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If there is an emerging trend in broker websites today, it is collaborative search. TRIBUS had the functionality a decade ago, but really improved the product with a release announced this week called Households Collaborative Search; it is the beginning of home ownership portals. One spot for everything that includes all members of the household.
The real estate industry suffers from constrained inventory, forcing brokers to get creative in order to address the needs and expectations of home buyers who are working with a company agent.
WAV Group welcomes Max Henderson to the real estate industry. This article is part of our Follow the Leader Series, where we introduce exciting new faces to real estate.
In the media, you hear that Compass is a traditional brokerage driven by incredible technology that gives their agents an advantage in the marketplace. Frankly, I have registered for Compass’ website and mobile apps as a consumer and have not experienced anything extraordinary yet. We will continue to watch how they evolve their technology. It takes a very long time to do this, especially if you are trying to keep up with the data integrations driven by their market growth. Compass has Ori Allon as their Founder and Chairman. He founded Orion (search algorithm company acquired by Google), and Julpan (a product that analyzes social information on social media, acquired by Twitter). We have not seen Compass reinvent real estate search or do anything that integrates advanced social integrations yet. But it is part of the founder’s DNA. I am looking forward to what they bring to market.
Wow, just saw this and just HAD to comment. It’s rare that we see brokers go at each other so publicly about their competitive claims, but I have to say this letter is pretty interesting. The real estate industry is rife with hyperbole and marketing claims. Our industry’s preference of opinion over fact is one of the main reasons I started a research practice within WAV Group. The birth of business intelligence is allowing brokerages new ways to substantiate or refute claims like the article from Moxiworks shown below. Moxiworks is using MLS data married with BI tools to refute [...]
If you are a broker in a market where Compass is operating, you are watching them like a hawk. They have a keen ambition to recruit top producing agents. Yesterday they had a story in Inman News that exhibits the power of public relations. If you track real estate technology as WAV Group does, you understand exactly what this tool is and what it does. If you read the comments, you see that there are a number of technology companies that have offered this tool and functionality for a long time. But peel back the story a layer, and you [...]
There is that moment in an executive’s leadership life when they look around the office and think; what in the world are we doing? There is a rapid fix to getting back on track. It is the creation of three pillars that are often misunderstood: Mission, Vision, and Values. These concepts build the basis for the company road map, and they shine a guiding light on the pathway to goals-oriented success. In short, these three pillars are the foundation for clear direction.
The California Association of REALTORS® deserves recognition for solving one of the most significant pain points in real estate – digital forms management. When the real estate industry began the slow conversion from paper transactions to digital transactions, California led the way with the creation of a for-profit company that became zipLogix. Along the way, the National Association of REALTORS® joined CAR as an investor.
On Tuesday of next week, eXp will be releasing their earnings. By all accounts they are expected to join their peer group and beat analyst estimates. If you look at the trends, you would say that eXp is likely to stay flat when they issue their quarterly results. Apparently, the larger looming financial influence of COVID on the market is dampening the market performance of companies who have clearly benefited from COVID. Real Estate is at an all-time record high.
When George Slusser joined WAV Group to lead our Mergers, Acquisitions, and Valuations team, we all reviewed his book titled Acquiring Profit. I love reading old business books because time is a cruel fact-checker, and also because the thoughts of leaders in the past give us great guidance for our current forecasting predictions. Namely, don’t make them. When the book was written, the National Association of Realtors predicted that their membership would shrink from 820,000 to 500,000 by Y2k – the year 2000. At that time, there were also around 70,000 brokerages. The thought of industry leaders at the time [...]
Rental Beast held a press conference on Jan. 20th, moderated by Victor Lund, Founding Partner, WAV Group, to discuss the economic impact of a new policy change by Zillow. On Jan. 12, Zillow changed its rental policy and rental listings are no longer free. MLS rental listings are no longer being syndicated directly to Zillow. Instead, agents and brokerages will need to pay $9.99 per week, per listing for each rental property to be published on Zillow. The potential new costs to individual real estate agents, teams, brokerages and MLSs are massive. Ishay Grinberg, Rental Beast Founder and CEO, spoke [...]
It seems obvious that brokers should be routing leads to agents who know the customer, yet they don’t. Aidentified fixes that, creating a better customer experience and improving lead conversion by simply connecting the customer to an agent who has some sort of known relationship. That’s a game-changer.
