There are billions of dollars pouring into our industry today-- investment bankers and venture capitalists alike have caught the real estate bug. If the programs and companies you offer don’t meet the ever-changing needs of consumers, then you’re not going to be around for long.
Preparing for a Strategic Planning session involves a process of gaining a holistic view of the organization. Understanding your customer’s perspective is always the primary driver that informs everything. But understanding of staff culture and capabilities; system strengths and limitations; financial conditions; and industry trends pave a path to developing a plan that works. At the end of the day, the board of directors and the management team agree to a group of initiatives that will make the business stronger, and the strategic plan is born. Some organizations in real estate take the plan and execute it flawlessly where others [...]
WAV Group conducts more subscriber satisfaction research for MLSs than anyone else in the country, including our industry first Customer Experience Index. We have a depth of understanding of the key drivers of satisfaction and perceived relevance for MLS organizations. Here’s the 5 key opportunities for improving your MLS’ satisfaction and relevance as you move into 2023: Go TO Your Members Create a Field Support/Training Team There is NOTHING that drives up customer engagement and satisfaction for MLSs more than a team of customer servants that go out into the field, attending office meetings, broker events and community events. These [...]
Agents across the state of Louisiana will gain access to statewide data while keep the software they are using today all for one statewide MLS fee.
We’re starting to see the impact of a new leadership team at the National Association of REALTORS® led by Bob Goldberg, a strategic, yet practical leader that is SERIOUS about making the industry function more effectively. He also seems to be critically evaluating every investment in technology and making some bold moves to re-focus efforts. NAR announced yesterday that is shutting down development on its Advanced Multilist Platform, or AMP. AMP was under development for a few years at a burn rate of $6 Million per year. The concept behind AMP was solid – consolidate MLS data into a single [...]
By far, an IDX feed is the most heavily used broker tool offered by MLSs today. Most brokers offer IDX data including active listings and many also include SOLD and PENDING listings thanks to the NAR IDX policy changes which allow brokers to leverage all statuses. One progressive MLS recognized how important IDX feeds are. RMLS in Portland, took the proactive step to transition every one of their IDX feeds to a RESO Certified collection of data. This bold step allows all brokers to take full advantage of the rich collection of data relevant to their market available with Platinum [...]
‘Naked’ listings are a disservice to both buyers and sellers and WILL hurt your brokerage! When a listing hits the MLS and is syndicated to brokerage and portal websites — especially in 2017 — there are qualified, avid buyers who are waiting for that listing. They want to learn everything they can about their potential new home so they can decide whether it’s worth the asking price and whether they should spend some of their precious house-hunting time taking a tour. Let me ask you something: How easy do you think that is to do without any listing photos? “Naked” [...]
Think about this for a second: The more highly qualified leads that an MLS generates all represent clients who are serious about buying or selling a home. It makes sense. If those buyers are smart enough to be looking at an MLS or brokerage website instead of combing a portal at 2 a.m. for a home, then they’re probably a more serious buyer or homeowner looking at whether the time is right to sell their home. So why do MLSs insist on selling their ability to generate serious business opportunities short? MLSs are lead-generation machines that give brokers a bounty [...]
First Multiple Listing Service (FMLS), located in Atlanta, Georgia is seeking a new Chief Operating Officer. Founded by real estate brokers in 1957, First MLS was the first MLS in the state of Georgia. It has a unique business model which is highly economically beneficial to brokers which creates strong loyalty and commitment. Currently FMLS serves more than 36,000 real estate professionals in Georgia with over 2000+ broker offices. The FMLS database currently contains more than 39,000 active listings spread across 110 counties throughout the state. FMLS’ Mission is to “help fulfill financial dreams by providing superior technology, service and [...]
After the crash in the housing market, real estate was hit by the worst recession in our nation’s history. Frankly, brokers took a beating and operated at a loss for a number of years. Since the low point, things have been steadily been improving. There was a lot of speculation that the foreclosure volume in the hardest hit markets were clogging up the supply side. As we turned the corner, these distressed properties were slowly released into the marketplace and they are mostly absorbed. There was a two to three year heyday for brokers and agents who specialized in REO [...]
I would attribute the series of postures on The Future of the MLS to Saul Klein. He may not have been the first to coin the phrase, but he has embraced it and made it his own. It is with due respect that we leave that posturing behind and set forth on a new journey. Our industry is at an inflection point, and my fear is that we are too blinded by current affairs to look beyond the steps in front of us. This morning, I encountered a quote from Antoine de Saint Exupery, a French writer, poet, and aviator [...]
The National Association of REALTORS® Midyear Legislative meetings may have reached a tipping point on the role of the MLS in real estate. To be sure, it is the battleground of our industry where brokers and associations struggle for power within the oversight of the Department of Justice. Competing MLS entities develop their operating philosophy that draws the boundaries of how everyone coexists without behaving like a monopoly. To be sure, the MLS is a common use term that takes on a lot of different definitions. Here are the top 5 governance models that define the operating philosophy. Association Owned, [...]