REW LEC 5 - March 2010 questions

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I have been receiving a lot of inquiries for when the LEC version 5 will be launched, how much it will cost etc and I am just about to send out a blast email to our customers so I figured it would be a good idea to create a blog post where folks with LEC 5 questions could post them and receive answers.

So here you go folks - ask away (in the comments section below) I am happy to answer any questions you may have. (Also I have posted some of the most frequent Q & A below:

Q: How much will the setup of LEC 5 be
A: Just like LEC 4 - version 5 retails at $10,000 USD

Q: Can I reserve my city now?
A: Yes - a 10% deposit is required to reserve your city *note this is a first right of refusal as per email

Q: What does "first right of refusal mean?
A: It means you are first in line once the product becomes available. However should someone else be willing to pay full price prior to launch, you will be required to step up and commit at that time with a full price purchase.

Q: When will it be available
A: By the end of March 2010 at the latest

Q: If I pay this deposit am I locked in?
A: Absolutely not - this will hold the first right of refusal for your area. If you decide you don't need the LEC 5 prior to us beginning the production of "your" LEC 5, you may simply cancel your order and your deposit will be returned to you. I only want you to have the LEC if it is perfect for you. 

 

 

Comments

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Keith Lutz

Is city reserved per LEC #? Another words, can Manhattan (NYC) have a LEC 4 person and a LEC 5 person?

Morgan Carey

That is correct, each market can have only 1 of each type of LEC but there can be more than one LEC in a market.

For example:

www.jmaproperties.com (LEC 4 in Portland)
www.portlandrealestatecafe.com (LEC 3 in Portland)

The idea behind the exclusive use of a site for a city is that no 2 REW customers using such a high end product should have to compete against another REW customer with the same looking product.

FindCRE

Morgan, do you know if the design will be geared more towards a brokerage or an agent site.

Morgan Carey

It should work just as easily for both - (usually the main difference between the two is an agent roster) - what I can tell you though is that it is the first time users will see the new "agent site" module as an option (it will be a billable upgrade that allows each agent to have their own minisite) - we do these custom now, but this will be a more productized / hardened version.

Morgan Carey

So are you finally going to take the plunge Richard ;) (I know there is other LEC 5 interest for Dallas, but for obvious reasons I would rather it was showcased in the #1 position :)

FindCRE

I'll give it a go, I know that site will be awesome. I'll email sales in the am.

Morgan Carey

For those keeping score - Sarasota has been reserved.

Jaime Carrion

Morgan, Happy New Year! I am thilled to have reserved LEC 5 for Sarasota!

Morgan Carey

Minneapolis, MN has also been reserved - thank you :)

Morgan Carey

Dallas TX is no longer available (Thanks Richard - looking forward to the new LEC 5) in Dallas! :)

FindCRE

Put me down Please. Sending $5,000 for down payment.

Morgan Carey

Already sent - thanks buddy :)

Morgan Carey

LEC 5 is now gone in Chicago :)

Morgan Carey

LEC 5 is now gone in Phoenix as well -

Morgan Carey

Just invoiced Portland as well :)

Artur

I realize the LEC 5 is many months away, but is there a list, document or source that indicates what needs to be prepared or how best to prepare for it. I'd like to get started compiling things now, if possible.

Morgan Carey

Ummmm - not being an existing REW customer - you would likely want to become familiar with the REW 2.5 CMS and snippets etc - unfortunately due to you not being a broker of record in ARMLS you currently don't qualify for feed access.

I do have good news - we have been "approved" as agent vendors for ARMLS - however due to the high cost of entry ($1000 per month for the feed) we are going to need 40 ARMLS users in order to just break even at 100% of fees going towards paying off the ARMLS fee. So anything you can do to help us find those 40 users (of iframed or otherwise) the closer we will be to giving you a feed as an agent (as opposed to you having to become a broker)

If you shoot me an email on monday - I would be happy to set you up with a dev on a CMS etc, it just won't have IDX etc

Artur

Morgan,

That's good news about the ARMLS. I will see what I can do to get some people on board.

FindCRE

Morgan, have there been any thoughts inregards to design? I may want to get another for the Houston market

Morgan Carey

Heck yeah there has brother :) Design is 80% done :) - I do have a bunch of "detail" work to do on this yet but you can check out what I have so far at http://dev40.rewtemplates.com - we will of course do a red version for you to match your VIP brand ;)

Artur

Looks interesting. How did you arrive to that design? What is the reasoning behing it?

Morgan Carey

I am trying to provide an LEC that is a bit more flexible in terms of target - previous LEC's weren't necessarily all that easily converted for brokerages with mutiple office locations and a many agent (potentially multi feed) situation. Because this LEC will be the debut of the optional "agent site" module - it needs to have a balance between know factors of conversion (featured listings, access to inventory via quick search etc) while still allowing a nice showcase of office locations and agents.

The tabbed approach allows (what I feel) is the most important highlight - the inventory, but a very quick and accessible switch to agent / office. I am not quite satisfied with the "detail work" yet - (The layout is set, but you might see changes and variations in both color and detail work) -

What I am most excited about is the implementation of the first release of a "built in" REW IDX 3.0 - it's coming along nicely http://dev40.rewtemplates.com/idx/ and I think the new look mapping and details will really pay off.

Artur

I've been playing around that site and it's quite nice, especially the 'built in' IDX 3.0.

I get giddy at the possibilities and how excited I can get visitors about the search and build business.

I can't wait to get the LEC 5 going. Even now my heart is beating faster.

Artur

So what are some of the options, upgrades for the LEC 5, or does that come once the LEC is already near completion?

Jason Lapene

LEC 5 looking really nice man, awesome job. Makes me want one!

Mark Wallington

Yes nice job good work I like it.

Portland Real Estate

I found the agent site module, very exciting. Can you tell me any more about pricing, availability for that module? Will we be able to add it to our LEC4?

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