Over $24 billion in Proptech money entered real estate in 2020. It is clear that many outsiders are looking to take over the real estate industry. To ensure your MLS stays relevant for the long haul, it is important that you provide specific and demonstrable ways to prove why being a part of an MLS makes sense for every real estate professional.
Looking for one clear way to justify an MLS subscription? Show your members how many inquiries, saves and shares the programs your MLS supports deliver to your subscribers.
Listtrac, a free product available to many MLSs today delivers a simple, yet highly effective way to prove the value of your MLS.
Many MLSs today are offering both Homesnap Pro AND their own local MLS consumer-facing website as well as enabling IDX feeds to promote listings on broker and agent websites.
ValleyMLS in Huntsville, Alabama, a thriving community, uses Listtrac to articulate the value of the online lead gen programs they support. ValleyMLS currently enjoys 4000 members and approximately 1000 listings.
In just one month, the programs supported by ValleyMLS delivered 3165 free listing inquiries.
Homesnap Pro – #1 Lead Generation Source
Homesnap Pro, the #1 lead generation source for ValleyMLS subscribers, and the # 1 rated mobile app for real estate, generated nearly 1000 FREE leads for ValleyMLS subscribers in just 30 days.
ValleyMLS.com, the MLSs local MLS website, created 600 requests for a showing. IDX sites generated another 373 inquiries.
It makes sense to publish these stats regularly to your subscribers. Over time, if you continue to drive home the point that your MLS generates thousands of FREE leads for your members, they will begin to appreciate your MLS for more than simply the MLS system itself. To survive for the long haul, MLSs are going to have to build stronger relationships with their subscribers. They are going to have to demonstrate tangible reasons why subscribing to the MLS is a good business decision.
Zelda Friedman, ValleyMLS broker says, “With the ever-increasing cost of generating online leads for our agents, we are very appreciative of ValleyMLS.com’s continual efforts to attract more consumers to a portal that follows the Fair Display Guidelines and also delivers thousands of free leads every year. ValleyMLS.com is already one of the top sites in Alabama and we’re supportive of the on-going improvements and aggressive promotion to make the site even more powerful. We’re so glad to have an MLS that GETS it. They know how hard it is to thrive as a brokerage and they are doing everything in their power to help generate profitable business opportunities for us.”
Homesnap – #1 Source of Saved Listings
Engaged potential buyers and sellers save listings. They may be watching price points, days on market, or simply dreaming about a home. For ValleyMLS users, Homesnap and ValleyMLS.com are the two top sources for Saved Listings. Again, the MLS organization is helping to drive consumers to Homesnap Pro and ValleyMLS.com, both of which follow Fair Display Guidelines with a Your Listing, Your Lead Philosophy. Valley MLS delivered tools that helped consumers save over 8000 listings for consideration. If just 5% of those saved listings turned into a sale, ValleyMLS will help generate over $7 million in commissions assuming a $300,000 average price point. What better way to demonstrate value than to tie MLS marketing technologies directly to transactions and sales commissions?
The good news is the Listtrac reports are published weekly. You can create a standardized article that you can send out to your brokers regularly to show them the value you deliver. You can show them why you chose Homesnap Pro as your Mobile app partner. You can demonstrate why your local MLS website is worth more investment. You can also quantitatively PROVE that MLS websites generate value because they are seen as an objective, yet authoritative source of real-time, comprehensive and accurate real estate information.
If you would like to find better ways to dial up the customer satisfaction and loyalty for your MLS, reach out and we’ll be happy to help.