What you need to know…
When State-Wide MLS launched the Rhode Island Commercial Information Exchange (RICIE) in 2013, its purpose was to provide those working in the commercial real estate market with specialized research and marketing tools just as MLS has delivered to residential practitioners for many years.
Now that RICIE (and its “Catylist” system) has established itself as the premier commercial property resource in our marketplace, MLS leadership decided that it would be beneficial to our users and their clients to no longer run parallel (and often, incomplete) MLS and RICIE commercial listing databases. Therefore, with the move to Matrix, the MLS system will no longer support the management of most active commercial property records.
Since Matrix launched on December 7th, the Commercial Industrial/Investment (Category 5 – CII), Business Only (Category 6 – BUS) and Commercial Lease (Category 7 – CIL) property types will be replaced with a new “Commercial Multifamily/Mixed-Use” (CMM) category. At that time, only 5+ unit multifamily and mixed-use (which includes a residential unit) commercial property types will be accepted into Matrix, while all other commercial listings will need to be entered & maintained in the RICIE exclusively.
What you need to do…
- Review your inventory – If you currently have an active, for sale commercial property in the Fusion system that’s either classified as a mixed-use (with a residential unit) or multi-family (5+), that data will be automatically converted from Fusion to the new Commercial Multi-Family/Mixed Use (CMM) property category in Matrix.However, if you currently list commercial property in the Fusion system that’s not mixed-use or multi-family (5+), that data will need to be added to RICIE in order to have continued exposure to other MLS users before the January 31, 2017 cutover.
- Activate your free “Basic” RICIE account – Simply complete and return the RICIE Subscription Form found on the “How to Join RICIE” online resource page. “Basic” RICIE access is provided at no cost to all MLS users, while “Full” access to RICIE’s research and marketing tools is available at an additional cost. (Please know that, in order for a Subscriber to join RICIE, the Designated Broker (Participant) must also be a registered RICIE user. The Participant can join as “Basic” while the Subscriber joins as “Full”.)
- Re-enter your active listing data – Due to data integration issues, commercial listing content cannot be migrated from Fusion to RICIE automatically. Therefore, users are strongly encouraged to re-enter their active commercial listing content into RICIE before Fusion is taken off-line on January 31, 2017.
Where can I learn more about RICIE & Matrix?
Visit our Matrix online resource page for more information on the conversion, including timelines, training classes, impact on commercial listings and more, or contact our Tech Support Help Desk at 785-9898 (select Option 3).