Broker Technology Research Archives

What is a participant

NAR published revised guidelines this year that outline the definition of a Participant in the MLS. It is a long description, so I will put it at the end. One key element is that the mere possession of a broker's license is not sufficient, the broker must actively endeavor to make or accept offers of cooperation and compensation with respect to properties of the type that are listed on the MLS. If you are an NAR affiliated MLS, you probably have already adopted this language and amended your rules and regulations. Some MLSs go further. They require the broker to take training. Some state [...]

By Victor Lund|2018-05-03T21:24:53-07:00September 4th, 2012|Broker Technology Research, Broker-Agent Information, Main category, MLS Insights|Comments Off

Move buys Tigerlead Solutions

Move, operators of Realtor.com, AOL Real Estate, and MSN Real Estate, Listhub, Top Producer, is growing through acquisition as they announce their purchase of Tigerlead. Presumably, Tigerlead will be alternative product with similar functionality to Top Producer. The company was purchased for $22 Million. The executives from TigerLead Solutions will be joining the Move management team, strengthening their already deep bench of experts who understand how to attract, convert, cultivate, and close online home buyers and sellers. Existing Tigerlead customers will benefit from MOVE's consumer traffic that will fill lead funnels. Here is the Move Buys Tigerlead press release. "Move has long [...]

By Victor Lund|2018-05-03T21:24:53-07:00September 4th, 2012|Broker Technology Research, Main category, MLS Insights, Press Releases|Comments Off

The Unproductive Agent Exposed

In today’s Real Trends eMail update, Steve Murray talks about an important topic for REALTOR Associations and Brokers – the unproductive agent. The unproductive agent is both a blessing and an anchor on our industry. However, taking advantage of the unproductive agent may be a great source of new business for an emerging business model in real estate brokerage. The unproductive agent is a great source of revenue. Lets face the reality – without the unproductive agent paying dues to REALTOR Associations, the Associations would fail, or at least be delimited. The nation’s largest trade association, which does the most [...]

By Victor Lund|2018-05-03T21:24:53-07:00August 31st, 2012|Broker Technology Research, Broker-Agent Information, Main category|Comments Off

Annual WAV Group MLS Technology Survey – Get the Benefits!

WAV Group has always been passionate about research and helping our industry obtain data that assists professionals in making the right decisions for their organizations. We conduct numerous studies every year to that end and this September we will be fielding one of the most important studies we do, the annual WAV Group 2012 MLS Technology Survey. We started this survey in 2011 meaning 2012 will be the first year we are able to see how this critical data is trending and to see how our vendors are moving up or down in various rating areas. We would like every [...]

By Victor Lund|2018-05-03T21:24:53-07:00August 28th, 2012|Broker Technology Research, Main category, MLS Insights, Our Services, Technology Evaluation|Comments Off

Contagion is a New Word for Brokers

If you spend much time around me, you would know that I get attached to words like “curate,” and use them so frequently that it annoys the good people who are around me every day. I am working on that. I have been a student of the effort to develop, to launch, and to save the Euro. A currency sharing standard among nations is more serious, and more important than a data sharing standard. However, in many ways real estate data sharing standards are analogous. I love some of the terminology used by economists and leaders to talk about the [...]

By Victor Lund|2018-05-03T21:24:54-07:00August 17th, 2012|Broker Technology Research, Broker-Agent Information, Main category, MLS Insights|Comments Off

Great Companies Execute Effectively

Marilyn Wilson's post yesterday set off a storm. The DMV, known for its historically horrid service experience has changed their ways. They do a good job, at least here in San Luis Obsipo, CA. When WAV Group is providing strategic planning support to an MLS, Association, Technology company, or broker - we measure stuff. There is usually a comparison chart created that shows a checklist of features or service offerings that compares company or product A vs. company or product B, C, and D. This is an important exercise and the information drawn from this type of benchmarking is helpful [...]

By Victor Lund|2018-05-03T21:24:54-07:00August 16th, 2012|Broker Technology Research, How to Make Strategic Planning Really Work in your MLS, Main category, MLS Insights, Product Management, Strategic Planning|Comments Off

WAV Group White Paper: Brokers Missing Their Customers

Many real estate brokers believe that search engine optimization is a key tactic to master in their online strategy. There is a tendency to use statistics to make assumptions about your search engine optimization strategy that can lead you astray and have you investing your efforts and marketing dollars ineffectively. We all know the NAR research. 35% of buyers and 40% of sellers start their home search online. This is a totally misunderstood statistic. It does not tell us where the consumer starts their search online. Do not assume that it is a search engine like google, MSN, AOL, or [...]

By Victor Lund|2018-05-03T21:24:55-07:00August 9th, 2012|Broker Technology Research, Broker-Agent Information, Main category, MLS Insights|Comments Off

dotLoop and Trulia partner up

Press Release: SAN FRANCISCO, CA, Aug 01, 2012 (MARKETWIRE via COMTEX) -- INMAN CONNECT -- dotloop, the first real estate software company that eliminates paperwork and Trulia, a leading online marketplace for homebuyers, sellers, renters and real estate professionals, today announced a partnership to simplify the real estate process from search to close. As part of the partnership program, Trulia and dotloop will jointly promote their online real estate services to agents and homebuyers. Under the partnership, Trulia and dotloop will jointly promote both services to member agents, and help simplify real estate transactions by bringing the process online. More [...]

By Victor Lund|2018-05-03T21:24:55-07:00August 2nd, 2012|Broker Technology Research, Broker-Agent Information, Main category|Comments Off

FOR IMMEDIATE RELEASE: MRIS to Launch First of its Kind GPS‐Based Mobile App For Real Estate Professionals

MRIS to Launch First of its Kind GPS‐Based Mobile App For Real Estate Professionals Smarter Agent Partnership Provides On‐The‐Go MLS Access to Brokers, Agents and Consumers ROCKVILLE, MD (July 30, 2012) — Metropolitan Regional Information Systems, Inc. (MRIS), the Mid‐Atlantic Multiple Listing Service (MLS) that facilitates more than $92 million a day in real estate transactions, has announced that it recently partnered with Smarter Agent, the global leader in mobile real estate search and discovery apps to launch the first of its kind suite of mobile solutions for real estate brokers, agents and consumers. “It’s our goal to provide our [...]

By Marilyn Wilson|2018-05-03T21:24:55-07:00July 31st, 2012|Broker Technology Research, Broker-Agent Information, Main category, Press Releases, Technology Evaluation|Comments Off

Defense of Commissions

American business is founded on the principal that pricing for a product or service is based upon what a willing seller will accept, and what a willing buyer will pay. This happens on an individual basis with each transaction, and price fixing is not allowed. Recently, Casey William Hyland who purchased a home from a Home Services of America brokerage, Semonin REALTORS brought a suit challenging the 6% commission rates on real estate transactions. His claim indicated that the 6% rate was price fixing and is a Sherman Anti Trust Act Violation. When there are multiple transactions of commerce, pricing [...]

By Victor Lund|2018-05-03T21:24:55-07:00July 27th, 2012|Broker Technology Research, Broker-Agent Information, Main category, MLS Insights|1 Comment

Brokers pulling out of IDX

Game changers happen when businesses test radical strategies. When a company breaks from the pack they learn things that none of their competitors learn. They understand a strategy that nobody else as any experience with. They grow their business wisdom and often find new ways to edge out the competition. By studying the impacts of strategies like withdrawing from listing syndication; launching single listing websites or virtual tours; and, withdrawing from IDX, marketers can learn volumes about how these strategies impact their online strategy. Listing Syndication Strategies that work WAV Group has been studying listing syndication strategies for more than [...]

By Victor Lund|2018-05-03T21:24:55-07:00July 25th, 2012|Broker Technology Research, Broker-Agent Information, Main category, Virtual Office Website Series|1 Comment

Loyalty Marketing in Real Estate

An innovative concept known as loyalty marketing was heralded by the launch of American Airlines AAdvantage in the early 80’s and has since evolved to become competitive table-stakes as loyalty programs have saturated the business landscape. It is curious that an industry like real estate, powered by 80% repeat and referral business has missed the mark on loyalty marketing. Real Estate is not the only industry getting it wrong. It’s safe to say that the majority of programs consumers experience today have been designed “By Boomers for Boomers,” all while fundamental shifts in consumer purchase behavior demand that new models [...]

By Victor Lund|2018-05-03T21:24:55-07:00July 23rd, 2012|Broker Technology Research, Broker-Agent Information, Main category, Marketing, Sales Advisory, Strategic Planning|3 Comments