Tip of the Week – Florida REALTORS Absorption Rate Calculator (coming soon)

One of the things we heard at the recent Florida Realtors Convention was the importance of pricing your listings right. A new tool coming soon from Florida Realtors is an Absorption Rate Calculator (ARC) that can be used in conjunction with the MLS to help determine the right price. It should be available within a short time. In order to use this tool, you need to be able to export listing information from the MLS.

The export function in the MLS is a two-part process. First you need to create a custom report, one for each category. The custom report will contain a list of the fields (sold price, area, dates, etc.) needed for the calculator. The good news is that once you create the report, you can use it for as many searches as you need.

Second, you run the search and use the custom report. The MLS exports listing data as a tab delimited text file that can easily be opened and converted into an Excel spreadsheet. Copy the data columns into the calculator and use the tabs to customize the report for each need.

The information that I have at this point is that the calculator is in Microsoft Excel format, so you may have to that specific program to make it work. I don’t know yet if it will work in other spreadsheet programs. But I’ll be doing some checking once the tool is available.

As more information becomes available, such as the exact field list, etc. I’ll put out a detailed Tip about how to export listings, convert them to Excel, and use the calculator. If you’re already familiar with exporting listings from the MLS, you’re all set. If not, we’re here to help you with it.

Coming up inside the next month or so will be an advanced MLS training class called Tools. This class includes setting up custom reports and exporting listing information. Assuming the ARC will be available by then, we’ll feature the calculator in this class. Watch the ECAR Class Schedule to see when the class will be held.

If you have any questions, please call us at 850-244-2411, or email susan@ecaor.com.

Susan Beck, MLS Director
Emerald Coast Association of REALTORS
Fort Walton Beach, FL