Redfin has converted to the Constellation1 data aggregation service. The two companies have been collaborating on the transition in stealth mode. The Constellation1 managed MLS data is now live on Redfin.com. If you are an MLS providing data services to Redfin and have not gotten a new three-party data application, you probably will soon.
If I told you I could run a 40-yard dash in only 20 seconds, you might think that is amazing, unless you knew that professional athletes run it in more like 4 seconds. The point is that simply measuring your performance without a standard can warp your perspective. But what is the standard that you SHOULD use to measure your aptitude?
There are three key challenges facing MLSs today that all organizations must address, regardless of their size or geographic boundaries. The first is market complexity. Just ask any brokerage that has tried to integrate a new MLS data feed into their existing tech stack. When data fields and policies don’t line up exactly, that can create a bottleneck in the flow of data.
Clootrack surveyed over 102 customer experience experts in a recent study that looked at the importance of the customer experience as a key differentiator for successful businesses. The second biggest challenge these experts pointed to, for organizations improving the customer experience, was this idea of a customer-first mindset.
There is a strange and incongruent set of policies, rules, and customs in real estate that apply to the display of broker attribution on listings. State laws regulate broker attribution on signs and in advertising. In most markets today, client servicing tools used by agents to work with homebuyers are afforded the opportunity through rules and policies to deprecate (remove) the broker attribution entirely.
Something that you do not see very often in real estate is a lockbox vendor replacement. They rarely happen because of the number of lockboxes out in the field. Unless the vendor relationship breaks down or the vendor is mandating that the old lockboxes be replaced or are unsupported – ultimately, change does not happen. MIBOR made the change to begin using bluetooth-enabled Master Lock boxes.
If you want to improve your MLS customer’s experience, one of the first critical steps is mapping out the entire customer journey. From awareness, to purchase, to onboarding to active involvement, there are dozens, if not hundreds, of customer touchpoints that influence the customer experience and your customer’s perception of your organization.
Training is a key contact point for MLSs to encourage participation from their subscriber base. We find that one of the largest hurdles to technology adoption is understanding how that technology works and connects to their day-to-day activities as an agent.
At WAV Group, we have been helping MLSs and associations measure their success and helping them find the areas to improve. These years of experience of hundreds of surveys has led to the creation of the first Customer Experience Index (CXI) for the real estate industry.
As the vaccines are making it possible to return to the office, many of the MLS and association clients that WAV Group has met with have begun weighing the pros and cons of reopening their offices. Our new study explores this issue with insights from over 100 MLSs and associations nationwide.
Delivering MLS services that resonate with every segment of your customer base is getting ever more challenging. Every person on the staff has to be sensitive to the diverse needs of MLS subscribers and participants. To help organizations with this challenge, the Council of MLS offers a strong suite of training tools called the CMLX series.
In a recent press release issued by CEO Stuart White, Realtracs announced their ambition to expand their services. WAV Group reached out to learn a bit more about the tactics that they plan to deploy.
