When RE Technology was founded by WAV Group partners in 2010, the goal was to provide an information resource inside the MLS system that would sharpen agent understanding of technology in real estate. We will forever appreciate MRED, MRIS, MLSListings, and MFRMLS for introducing the first 100,000 users to the service. Today, 91 MLSs and over 700,000 users have access to RE Technology as a member benefit. Because technology companies sponsor the service, there is never charge to the MLS or the broker or agent.
The concept behind RE Technology is to support MLSs at delivering insightful information about technology that allows real estate professionals to make the best possible choices when purchasing solutions for their business. When it comes to real estate technology – websites, CRM solutions, digital signatures, IDX providers, virtual tour providers, and so many other solutions, the array of vendors is confusing. RE Technology makes learning about technology easy, and combines user ratings, product overviews, product descriptions, press releases, and company contact information all in one place.
It was our belief in 2010 that social media, blogs, and rss feeds would take over the MLS newsletter as a primary method for communications. In some ways it has, but the MLS newsletter continues to endure. The RE Technology newsletter is MLS branded for every market. It is part of our localization strategy that organizes information for each MLS. For example, products offered as member benefits or premium MLS services are highlighted for the agent. RE Technology also informs the broker or agent if products requiring data have an active IDX or VOW data license in the market. We also include any information in the newsletter that the local MLS would like us to include. Moreover, MLSs can republish any articles or other information on RE Technology for other communications, like MLS customer magazines. For example, many MLSs are picking from the hundreds of articles about RPR to educate REALTORS on that new member benefit.
Today, RE Technology sees about 40,000 daily visitors to the site. We also send out just under 57,000 emails a day. The open rate on those emails is about 22%, and the click though rate is about 50%. Apparently, article headlines play a significant role in open rates and click through rates. The hottest topics in the industry today are How to Use an iPad in Real Estate for listing presentations (CMAs) and Transaction management.