We talk a lot in my office about the importance of having systems in place, so that the routine operations of business — like producing the Market Snapshot — can just hum along. When it works, it’s great. Sometimes, though, something comes along that throws a giant wrench into the system, and it all falls apart until a solution is found.
We — all the agents in the Denver area — had a gigantic wrench thrown into our systems last summer when we completely replaced our Multiple Listing Service (MLS). The old system might not have been perfect, but we (most of us, at least) knew how to use it. The new system is completely different, and it has taken us a while to figure out where all our data is stored.
One of the things the old system was really good at, was providing market activity statistics, or what I call the Market Snapshot. It used to be that I could pull down a report for the whole area, pull out the data I wanted, perform a couple of calculations and then post the result on the home page of the website. With the new system, I can do the same thing but I had to start all over because the new system consolidates the data in different ways. Gone are the old market subareas that we had developed a long time ago. Now we have more ability to manipulate data on smaller and smaller levels, but the conversion didn’t mesh exactly. There’s not a way to reasonably reconcile this issue. Unfortunately, that means that there was a disconnect in the data.
What that meant was that the continuity of the data was gone. I could no longer say that the inventory was “plus or minus X%” from last month or last year because the figure used for last month or last year was completely different. Once I figured out how to pull the data I need for my Market Snapshot, I had to just bite the bullet and admit that from now on, we’re going to have to a different starting point, and the market area is going to have slightly different boundaries.
In the long run, it’s not going to matter all that much. It’s really the trend we’re concerned about. The great annoyance was that the system used to generate the Market Snapshot hit a snag, and it took longer to resolve that than I had hoped. If you’ve been keeping track of the monthly changes from the Market Snapshot, know that we’ve had a reset on the data. Let me know if you’d like the numbers from previous months so you can calculate an accurate trend.
Randall Brennan, REALTOR
Certified Negotiation Expert
Certified Investor Agent Specialist
Certified Military Housing Specialist
So what’s next? Take your pick.