WAV Group http://waves.wavgroup.com/ Real Estate Consulting, Real Estate Speaking, Real Estate Research, Real Estate Survey, MLS Consulting, Real Estate Broker Consulting, Real Estate Association Consulting, Real Estate Technology Consulting en-US http://blogs.law.harvard.edu/tech/rss 60 The Starfish and the Spider http://waves.wavgroup.com/the-starfish-and-the-spider Thu, 09 Sep 2010 14:30:22 -0400 Victor.Lund Main category 18932@/ I just read a great book that I would suggest others read called The Starfish and The Spider, The unstoppable power of leaderless organizations by Ori Brafman and Rod Beckstrom (available everywhere including the ipad). The book starts out by providing a chronicle of how science thinks the brain works. We have learned over the years that memories are not stored in one spot, but all over the brain - much like information indexed by Google is located all over the internet. As much as scientists wanted to hind heirarchy in the brain, it was not there - which makes the brain much more resilient. Move this concept over to the online information industry and you have Napster, or Craigslist, or Skype - perhaps this is also true of real estate listings, which experts argue are "every where" today. Here is what else I picked up from the book that may encourage your reading interests.Read more » The starfish and the spiderI just read a great book that I would suggest others read called The Starfish and The Spider, The unstoppable power of leaderless organizations by Ori Brafman and Rod Beckstrom (available everywhere including the ipad).

The book starts out by providing a chronicle of how science thinks the brain works. We have learned over the years that memories are not stored in one spot, but all over the brain - much like information indexed by Google is located all over the internet. As much as scientists wanted to hind heirarchy in the brain, it was not there - which makes the brain much more resilient.

Move this concept over to the online information industry and you have Napster, or Craigslist, or Skype - perhaps this is also true of real estate listings, which experts argue are “every where” today. Here is what else I picked up from the book that may encourage your reading interests.

Read more »Read more »]]> http://waves.wavgroup.com/the-starfish-and-the-spider#comments Learn from Mike Wise's Mistakes - Think before you Twitter http://waves.wavgroup.com/learn-from-mike-wisea-039-s-mistakes-think-before-you-twitter Tue, 07 Sep 2010 13:48:58 -0400 Marilyn.Wilson Main category 18931@/   We can learn from Mike Wise's mistake As we engage in Twitter, Facebook, Linkedin and blogging, we have all become journalists.  Most of us have never been trained in the "rules" of journalism. We haven't been trained on the code of ethics for journalism. When we get in to Twitter, it sometimes feel like we're all by ourselves and nobody really ties our posts back to our "real" lives.   NOT TRUE - just ask Mike Wise, sports reports from the Washington Post.  He created a false post about an athlete in his Twitter Account as an "experiment".  He deliberately posted a false story just to see what major news sources would pick it up. His plan was to post the false story, then quickly create another post that would dispel the myth and make the first post a joke. The only problem was Twitter was over capacity and thus the second post never made it to print. Read more »

We can learn from Mike Wise’s mistake

As we engage in Twitter, Facebook, Linkedin and blogging, we have all become journalists. Most of us have never been trained in the “rules” of journalism. We haven’t been trained on the code of ethics for journalism. When we get in to Twitter, it sometimes feel like we’re all by ourselves and nobody really ties our posts back to our “real” lives.

NOT TRUE - just ask Mike Wise, sports reports from the Washington Post. He created a false post about an athlete in his Twitter Account as an “experiment". He deliberately posted a false story just to see what major news sources would pick it up. His plan was to post the false story, then quickly create another post that would dispel the myth and make the first post a joke. The only problem was Twitter was over capacity and thus the second post never made it to print.

Read more »Read more »]]> http://waves.wavgroup.com/learn-from-mike-wisea-039-s-mistakes-think-before-you-twitter#comments Discover MLS Takes MLS System Designed for CAR/CALREDD Product National http://waves.wavgroup.com/discover-mls-takes-mls-system-designed-for-car-calredd-product-national Wed, 01 Sep 2010 07:52:15 -0400 Mike.Audet Main category MLS Insights 18930@/ Bret Wiener, one of the former founders of Concentric MLS, announced today in the following press release that the software originally built for the CAR/CALREDD initiative is now being offered on a national basis through his new company, Discover MLS.  Discover MLS has already made a significant impact on the MLS industry with its introduction of a Web 2.0 solution, designed on Adobe Flash®.  Other major vendors obviously took notice as they are in the process of developing new MLS versions that allow them to offer similar features such as the multi-tasking session features offered by Discover MLS.   Read full Press ReleaseRead more »

Bret Wiener, one of the former founders of Concentric MLS, announced today in the following press release that the software originally built for the CAR/CALREDD initiative is now being offered on a national basis through his new company, Discover MLS. Discover MLS has already made a significant impact on the MLS industry with its introduction of a Web 2.0 solution, designed on Adobe Flash®. Other major vendors obviously took notice as they are in the process of developing new MLS versions that allow them to offer similar features such as the multi-tasking session features offered by Discover MLS.

Read full Press Release

Read more »Read more »]]> http://waves.wavgroup.com/discover-mls-takes-mls-system-designed-for-car-calredd-product-national#comments Roost exits the third party portal business http://waves.wavgroup.com/roost-exits-the-third-party-portal-business Tue, 31 Aug 2010 10:42:25 -0400 Victor.Lund Main category 18929@/ Roost is officially dropping their web portal business, and its a shame. There were only three companies who offered a national portal for property search that used IDX listings as its foundation: REALTOR.com, cyberhomes.com, and Roost.com. As you may know, Cyberhomes transferred many of their company assets to RPR last year and announced that they were exiting the portal business. They announced the sale of the domain name to Lisitngbook this year. Guess the last one standing is REALTOR.com. Here is the roost announcement   We are reaching out to inform you of some changes that will take place at Roost.com. Starting on September 1st, Roost will discontinue its home search business at Roost.com. This change will mean that any alerts you have set will stop. Roosts new products and services will focus on providing tools for real estate professionals to build business using social networks like Facebook.  You can see our new social marketing tools offering here. We have enjoyed providing you with a home search, and we hope the experience has made your buying process easier. We apologize for any inconvenience this announcement might have caused and wish you success in your home search.   tree houseRoost is officially dropping their web portal business, and its a shame.

There were only three companies who offered a national portal for property search that used IDX listings as its foundation: REALTOR.com, cyberhomes.com, and Roost.com. As you may know, Cyberhomes transferred many of their company assets to RPR last year and announced that they were exiting the portal business. They announced the sale of the domain name to Lisitngbook this year. Guess the last one standing is REALTOR.com.

Here is the roost announcement

We are reaching out to inform you of some changes that will take place at Roost.com. Starting on September 1st, Roost will discontinue its home search business at Roost.com. This change will mean that any alerts you have set will stop.

Roosts new products and services will focus on providing tools for real estate professionals to build business using social networks like Facebook. You can see our new social marketing tools offering here.

We have enjoyed providing you with a home search, and we hope the experience has made your buying process easier. We apologize for any inconvenience this announcement might have caused and wish you success in your home search.

]]> http://waves.wavgroup.com/roost-exits-the-third-party-portal-business#comments Point2 Technologies National Real Estate Confidence Index (RECI) Survey says confidence is still low http://waves.wavgroup.com/point2-technologies-national-real-estate-confidence-index-reci-survey-says-confidence-is-still-low Thu, 26 Aug 2010 13:41:32 -0400 Mike.Audet Main category 18928@/ <p>http://www.wavgroup.com</p>  NEWS RELEASE U.S. Broker and Agent Forward Looking Confidence Hits New Low in August According to Point2 Technologies National Real Estate Confidence Index (RECI) Survey 7.23% drop in sentiment pushes Index below the median level for first time  Indicates possible further homes sales downside ahead Saskatoon, SK and Vancouver, BC August 25, 2010 Real estate professionals surveyed for Point2 Technologies ("Point2") monthly national Real Estate Confidence Index ("RECI") continued to exhibit concern over the future of the market, in August, and sent the Index below the median of 5.0 on the RECI scale of 1 10 (1 being "Bad" and 10 being "Good"), for the first time since Point2 launched the forward looking sentiment barometer in June 2009. The RECI averaged 4.87 in the August survey on the 1 10 scale, a drop of 7.23 percent versus the July reading, and a new record low. Year Over Year (YOY), the drop represents a 17.18 percent decline in confidence. As a forward looking real estate market barometer, a negative RECI score indicates real estate brokers and agents currently expect further downside in home sales. The prior RECI low was recorded last month, when the Index reading came in at 5.24 out of 10, a drop of 8.85 percent versus June.  On a seasonally adjusted basis, Current Market Conditions, one of the RECIs three key variable components, dropped to 4.35 in August, on the 1 10 scale, or 6.85 percent below the July reading. The 3 6 month Short Term Optimism/Pessimism outlook gauge also ended below the 5.0 median for the first time, to 4.66 on the 1 10 scale, 8.09 percentage points versus last month. Long Term Optimism/Pessimism ( 12 18 months), the RECIs third key component, remained in relatively stronger territory above the 5.0 median. However, the variable also recorded a new low, sliding to 5.60 (-6.67%) on the 1 10 scale. The average of all three variables makes up the RECI score for the month. Concern over increase in real estate inventory was played back by RECI survey participants virtually in every state in the US and was a key issue blamed for continued downward pressure on the market along with the lack of buyer incentives, a bleak employment outlook and lending difficulties. Real estate professionals in a number of states however remained optimistic. Some survey respondents in California (San Diego), Hawaii, Michigan, North Carolina and Utah felt that the market was holding up well in the face of increasing foreclosures, and in some cases improving, albeit in a declining market, with prices showing some stabilization. Lack of inventory in San Diego was seen as an issue by one of the real estate agents upbeat on the market, while a counterpart in Hawaii saw a positive upswing in home sales as an indication that "the bottom might be in". One North Carolina agent highlighted the expected entry of some major employers to the area as a future business driver and reason for an optimistic outlook. In Mississippi, an agent reported never having been as busy. Bank owned properties and foreclosures however remained a major issue respondents around the country felt may also be intensifying. Layoffs and concern over potential tax increases also kept a number of survey participants cautious about the future. In Florida and Mississippi, several agents pointed to the BP oil spill as yet another cause for slower sales. 1055 brokers and agents from the Point2 Agent (www.Point2Agent.com) user community completed the survey in August. For respondent commentaries and RECI readings per state, along with national data archives, please visit www.realestateconfidenceindex.com. RECI Survey Instrument and Methodology The Real Estate Confidence Index (RECI) is a predictive market barometer that tracks the real estate market opinions of tens of thousands of licensed real estate professionals, brokers and agents, across the United States, accounting for seasonality, on a scale of one to ten (1 being "bad" and 10 being "good"). The RECI also rates respondent sentiment for market conditions 3 6 months and 6 12 months into the future on a ten-point scale (1 being "pessimistic" and 10 being "optimistic"). The median across all three time periods represents the Index measure for the month. The RECI is open to the Point2 Agent membership and to tens of thousands of additional licensed real estate professionals across the nation at the beginning of each month. Respondents complete a simple, four  question survey through third party survey solution providers, Survey Monkey. The data is tabulated electronically, median averages surfaced for quantitative questions, and qualitative feedback and respondent commentaries are captured and presented in Point2s monthly RECI Summary at www.RealEstateConfidenceIndex.com. About Point2 Technologies Inc. Point2 Technologies (www.Point2.com) provides inventory management and online marketing software solutions to the real estate and heavy equipment industries across 120 countries.  More information about Point2 can be found at www.Point2.com. For ongoing news about Point2, please visit www.point2.com/news.asp. Point2® is a trademark of Point2 Technologies Inc. All other company and product names may be trademarks of the respective companies with which they are associated. Media Contact and Resources: -          RECI Widget updated dynamically each month: www.realestateconfidenceindex.com -          A complete spreadsheet of RECI respondent commentaries for specific states: info@reci.com -          High resolution graphics from the RECI website: info@reci.com   For questions or to request an interview, please contact Roger Noujeim at rnoujeim@point2.com or at 888-955-7900. Custom data, graphics and charts featured on the RECI website can also be obtained in high resolution, upon request.     http://www.wavgroup.com

NEWS RELEASE

U.S. Broker and Agent Forward Looking Confidence Hits New Low in August According to Point2 Technologies National Real Estate Confidence Index (RECI) Survey

7.23% drop in sentiment pushes Index below the median level for first time Indicates possible further homes sales downside ahead

Saskatoon, SK and Vancouver, BC August 25, 2010 Real estate professionals surveyed for Point2 Technologies ("Point2″) monthly national Real Estate Confidence Index ("RECI") continued to exhibit concern over the future of the market, in August, and sent the Index below the median of 5.0 on the RECI scale of 1 10 (1 being “Bad” and 10 being “Good"), for the first time since Point2 launched the forward looking sentiment barometer in June 2009.

The RECI averaged 4.87 in the August survey on the 1 10 scale, a drop of 7.23 percent versus the July reading, and a new record low.

Year Over Year (YOY), the drop represents a 17.18 percent decline in confidence.

As a forward looking real estate market barometer, a negative RECI score indicates real estate brokers and agents currently expect further downside in home sales.

The prior RECI low was recorded last month, when the Index reading came in at 5.24 out of 10, a drop of 8.85 percent versus June. On a seasonally adjusted basis, Current Market Conditions, one of the RECIs three key variable components, dropped to 4.35 in August, on the 1 10 scale, or 6.85 percent below the July reading.

The 3 6 month Short Term Optimism/Pessimism outlook gauge also ended below the 5.0 median for the first time, to 4.66 on the 1 10 scale, 8.09 percentage points versus last month.

Long Term Optimism/Pessimism ( 12 18 months), the RECIs third key component, remained in relatively stronger territory above the 5.0 median. However, the variable also recorded a new low, sliding to 5.60 (-6.67%) on the 1 10 scale.

The average of all three variables makes up the RECI score for the month.

Concern over increase in real estate inventory was played back by RECI survey participants virtually in every state in the US and was a key issue blamed for continued downward pressure on the market along with the lack of buyer incentives, a bleak employment outlook and lending difficulties.

Real estate professionals in a number of states however remained optimistic. Some survey respondents in California (San Diego), Hawaii, Michigan, North Carolina and Utah felt that the market was holding up well in the face of increasing foreclosures, and in some cases improving, albeit in a declining market, with prices showing some stabilization.

Lack of inventory in San Diego was seen as an issue by one of the real estate agents upbeat on the market, while a counterpart in Hawaii saw a positive upswing in home sales as an indication that “the bottom might be in". One North Carolina agent highlighted the expected entry of some major employers to the area as a future business driver and reason for an optimistic outlook. In Mississippi, an agent reported never having been as busy.

Bank owned properties and foreclosures however remained a major issue respondents around the country felt may also be intensifying. Layoffs and concern over potential tax increases also kept a number of survey participants cautious about the future.

In Florida and Mississippi, several agents pointed to the BP oil spill as yet another cause for slower sales.

1055 brokers and agents from the Point2 Agent (www.Point2Agent.com) user community completed the survey in August.

For respondent commentaries and RECI readings per state, along with national data archives, please visit www.realestateconfidenceindex.com.

RECI Survey Instrument and Methodology

The Real Estate Confidence Index (RECI) is a predictive market barometer that tracks the real estate market opinions of tens of thousands of licensed real estate professionals, brokers and agents, across the United States, accounting for seasonality, on a scale of one to ten (1 being “bad” and 10 being “good"). The RECI also rates respondent sentiment for market conditions 3 6 months and 6 12 months into the future on a ten-point scale (1 being “pessimistic” and 10 being “optimistic"). The median across all three time periods represents the Index measure for the month.

The RECI is open to the Point2 Agent membership and to tens of thousands of additional licensed real estate professionals across the nation at the beginning of each month. Respondents complete a simple, four question survey through third party survey solution providers, Survey Monkey. The data is tabulated electronically, median averages surfaced for quantitative questions, and qualitative feedback and respondent commentaries are captured and presented in Point2s monthly RECI Summary at www.RealEstateConfidenceIndex.com.

About Point2 Technologies Inc.

Point2 Technologies (www.Point2.com) provides inventory management and online marketing software solutions to the real estate and heavy equipment industries across 120 countries.

More information about Point2 can be found at www.Point2.com. For ongoing news about Point2, please visit www.point2.com/news.asp.

Point2® is a trademark of Point2 Technologies Inc. All other company and product names may be trademarks of the respective companies with which they are associated.

Media Contact and Resources:

- RECI Widget updated dynamically each month: www.realestateconfidenceindex.com

- A complete spreadsheet of RECI respondent commentaries for specific states: info@reci.com

- High resolution graphics from the RECI website: info@reci.com

For questions or to request an interview, please contact Roger Noujeim at rnoujeim@point2.com or at 888-955-7900. Custom data, graphics and charts featured on the RECI website can also be obtained in high resolution, upon request.

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