SOURCE: Midwest Real Estate Data

Midwest Real Estate Data

September 20, 2011 15:28 ET

Midwest Real Estate Data (MRED) Announces Stunning Debut of "The Thing"

Interactive Market Analytics Tool Is Overwhelmingly Embraced by MRED Customers

LISLE, IL--(Marketwire - Sep 20, 2011) - Midwest Real Estate Data LLC (MRED) announced today that last week's debut of The Thing was an incredible success, exceeding even the most optimistic projections for customer adoption.

The Thing is an interactive market analytics tool created by 10K Research and Marketing. It utilizes MRED's massive property database to provide its customers with instant access to nearly any view of the local housing market imaginable, all within an immersive, elegant, easy to use interface. With The Thing there are no complicated drop-down lists, no lengthy search menus, no complicated analytic charts and no long wait times for results.

"I love The Thing," said Linda Corcoran, of Prudential American Homes in Western Springs, Illinois. "The graphs are impressive and make it easy for clients to understand market trends."

The Thing went live on September 13th with over 45,000 charts being requested during just the first day of availability. In other markets The Thing may typically generate requests for about 2,000 graphs a day. MRED, on the other hand, has experienced spikes of two hundred reports per minute!

"It is a thrill to be providing MRED with the tools necessary to create an organized solution for a complex and varied local housing market," said Jeff Allen, Director of Research at 10K. "If subscribers are flocking to The Thing and are finding it easy or even fun to use, then we're doing our job."

The fantastic adoption of The Thing may be attributable to how easy it is to use. In less than three clicks and three seconds, an MRED customer is able to create charts that illustrate things like average days on market of condominiums in a specific neighborhood, months supply of inventory of foreclosures at a certain price point in a specific geographic area, pending sales of single family detached lakeshore homes in a specific area or the median sales price of three bedroom short sales in a specific city.

"We are thrilled our real estate professionals have embraced The Thing and recognize the importance of having a deep understanding of the local housing marketplace," said MRED's Chief Executive Officer, Russ Bergeron. "Our brokers and agents are now able to communicate information about their markets in an understandable way that is tailored to their own buyers and sellers. This is a market analytics tool that will help our customers do more business."

About MRED:

Midwest Real Estate Data (MRED) (www.mredllc.com) is the real estate data aggregator and distributor providing the largest multiple listing service by listing volume to almost 8,000 real estate offices and nearly 40,000 customers, including brokers, agents and appraisers. MRED has expanded well into the "collar" counties surrounding Chicagoland, and its property information encompasses northern Illinois, southern Wisconsin and northwest Indiana.

About 10K:

10K Research and Marketing, a division of the Minneapolis Area Association of REALTORS®, is a growing technology company in the real estate space that partners with REALTOR® associations, MLS organizations, brokers and other real estate companies to create visually compelling, statistically accurate research reports, interactive tools and infographics. 10K works with partners to tell the story of their real estate market in a localized, elegant and easy-to-understand way with powerful tools to own the discussion of real estate in their own backyards. MLS data is utilized to bring accurate and timely housing trends to light for an unparalleled perspective on local housing activity identified with the partner's brand.

Contact Information

  • For further information contact:
    Jeff Lasky
    MRED Director of Communications and Training
    630-799-1470
    Email Contact

    Russ Bergeron
    MRED Chief Executive Officer
    630-955-2765
    Email Contact