MLS Policy for Days On Market

Depending on where you are, Days on Market could be a hot topic. Perhaps the most sensitive area to Days on Market is San Francisco. I had a chance to talk to Steve Mavromihalis of Pacific Union about this topic last week. Steve is one of the most productive agents in the nation. Every year, WAV Group watches the listing count for Pacific Union go down by two thirds starting just before Thanksgiving and lasting until March or April – that’s 5 months of the year. Clearly this has P&L implications and budgeting implications for the brokerage. The truth is [...]

By |2018-05-03T21:23:27+00:00December 16th, 2015|Main category|1 Comment

Stop Buying Technology

It’s the season. WAV Group is fielding satisfaction surveys to determine how agents and brokers use or don’t use technology offerings. We even encounter a curious situation where we are measuring satisfaction with broker solutions and MLS solutions in the same market. Sometimes the easiest answer to a strategy is the simplest. What WAV Group sees today is that less is more. Too many technology solutions is real estate have feature creep. Regardless if it is a broker CRM or the MLS system – they are too complex.  In real estate technology, usability trumps functionality. Change is Hard The most [...]

By |2018-05-03T21:23:27+00:00December 16th, 2015|Broker Technology Research, Main category|0 Comments

Hire a Curator

A quick Google search brings up the definition of curator – it is a word derived from the Latin word curare – meaning, “take care.” A curator is a manager or overseer. Traditionally this word has a connotation of maintaining historical things because it is an official position in museums, but that is not the context intended here.  The role of a curator in today’s business is to keep things current. WAV Group Communications starts projects with an audit. We begin by understanding the variety of audiences that the company engages. We then take a look at how MLSs or [...]

By |2018-05-03T21:23:27+00:00December 16th, 2015|Main category, Our Services|0 Comments

Syndicate like you Facebook

By now, everyone has experienced social media. The pinnacle of social media is Facebook. One of the early criticisms of social media marketing is that it is essentially spamming your friends. Posting the same thing every day is not going to make it more interesting. There is a lesson to think about here...let's switch sites. Every month, MLS systems are estimated to send out 200 million emails to consumers notifying them of new and updated listings. I think most people refer to them as auto-alerts or auto-notifications. That number of 200 million grows larger when you include the number of [...]

By |2018-05-03T21:23:28+00:00November 20th, 2015|Main category, Marketing|0 Comments

First Month Impact of TRID

TRID has caused a lot of concern for residential real estate. The high percentage of home sales that include purchase loans makes the relationship between mortgage and home sales vital to the health of the industry and the national economy. There was an enormous amount of preparation to adjust to the new TRID regulations that were implemented October 1st, and a clear belief that closing periods would be dramatically extended. We reviewed the performance of many of our brokerage accounts to see what happened. October was the kind of month that researchers like the WAV Group would prefer to remove [...]

By |2018-05-03T21:23:28+00:00November 17th, 2015|Main category|0 Comments

Solving for Technology-Confused Agents

WAV Group supports organizations (Brokers/MLS/Associations/Franchises) to develop support services for the technology applications used by agents. To kick off these programs we audit the systems that an agent has access to. This is an administrative process whereby we inventory all of the tools that they access from any source. 7 Sources of Real Estate Agent Technology (with one common example) National Association of Realtors – RPR State Association of Realtors – Forms Local Association of Realtors – Lockbox Multiple Listing Service – MLS system Franchise – lead management Brokerage - eMail Self – website The Big Problem: 7 different channels [...]

Brokers Need To Sharpen Their Value Story

WAV Group is re-launching a number of brokerage brands today. Re-launching a brand does not require a brand to change, but the brand communication changes. We review how the brand is communicated everywhere, but especially where the brand has the greatest reach – in your technology applications. A brand re-launch begins with a strategy to tell the story about why your brand is a good choice. We identify why your managers (employees) work for your firm so competitors do not hire them away. We define the reasons why agents (contractors) work for your firm so they cannot be recruited away. [...]

By |2018-05-03T21:23:29+00:00November 11th, 2015|Main category, Marketing, Our Services|0 Comments

Case Study: Finding the right Transaction Management system for your firm

WAV Group has just published a case study examining enterprise-level transaction management systems WAV Group Consulting works with real estate brokerages to perfect back office enterprise business. This case study tells the story of how Hunt Real Estate evaluated their choices for enterprise transaction management. The firm spans nearly a dozen MLSs across multiple states with a plethora of integration points for customer records, listing records, forms, and agent records.This case study is designed to represent a roadmap for other firms to consider when making such an important technology selection. Download the Hunt Real Estate case study HERE.

America’s Largest MLS Offering System of Choice

One announcement that was made around the Council of MLS meetings was the intention of the California Regional Association of REALTORS to offer the Paragon MLS system alongside the CoreLogic Matrix system. This was a big topic of conversation in our recent webinar, the most recent installment in our ongoing WAVes of Change series. Just think about it – they will be running in parallel forever. History CRMLS is a complex MLS. They support 78,000 subscribers and they plan to grow. California has a lot of Paragon installations in California, including some large MLSs like San Diego County and a [...]

By |2018-05-03T21:23:31+00:00November 4th, 2015|Main category, MLS Insights, Our Services|0 Comments

Is Email Volume Killing Your Company?

Lingchi is the roughly the word that the Chinese use to describe a form of torture whereby a person is executed by 1000 cuts. Dying the death of a thousand cuts has become a familiar business term that can have any range of meaning. WAV Group fielded a question from large brokerage firm – "how do we reduce email in our company?" Communication in a company is good, but too much communication as an adverse impact. What follows is my reply. Calculate the spoilage - If it takes each member of the company an hour to clean out their inbox [...]

By |2018-05-03T21:23:31+00:00November 3rd, 2015|Broker-Agent Information, Main category|1 Comment

WAKE UP BROKERS! Hablas Espanol?

Today, 85% of homebuyers are white, but that is changing rapidly in America. The new and growing homebuyer population is Hispanic or Latino, and most do not speak English well enough to have confidence in a real estate transaction written in a foreign language, with an agent who is not bilingual. Yikes or Opportunity? We think opportunity. From 2010 to 2012, the number of Hispanic homebuyers increased 38%! Today, only 20,000 of the nations’ 1.2 Million members of the National Association of REALTORS is Hispanic. By the way – all of the stats quoted here look at data collected in [...]

By |2018-05-03T21:23:31+00:00November 2nd, 2015|Broker-Agent Information, Main category|0 Comments

Online Marketing is for Sellers, Recruiting, and Retention

It's November, the beginning of budgeting and planning for a successful 2016. WAV Group studies the online effectiveness of many of today’s leading brokers and provides audits and advisory services on optimizing these programs. The true measure of online effectiveness is closing a transaction. Unfortunately, we have observed that closing a transaction is coincidental to online marketing and not a direct correlation. The relationship between an agent and a consumer is akin to dating. Both parties must be attracted to one another. There needs to be a connection and the development of things like trust and confidence. It’s a dating [...]