REINCheck

[MUSIC]

VO [00:00:06] You're listening to REINCheck with Andrea Rice, Contracts and Industry Specialist at REIN, where you get the latest member news and information delivered straight from the source, REIN MLS.

[MUSIC]

Andrea Rice [00:00:20] Hello and welcome to REINCheck. I'm your host, Andrea Rice, and today we are checking in with Josh Garbin, REIN's Data Administrator, to talk about Domus Analytics. Josh, thank you so much for taking time out of your busy schedule to be here today.

Josh Garbin [00:00:34] Thank you. Happy to be here.

Andrea Rice [00:00:37] Yeah. So, let's talk a bit about Domus Analytics. REIN launched Domus Analytics almost two years ago now as a new member benefit. And for those of you listening, hopefully you've had a chance to check it out or have at least heard about it. Josh, for our members that may not have had the opportunity to experience what Domus has to offer, what can you tell them about this powerful set of tools that they now have access to?

Josh Garbin [00:01:00] Yes. So Domus Analytics offers easy to read interactive statistics that tell the story of the Hampton Roads real estate market in real time. Using five different dashboards, you, the member can view data briefly or you can drill down deeper to gather your own insights into the market. This tool helps show the trends and current market conditions. It's available right now on REINMLS.com on the right-hand side once you log in.

Andrea Rice [00:01:24] All right, thanks. And in this market particularly, with things changing so rapidly, having real-time data is so important for our members when they are working with their clients.

Josh Garbin [00:01:34] Absolutely. As I said a moment ago, Domus shows us what's going on in the market visually. Each of the five dashboards could be printed and added to listing appointments or other presentations. They can really set you apart. Domus gives you the power to help your clients see potential list prices by comparing real-time data. You can even compare median sales price in different cities. You can break down settled sales data for your clients by showing sale prices from various price ranges. You can give meaningful breakdowns of days on market, sales, median list price, and sale prices in a way that's really easy for your clients to see and understand and be able to digest. All these things can really help set expectations for your clients and set you apart.

Andrea Rice [00:02:18] Yes. And for those of you that haven't seen it, there's some really great visual presentations of the data. And you mentioned the five dashboards. What's available in each of those?

Josh Garbin [00:02:29] So yes, the five dashboards, they are the Market Review Dashboard, which gives an overview glance at the market within five regions. Weekly Trends which show weekly trends, and that's from multiple categories including price, settled sales, median days on the market and other good little bits of information. You have the Market Insights Dashboard, which takes the information from the weekly trends and actually expands it over a longer period to really see the trends and see what's going on. You have the Pricing Insights dashboard, which allows you to plug in the information about your listing or upcoming listing to see where it is price wise in terms of listings on the market. I think this is an underused dashboard that can really help you and your clients understand some of the why when it comes to choosing a price and why it's being chosen at the price it is. And the final one is the Market Snapshot, which offers a simplified high level view of some of those stats we touched on a moment ago.

Andrea Rice [00:03:26] Josh, that is a lot of great information. And for those of you listening, really get in there and check it out if you have not done so because it's really fascinating to go into these different dashboards, and you can really manipulate the data. And like I said, you know, we're doing an audio recording podcast, but visually it gives really great print outs. Is there anything else you would like to add before we sign off, Josh?

Josh Garbin [00:03:52] Absolutely. Most of the dashboards, when you're talking about the longer trend ones, actually allow you to zoom in. So, you go in, you can click and drag of your mouse. You can actually zoom in a little bit more. So, there's so many options to really see the trends in the market in a visual way. REIN does offer training opportunities for Domus, so please check out our training calendar on REINMLS.com.

Andrea Rice [00:04:14] Thank you, Josh. And also, if you've not done so already, like you said, please check out Domus Analytics in the Products section of REINMLS.com. I want to thank all of you for listening. I hope you enjoyed this episode of REINCheck. If you missed any of the previous episodes, I do invite you to go to REINMLS.com to take a listen. Thank you and have a great rest of your day.

[MUSIC]

VO [00:04:36] You've been listening to REINCheck with Andrea Rice. Stay in the know from those who know. Delivered straight from the source, REIN MLS.

[MUSIC]