A multiple listing service listing alert tool from real estate software firm W&R Studios is now available to members of six large MLSs that collectively represent about 200,000 real estate professionals.
The firm first launched the tool, Cloud Streams, in April to members of the nation’s largest MLS, California Regional MLS. Now, Cloud Streams is also available to members of Shrewsbury, Massachussetts-based MLS Property Information Network (MLS PIN); Arizona Regional MLS; Denver area-based Metrolist; the Greater Las Vegas Association of Realtors MLS; and Portland, Oregon-based RMLS.
The MLS of Long Island (MLSLI) and Northwest MLS (NWMLS), each of which have between 24,000 and 25,000 members, have also granted W&R Studios permission to use their data for Cloud Streams. The company is working on getting the tool up and running in those markets, according to W&R Studios co-founder Greg Robertson.
Although W&R Studios’ comparative market analysis tool, Cloud CMA, pulls data from more than 240 MLSs, the company must negotiate separate feed agreements with each MLS for Cloud Streams, Robertson said.
Cloud Streams allows agents and brokers to set up a client portal, or “stream,” for their clients based on search criteria such as ZIP code, list price, bed and bath count, and other filters, or allows agents to email clients a note instructing them to set up the criteria for their own stream. When a home matching the search criteria hits the MLS or a home’s listing status or price changes, clients get an email or text alert branded to the agent.
Clients can receive alerts in real time, daily or weekly. The alerts put photos front and center and link to mobile-responsive client portals. Via the portals, clients can provide feedback, through “likes” or comments, on the homes in their stream that agents can then use to further narrow their home search.
Cloud Streams is available to agents on a subscription basis, though Robertson said the company is talking with some MLSs about offering the tool as a free member benefit. Subscriptions cost $34.95 per month, $299.95 per year, or $399.95 for two years. The company offers a 30-day free trial.
So far, the tool is “just getting started” with about 500 subscribers, Robertson said. Subscribers have created over 700 streams and shared over 35,000 listing alerts, the company said.