by Spencer. Unfortunately due to serious family issues, Marie Pinder our fifth group member was not able to contribute.

For our project we chose to research the management information systems used in the real estate industry. In every industry it is crucial to have an efficiently operating management information system to aid in the decision making process of management. Without these computerized systems the workload of staff would be drastically increased and management would not have readily access to all the data pertinent to making a decision. These information systems are also required to be a competitor in the market as each company tries to out do another with their user-friendly systems. Thomas Ricci, vice president of the implementation services division of Management Reports International, was quoted as saying “now companies are being forced to adopt new technology because of the growing recognition that their clients are more sophisticated and require greater efficiencies and more information.” (Godwill, A Real Estate Management Information System)

The four companies we chose to research were Multiple Listing Service (MLS), Kijiji real estate, Remax, and Royal LePage. Nicole chose MLS, Yicong chose Kijiji, Yuhan chose Remax and Spencer chose to research Royal LePage. Below is our attached report.

MLS

Multiple Listing Service (MLS) also known as realtor.ca is a terrific resource for anyone looking to buy or sell a home. Listing your home with a realtor who uses MLS means maximum exposure to a potential buyer. The easy to navigate through website offers just about everything you would want to know about a property you may be interested in purchasing. Information includes but is not limited to a general description, photos, number of bedrooms and bathrooms, square footage of those rooms and of course price. The system also assists realtors in determining listing prices of properties as well as an offering price for buyers. To help determine these prices, available for realtors on MLS are records of property sales, neighborhood trends and market conditions. Within the real estate industry MLS is the greatest information system available to a realtor.

MLS started out in the exchange of paper listings and photographs and has developed to be a realtor’s greatest resource. Now computer based the trademark of MLS is owned by the Canadian Real Estate Association who licenses its use to boards and associations across the country. In Prince George, the BC Northern Real Estate Board located on Queensway administers and operates the local MLS system. Unlike a lot of industries the real estate industry must have a very co-operative environment to achieve their end goal of selling a clients property or finding the perfect property for a client. On each MLS listing the information and contact information on the realtor who is selling the property is available. A person could contact them directly to get information on a piece of property but in most cases they have their own realtor that does that for them. The realtors then have to work together to achieve their goals of either selling or purchasing for their client.

Kijiji

“Kijiji is a centralized network of online urban communities for posting local online classified advertisements. Kijiji is a subsidiary company that owned by eBay in March 2005” (en.wikipedia.org/wiki/Kijiji). Today, Kijiji became more and more popular and the websites of Kijiji are currently available for more than three hundreds cities in Germany. Kijiji is available as well in other countries such as Europe, Asia, and North America. Kijiji is exchange center were people are able to do business buying and selling items from houses to used hand bags.

I am going to focus on the Canadian real estate section of Kijiji. The real estate section of Kijiji is a free information provider and has six main segments: apartment, condos, and even room for rent; house, condos and apartment for sale; and vacation rentals. The services that Kijiji offered are kind of similar to Craigslist. As the competitor, Kijiji emphasized “classified” and would like to have a “large corporation” culture. Moreover, Kijiji has adopted an easy-to-use format and an amazing variety of stuff. Kijiji set its goal to improve the program in order to serve its business functions better. However, the communication, quality, and predictability are the most important parts of the improvement.

You may be wondering what recent projects Kijiji has been working on. According to Vikas, the director of Kijiji Canada: “An exciting initiative that I have driven towards is the migration and setup of all our technology system; from eBay data centers to new global classifieds data centers. This was a nine month long project with significant complexity and involved several different technology organizations dispersed globally. The challenge is to minimize costs and business disruptions, while making key technology, infrastructure, and setup improvements.” (ebayclassifiedsgroup.com/kijiji).

On the other hand, MLS (multiple listing services) is an essential system that Kijiji has worked on. The difference between Kijiji and the other real estate company is that the way of collecting information. In order to make customers deal with their businesses by just finger clicking, Kijiji collected a lot of resource for exchange on the web page and update it regularly and quite frequently. However, Kijiji does not provide any agent. In contrast, all customers can also be their own realtor just by posting a free advertisement. Of course he/she needs to register on My Kijiji and sign in. This idea above provides an advantage due to the scale of resources an MLS system has.

Besides the free advertisement, Kijiji also provides a lot of free features on its website. For example, the person would have the information about the area in which he/she logs in from in advance. Also, he/she can type any keywords into the category search toolbar hosted on the web page. The requested search material almost always has pictures and the price as the cover page of the advertisement. Alternatively, when customers post an advertisement, there are a lot of options to make the business more attractive. For instance, when one post an apartment for rent, it will allow you to make your product more interesting to the customers with eye-catching keywords. Therefore, Kijiji made its customers much more efficient by applying MLS systems.

Remax

REMAX international is an American international real estate company that relies on franchise system. David and Gail Liniger of Denver, Colorado founded the company in 1937 and are still the original owners to this day. REMAX is the top real estate agent in the world and have more than 90,000 real estate agents in over 75 nations. Today, REMAX’s global organization supports over 87,000 sales associates worldwide. There are lots of independent contractors acting as agents under the REMAX corporate brand name. REMAX international collects the annual dues owed from those agents and in return provide an employee training and advertising program that prepare and help them become lucrative and profitable partners. Depending on the different situations in different areas; the agents have high job autonomy in the sense that they can decide how to operate their company. RE/MAX also does real estate auctions and provides advisory and relocation services.

More than 90% of real estate sector uses MLS systems for doing everyday business. This large demand requires MLS systems to update the real estate data regularly and in a timely fashion. Because of the services provided by MLS, the REMAX website is able to have its information update very fast. REMAX employs several professional supervisors that are given the task of monitoring the integrity of the real estate data that is being presented through their website.

Once a house is sold through an agent and the transaction is finalized, the selling agent will notify the whole market immediately by removing that property listing. If not sold, the agent can share the housing information through the MLS system with other agents associated with the company. In the MLS system, if a seller has a house to sell they can go through the process with a realtor. The realtor will list information relevant to the sale including number of rooms, photos of the rooms, the house location, square footage of the house and bed/bathrooms. Even information such as public transportation that runs near house will be inputted into the MLS information system. Through the collection and analysis of the houses information the MLS system will be able to list the seller’s house on multiple listing service platforms

On the other hand, the buyer will also be able to find a house suited for them through the realtor. Their needs will be tailored to thanks in part to the complex search system MLS offers. For example, some family has many pets and they need a big backyard for their pets just like some families own many cars and need a big garage and driveway. Those problems can be solved by the MLS platform.

On REMAX’s official website there is a search box in the middle of the page. People can find houses through searching ZIP codes, radius search, or street or subdivision. Within those parameters we can then require information more specifically; the prince range from low to high, the numbers of rooms in the house, or year it was built. In a competitive market like the real estate industry, getting your property listed on a multiple listing service is essential to profitability because it will further expose your property to thousands of other potential buyers.

MLS systems connect the buyer and seller together. They gain access and register a user name in the transactional website and enter their own information in to it. When the appropriate housing information has been entered in the MLS database, the system will automatically send an email to the people who want to buy the house. In the traditional transactional model, one house can be sold by only one agent but with the MLS system, all of the agents in the nearby area can sell the same house. This action works to expand the range of the consumers looking to buy and it also improves the selling rate in second-hand houses.

Royal LePage

Discovered in 1913, Royal LePage was built on professionalism, principled conduct, and the highest level of moral and ethical standards displayed by its founder Albert LePage. Since introduction they have consistently been a leader in the Canadian real estate sector, now boasting almost 14,000 agents country wide. Since the mid 1990’s Royal LePage has more than tripled the size of its sales force and almost doubled in market size (Royal LePage, 2012) . Much of this recent financial success has to be attributed to the emergence of new and efficient management information systems.

In order to remain a competitor in the real estate industry companies must embrace a variety of technology applications including management information systems and web based programs. The implementation of management information systems within the real estate sector is crucial due to the importance of being able to efficiently collect, store, maintain, and report information related to the listing and selling of property. To establish an integrated information system and a comprehensive real estate database, necessary interaction must be done with relevant organizations (Seyed & Shams, 2011). For Royal LePage these relevant organizations include MapQuest, Palm Canada, and Leading Real Estate Companies of the World®.

In June of 2000, Royal LePage launched an advanced family of internet applications and wireless technologies designed to enhance the home buying and selling experience. These new management information systems offer consumers unprecedented ease of use, efficiency, and convenience in buying or selling a home (Royal LePage, 2000). One specific form of information system Royal LePage uses is called a Geographic Information System. The sufficient gains in computer technology through out the 1990’s and 2000’s have significantly increased the effectiveness of GIS’s. Because GIS’s are a database management system, the processing speed and computing power are relevant to systems ability to handle and manipulate the inherent amount of data (Fryrear, Prill, & Worzala, 2001).

What the GIS essentially does is it “allows the user to display locationally defined data in easy to comprehend visual displays presented as colourful maps on the computer screen” (Fryrear, Prill, & Worzala, 2001). The true value of the GIS technology is in the data assembly and analysis that follows the visual display. For example, a client would be able to search for a property for sale that was in Prince George, in college heights, and within a kilometer of a shopping centre and a school. They could also search for a house with a tiled roof and four bedrooms. The ability for Royal LePage’s management information systems to tailor to clients specific needs runs congruent with their goal of providing unparalleled convenience and service to their consumers (Royal LePage, 2000).

The advancement of these management information systems and the databases that store large quantities of locational information used by real estate companies is raising concern with amongst the public. Surveys show that many Canadians believe that this technology will jeopardize their privacy and override other fundamental human rights (Wright, 1997). The ethical concerns associated with GIS’s in real estate stem from being able to construct a detailed picture about ones life just from viewing and analyzing the data related to specific location. The location can become a personal identifier and without knowledge or consent from the subject of the data it becomes viewed as unethical. However the most relevant ethical concern associated with GIS’s in the real estate sector is between the issue of privacy and the issue of access. “If the privacy of personal data is fully respected, then the access to potentially useful data is very limited. On the contrary, if access is to be encouraged, privacy will eventually not be fully respected” (Fanny, 2011).

Management information systems are undeniably an essential component of the real estate sector. Some of the advantages of using a computer database in management information systems are;

· When used as a data storage and retrieval device, the computer acts as a data librarian

· The computer provides procession capabilities for the production of information

· The computer serves as a communication device to obtain data or information from other computers

· The computer provides information by producing tables, reports, charts, graphs and formatted documents

· Statistical data can be easily analyzed using a computer (Godwill, A REAL ESTATE MANAGEMENT INFORMATION SYSTEM).

Management information systems in the real estate sector are not perfect and do suffer from some downfalls. One of these downfalls can be attributed to information silos. This occurs when one system is incapable of reciprocal operation with another related information system. This is a fairly common occurrence and in most situations can be worked around fairly easy. Another problem faced is finding an efficient way of entering paper documents into the computerized databases. This can be very time consuming especially with the abundance of information faced by large realtors such as Royal LePage. Although not as concerning, there is also the problem of update, insertion, and deletion anomalies. One final concern with the real estate systems is the reporting of inaccurate information. This can be a serious concern if management bases its decisions of the inaccurate information and can lead to serious financial loss.

Through our research and construction of our project we have developed a strong understanding of what types of management information systems are present in the real estate sector. These systems are a vital component of business and it is crucial to have the abundance of data presented to the realtor managed efficiently. Dr. Haque has mentioned in class about Amazon losing millions of dollars in the hours there website was down. I am sure that if MLS, REMAX, Kijiji, or Royal LePage were faced with the same situation the consequences would be similar. Management information systems are that critical to business.

There is no denying the long term economic benefits that management information systems present to the real estate sector. Every successful realtor has long moved on from the days of using outdated, redundant systems that house silos of difficult to access and often inaccurate information (Kepley, 2011) and now are equipped with computerized systems with massive database storage. The continuous commitment to developing and implementing consumer-driven internet applications as well as other tools that provide consumers speed and ease of access, will continue to stimulate competition amongst companies in the industry to develop the most efficient information system. With the emergence of newer, faster, and more complex technology seemingly every year we have only touched the tip of the iceberg with regards to the true capability that information systems posses.

Division of work

Everyone did their own research for the specific company they had chosen. The introduction and conclusion were prepared and written by Spencer. Yuhan and Yicong prepared the executive summary together. Nicole edited everyone’s work and corrected grammatical errors as well as organizing group meetings. For our PowerPoint, each person prepared 2-3 slides for their selected topic. The information chosen for the slides is also to be used as a presentation aide. Unfortunately Marie Pinder, our 5th member, was faced with personal problems and could not partake in researching Property Guys as stated in our submitted summary.

Bibliography

Spencers

Fanny, V. (2011). Beyod Professional Ethics: GIS, Codes of Ethics, and Emerging Challenges. Technolife, 3-10.

Fryrear, R., Prill, E., & Worzala, E. (2001). The Use of Geographical Information Systems by Corporate Real Estate Executives. Baruch Zicklin School of Business, 1-11.

Godwill, W. (n.d.). A Real Estate Management Information System.

Godwill, W. (n.d.). A REAL ESTATE MANAGEMENT INFORMATION SYSTEM.

Kepley, K. (2011). Trends in Real Estate Information Management. Virtual Premise, 6,7.

Royal LePage. (2000, June). Royal LePage introduces Canada’s most comprehensive e-real estate advantage for home buyers and sellers. Retrieved from royallepage.ca.

Royal LePage. (2012). Our Company. Retrieved from royallepage.ca.

Seyed, M., & Shams, N. (2011). The Methedology to increase the productivity of Management Information Systems. 1,4.

Wright, T. (1997). Geographic Information Systems . Information and Privacy Commissioner of Ontario , 23-38.

Kepley, K. (2011). Trends in Real Estate Information Management. Virtual Premise, 6,7.

Nicole’s

BC Northern Real Estate Board. Retrieved March 19, 2013, from
http://boards.mls.ca/bcnreb/

About the MLS® System. Retrieved March 15, 2013, from
http://www.reginarealtors.com/index.php?option=com_content&view=article&id=8&Itemid=13

What is MLS and Realtor.ca? Retrieved March 19, 2013, from
http://mlxtips.com/what-is-mls-and-realtor-ca/

Sellers Information.
http://www.realtor.ca/StaticPage.aspx?f=Selling

Yuhans

http://home.howstuffworks.com/real-estate/multiple-listing-services.htm

http://homebuying.about.com/od/marketfactstrends/qt/0407MLS.htm

Yicongs

en.wikipedia.org/wiki/Kijiji
ebayclassifiedsgroup.com/kijiji

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