Strategic Planning
The WAV Group PRO Plan is a comprehensive strategic planning process which helps an organization uncover major opportunities for improvement and then build and execute action plans to achieve these breakthroughs.
In order for a strategic plan to be effective, it needs to incorporate both internal and external perspectives. It needs to examine the Association’s strengths and weaknesses from the perspective of the internal staff and members as well as home buyers and sellers. In addition, it needs to compare the organization relative to broader market trends observed from similar associations within the real estate industry and overall real estate industry market trends. The Pro Plan process provides tools that broaden the scope of the examination of issues within your Association to be sure you can become aware of best practices in order to dramatically improve the performance of your organization.
For Real Estate Associations, the WAV Group PRO Plan is the only strategic planning process with an emphasis on action. The PRO Plan has been designed to help ensure association goals are not just articulated, but actually accomplished.
Unlike many strategic planning processes which only help outline a list of goals, the WAV Group process takes it several steps further. The WAV Group Strategic Planning process is a process, not an event. We stick with you throughout the year, helping you stay on task to achieve and exceed your goals. We work with you and your staff to outline annual goals which are measurable. Next we train participants in the process on how to translate association goals into measurable action plans for their respective responsibility areas. We help you set quarterly goals and coach your team to build and execute action plans.
At the end of each quarter, WAV Group works with you to review results versus the quarterly goals that were set. After reviewing progress, we then work with you to set goals for the following quarter.
At the end of the year, we will work with you to prepare a year end performance summary relative to the annual and quarterly goals set. This report can then be shared with board leadership and association membership to help them understand the benefits you have provided to them.
Please contact us for more information about the WAV Group PRO Plan strategic planning services.
How Listhub’s Real Estate Network Works
01-17-2012
It is not uncommon for detailed questions to arise whenever there is major change afoot in the real estate industry regarding data. Listhub’s announcement of the launch of the Real Estate Network precipitated many questions regarding a broker’s ability to manage and control websites that display their data. The Listhub Real Estate Network includes the opportunity for any broker to publish listings on Century 21, Coldwell Banker, RE/MAX, and the Realty Executives websites. WAV Group has researched this topic of the Real Estate Network with Read more...
Real Estate Digital to build new MLSLI Consumer Website
01-11-2012
Although Real Estate Digital is a new brand in the real estate industry, the management and owners of the company are industry vetrans whose consumer website prowess dates back to the first consumer property search solutions. Real Estate Digital was formed when former LPS company executives formed the new company with assets acquired from LPS early in the fourth quarter of 2011. Since Real Estate Digital began standing on its own, they have shown a remarkable, albeit somewhat predictable ability to transition customers over to Read more...
MOVE launches the Real Estate Network for Franchises
Franchise Networks have taken the first step to declare their independence from the MLS rules and regulations, and third party listing websites. Today MOVE, operators of REALTOR.com and the Listhub listing syndication network, announced that they have created a data sharing solution called the Real Estate Network. Participant in the network include the two largest REALOGY networks of Century 21 and Coldwell Banker along with Realty Executives and RE/MAX. Under the terms of the agreement, the four participating Franchise Organizations will reciprocate in a listing Read more...
Instanet launches information website about REIS suit
01-08-2012
The lawsuit Instanet vs. REIS and Florida REALTORS has taken an interesting twist this weekend. Instanet launched a public information website about the lawsuit called TransparencyisGood.com. Before I talk about the website, I would add that REIS is not commenting publicly on this matter. In an informal statement they advise the following: “Federal litigation is a serious matter and should never be entered into lightly. REIS declines to engage in a public debate about legal matters that are best left for the Court to decide. Anyone interested Read more...
Smarter Agent throws arrow at Zillow and others
01-07-2012
Brad Bloomberg of Smarter Agent is a fighter, and I like that. He takes a position and battles from his corner of the ring. Today, he released a blog post on their company website goes nose to nose with Zillow, Trulia and REALTOR.com. Given that his company is suing them all for patent infringement (another story) – they will never be friends anyway. But this new war is one about his view of listing syndication. Post Title : Listing Aggregators like Zillow, Trulia and Realtor.com Read more...
FSBO Sites Grow as Broker and Franchises Languish
11-30-2011
One of the pleasures of working at the WAV Group is the barrage of business questions that we are tasked to answer on a regular basis. Often, the questions challenge conventional understandings about the effectiveness of strategies in real estate. A key strategy discussion among executives at large broker firms and at large franchise organizations surrounds listing syndication to FSBO websites. Syndication strategies that each firm chooses varies relative to local market competition and consumer behavior. I highlighted that last sentence because it is the most Read more...
Great Vendors Embrace Rules
11-22-2011
There has been a lot of conversational concern about companies that enter into new verticals of data management and service offerings. Four such instances were announced this year. REALTORS® Property Resource contracts with LPS for data services and LPS subcontracts to Real Estate Digital. Zillow purchased an IDX vendor, Diverse Solutions. MOVE purchased Threewide, the providers of the popular Listhub syndication service. CoreLogic launched a new appraisal tool leveraging MLS data. In every case, the vendor has been virtuous and adhered to contracts and data Read more...
CMLS reviews pending IDX policy changes
10-31-2011
I am a big fan of CMLS, the acronym for the Council of MLS. The Council does more than any other organization to support best practices among MLS service providers. Today, CMLS hosted a member webinar that provided a 360-degree overview of the pending IDX rule change, a consideration that will be discussed and submitted to the NAR Board of Directors for approval at the NAR Convention in Anaheim. The suggestions to the NAR Board of directors from the call were simple. Cathy Holefelder of Read more...
Technology service providers should think spanish
09-20-2011
When WAV Group was learning about Immobel’s multi-language IDX search strategy earlier this year, Janet Choynowski taught us a valuable lesson. Supporting multiple languages is less about making information legible and more about demonstrating your respect for a person’s culture and heritage. It had a profound impact on us. With this notion couched in our minds, we took note when My Florida Regional MLS announced the launch of CoreLogic Data Co-op to their members, and offered two training classes in Spanish. (http://www.mfrmls.com/member-benefits/mlxchange-benefits/data-co-op). WAV Group suspects Read more...
Real Estate Digital Spins Out of LPS Real Estate Group
09-14-2011Real Estate Digital (or RED), announced a management buy-out of select assets of LPS Real Estate Group and the formation of the new company. RED, the new privately-held corporation, will focus on the support of 12 core technology products offered to the real estate industry today: rDesk® Websites, rDesk® CRM, rDesk® CMA, rDesk® IDX, Real Estate & Living Media®, reDataVault, TransactionPoint®, DocCentral, FormCentral, Data Aggregation System, Neighborhood and School Reports and MLS Portal. Executive leadership of the company includes current LPS Real Estate Group President Read more...
Communication Strategy for Real Estate
08-30-2011
One of the fundamental core values of the MLS (beyond offers of compensation) is the organization and communication of property information database. The role of the MLS as a communicator is a hotly debated topic, because the communicator becomes the identity and spokesperson to a wide range of agents and consumers alike. The MLS as a communicator is largely predicated by the governance of the MLS, its bylaws, and the standards set by the MLS shareholders and board of directors. Today, most MLSs have one Read more...
REALOGY to become Syndication Site
07-27-2011
At the Inman Data Summit, many of the hot topics concerning MLS and broker data policies were rehashed. Perhaps the most radical statement of the conference came from Bob Bemis, CEO of the Phoenix area MLS (ARMLS) “Scrap all IDX rules and use the Code of Ethics and State Law to guide data policy.” I believe that he gave credit to Marty Frame of RPR for originating the idea. Aside from that rather far fetched thesis, insight was shared by two of the members of Read more...
Generating Non Dues Revenue
06-13-2011
MLSs and Associations of REALTORS® are facing budget woes. The decline in the housing market created a cascading impact on dues revenue. The number of subscribers to MLS service has retreated to 2006 averages, coupled with membership losses to Associations of REALTORS®. In isolated real estate markets around the country, MLSs and Associations have become creative at building revenue streams outside of subscription fees and membership dues. Advertising is chief among them. As you have read in leading real estate media sources like RE Technology, Read more...
When It's Good To Lose Control
05-31-2011
Business leaders can plan and set strategies but the real key to whether these plans are executed successfully is what their organization does after the plan is released. Do they embrace the plan? Do they start strong and then slip back to their old ways? Do initiatives kick off with great promise and then lose momentum? Do you find yourself having to continually push the plan rather than seeing full engagement by your staff? Do you find that some of your staff get on board Read more...
Making a Change Requires Some Tension
We have always been big believers that most change occurs as a result of some “pain”. While we all would like to create change in our lives for positive reasons, and we certainly do at times, a good deal of “major” changes in business and personal lives come about as a result of pain or some “tension” in our lives. It’s the old aspirin vs. vitamins story. We know we should take vitamins; they are good for us right? But, if you have a really bad Read more...
Move makes a move into Rentals
11-23-2010It is no surprise to anyone in real estate that the rental market has caught fire. Many MLSs are scrambling to expanded offerings to meet the needs of brokers who have focused on growing their property management business to meet demand. “Nobody wants to own a vacant home,” says Amy Gallagher of Century 21 Hometown. “We represent investors in buying rental property, and attract them with our strong property management business – we capture a side or two of the sale, and an ongoing business relationship that Read more...
Can an MLS provide data to third parties without broker consent
02-10-2010
The law offices of Larson/Sobotka have written a very good article on their blog about the NAR policy that limits the actions of an MLS to redistribute or repurpose broker (participant) data without the consent of the broker. Larson writes: “If your MLS is affiliated with NAR and subject to NAR policy, it is bound by NAR Statement of MLS Policy 7.85: Use of listings and listing information by MLSs for purposes other than the defined purposes of MLS requires participants consent. Such consent cannot be Read more...
Impact of Unemployment on Real Estate
12-12-2009Without jobs, people cannot pay for housing. Foreclosures will continue and prices will decline until a new balance is found. This could be the single factor that delays any recovery in real estate. The Decline
MLSs and Transaction Management - Take Small Steps First
10-21-2009Should your MLS provide Transaction Management services? In our recent study on Transaction Management Adoption, it is clear that many of the component parts of full Transaction Management are being used successfully today by a growing number of real estate professionals. The key point is that they are adopting this technology step-by-step. Some vendors today offer the different component parts of Transaction Management separately, including: Internet Fax Document Management Online Forms/Contracts Transaction Scheduling/Managment Digital Signature Transaction Management technology makes sense for many reasons. It provides Read more...
Paperless Process Comes of Age in Real Estate
10-12-2009
WAV Group has been tracking the adoption of online transaction processing software for several years. In the 2005 WAV Group Transaction Management Adoption Study, we identified a number of factors that were inhibiting adoption of transaction management solutions and recommended steps to improve adoption. We are seeing encouraging adoption increases throughout the country. The WAV Group 2009 Transaction Management Adoption Study surveyed over 1700 brokers and agents from 22 different MLSs. In addition, we worked with major Transaction Management vendors to look at their product adoption trends over the Read more...
How to Make Strategic Planning Really Work in Your MLS
03-13-2009
The MLS industry is in an extremely tenuous position today, feeling pressures from 3rd party vendors, state associations, neighboring MLSs and declining membership. Like any business channel, multiple entities in the MLS world are competing for a finite number of customers and business space. To make things even more difficult, a percentage of MLS leadership changes from year to year with election of new officers and directors. MLS staff has to adjust to different leadership styles while often having to re-educate the new regime on where things Read more...
How to Make Strategic Planning Really Work in Your MLS
The MLS industry is in an extremely tenuous position today, feeling pressures from 3rd party vendors, state associations, neighboring MLSs and declining membership. Like any business channel, multiple entities in the MLS world are competing for a finite number of customers and business space. To make things even more difficult, a percentage of MLS leadership changes from year to year with election of new officers and directors. MLS staff has to adjust to different leadership styles while often having to re-educate the new regime on where things Read more...
MLSs and Associations
12-15-2007The WAV Group PRO Plan is a comprehensive strategic planning process which helps an organization uncover major opportunities for improvement and then build and execute action plans to achieve these breakthroughs. In order for a strategic plan to be effective, it needs to incorporate both internal and external perspectives. It needs to examine the Association’s strengths and weaknesses from the perspective of the internal staff and members as well as home buyers and sellers. In addition, it needs to compare the organization relative to broader Read more...
Technology and Service Companies
12-12-2007The WAV Group PRO Plan is a comprehensive strategic planning process which helps a company uncover major opportunities for improvement and then build and execute action plans to achieve these breakthroughs. In order for a strategic plan to be effective, it needs to incorporate both internal and external perspectives. It needs to examine the company’s strengths and weaknesses from the perspective of internal structure and processes as well as from the perspective of the company’s customer base. In addition, it needs to compare the organization relative to Read more...
