A Letter From Your CEO

Dear IRES Subscribers, 

Many of you have been busy! Almost every market metric has improved compared to this time last year. 

New listings, pending sales and closed sales are up. So are median and average sales prices. The market is adding new inventory faster. Month’s supply of inventory has increased, but still is at a super low 2.6 months market wide. All this data, and more, is at your fingertips via the Infosparks/FastStats accessed from the reports tab in IRES. 

With so much activity going on, you may not be focused on the impending changes to your MLS as mandated by the NAR settlement.  

No worries, we are. 

Most importantly – today, nothing changes. 

However, an important date to be aware of is August 17^th. The NAR mandatory rules, which govern association-owned MLSs like IRES MLS, establish that date as the deadline for implementing MLS changes to comply with the NAR settlement. 

Please know that we will time the changes in our system and the implementation of new rules that affect you, our Participants and Subscribers, to coincide as closely as possible with that end date. None of this is happening in a vacuum. IRES will work in concert with all stake holders to make this upcoming transition as seamless and as least disruptive as possible. 

The one thing that I would ask of you, is to focus on embracing the new paradigm in the market when we make the transition. Each of you works hard and in creative ways to help your clients achieve their goals. Please apply that creativity to making the new marketplace work and help us ensure a successful transition. All eyes are watching. You are our partner in making this work. 

Be on the lookout for more communications from us in the weeks and months ahead on how this comes together. Thank you for being a part of, and trusting in IRES to continue to foster a pro-competitive marketplace.