Nov. 7, 2011
-- What is it about Midwest Real Estate Data (MRED), a real estate data aggregator, distributor, and multiple listing service provider for northeast Illinois, that says “public service” or “consumer oriented”? Probably nothing.
MRED’s core business is to provide great tools for its brokers, agents and appraisers with which their businesses succeed. A technology company focused on Realtors® wouldn’t be touching real estate consumers, would they? Nothing could be further from the truth. Besides the obvious facilitation of buying and selling, MRED contributes directly to increasing home ownership opportunities.
MRED has become the leader in providing what Chief Executive Officer Russ Bergeron has coined as “Public Service Apps”. These are tools provided to MRED real estate professionals that assist in the purchase and sale of homes by offering benefits directly to the consumer.
An example of a Public Service App is MRED’s Fannie Mae Short Sale Assistance Desk (SSAD). Many sellers are dealing with the unfortunate circumstance of being “underwater”
- having to sell their home for less than the amount of their mortgage. To complete a sales transaction the mortgage company must accept payment of less than it is owed. Too often sellers and their real estate agents have had difficulty getting their lenders to address “short sales” in a reasonable amount of time. MRED’s SSAD provides help to MRED agents directly from Fannie Mae, who intervenes to address these situations and quickly resolve difficult transactions.
Another recently introduced and well received Public Service App is MRED’s Down Payment Resource. This tool matches properties in MRED’s database that may qualify for a number of down payment assistance programs. Once program(s) have been identified, the agent can then assist their buyers by walking them through the qualification process for homes in which they are interested. In today’s real estate market, mortgage lending has taken a major role – from more demanding credit scores to higher down payments. MRED’s down payment assistance program literally puts money in peoples’ pockets, helping buyers buy and sellers sell.
“Though we provide products and services directly to real estate professionals, we are well aware of the impact that real estate has on the nation’s economy, as well as the importance of home ownership to the American dream,” said Bergeron. “We are very aware of our Public Face, and our goal is to bring a smile to the faces of not only our customers, but to the consumer as well.”
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Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to nearly 8,000 real estate offices and 40,000 real estate professionals, 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.