Consolidation

A Tech View on Consolidation

by David Gumpper on March 19, 2018

Puzzle piece - Consolidation of MLS's and Associations.

Consolidation of Associations and/or Multiple Listing Systems (MLS) at any level has its pros and cons. Consolidation can tip the scale in the way that it improves the business, the industry and most importantly, how it impacts all the stakeholders. This of course includes the consumer who is at the top of pyramid!

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Consolidation: What PR Tactics Can Help?

by Kevin Hawkins on November 29, 2017

Process Integration

2018 could very well be the “Year of Consolidation” in the MLS industry. With the recent NAR move towards an “MLS of Choice” policy, we are likely to see a huge momentum build towards consolidation, especially in the second half of next year. That’s because smaller MLSs are going to find profitability under their current pricing model impossible. The simplest (and most often the best) solution will be to merge. By failing to plan for the role communications and PR plays within a consolidation, you are planning to fail. That’s because an effective communications and PR plan is vital to the success of any consolidation. Without it, at the very least, you will fail some of your members as they will not feel included, and at the worse, you will fail all of them, as they all, may feel, in some way, left out. Importance of PR PricewaterhouseCoopers wrote about mergers “the need for effective communication is often overlooked or underestimated in the flurry of activity surrounding a deal. Executing a strong and clear communication strategy is critical to successful integration.” That came from an accounting firm: the folks that typically ask why you are spending so much money on advertising and PR?! Ask any professional consultant who has lived in the world of company consolidations about the importance of internal communications and external public relations. You’ll quickly understand this is a corner you do not want to cut. It is a vital business tactic. In some ways, consolidations are all about communications. Let’s look at just a few of the practical tactical communications and PR activities that are needed for planning any successful consolidation: Strategic Communications What are we telling our employees, our vendors or strategic partners, our investors, or other stakeholders about the goals, timeline and expected outcomes of the consolidation? When are we telling whom, what and when? What are the best internal communication channels we can use to communicate to our staff? What are the right messages for each phase, and when do we communicate these and why do we use just these channels and the right timing? How do we mitigate the chances of internal communications being leaked externally, keeping internal messages internal? Pubic Relations What is our story, the story we want to tell? What are the key phrases that we want to emphasize and resonate with our key audiences? What are our core […]

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MLSs have a great opportunity to significantly improve the relevance and marketing power of their organization by finding ways to better serve the needs of their brokers and real estate consumers. I had the honor of interviewing David Charron, Chief Strategy Office of Bright MLS about the highly successful merger between Trend MLS, MRIS and several other MLSs in the Mid-Atlantic region of the United States. They have come together to create one of the largest MLSs in North America. Hear directly from David what it took to accomplish this broker-centric feat!  Check out the video below where David will give you specific ideas about how you too can accomplish consolidation in your local market. Learn from one of the best and brightest(pun intended) about how to create a more relevant organization positioned to help REALTORS®  succeed in even big ways. After you watch the video be sure to subscribe to WAV Group’s newly relaunched Youtube Channel too! Enjoy!  

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The Industry Has Risen

by Victor Lund on May 10, 2017

Consolidation

I had a feeling during the recession that the pillars that held our industry in trust had cracked. The first of two pillars of trust is the National Association of REALTORS® as fully constituted by its local, state, national, and international chapters. The second pillar of trust is the Multiple Listing Service. History has taught us that when you apply pressure to any society or organization it is likely to fracture. No doubt, these industry pillars came under massive scrutiny from their constituents. The real estate brokers who founded these noble entities became conscientious objectors to the organizations and their operations. As the distress of the recession began to ease, our industry began to reshape itself. The restoration of the National Association of REALTORS® and the Multiple Listing Service since 2012 has had a single key focus, careful consolidation. Consolidation is everywhere today. Portals are consolidating to create our industry’s largest and strongest public company. Yesterday, Zillow nearly kissed the $8 Billion dollar ring on Wall Street. Technology firms like Lonewolf, Boston Logic, Elm Street, and others are absorbing smaller firms at an astounding rate. Brokerage firms have consolidated too – represented by the tremendous roll up by Berkshire Hathaway.* But most of all, we have seen massive consolidation in our REALTOR® Associations and Multiple Listing Service providers. MLS Consolidation One of the most astute strategic thinkers in the MLS industry is David Charron. He coined the term Overlapping Market Disorder (OMD). Overlapping Market Disorder is a plague that erodes organizations that are contributing to the chaos. OMD happens when brokers and agents must become members to two MLSs in order to serve a consumer looking to buy or sell in an overlapping area between the two firms. OMD causes friction between the two MLSs whose duty it is to serve the broker and agent. The consumer is also trapped in this friction. Everything is duplicated in OMD areas as the data and operations fabric that is constituted by bifurcated organizations pits those forces against each other. On one hand, Charron provided a solution to the problem with a database for sharing data. It’s largest and most handsome installation was California Real Estate Technology Services. The technology solution to merge the databases was the first step. Then the participants recognized that data sharing was only a suspension of the inevitable. In the wake of data sharing came consolidation. The California […]

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