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The WAV Group Report

Issue: 51 August, 2013
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In This Issue
MLS Technology Survey Participants
Revenue Generation Emerges
Become More Relevant with Consumer Research
Top Digital Budgeting Mistakes Brokers Make
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By Mike Audet

WAV 2 Inch LogoWAV Group will be fielding the third annual WAVGroup MLS Technology survey in September.  We are inviting all MLSs to take part.  This is a free, non-sponsored survey we provide for the benefit of the industry.  The more participation we have the more valuable the data will be for everyone. The objective of the annual MLS Technology Survey is to provide a high level comparative satisfaction rating of the MLS technology used in our industry.    Click here to read more!

Contact us now to participate!

By Victor Lund

Stacked pennies

MLSs are for profit entities. They have investors and a board of directors and have a stated goal of providing returns. Normally, the investors in the MLS are the Associations of REALTORS® or brokers that put up the initial funding for the MLS. The MLS was the natural extension of sharing property listings between real estate professionals pre-dating the founding of NAR.

When printed listings were replaced by the electronic MLS, the business model, payment per month by members continued. That model still exists today and is in line with how software as a service (SaaS) is typically delivered across all enterprises.

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By Marilyn Wilson

Houston Mag coverThe real estate industry suffers from what I call the “lowest common denominator” phenomenon. Every one of the business models in the industry – associations, MLSs and brokerages are built on attracting and retaining as many agents as possible.   Many real estate entities collect monies every month from every participant – regardless of their productivity.  While these models each have their own reasons to exist, they have created a major problem in my view.  Real estate organizations are so busy attracting sales professionals that many ignore the needs of the most important group - the customer.  Click here to read more!

By Victor Lund

As summer draws to a close and fall sets upon us, it is incumbent upon all businesses to build their budgets for 2014. The old adage rings true, failure to plan is a plan to fail. Too many brokerages in America are guilty of this. Here are a few tips that will improve the planning process in your company. It is a good idea to print this out and provide it to your team as a reminder.  Click here to read more!

 

Issue: 50 July, 2013
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In This Issue
Broker Website Effectiveness Study
5 Ways to End the MLS/Broker Stand-off
eSignature Webinar
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By Victor Lund

WAV Group, industry leaders of technology, strategic planning, research, business and product development, sales and marketing in the real estate industry, today released a whitepaper entitled “2013 Broker Website Effectiveness Study.” The whitepaper, written by WAV Group, surveyed the Google Analytics accounts of broker websites representing 7,500,000 monthly visitors as the subject for insight on consumers accessing broker websites, and also garnered insights on the impact of social media, mobile, listing syndication and search engines.

Click here to read more!

By Marilyn Wilson

A few weeks ago I wrote a post called the “Challenge for Positive Change” that highlighted many of the relationship dysfunctions we are experiencing in the industry today. At Inman Connect in San Francisco I was invited to be part of a panel called the MLS/Broker Stand-off.  It’s clear that there are many that are feeling as though our industry could be working together much better than it is at the moment.  Click here to read more!

By Marilyn Wilson

WAV 2 Inch LogoAre your electronically signed documents compliant with the laws governing electronic signatures? If you’re not sure, you MUST attend this webinar on August 8, 2013 10:00 pacific/1:00eastern. You will hear from eSignature providers DocuSign and Authentisign, along with Russ Bergeron of MRED, on best practices, what you need to know and how important it is to do your homework.  Click here to read more!

Issue: 49 June, 2013
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In This Issue
Challenge for Positive Change
Company Culture
Share This Listing
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By Marilyn Wilson

road to change

 

I have been reflecting on what I observed at NAR’s Mid-year conference and I have to tell you that I am more than a bit disheartened.

While there is more optimism than there was even a few months ago about the health of the market, there is more dysfunction than ever in “organized” real estate.

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By Mike Audet

WAV 2 Inch LogoIn almost every RFP (Request for Proposal) process I facilitate I get asked the question, which MLS vendor and system is the best?  In every instance I say, it depends, there isn’t a single right system for everyone.  Unlike the waitress who tells you everything is good on the menu, I really am not trying to avoid the question.  I will openly discuss what we see as pros and cons of each system, but the truth is, the vendor that is right for one customer is not going to be right for another. Click here to read more!

By Victor Lund

WAV Group has gained the support of The Realty Alliance and The Leading Real Estate Companies of the world to revisit our Broker Website Effectiveness study performed in 2008. A lot has changed over the past 5 years, but much has remained the same. Our report will be published at the end of the month in advance of the Inman conference in San Francisco.  Click here to read more!

By Marilyn Wilson

hand dropping coinI just watched a fascinating documentary called Consuming Kids highlighting how advertisers are tapping into the ever-growing purchasing power of children under the age of 12. According to the firm, children directly control $40 Billion in spending and indirectly influence over $700 billion in spending.The documentary goes on to talk about how brands are trying to create relationships with kids as soon as they can to create life long relationships. They are trying to create young “super” consumers that will be committed to purchasing their products throughout their lifetime.

Click here to read more! 

 

Issue: 47
April, 2013
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In This Issue
Down Payment Resource Webinar
Managing MLS Conflict
Choosing the Right Mobile Solution
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Join Merri Jo Cowen and John Mosey to learn about: How Leading MLSs Are Winning with Public Service Apps
By Marilyn Wilson

Merri Jo Cowen and John Mosey

 

First-time home buyers are necessary for a healthy housing market, but their needs and behaviors have changed. This group is doing more research in advance of working with an agent, and it’s no surprise that their research is happening online. In fact, real estate related searches on Google.comhave grown more than 200 percent over the past four years, with frequently searched terms like FHA loan, home grants and homebuyer assistance.

Are your MLS core services prepared to serve these buyers?

 

Join MLS leaders John Mosey of NorthstarMLS and Merri Jo Cowen of My Florida Regional MLS on April 16th for a discussion about the most critical home purchase considerations for homebuyers and how public service apps can be integrated to reach your community in a more impactful way.

Click here to read more!

By Victor Lund

On the business-to-business side of real estate, there are entities that cooperate with one another that also compete with one another. A common term for this in modern business management is a neologism called coopetition. Brokers competing against each other participate together in the MLS to share information and offer of compensation; and may be related to the same franchise.  Click here to read more!

Tips on Choosing the Right Mobile Solution For Your MLS
By Mike Audet

Mobile MLS For years now our industry has talked about how mobile devices will soon be the primary device used by agents in their day-to-day business.   We have been waiting for our MLS vendors to introduce cutting edge mobile products that would allow this vision of our future to become real.  Advances in mobile are coming, however, not all MLS vendors have kept pace  There has been progress and some solutions are better than others but the reality is, because MLS vendors were slow to provide really compelling mobile solutions, 3rd party mobile vendors saw an opportunity and filled the void.  It is very similar to the situation we saw in 2005 when Zillow n Truila recognized a huge consumer need with the realization that organized real estate wasn’t doing anything to fulfill it.  Today those 3rd party vendors own that space.  The same thing may be happening with mobile today and MLSs that are looking at upgrading their MLS systems are wise to evaluate all mobile options not just the ones offered by their chosen MLS vendor. Click here to read more!

 

 

Issue: 46 March, 2013
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In This Issue
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Brazil – Ready for MLS?
Embracing the rental lifecycle
Remembering Pat Bybee
Brokers Harvesting Business
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Managing Your Training Department
By Victor Lund

Training, support, and customer service are key features to any organization in real estate. Although these are three separate functions in large organizations, they typically are handled by one or two departments in most real estate organizations. For the purpose of this article, we will discuss this as one department, Training.
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By Mike Audet

Over the last year I have had the pleasure of working with a very talented and visionary team of business people in Brazil, who realize it is time to take real estate in Brazil to the next level.  Today, like much of the world, buying and selling real estate in Brazil is a frustrating, fragmented affair, where sellers always feel they have not reached the right buyer and sold their property for too little and sellers always feel they have not seen the right property to buy and, of course, they worry they paid too much.  Why? Because in Brazil there is no MLS, until now, and every real estate broker and agent is an island. Click here to read more!

By Marilyn Wilson

If you visit any of the large third party property search sites today you will see a significant focus on the rental market. In most cases, rentals are now getting just as much focus as residential sales.  A few months ago Zillow purchased Rentjuice again underlines the growing importance of the rental market. They paid $16mm for the company to take advantage of its younger, renter focused 2.8 million viewers. Click here to read more!

Remembering Pat Bybee
By Mike Audet

All of us at WAV Group want to acknowledge our friend and colleague, Pat Bybee who was taken from us recently in a tragic car accident. Our prayers and sincere condolences go out to her family.  Pat will be missed by all that know her. Click here to read more!

Brokers Harvesting Business From Their Data
By Victor Lund


Real estate brokerages are way behind in the curve of excellence in lead management. This report is not about best practices of routing leads to agents, it is focused on measuring lead quality, and appending lead information with business intelligence that will convert more leads to drive more revenue.
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Download the report instantly here!