Navigating the WAVes of Change in 2019
As we end 2018, now is a great time to sit back and reflect on the best ways to help prepare your organization for the inevitable evolutions and revolutions we will experience next year.
Crye-Leike Integrates CRM, Transaction Management, and Accounting
Crye-Leike is the 6th largest real estate company in America, and 3rd largest independent behind HomeServices of America and Howard Hanna[1]. The firm processes over 30,000 transactions a year across their 3200 agents, 125 offices spanning 9 states. Beyond residential real estate, they operate businesses that provide services in commercial real estate, mortgage, Title Insurance, Property and Personal insurance, property management, and relocation. A few years ago, the company embarked on a program to select a transaction management solution and tie it into their accounting system and CRM system. The result is among the most sophisticated and effective solutons deployed anywhere in the nation.
Free Podcast Series from the #1 Ranked Real Estate Agent in the World
Here's a great Holiday gift and it's free: a new, four-part real estate Podcast series that's available today featuring the wisdom and a little wit from Ben Caballero. Ben is the world's #1 ranked real estate agent. He's also the first and only agent in U.S. history ever to exceed the $1 billion mark for residential sales transaction volume in a single year, a feat he has achieved in each of the last three years. At the WAV Group, we've been working with the legendary Ben Caballero and HomesUSA.com for a few years now. We've had the honor of working with him [...]
Realtor® Goes Missing
This is not the tragic story of another Realtor® being attacked. But rather the story of the REALTOR® brand value being attacked. Brad Inman asked a rather productive question on the popular Inman Coast to Coast Facebook group – “How Important is it for a licensed real estate agent to be a member of NAR?” The post invited healthy commentary. Way to go Brad!
Facebook Still Rules Real Estate
Like Mark Twain, the early reports on the death of Facebook clearly have been an exaggeration especially when it comes to real estate. It remains the social media channel that is still the best place to stay top of mind among the greatest number of home buyers and sellers. And it's still the best media channel for real estate agents to keep in front of their peers.
Why are MLSs making it SO hard to innovate?
Our industry needs to find meaningful ways to support new thinking and innovation. I recently put myself in the shoes of a start-up and found out just how difficult it REALLY is to leverage MLS information. We have made it REALLY hard for the smart 16 year old in her garage to build the next big thing for a brokerage. Frankly, even well-established tech companies have major challenges working with more than 600 organizations. Refer to my commonapp article for more on that topic. Let’s put ourselves in the shoes of a tech start-up. They have built something interesting. [...]
Telling Your Data Story – Easy Access to RESO’s Organization Unique Identifier with Microsoft Power BI.
I have been working with the Organization Unique Identifier (OUID) data from the Real Estate Standards Organization (RESO) for over the last nine months. RESO OUID data combined with other data sets for business analysis is critical for today’s enterprising brokerages. My task was to see how I can make it easy for others to access the RESO OUID and incorporate other data for analysis. The answer – Microsoft Power BI.
Adjusting Your 2019 Budget With Economic Data
It is that time of year again when budgeting for next year takes hold of your company. There were a few economic indicators released by First American and by the National Association of REALTORS® which provide some very interesting economic truths that need to be factored into your forecasts – especially when they are factored together. Our advice to brokers and to the technology companies that serve them is to cut fixed costs by 15%.
What’s the Average Age of a Repeat Buyer? The Impact of Longevity Emerges
From the NAR Boston conference, one statistic keeps ringing in my head. As a confessed data junkie, I consume a lot of real estate research, so I'm pretty jaded. But when NAR's research guru Jessica Lautz showed a slide at a press conference entitled “Median Age of Home Buyers,” I almost fell off my chair.
Qualtrics to be Acquired for $8 Billion
Qualtrics is known as one of the leaders in the Online Survey Platform. Many companies in the real estate sector – including RE/MAX in 2013 – have utilized Qualtric's platform to gather informational feedback about services and products from their members, agents, or customers. Qualitrics has been in the process of doing its due diligence for an IPO and someone scooped them up for $8 Billion.
SERVICE: The Real Secret Weapon to Broker Profitability
Our industry loves shiny objects! We’re also looking for the next goose that is going to lay golden eggs at our feet. This year the promise of greatness has been tied to technology investments. From Open Door to Compass to Keller Williams and a whole bunch in-between, brokerages are lining up to claim their rightful place as a technology company.
Your Brokerage Needs to Improve Your Consumer Responsiveness
Sometimes Zillow Group does something that aggravates the industry, like displaying agent reviews. Other times Zillow does things that not only aggravate the real estate industry, but they point to profound best practices that are a roadmap to success. When brokers pay attention, they can learn a lot.