The DOM (Days on the Market) that is reported on the MLS Data sheet differs from what is reported from my MLS. Why is that and can I make it the same?

We have found with our work that the DOM reported by MLS’s is not consistent.  While most Realtors believe that the DOM is the same as the Sold Date minus the List Date, we have found that, that is not always the case.  In some cases, the DOM stops incrementing when the property is put it a “pending” state but not when it is put “under contract”.  
 
As a result, we calculate the DOM by taking the Sold Date and subtracting the List Date and putting that value in the DOM column.  However, if you’d like you can place the actual DOM value that is provided by the MLS instead of the calculated value we provide.  To do that all you need to do is to set the “Use DOM from MLS instead of the calculation” option.  That option can be found on the Config dialog box, and then selecting the Pricing tab.  
 
You can find the config dialog box on the PC by: 
 
  1. Go to the start page (select the “start” tab below.
  2. Then at the top of the menus, select the “Add-Ins” menu and the “Focus 1st” menu will drop down below.
  3. Using the “Focus 1st” menu, select the “Configure” option.  
  4. Then select the “Pricing” tab on top to find the option.  
 
On the MAC, select the settings wheel, and the “Configure” dialog box will show.  Select the “Pricing” tab on top to find the option
 
NOTE: If you do not have this option in your version of the Visual Pricing System, you may need to download the latest release (version 04.16.1106 or later).  

November 7, 2016 at 8:49 am Leave a comment

How do I change how Under Contract properties are used in the Odds of Selling calculations?

The Visual Pricing System Odds of selling chart will automatically calculate the Odds of Selling by adding up all the properties that were For Sale during that period and then dividing them into the number of properties that Sold.  With this data, you can have a good idea on how well homes are selling for the data you exported.  Additionally, it will calculate the Absorption Rate by dividing the number of properties that sold in that period by the number of months in that period (in most cased this would be 12 months).  It then uses the Absorption Rate calculation to determine the Months Supply, but dividing it into the number of properties for sale.  Of course, we don’t refer to Absorption Rate or Month Supply to avoid confusion to your customers.

In making these calculations, the Odds of Selling graphs will treats properties that are Under Contract the same as properties that are For Sale.  This is mostly due to the fact that it’s never done until it’s done.  In most cases, this makes sense.  It obviously made sense when there were a lot of short sales, where in many cases they never closed.  However, there are times where you may want to change how they are treated.

The Visual Pricing System allows you to treat them in three different ways on the Odds of Selling chart.

odd_c_view

  1. You can choose to treat properties that are Under Contract the same as properties that are For Sale.  This is the default.   So in the Odds of Selling calculation properties that are Under Contract will add into the Months Supply.  In the example graphic above, there are 10 properties Sold, 1 properties Withdrawn/Expired and 7 properties that are treated as For Sale.
  2. Or you can choose to treat properties that are Under Contract the same as properties that have Sold.  This impact of this will increase the Odds of Selling calculation (more properties that Sold), will increase the Absorption Rate and decrease the Months Supply. Be aware that this will NOT impact the other graphs.  Setting the parameter to treat the properties that are Under Contract the same as Sold properties will only  be in effect for the Odds of Selling calculations.  So you won’t see them in the Buying Pattern or Time to Sell graphs.  Additionally they will be identified as Under Contract elsewhere in the Visual Pricing System.  In the example graphic above, there would be 14 properties treated as Sold, 1 properties treated as Withdrawn/Expired and only 3 properties treated as For Sale.
  3. You can choose the ignore the properties that are Under Contract in the calculations.  This means that the Odd of Selling percentage will increase since ignoring them in the calculations means it will look like there were not listed during that period of time.  It also means that the Month Supply will decrease since they will not be For Sale.  In the example graphic above, there are 10 properties Sold, 1 property Withdrawn/Expired, and only 3 properties that would be treated as For Sale (the 4 Under Contract would be ignored).

So if you want to change how properties that are Under Contract, how do you do that?

  1. Open the Visual Pricing System Configure dialog box.
    1. Go to the “Start” page.
      1. On a PC, at the top of the page, select the “Add-Ins” menu.
      2. Once you do that a “Focus 1st” menu we show just below the top menu on the left. Select Focus1st->Configure
    2. On the MAC, select the “Settings” wheel and then select Configure.

When you’ve opened the Config Dialog box, you can change how the Odds of Selling calculations will treat the Under Contract properties.

odds-calculation

 

October 10, 2016 at 12:22 pm Leave a comment

Just wondering how I export my graphs as pics into an email.

The best way to send graphs via email is to send them in PDF format.

Using a MAC:

This is easy enough to do on a MAC.

  1. Bring up the chart you want to export.
  2. Select the print option.
  3. Once the print dialog box appears, in the lower left area of the dialog box is a “PDF” option with a down arrow.
  4. Click on the Down Arrow and select the “Save as PDF” option.
  5. The Save As dialog box will appear and you set the name of the PDF file and you can save it where you’d like.
Once you have a PDF file, you can easily send them via email by attaching them to your email.
Using a PC:
If you’re using a PC, you will need to download a PDF driver.  The PDF driver works just like a printer.  When you print, you will select the PDF driver and then instead of printing to paper, the driver will display a dialog box allowing to set the name of the file.  While there are several PDF drivers available, one PDF driver that we like is the primopdf driver.  We like this one because: 1) it’s free; 2) it produces good quality PDF files; and 3) it allows you to append pages (if you save the current print out to the same file, it will give you the option of appending the print out to a new page at the end of the same file or overwriting the file).

January 21, 2016 at 4:29 pm Leave a comment

I’m on a PC, and nothing seems to happen anymore when I press the big “Start Here” button. How can I run the Visual Pricing System?

It seems that a recent Microsoft upgrade for Office 2013 (we believe) has created a problem that occurs when you press the “Start Here” button that you generally use to read in an export file, it no longer works. While we believe that the problem will be fixed, there is an easy workaround that you can make use of.  Just use the “Focus1st ” menu and select the “Start” option.  The “Focus 1st” menu can be found by selecting the “Add-In” top menu item.  Once you select that, the “Focust 1st” menu will appear to the lower left.  Then select the “Focus1st” menu and the “Start” Menu will appear.  Select the “Start” menu.

Featured image

Pressing the “Start” menu will allow you to select your export file just as pressing the “Start Here” button does.

December 11, 2014 at 11:21 pm Leave a comment

How do I save my Visual Pricing Reports?

There are two ways to save your Visual Pricing Reports.  The choice you make is dependent on what you want to do with the saved reports.

  1. If your goal is to save the reports so that you have access to them later, then we recommend that you use the “File -> Save As” feature.  This will save the the reports out as a spreadsheet.  When we start a listing, we will create a folder for that listing (and for buyers we will create a folder for that buyer).  We then put everything associated with that listing in that folder.  When using the Visual Pricing system, we save the exported files and the Visual Pricing Spreadsheet that we  created in that folder.   While generating most of the graphs are easy to redo with the exported file, recreating the scattergrams and pricelines are more work that we prefer not to duplicate.  So we save all our work.
  2. If your goal is to save the reports so you can email them around, move them over to your IPAD, or put them into a CMA, we recommend that you print the reports to a PDF file and then save the files.  [ Note: We would never email the Visual Pricing Spreadsheet, because it takes too much space in an email and we would not want our customers to be able to modify what we sent them. ]

    On a MAC, saving the reports out as a PDF file is easy to do.  Just use the Print function and then find the “PDF” box in the lower left corner.  Select the down arrow and choose the “Save As PDF…” option.

    PDF-SAVE

    On a PC, to create PDF files, you will need to download a PDF driver.  [For more information on downloading and using a PDF driver select this link..]

We tend to do both.  We save our reports in the spreadsheet in case we need to make changes, and we save the reports into PDF files so we can email them and move them over to our IPAD.

October 21, 2014 at 12:30 pm Leave a comment

Why are the dates on my Scattergram different than the dates I selected in my MLS?

The dates shown on your scattergram are based only on the information that you have included on your scattergram.  So when you create your scattergram, the Visual Pricing System will look at the data that you are including in your scattergram and find the oldest date and the most recent date to determine the date range, and it will show that date range on your scattergram.

In most cases, this will be much different than what you had originally exported.  As you know, we recommend that you export data from the last two years so that you can see the trend and have a more completed set of patterns on your graphs [For more information on exporting data select this link.].  Additionally, we recommend that you look at data from the last six month (or in some cases the last year) on your scattergram when you price properties.

October 6, 2014 at 8:55 am Leave a comment

I’ve followed the download instructions, but when I go to open the file, I’m not able to get the setup program.

When your install program is downloaded it is downloaded as a SETUP.ZIP file.  Most PC Operating Systems do have a unzip program to uncompress the file ZIP file.  However, in some cases, you may need to install a unzip program.  One program that we recommend is 7-Zip.  It is reliable and free.  You can download and install the 7-Zip program by selecting this link.  Once you install the 7-Zip program you can open up the downloaded program using the 7-Zip program and then run setup.exe installation program.

May 15, 2014 at 12:39 pm Leave a comment

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