Recently, WAV Group conducted a survey targeting individuals who embarked on the journey to purchase a home. This survey aimed to explore their experiences in the context of Fair Housing. Here are some preliminary findings from the study, with the complete results are available in the Fair Housing Survey Report now avaialable.
The COVID-19 pandemic brought about significant changes to our lives, reshaping the way we work, socialize, and even where we call home. As remote work became the new norm, many individuals seized the opportunity to reassess their living situations and make a move. In this study, we aimed to explore migration patterns during the pandemic and understand the factors influencing relocation decisions. The Boomerang Effect: Relocating Back to Pre-Pandemic Homes? In our initial hypothesis, we postulated the existence of a boomerang effect, suggesting that individuals who had moved during the pandemic might eventually change their minds and desire to return [...]
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.
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WAV Group is conducting a national study for brokers only to take the temperature of the current market of real estate brokerage technology. This type of research tells you a few things. First, it tells you what you need to focus on. Secondly, it allows you to track satisfaction with the products that you have replaced to see if you have moved the needle.
One encouraging finding from the study was the high percentage of overall buyer satisfaction with the value provided by their agent. 88% of respondents thought that their agent earned the commission that they received on the home purchase. This is good news for an industry that has seen many “industry disruptors” enter the marketplace over the last several decades.
WAV Group’s new Buyer Agent Commission Study reveals many insights from buyers about their awareness, understanding and appreciation of how commissions work when buying a home.
Years ago, after the acquisition from Brookfield, WAV Group collaborated with a team at Pacific Union to take a historical snapshot of the brand from the eyes of the consumer and the agent. We identified that the local, boutique essence of the Pacific Union brand had been eroded over time by efforts to grow through recruiting anyone and everyone.
Money may or may not buy happiness, but you for sure need it to buy a house. For most people that means getting a mortgage. Thirty-five percent of frustrated homebuyers in the WAV Group Homebuyer Frustration report pointed to the mortgage process being a source of their frustration. One respondent in the study suggested, “There needs to be more workers in the mortgage field to make it run faster.”
The WAV Group’s recent study on homebuyer frustration reveals many pain points that homebuyers have been experiencing in the recent seller’s market. While some of the frustration is unique to the market conditions of 2020 and 202, like multiple bid situations, there are still many insights that can help agents prepare their clients for the process regardless of market conditions.
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.
The real estate industry worked hard to define the Clear Cooperation policy. We have learned through conversations that the number of Office Exclusives has changed significantly since the policy was implemented - but a new culprit has emerged to get around the Clear Cooperation policy. Namely, Temporarily Off Market status in the MLS.
When I was head of Marketing and PR at Imprev, now part of MoxiWorks, we polled industry brokerage leaders twice a year about their challenges and their take on emerging technology trends. One of the most common pain points that topped the majority of broker-owners lists year after year was that real estate tech didn’t “talk” to each other. Most real estate technology was in silos, they complained. Double, triple entry of the same data by agents into different tech tools was commonplace. The challenge remains daunting enough that the Real Estate Standards Organization formed the Cross-Platform Interoperability Workgroup. Its [...]