Pioneering MLS App Makes Energy Costs Easy

A partnership project between the City of Chicago, CNT Energy and Midwest Data LLC (MRED) means home buyers in the City of Chicago no longer have to chase down an answer to the simple question, “What are the utility costs like?”

The Chicago Tribune reported on Wednesday that MRED, the multiple listing service serving the City of Chicago as well as surrounding collar counties, has made it easy for Realtors to comply with a City of Chicago ordinance requiring disclosure of energy costs when listing a property for sale.   According to the City press release, Chicago is the first city in the country to provide this information on home listings.

“This innovative tool will allow residents and homebuyers to factor energy costs into their buying decisions and streamline the 25-year old paper-intensive process for Realtors and utility companies, allowing them to focus on their customers. It is a win-win that will create a better marketplace and opportunity in our neighborhoods,” said Mayor Rahm Emanuel.

Slide1Indeed, MRED is truly innovating an outdated and often frustrating process where Realtors were never quite sure if energy cost reports requested to comply with City ordinance would actually show up in time for closing.  An update to the ordinance in March now allows for disclosure through an electronic database.

Now agents can collect utility account numbers when obtaining other listing information from a seller.  The agent will be prompted to enter account numbers when listing property in the City of Chicago.  With just a few button clicks, account information can now be entered and verified so that energy costs can be automatically updated to the listing.

Slide2

Agents have the option to fully comply with ordinance online by downloading and attaching a user-friendly energy cost report which is available automatically via the reporting tool MyHomeEQ which is linked with MRED’s MLS software.

Innovation via collaboration is a beautiful thing!

It was an honor to provide a little support to MRED’s product development team and the Mayor’s Innovation Delivery Team to make this idea a reality!

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