Welcome to the New Year! Have you performed a PR audit? What does your brand say? The inspiration for this article came from the new Realtor.com ads. The language that Realtor.com is using is “The Home for Home Search.” My first reaction was way didn’t they use “Your Home for Home Search?” When a brand like Realtor.com comes up with a slogan for a multi-million dollar ad campaign, there is purpose behind word selection. I bet that they evaluated dozens of slogans, consumer tested dozens of slogans, and did legal review on dozens of slogans.
To improve a business, it is common to focus on customer expansion, or delivering a wider array of services that your customers will pay for. For the last three years, Multiple Listing Service has been focused on consolidation (more customers) as a way of improving the MLS. Before that, the focus was on non-dues revenue. Three untapped areas for growth where most MLSs have not been successful are rentals, new home marketing, and commercial real estate. These are enormous categories in the real estate industry that have been asymmetrical because of the MLS core basis of cooperation and offer of compensation.
BHHS Fox and Roach REALTORS® is among the largest real estate brokerages in America, wholly owned by HomeServices of America, a Berkshire Hathaway Company. Fox and Roach is among the crown jewels of HomeServices in terms of size and volume along with Edina Realty, Long and Foster, Ebby Halliday and others. They have long maintained a commitment to delivering world class technology solutions to their agents and the customers they serve. Over the past two years, they have been focused on creating the most modern and best integrated platform for agents, rivaling any enterprise solution found in America today.
IRVINE, Calif., Dec. 20, 2018—CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced the launch of the Alliance Network, a group of third-party solutions that complement and easily integrate with CoreLogic real estate technology platforms such as Matrix™, Realist® and Trestle™.
Author Stefan Swanepoel began writing a series of Trends Reports in 2006. His 2019 report does not disappoint. The report chronicles the top 10 trends that he recognizes as material topics for our industry to think about. Swanepoel believes that this year will be “the single largest industry transformation in living memory.”
Irvine, Calif., December 17, 2018—CoreLogic (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today announced the Company has completed the acquisition of HomeVisit from Breakaway Holdings, LLC.
The Keller Williams pivot is beginning to make sense to me. At a time when many franchise companies are focused on systems integration, KW is trying to become a systems developer of bespoke software.
Seattle, Wash., 11 December 2018 – UpstreamRE, LLC, owners of Upstream, the comprehensive real estate brokerage data management project created by a broad-based industry coalition, is finalizing an agreement with a new vendor to power the brokerage data platform. As a result, UpstreamRE, LLC, has amicably agreed to part ways with the National Association of Realtors® (NAR) and Realtors Property Resource® (RPR), its wholly-owned subsidiary and Upstream’s technology development vendor.
Crye-Leike is the 6th largest real estate company in America, and 3rd largest independent behind HomeServices of America and Howard Hanna. The firm processes over 30,000 transactions a year across their 3200 agents, 125 offices spanning 9 states. Beyond residential real estate, they operate businesses that provide services in commercial real estate, mortgage, Title Insurance, Property and Personal insurance, property management, and relocation. A few years ago, the company embarked on a program to select a transaction management solution and tie it into their accounting system and CRM system. The result is among the most sophisticated and effective solutons deployed anywhere in the nation.
This is not the tragic story of another Realtor® being attacked. But rather the story of the REALTOR® brand value being attacked. Brad Inman asked a rather productive question on the popular Inman Coast to Coast Facebook group – “How Important is it for a licensed real estate agent to be a member of NAR?” The post invited healthy commentary. Way to go Brad!
It is that time of year again when budgeting for next year takes hold of your company. There were a few economic indicators released by First American and by the National Association of REALTORS® which provide some very interesting economic truths that need to be factored into your forecasts – especially when they are factored together. Our advice to brokers and to the technology companies that serve them is to cut fixed costs by 15%.
Sometimes Zillow Group does something that aggravates the industry, like displaying agent reviews. Other times Zillow does things that not only aggravate the real estate industry, but they point to profound best practices that are a roadmap to success. When brokers pay attention, they can learn a lot.