CHICAGO, Nov. 3, 2016 /PRNewswire/ -- Michael Lane, President of ShowingTime, announced today that the company is launching a newly developed residential real estate market index to provide real estate professionals, REALTOR Associations and Multiple Listing Services with actionable insights to better serve buyers and sellers.
- Showing activity is a highly reliable indicator of current and future market activity
- Data from showings can be used to forecast market trends, facilitate better decision making for both buyers and sellers, and assist real estate professionals in identifying and capitalizing on "hot spots"
- ShowingTime combines showing data with information from its MarketStats division to provide actionable insights
The Showing Traffic Index - to be launched first in the Mid-Atlantic region, in conjunction with MRIS, one of the largest MLSs in the country - was developed in part using data from the three million property showings scheduled across the country each month using ShowingTime products and services.
"Brokers today seek and value information that helps them run their business more profitably," said MRIS President and CEO David Charron. "The Showing Traffic Index is a wonderful example of how MLS data and showing data can be leveraged on behalf of real estate brokers. We look forward to applying this business tool in 2017."
ShowingTime anticipates that the Index, derived in part from the average number of appointments an active listing receives in a given month, will prove to be an accurate gauge of real estate demand. It is the first index being introduced by its MarketStats division, and will be one of several economic indicators to be compiled based on showing activity.
"MLSs and Realtor Associations have a huge appetite for data and analytics," Lane said. "Our clients have asked us to research, design and implement analytical tools for their business-to-business services with real estate agents and brokers. The Showing Traffic Index represents a major step in this strategic direction."
ShowingTime is exhibiting at the National Association of REALTORS Conference & Expo in Orlando. Mr. Lane is available for media interviews. Contact Tom Denk, VP of Marketing at email@example.com or (312) 545-9242.
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