Last year’s database reorg and REsearch 4.3 release was intended to expand the breadth of data available in the system, but the addition of dozens of new fields and often overlapping or conflicting sections brought mostly confusion and frustration. We collected more data, but a lot of it was bad data.
Less is more. Keep it simple. Too much information. The message from REsearch users was clear. REsearch 4.5 is focused on shortening and simplifying the listing input form. And in this effort, the “Fees” section was one of the top targets.
What’s the difference between Maintenance Fees versus Association Dues? Which fees are annual versus monthly? Are members dividing or multiplying by twelve? We went back to the drawing board, going through hundreds of comments and suggestions and consulting with several industry leaders to drastically refine the “Fees” section.
Summary of Changes
- There will be two main fee fields: Monthly Association/Maintenance Fees and Monthly Master Development Fees.
- The many separate sub-fee fields for each section (Clubhouse Fee, Marina Fee, etc.) will be combined into a single value.
- Most fees will be monthly and clearly labeled as such.
- Annual Road Maintenance Fees and Monthly Sewer Fees will remain separate fields.
- “Documents Available” is no longer part of the “Fees” section of the form.
In all, the “Fees” section will be reduced from over 60 fields to 12 fields. We appreciate all the feedback you’ve provided on this and other aspects of the data input form. We hope these changes eliminate confusion, lessen the amount of time you spend on data entry, and improves the quality of the data in REsearch.
Please Review Your Listing Fees!
As we prepare to release REsearch 4.5, we strongly encourage you to invest some time in verifying the fees associated with your listings. Did you enter monthly values for association dues instead of yearly? Perhaps you entered the same values in multiple fields to ensure they showed up in searches and reports, or entered random data simply to get through the form or clear a required field?
Although entering new listings should be a drastically easier and faster process after this upgrade, bad data going into the upgrade will still mean bad data on the other side.
We’ve spent considerable time on crafting a complex set of calculations and rules to convert the values in the dozens of fee fields you see today into the handful of new fields in REsearch 4.5. But no conversion process is perfect. To minimize errors after the release, it’s worth your while to make sure the information in the current system is as accurate as possible.
Quick Check via Custom Format
One way to quickly review the set of fees currently associated with your listings is to create a custom format that summarizes all the values in each listing’s “Fees” section. We’ve prepared a step-by-step tutorial on how to do so.
Before & After
You can review the shortened, simplified data input form in its entirety (PDF), as well as the full list of changes coming with REsearch 4.5. But here is perhaps the best way to illustrate the planned return to a simplified “Fees” section.
Current Fees Section:
New Fees Section:
Data Conversion Notes
As noted above, REsearch 4.5 will include a data conversion process to reorganize the information in the current set of fields into the new set. We have set up a process to identify listings that may have incorrect or otherwise problematic data in the “Fees” section (for example, monthly fees that are unusually high and could be annual amounts).
For these listings, agents will be notified prior to the conversion and will be encouraged to double check the information. In addition, we are currently in the process of directly contacting agents or brokers with a large number of listings requiring attention.
Here is an example of part of the data conversion process:
- To determine the value for “Monthly Master Development Fees”, all the monthly values entered into the section’s 16 sub-fields will be added together. The same will be done for the current “Community Fees” and “Condominium Fees” sections.
- To determine the value for “Monthly Association/Maintenance Fees” for condos, “Association Dues” over 2400 will be divided by 12 and added to the summed “Condo Fees” and “Community Fees.”
- To determine the value for “Monthly Association/Maintenance Fees” for non condos, “Association Dues” over 100 are divided by 12 and added to the summed “Condo Fees” and Community Fees.”
Parts of the data conversion process are complex, and the individual rules are too numerous to detail in this bulletin. If you have specific questions, please don’t hesitate to contact us.
We have scheduled several live, online “What’s New in REsearch 4.5” training sessions in which you can get an overview of the changes and get your questions answered.
- Friday, Jan. 28 from 9:30 a.m. to 11:00 a.m.
- Monday, Jan. 31 from 2:30 p.m. to 4:00 p.m.
- Wednesday, Feb. 2 from 9:30 a.m. to 11:00 a.m.
- Friday, Feb. 4 from 9:30 a.m. to 11:00 a.m.
Click above to RSVP, and mark your calendars!
This is part of a series of bulletins that highlight some of the major changes coming in REsearch 4.5. We’ve also prepared a one-stop spot on the web where you can find all the information on this planned release. Please visit:
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