The Wilmington-area real estate market remains fast-paced this year, leading some Realtors to adopt policies to help navigate a frenzied environment.
For Ryan Crecelius of Nest Realty, and potentially for many of the real estate agents who work with the N.C. Regional Multiple Listing Service, a tool called FOREWARN is on the list.
The app allows agents to look up a prospective client’s property ownership history, tenure with that particular phone number, vehicle ownership history and any criminal history, from violent felonies and sex offenses to drug busts and misdemeanors, accordi
ng to Crecelius, principal broker at Nest in Wilmington.
“The market is so crazy, people don't have time to think twice. So obviously you want to do right by your client or your seller, and do what you can to expedite that process or help that buyer out, whatever the situation is,” he said. “I just feel like that old school process of, hey, you need to meet with a client at a coffee shop, get them pre-approved, then go see a house – that just doesn't exist in this market that's going 1,000 miles an hour, as much as we all would hope to see that. It's just not happening.”
Crecelius said instead of ending up at a property and relying on an emergency alert app, self-defense skills, mace or something larger and louder, FOREWARN is designed to keep agents out of a potentially bad situation before it happens.
The bottom line, Crecelius said, "our agents have the right to know who they are doing business with. This app helps accomplish that."
Headquartered in Boca Raton, Florida, Forewarn LLC is part of tech firm red violet (NASDAQ: RDVT), according to its website.
Other members of Cape Fear Realtors, a Wilmington-based Realtors' association, might soon be using the tool. Anne Gardner, CEO of Cape Fear Realtors, said the board of managers for the N.C. Regional MLS has been investigating offering FOREWARN to members. The N.C. Regional MLS involves 16 associations, including CFR, and 14,000 Realtors.
Gardner said, "We anticipate they will likely recommend approval."
She added, "Any of the areas where we can improve safety for our practitioners who are out in the field is always a value-add from an association and MLS standpoint."
