Members of the Chicagoland multiple listing service Midwest Real Estate Data LLC (MRED) will soon have access to an interactive housing market analytics tool from research firm 10K Research and Marketing (10K). Both companies announced they had entered into a licensing agreement today.

Dubbed "The Thing," the tool will allow users to create customized charts of MRED data. The charts would show data points such as homes for sale, average days on market, months’ supply of inventory, pending sales, and median sales price, filtered by criteria such as property type, distressed vs. traditional sales, price range, and neighborhood or ZIP code

Russ Bergeron, MRED’s CEO, said the tool would help MRED’s nearly 40,000 members do more business.

"Having a deep understanding of your local housing market and being able to communicate information about that market in an understandable way are prerequisites for success as a real estate professional," Bergeron said in a statement.

"Today’s consumer has access to more information than ever before. The Thing will give our customers — real estate professionals — the ability to deliver information highly relevant to that buyer or seller, and in a way they can easily understand and absorb."

The 10K research firm is a division of the Minneapolis Area Association of Realtors. Counting MRED, the firm provides services to 91 MLSs nationwide, including five that have deployed The Thing. The tool is expected to go live for MRED members in August.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription