I have been giving a lot of thought lately to the idea of App Stores in the real estate technology industry and it has raised a number of questions that I want to put out there to inspire a conversation with the industry. Let me say right up front that I am not neutral in this discussion, as I am one of the founders of RE Technology which has, as an Read more...
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(This article ran previously in the WAV Group Newsletter released on Friday. We received feedback that despite our rant, some MLS iPad apps are quote good. If you would like to nominate an iPad app that is great, leave a comment below. It should, at a minimum, offer add/edit capabilities – adding photos would be a home run) Some MLS providers and Associations have heard just about enough excuses when it Read more...
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There is some degree of discussion about the notion that the IDX rules may be expanded to support Embedded Search and Display on websites or displays not under the apparent control of the broker. I believe that this is too risky, too hard to control, and beyond the bounds of IDX as currently discussed. New thinking is needed and proposed herein. The foundation of new thinking is that MLSs may Read more...
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Every agent I know is looking for new opportunities for generating additional revenue. At the same time I hear again and again that many agents are not interested in working on rental properties because there’s “not enough money in it”. Driven by this ambivalence, many MLSs are ignoring the rental market. This perspective is a HUGE mistake, in my view. Let me share some “fun facts” with you to help Read more...
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Rapattoni has long offered Association websites and MLS consumer property search solutions in the markets that they serve. I believe Rapattoni may have been among the pioneering MLS vendors at offering such a solution. Having said that, there has been little attention paid toward innovating the search component of that platform. In the deployment of the new website, Rapattoni and iHomefinder collaborated to deliver an elegant solution. This week, the Read more...
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MLSs have long been a marketing center in some small way. Agents working with buyers and sellers create reports that are organized to provide listing information to clients. The reports are very useful, but aside from the ability to insert a broker logo, agent photo, and contact information, the design of these reports often falls short of achieving the goal of a well-branded and unique marketing piece. Some MLSs have Read more...
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The Minneapolis Association of REALTORS developed a company called 10K a few years ago. The mission of the company is to offer REALTORS outstanding market analytic reports. They have been canvasing the country offering the product through MLSs and REALTOR Associations. Pacific West Association of REALTORS (PWR) is a large and recent new customer for 10K. WAV Group had a Q&A session with Lalaine Castillo, PWR VP Marketing and Communications Read more...
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Point2 announced the granting of a US Trademark for “MLS Certified™”. This comes at a rather interesting time. The Council of MLS is in the midst of doing some branding of its own, but has not announced or launched the program yet. It is on the agenda for the meetings next week in Washington DC. At the last Council of MLS meeting on this topic last year, there were numerous Read more...
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Every MLS and Broker in the country knows how difficult it is to successfully roll out new products to REALTORS®. There are so many technology options out there and it’s so difficult to get a busy agent’s attention. It’s even more difficult to convince them to try out a new service that may help project a more professional image when they are in the throes of trying to conduct business. Read more...
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WAV Group provides consulting services brokers across the country to help them find the most effective ways to leverage the technology tools they have chosen for their agents. Some of those tools are provided by MLSs as part of their monthly subscription fees. In working with brokers we have learned how stressed the life of a broker is. Their agents, clients, accountants and office staff pull them in a million Read more...
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In a press release found below, Onboard announced the launch of Listings 360 insight Advisor. This product is a reporting solution like Listhub Reports, and FREE! However, Listings 360 does not include syndication at this time. The first customer in line to release the product is Chicago multiple listing service provider, Midwest Real Estate Data (MRED). Connecticut MLS (CTMLS) and Metropolitan Regional MLS (MRIS) have also licensed the solution for Read more...
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WAV Group provides consulting services to MLSs and Associations to develop strategies and plans for business success. In working with MLSs and Associations we have learned how difficult it is to help agents and brokers understand the value of new technologies in their daily business. Today, WAV Group is introducing the second in a series of Case Studies developed for NAR’s REALTOR® Property Resource or RPR®. These Case Studies are Read more...
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WAV Group provides consulting services to MLSs and Associations to develop strategies and plans for business success. Today, WAV Group is introducing a series of Case Studies developed for NAR’s REALTOR® Property Resource or RPR®. These Case Studies outline best practices for driving adoption of RPR as a REALTOR® benefit. WAV Group developed these best practices by evaluating RPR “power users” and “power promoters” of the software. Download MLS Case Study. Read more...
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Brokers have been on a rant for the past few years. Online publishers went too far to compel agent and broker advertising on their sites. They pursued rigorous policies that masked the listing agent and listing broker from the consumer. This had three profound effects and led to several types of actions: Removal: In disgust, some brokers retreated from syndication completely (See Edina Realty, Shorewest REALTORS and others) Enhancements: Some Read more...
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At WAV Group, we conduct strategic planning sessions for many of the nation’s largest MLSs. As part of our due diligence we conduct in-depth interviews with many leading brokers and MLS Board members. During these interviews, many tell us how they appreciate the depth and scope of services offered by their MLS. There’s a problem though…many of those we interview have not used the services offered by their local MLS. Read more...
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Note: If you do not have a RE Technology account, please contact April at april@wavgroup.com, and I will be happy to create a complimentary account for you. More than 70 MLSs and Associations offer RE Technology as a free member benefit – contact Melissa@retechnology.com for a program overview. RE Technology wants to support our MLS partners by highlighting articles that peeked the most amount of agent and Read more...
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Today, there are two front-runners in online property search – Zillow and Move. They are both public companies. Falling in line behind them are two private companies, Homes.com and Trulia. Here is how the revenue stacks up on the public companies. Move, Inc., Operators of Realtor.com who is in partnership with AOL Real Estate and MSN real estate for publishing broker listings reported revenue of $47.7 million today. Move did Read more...
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Today’s real estate technology companies are partnering with MLSs at an unprecedented rate. This trend is brought about by natural gravity. The MLS is the primary source of fundamental technology for real estate professionals. WAV Group is beginning to see a number of MLSs pursuing a variety of strategies for offering non-core MLS services. Historically, MLSs only pursued site licenses for technology for their members, paying a price per member Read more...
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Listing Syndication has become one of the more polarizing business topics in the real estate industry. Everyone seems to have a view, and many groups are trying to figure out how to fix it. There is no doubt that some companies are benefiting from syndication, but most find only little or moderate success. We seem to be hitting an inflection point with syndication where a lot of change is about to Read more...
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I am not sure if anyone is allowed to use Apple’s famous App Store name, but lets suffice it to say that the term App Store is familiar to most – so lets use that anyway. The key components of an App Store are Instant delivery, Platform Specific, eCommerce enabled. This is really important to understand because FBS truly is launching the first real MLS App Store. This is different Read more...
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