Multiple Listing Service

Empty Listing

‘Naked’ listings are a disservice to both buyers and sellers and WILL hurt your brokerage! When a listing hits the MLS and is syndicated to brokerage and portal websites — especially in 2017 — there are qualified, avid buyers who are waiting for that listing. They want to learn everything they can about their potential new home so they can decide whether it’s worth the asking price and whether they should spend some of their precious house-hunting time taking a tour.   Let me ask you something: How easy do you think that is to do without any listing photos? “Naked” listings are all too common in an era when there’s no excuse for it. Not everyone is a photographer — but everyone has a phone in their pocket with a high-resolution camera and five or ten minutes to read up on a few quick tips for how to shoot photos with that camera in an emergency (Google them — there’s an article for every phone model). Brokers, let’s be clear: Not having a single photo for the listing you are about to put into the MLS is an emergency. When that listing goes live, it sends the photo-less data to dozens of website within MINUTES. Your lack of attention to detail will be broadcast to hundreds of agents and potentially thousands of buyers with the click of a button.Just because your MLS doesn’t REQUIRE a photo to be included for one or more days  after the listing goes live doesn’t mean you shouldn’t include a photo. Your listing is going to be published on hundreds of IDX sites and third party sites literally within minutes of you hitting the “SAVE” button.  Why would you severely impact your ability to sell a property by not taking the time to build the most valuable marketing asset there is for a home – attractive photos? Think this is an exaggeration? This is what your listing looks like across the internet when you neglect to take at least one photo. Those bland street maps are really inviting to buyers, aren’t they? Franchise systems can also make it easy to forget about the photos, so agents should make sure they are uploading only complete listings to the MLS and to any franchise system that their brokerages use. Allowing your agents to upload listings to the MLS without at least one high-quality photo of the […]

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How Loyal Are YOUR Customers?

by Marilyn Wilson on June 6, 2017

Hand Holding Small We Love Customer Signage

It is critical for MLSs and Brokers to measure the relationships they have with their customers.  While most MLSs do not have DIRECT competition, they have tons of indirect competition.  MLSs compete against companies that generate leads for agents since that it one of their key roles. They compete against training companies providing CE credit and teaching about technologies. MLSs also compete. MLSs also compete with companies that provide ways to aggregate and distribute real estate listing information for the purposes of monetizes the information flow.  While MLSs have survived well in the real estate ecosystem, some are more well-regarded than others. Brokers, on the other hand have TONS of competition from their fellow brokers.  Understanding customer loyalty is even more critical for them. To really know how well you are doing in building and strengthening customer relationships, it is critical that MLSs measure customer satisfaction. There are two measures that WAV Group recommends for its clients – the Net Promoter Score® or NPS. Second is the Customer Effort Score or CEF®. What is a Net Promoter Score (NPS)? Net Promoter Score, or NPS is a customer experience metric developed by Fred Reichheld, aimed at determining the level of customer loyalty. NPS was introduced by Reichheld in his 2003 Harvard Business Review article “The One Number You Need to Grow“.  Net Promoter Score measures a customer’s willingness to recommend a brand’s product and services to their friends, family and colleagues. NPS is a simple metric, based on a single question that measures customer loyalty: “How likely is it that you would recommend our company’s product and services to a friend or colleague?” Respondents answer by choosing a number from 0-10, with 10 being the most likely to recommend.   While this question can work well for brokerages and technology companies where there are lots of competition in the marketplace, we have seen it not work as well for MLSs, mainly because in most markets REALTORS® do not have a CHOICE of MLSs organizations to work with. Sometimes it angers MLS subscribers and they will say things like “I have no choice so I would have no need to recommend my MLS to anyone. Depending on the score they give, customers are then classified as promoters (score 9-10), passives (score 7-8) and detractors (score 0-6).  The more 9 and 10 scores you receive the higher your Net Promoter Score will be. Those that […]

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