Safeguarding Success: How to mitigate risk from potential DOJ mandates and other outside threats

In the ever-evolving landscape of the real estate industry, Multiple Listing Service (MLS) executives face a myriad of risks that have the potential to disrupt operations, tarnish reputation, and compromise data integrity.  In such a dynamic environment, proactive risk management is not just advisable — it's imperative. In this article, we'll explore the importance of “scenario planning,” or anticipating and mitigating the worst-case scenario within MLS organizations, and we’ll outline strategies for fostering a culture of preparedness and adaptability.

By |2024-04-25T08:09:27-07:00April 25th, 2024|Industry Observations, MLS, MLS Insights, Strategic Planning|Comments Off on Safeguarding Success: How to mitigate risk from potential DOJ mandates and other outside threats

Brokers Over $2B in Volume Should Prepare for Mediation

Get your attorneys on it. Pay close attention to the settlements that have already been announced, and do some 5th grade math.

By |2024-03-26T10:23:34-07:00March 26th, 2024|Broker Information, Legal in Real Estate, Strategic Planning|Comments Off on Brokers Over $2B in Volume Should Prepare for Mediation

RECRUITMENT SUCCESS: ANNUAL BUSINESS PLANNING WITH YOUR AGENTS

As we stand on the cusp of a new year, real estate agents across the United States are gearing up for the challenges and opportunities that the new year presents.  This offers brokers a key opportunity for connection, mentorship and guidance in annual business planning exercises.  Whether this is accomplished through group sessions, one-on-one mentorship, or virtual training and resources, assisting your agents with establishing obtainable goals and developing a measurable path for success plays a big part in your annual recruitment and retention efforts.   I work with many brokerages each year in the development of strategic annual planning programs.  Below are my tips, tricks and strategies for brokers looking to stand out from their peers and serve as true servant leaders.

By |2023-12-01T10:48:40-08:00December 5th, 2023|Broker Information, Recruiting, Strategic Planning|Comments Off on RECRUITMENT SUCCESS: ANNUAL BUSINESS PLANNING WITH YOUR AGENTS

Navigating the 2024 Recession: Balancing Cost-Cutting and Growth Pursuit Strategies

While cutting costs is crucial for immediate survival, strategically pursuing growth can position companies to emerge stronger in the post-recession landscape.

By |2023-09-08T12:41:23-07:00September 19th, 2023|Business Intelligence, M&A, Our Services, Strategic Planning, Thought Leadership|Comments Off on Navigating the 2024 Recession: Balancing Cost-Cutting and Growth Pursuit Strategies

Hey, Agent: Want to Own a Brokerage? 4 Questions to Ask Yourself

Should you build your first brokerage or consider buying a business that’s already launched? These four questions can help a top-producing agent decide what’s next.

By |2023-09-08T13:01:20-07:00September 12th, 2023|Acquisitions, Mergers & Acquisitions, Strategic Planning, Team Building, Thought Leadership|Comments Off on Hey, Agent: Want to Own a Brokerage? 4 Questions to Ask Yourself

What’s your exit plan? Here’s how to sell your real estate brokerage

Selling a real estate brokerage isn’t like selling any other type of business. Here are 16 steps to take before the deal is closed.

By |2023-08-09T13:35:58-07:00August 10th, 2023|Acquisitions, Business Intelligence, M&A, Mergers & Acquisitions, Strategic Planning|Comments Off on What’s your exit plan? Here’s how to sell your real estate brokerage

Do You Know What Your Brokerage Is Worth?

How much is your brokerage worth today? Being able to answer that question on the fly can save you money today and help you plan for the future.

By |2023-07-24T12:10:55-07:00July 24th, 2023|Acquisitions, Business Intelligence, M&A, Mergers & Acquisitions, Strategic Planning|Comments Off on Do You Know What Your Brokerage Is Worth?

Are you afraid your real estate organization will not survive for the long haul?

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. 

By |2023-05-19T10:02:49-07:00May 20th, 2023|Business Intelligence, How to Make Strategic Planning Really Work in your MLS, Our Company, Strategic Planning, WAVes of Change|Comments Off on Are you afraid your real estate organization will not survive for the long haul?

Strategic Failure

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 [...]

By |2023-05-12T07:56:11-07:00May 12th, 2023|How to Make Strategic Planning Really Work in your MLS, Main category, MLS Insights, Strategic Planning|Comments Off on Strategic Failure

Create Raving Fans! 5 Gotta Haves for your 2023 MLS Budget

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 [...]

By |2023-05-08T07:18:52-07:00May 8th, 2023|How to Make Strategic Planning Really Work in your MLS, MLS Insights, Strategic Planning, Wav of Change|Comments Off on Create Raving Fans! 5 Gotta Haves for your 2023 MLS Budget

Secrets of MLS Customer Satisfaction

Trends are a numbers game. The bigger the data set, the better the answers.  That is exactly what the WAV Group Customer Experience Index (CXI) is producing — great answers.  WAV Group has fielded hundreds of surveys over the last two plus decades. As consultants, we have been able to, over the years, garner insights from previous surveys that help inform current clients. However, what the industry was missing was the ability to stack results side-by-side and understand true areas of strength and opportunity, not just in local markets, but for MLS organizations nationally.  But data is only as good [...]

By |2023-01-11T14:01:57-08:00January 11th, 2023|Associations, MLS, MLS Insights, Strategic Planning, WAV Group Research|Comments Off on Secrets of MLS Customer Satisfaction

The Broker Business Intelligence Gap

Here at WAV Group, we invest a lot in business intelligence. Business intelligence is a broad term that can mean a lot of things. We define it as a 360-degree review that combines the collection of information from a variety of sources, then benchmarked against peer groups.