November 2009

2009 CMLS Benchmarking Survey Results

by THE WAV GROUP on November 30, 2009

In September 2009 the Council of Multiple Listing Services (CMLS) and WAV Group reached out to the entire MLS community for the second year to gather insights about a variety of elements of MLS operations.  The goal of the survey was to provide each MLS with a benchmark to compare its operation to. When considering the addition of new services or programs, MLSs throughout North America can refer to the report to help evaluate service offerings relative to MLSs around the country. The survey was completed by 115 MLSs around North America representing approximately 750,000 REALTORS.  The respondents represent a diverse sample of geographies and sizes. The insights shared foreshadowed many of the risks and opportunities facing MLSs over the next several years. Download the full paper here.  

{ 0 comments }

Most Home Sells KURIO Division

by THE WAV GROUP on November 20, 2009

Most Home Corp. (OTC Bulletin Board: MHME), today announced it has entered into a non-binding letter of intent (“LOI”) with Yaletown Capital Corp. (“Yaletown”), which sets out the general terms and conditions of the proposed acquisition by Yaletown of 100% of the assets, intellectual property, trade secrets, key employees, contracts in place, contracts pending or under discussion with unrelated potential customers, business receivables and physical assets owned or used on a regular basis in relation to the Wireless Platform, subject to an independent appraisal to confirm the value of the assets, (collectively, “Kurio®” the acquisition of which are referred to as the “Acquisition”) from Most Home or its subsidiaries or business groups. Upon completion of the Acquisition, Yaletown shall directly or indirectly own a 100% interest in and title to Kurio® subject to any explicitly agreed encumbrances. Yaletown, as part of the Acquisition, will apply for full listing of the common shares of the Resulting Issuer on the Exchange (the “Listing”), concurrently with the completion of the Acquisition. Together the Acquisition and the Listing are collectively referred to as the “Qualifying Transaction”. Upon completion of the proposed transaction, Most Home Corp. will hold 50.3% of the common voting shares of Yaletown Capital Corp. through its wholly owned subsidiary, Most Home Real Estate Services Inc. Ken Galpin, CEO and director of Most Home, stated that, “We are very pleased to enter into this transaction with Yaletown Capital Corp.

{ 0 comments }

Listing Syndication – Be sure to read the fine print

by THE WAV GROUP on November 10, 2009

Listing Syndication

After CMLS, there was a groundswell of discussion about the rights brokers are giving up when they send their listings to third party websites.  WAV Group went to school on the terms and conditions of several of the leading third party websites.  We were specifically focused on the rights to display, distribute and maintain listing data. We learned that in some cases the the broker is transferring the irrevocable, perpetual, non-exclusive, fully paid, royalty-free license to use, retain, transmit, copy, create derivative work of, sell, or distribute the broker’s listing data to other parties or sub-licensees.  Bottomline, brokers are giving away rights to their listings they may not be aware of. We also learned that all third party listing sites are NOT created equal. WAV Group has researched this issue and produced a white paper on the topic that has been designed to help brokers ask the right questions before they syndicate their listings.Click here to download.  

{ 1 comment }

Real Estate CRM Company seeks venture partner

by THE WAV GROUP on November 7, 2009

For the past four years, Technology Concepts, a veteran MLS provider, has been developing a Customer Relationship Management product for the real estate industry.  The company has leveraged their experience serving MLSs, brokers and agents to architect and build one of the industry’s most advanced enterprise level CRM solutions. The product, named Eventus, is operational, installed and has realized outstanding results for the first tier users.  Now that the product is ready for full deployment into the market place, the company is seeking a business partner to fuel marketing and fulfillment.  The company will consider options from company or product sale to an exclusive licensing relationship.   Interested parties should contact WAV Group, attention Mike Audet (mike@wavgroup.com, 716-839-4628) for more information. About the product. Eventus is a web-based information management system that introduces a new client-centric paradigm in real estate technology. Eventus manages the client process from initial contact to maintaining meaningful contact after the sale.  Using listing and client data to the fullest, Eventus allows the executive and agent to understand and analyze buyer/seller behavior and needs. Eventus gathers data, analyzes it, and delivers information to constituents at all levels of the home buying and selling process. In the process, Eventus provides an elegant, branded tool set that allows the broker and agents to deliver customer services above the competition! The benefits extend across the entire company. Brand executives – gain access to real time analytics that report 1 current and historical data, and predict future trends for franchisees, agents, consumers, competition, and the market. Company managers – receive real time and market intelligence about the company, its agents, consumers, and competitors. Best practices analysis tools help managing brokers train and coach their agents. Real estate agents – have access to branded, elegant, client-centric technology, client analytics, and superior listing tools to better serve their clients’ needs and simultaneously be more productive. With tools that range from current and historical market performance in the specific segments, to interactive listing tools, agents now have the ability to provide 24/7 service that puts them a step above their competition. Home buyers and sellers – stay informed and connected to their agent with real-time information via superior web tools that match the demands of today’s consumer for transparency and communication.

{ 0 comments }

Social Media influence on purchasing

by THE WAV GROUP on November 6, 2009

social media influence

As REALTORS move their marketing and customer contact strategies to social media, it is important not to neglect the trusted and proven offline networking.  This study by Parenting Magazines shows that lots of moms are engaged in social networking, but making many of thier product decisions based upon offline relationships. NEW YORK (AdAge.com) – Technology’s influence is widely assumed to have morphed the over-the-fence backyard chat into mommy blogs and Twitter networks. But when moms are seeking product advice, it’s not all social-media all the time. A study due out next week from the Parenting Group found that while moms are avid web and social-media users, they still turn to family and friends first, whether by phone, e-mail or in-person, when making decisions about product purchases. And marketers targeting moms would be wise not to give up on that backyard fence just yet: Moms are four times more likely to go to their personal offline network than online social networks for product recommendations and buying advice. Open to conversations The survey, conducted via Parenting’s MomConnection online research panel, found 23% of moms use Twitter, but only 3% are using it for product information. A whopping 81% of moms use Facebook, but again only 24% use it for product information. “Regardless of which social network they use, only a small minority said they use those social networks for product information,” said Nancy Hallberg, chief strategy officer of the Parenting Group. “[But] the interesting thing is that moms are very open to having conversations online with marketers, they just want to have them on their own terms.” The study found that more than 80% of moms visit a brand’s website for information and 65% have signed up for newsletters from brands. That is, they are usually seeking information from brands directly, rather than looking for a social interaction with brands on a third-party social site. First and foremost, social “It’s not that you’ve got to be in their social conversations. Social networks are first and foremost social,” Ms. Hallberg said. “If they’re on a social network, looking at pictures, being entertained or looking at friends’ videos, they’re saying [to us] ‘I’m not in the mood to have a conversation about a product. But when I am in the mood, I’ll go directly to that marketer.’” The Parenting Group study jibes with other market researchers’ findings. BabyCenter’s recent 21st Century Mom Report found […]

{ 0 comments }

Attention Executive Real Estate Women!

by THE WAV GROUP on November 4, 2009

afire 52

Be sure you set aside money in your budget for the 2010 AFIRE Conference!   It is the most fun and fulfilling conference of the year for female executives in real estate. AFIRE of Awesome Females in Real Estate is a group that is four years old that was formed to provide an educational and networking opportunity for the women who are usually coaching everyone elsso, so they need their own outlet for learning and recharging their batteries. Here’s what Anne St. Dennis from the Montreal Real Estate Board said about her first expeirience at the AFIRE conference: I came back from my first AFIRE Conference totally refreshed and renewed in my work as well as in my personal life. I met and will stay in touch with many wonderful ladies all of whom have tough,demanding positions and look to unique conferences like AFIRE to provide some direction, relevant content and life changing experiences. Aside from appreciating my new business friends, I was exposed to interesting ideas and sessions in a very intimate setting. The number of delegates, what with AFIRE hosting somewhat of a smaller group, is a real plus. The smaller numbers make it much easier getting to know like-minded people and as well, helped us all to truly focus on the business at hand, including the sessions and panels which were absolutely fascinating and timely as well. If I was to give AFIRE a score, it would be 10 out of 10! – Anne St. Dennis, CAE Manager, Communications, Industry Relations, Legal Affairs Greater Montreal Real Estate Board   I hope you will join Anne, myself and many others at the 4th Annual conference to be held April 21st – April 23rd in Scottsdale, Arizona. Register today here:  

{ 0 comments }

Real Estate Agents and Brokers have long been subjected to unfair competition from thrid party listing websites that are able to aggregate listing data across multiple MLS markets.  The rules for displaying MLS listings on Agent and Broker websites require the Agent or Broker to be a member of each MLS to acquire the IDX data feed.  Progressive thinking among Brokers and MLSs along the Southeastern Seaboard of America led to the creation of the Carolina Data Share or CDS.  This service paves the way for a member of any of the participating MLS to enjoy data from all of the participating MLS in the program.  The effect is the opportunity for agents and brokers to display listings from a much wider regional area that crosses multiple MLS boundries to create the most accurate and comprehensive search available in the region.  If you think that this is an emerging new trend, please leave a comment below – expecially if your MLS has a similar aggregation of IDX data across multiple MLSs available. PRLog (Press Release) Nov 03, 2009 Cary, N.C. North Carolinas six largest multiple listing service (MLS) organizations from the mountains to the coast, including Asheville, the Charlotte region, the Triad, the Triangle, Wilmington and Brunswick County, have launched a program to share active real-estate listing information for display on brokerage Web sites. The program is called Carolina Data Share (CDS). CDS aggregates MLS active listing information.  Any real estate broker who participates in any one of the six MLSs can display listing data from all six MLSs on his or her personal Web site.  The program provides the database of information but brokers choose whether to display it. CDS has the most comprehensive selection of active real-estate listing information available in the state.  Buyers benefit because they will have access to more listings and listing information.  Sellers benefit, too.  Unless a broker or seller opts out of the program, his or her listings can appear on the Web sites of thousands of brokers and agents. CDS gives brokers the ability to compete against Web sites of national aggregators, which claim to be comprehensive sources of listing information. CDS has selected WolfNet Technologies to standardize and host its data. Joel MacIntosh, WolfNets CEO, says, “We applaud the CDS member MLSs for their insight, innovation, and cooperative spirit in making this project a reality for their members.” All other MLSs in […]

{ 0 comments }

Green is the new Luxury

by THE WAV GROUP on November 2, 2009

edelman

For years, many in real estate have established their marketing around niches.  Chief among them is the development of Luxury Home marketing.  New Research released by PR firm Edlemansuggests that Eco-Frienddly is replacing Luxury as a preference for consumers.  Here is a summary from their research provided by Marketing Charts. More than twice as many global consumers say they would rather drive an eco-friendly car (67%) than a luxury car (33%), and an even larger percentage would prefer to live in an eco-friendly house (70%) vs. merely a big house (30%), according to results from this years goodpurpose study, conducted by PR firm Edelman. These results, Edelman said, indicate that the global tide of conspicuous consumption is turning away from traditional status symbols of the past and moving toward products and brands that support sustainability. Protecting the environment, improving healthcare and reducing poverty are the causes that global consumers care about most.  See Chart on the left. In keeping with this sentiment, 68% of consumers now think its becoming more unacceptable not to make noticeable efforts to show concern for the environment (82% in China) and live a healthy lifestyle (87% in China). Local vs. Designer Brands Sentiment also appears to be moving away from well-known national and international designer brands in favor of supporting local businesses and products. While 69% globally would rather have a brand that supports the livelihood of local producers than a designer brand (31%), North American and most European countries in the study – as well as Brazil – more overwhelmingly prefer supporting the livelihood of local producers, each indicating more than 80% preference.  Sounds like a good thing for local real estate. Eco-Friendly Despite Recession Study results indicate that despite the recession, 61% of global respondents have purchased a brand that supports a good cause – even if it wasnt the lowest-priced brand, 64% would recommend a brand that supports a good cause, and 63% are looking to brands and companies to make it easier for them to make a difference. Another 57% of consumers say a company or brand has earned their business because it has been doing its part to support good causes. Asian countries China (85%) and India (84%) had the highest scores in this area, the survey found. Additional findings about brand preference: 67% of consumers say they would switch brands if another brand of similar quality supported a good cause. These numbers […]

{ 0 comments }

You team is only as strong as its weakest link

by THE WAV GROUP on November 1, 2009

A417JK

MLSs and Associations are very lucky.  Generally they have loyal staffs that have worked together for many years.  Turnover is rare.  All of that can lead to cohesive teams that work well together, especially in crisis times. It also means they know the subscribers well and the customers know them too. That’s the good news.  The bad news is that it can sometimes lead to stagnation. 

{ 0 comments }