non dues revenue

Join WAV Group for an informational webinar on advertising in an Association owned MLS! This webinar will feature a Q & A session with GLVAR, BNAR, and GEPAR – three leading Association-owned MLSs who have launched advertising programs to help generate non-dues revenue. If your Association or MLS is considering adding or modifying your advertising strategy, be sure to register today! You are encouraged to prepare questions and invite your leadership to attend this webinar as well. There is no fee for attendance but the capacity of the meeting room is limited to 1000. Register early to ensure your access. Date: September 12th, 2013 Time: 1 pm Eastern / 12 pm Central / 10 am Pacific [Please adjust for your time zone!]   Click here to register   Moderator: Victor Lund, WAV Group, Inc. Panelist:     Nelson Janes – CEO, GLVAR will discuss how advertising on their public website (http://homelasvegas.com/) funded a new website, along with an overview of feedback on the strategy from the perspective of the membership and the board of directors.     Linda Doane – Vice President and Publisher, BNAR and operator of the public site, 2FindYourHome.com will talk about how their print publication and online search site combine to compliment the advertising strategy. They have been particularly successful at attracting Brokers, Agents, and Homebuilders to advertise in their publication and on their website. Learn why members would rather purchase advertising from the Association than the newspaper or other magazine publications.       Jason Sanchez Jason Sanchez – Director of MLS and Technology, GEPAR. The GEPAR board of directors took a bold initiative by placing advertising in the MLS system. Sanchez will talk about the process of developing the strategy and the feedback from the membership.   Disclaimer: This webinar is sponsored by CoreLogic. The company launched a new advertising program called CoreLogic Real Estate Advertising Network (CREAN) in 2012. The webinar will not be providing any product information. Please contact your CoreLogic account manager or Todd Costigan (tcostigan@corelogic.com) if you would like information about their ad network. WAV Group and RE Technology do not endorse any product or service. We strongly encourage Brokers, Agents, MLSs and Associations to thoroughly investigate a variety of solutions before selecting a vendor for any service. For a complete list of suppliers of Advertising solutions, visit RETechnology.com

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Revenue Generation Emerges in MLS strategy

by Victor Lund on August 14, 2013

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. MLSs have a choice each time they add a new service. They may supply the new service as a component of monthly subscription fees, or allow agents to pay for it a la carte. There is a current debate today between Agents, Brokers, MLSs, and Associations about what is included in subscription fees and what is not. Some MLS constituents want the MLS to provide a robust and comprehensive suite of services – MLS, Tax, CMA, CRM, Listing Syndication, Agent Website, Lead Management, Marketing through an MLS consumer site, , Virtual Tour, Appointment Software, Lockbox, eSignature, Transaction Management, Document Management, Forms Management, Data Licensing, Newsletter Marketing, Demographic Data, Market Data, AVMs, Market share data, Training, Reverse Prospecting, MLS Security and Single Sign-on, WalkScore, Custom Reports and Property Flyer Maker, Floor Plan software, Data Checking software, Data Sharing with other MLSs, Photography services, Foreign language support, Data Feeds to agent and broker technology vendors, school data, sign riders, and agent ratings. That was the best I could do at picking categories – there were 38 in all – and all of these services cost dollars rather than pennies. Here is the debate. Many large brokers who contribute the most revenue to the MLS do not want the MLS to add services that duplicate tools they already provide to their agents. They call this practice – “leveling the playing field.” From the list above, aside from MLS, Tax, and lockbox – most large brokers offer these services. They offer these services to their agents for a number of reasons, including recruiting, retention, and to differentiate their services to the consumer. If the MLS offers the service, the broker and its agents are compelled to pay for them, and the broker still carries the financial burden of duplicating the services for […]

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eCommerc image

Many Associations and MLSs today are looking at ways to offset the membership losses of the past few years by generating new revenue other than membership dues. While generating non-dues revenue is a noteworthy and sound objective, it’s a lot harder than it looks. While I was at Fisher-Price, I launched the company’s first ever eCommerce program. Since then I have worked with several companies in many business sectors launching their own eCommerce programs. While the Fisher-Price eCommerce division is now one of the most profitable divisions of the company, it did not come without gaining a few bumps and bruises along the way.  Bottomline – eCommerce is a LOT harder than it looks. WAV Group would like to share its year of learning about online stores with you. We have scheduled a webinar for October 30th at 1:00 pm EST, 10:00 am Pacific time to help educate MLSs and Brokers about a path to a profitable eCommerce effort. To register for the webinar, click here! During the session, we will walk you through many of the elements that need to be considered when trying to find ways to generate non-dues revenue.  We will talk to you about what types of products you might want to consider, pricing options as well as best practices to effectively merchandise and promote an online store.  The session will also cover methods about how to define each of your customer segments – finding who are the most likely to buy products from their MLS as well as other research methods for identifying a winning combination of products and promotions. The session will also provide a brief overview of the eCommerce options available for Associations and MLSs today. We look forward to your attendance at this FREE educational session. To register for the webinar, click here!

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Technology Adoption Strongest with Top Producers

by Marilyn Wilson on October 10, 2012

Sales-Success

MLSs face many decisions about what technology services to offer to their members.  Budgets are tight and decisions need to be better justified than ever before. MLS technology committees and leadership need to sift through hundreds of products and multiple presentations before deciding what types of products make the most sense for their members. It is a difficult and expensive task to provide meaningful, relevant and contemporary product offerings to help agents and brokers better serve the needs of their clients.  The first annual WAV Group MLS Technology Adoption study was designed help MLSs better understand the types of technologies being used most often. The attached report is deigned to MLSs have a better understanding of what successful adoption looks like.  The report is also designed to provide you with tangible ways to improve adoption of the technologies you have chosen to offer to your customers. Here are a few of the takeaways from the study that we found most interesting: Top Producers DO Matter More The study proved, once again, that the 80/20 rule is alive and well.  In just about every case, 20% of MLS subscribers complete 80% of the transactions. It is clear that top producers and aspiring top producers are the two most important groups for technology adoption.  These groups are the most proactive in many respects and their technology adoption patterns are no different. They use more technology than others because they are transacting more business and looking for new ways to differentiate themselves. To ensure a successful rollout, MLSs need to consider the needs of top producers. Even with this type of sales concentration, most MLSs still think of adoption based on their entire subscriber base. This is simply not realistic and can even be dangerous. If an MLS chooses technology based on the need to achieve adoption for the masses without thinking about the true value of the tool, they may make decisions based on the lowest common denominator, rather than providing the best tool for the most active producing agents Technology decisions need to be made to serve the needs of those that are driving the industry with transactions.  Instead of thinking about achieving 40% adoption of all customers, how about thinking about 50% adoption of the most productive agents? Here’s a more meaningful way to project and calculate adoption of technologies considering the concentration of sales success among top producers: Top Producer Adoption […]

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A New eCommerce Model for MLS

by Victor Lund on October 9, 2012

Lauren Hansen, IRES CEO

IRES MLS understands that the MLS cannot build software that is going to meet all of the needs of their subscribers. Rather, they embrace the rich development community that is flourishing in real estate industry today. IRES recognizes that marketing is the greatest cost to offering software as a service. As such, IRES is launching the IRES Success Store. The Store will benefit IRES Subscribers by putting technology at their fingertips, and benefit software developers by providing them with a marketplace for their products. IRES is a unique MLS, like their peers at The MLS, Trend MLS, NABOR and others, they develop and maintain their own MLS software rather than the traditional model of licensing software from an MLS vendor like CoreLogic, LPS, FBS, Solid Earth, Rapattoni, and others. They write code, which is an important distinction in the level of software acumen by this MLS. They have a lot of respect for software developers. Lauren Hansen, IRES CEO, believes that the IRES Success Store should not increase the costs of software purchased by their subscribers. Although the primary mission of IRES is providing MLS services, their software development experience makes them sympathetic to the challenges that face software vendors who offer software as a service to real estate professionals. They honor the efforts of software developers who are trying to drive adoption and satisfaction of their product. As such, the company sought a solution for eCommerce that supported the vendors and their subscribers alike. In doing so, they developed a new eCommerce Model for MLS. The IRES Model: Software vendors pay $600/year ($50 per month) slotting fee per product to be placed in the IRES Success Store. The slotting fee model is the first of its kind in real estate. It avoids costly and time-consuming contract negotiations associated with reseller agreements and complex integrations. It is a simple construct that defers the MLS costs to providing and maintaining the store. IRES selected RE Technology as a partner to build the IRES Success Store. IRES MLS in northern Colorado provides MLS services to 8 Boards and Associations of REALTORS®.  . They also display listing data for Metro Denver and Colorado Springs areas through data-sharing efforts with Metrolist MLS and Pikes Peak MLS. They serve more than 5,000 real estate professionals. If you would like to offer your product in the IRES Success store, please send an email to info@IRES-net.com for […]

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RE Technology Releases 2012 MLS Technology Guide

by Victor Lund on June 27, 2012

MLS Technology Guide

MLSs seeking to educate themselves and their members about technology, as well as discover sources of non-dues revenue, can leverage this easy-to-use guide. Arroyo Grande, CA (June 2012) – MLSs and real estate Associations face myriad challenges in today’s changing technology landscape. A new guide from leading real estate technology media site, RE Technology, aims to assist them in overcoming these challenges with descriptions of leading tech companies and products. Interested organizations can download the 2012 MLS Technology Guide for free at RETechnology.com. Information in the guide is presented in a clear, concise format. Product categories covered include agent ratings, CMAs, consulting, document management, transaction management, digital signatures, listing syndication, MLS data solutions, MLS systems and eCommerce, mobile, online marketing, showing solutions, and social media marketing. “MLSs and Associations are facing a loss of revenue from membership dues,” explains Victor Lund, RE Technology CEO. “One way that they can continue to thrive is to generate revenue through other means – such as offering technology products to their members. Our guide has been very popular with organizations seeking to do just this.” RE Technology is in a unique position to assist real estate organizations as they make decisions about real estate technology. Through integrations with over 70 MLSs nationwide, RE Technology.com serves as a source of education about real estate technology strategies, trends, and products. By forming close relationships with the vendor community, the company is able to facilitate communication and commerce between providers of technology solutions and MLSs seeking to bring those solutions to their members. “We’re happy to help however we can,” Mr. Lund explains. “We couldn’t continue to educate the real estate community without our MLS colleagues. They are instrumental to our success, and we’re constantly trying to play a role in theirs. The Technology Guide is just one way we do this.” About RE Technology, Inc. RE Technology, Inc., is a comprehensive real estate technology website, reaching over 700,000 real estate agents and brokers. By embedding directly into MLS systems across North America, RETechnology.com makes it easy for agents to access clear product descriptions, read product reviews, and stay current with technology trends. Providing a rich assortment of tutorials, how-to’s and technology training articles, RE Technology helps agents understand the benefits of technology and how to strategically implement technological tools. The RE Technology website is colored with user ratings and comments, creating a rich community of product feedback […]

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Last Day for Midyear Webinar!

by Marilyn Wilson on June 6, 2012

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Tomorrow we will bring attendees up to date on critical industry issues and trends via our last Industry Update Webinar, including: Economic forecasts for the real estate industry in 2013. Hot NAR topics and policy issues like the new proposed IDX rules. CMLS updates on new industry initiatives. Broker topics like syndication and online marketing effectiveness. Emerging technology trends for brokers and agents. MLS technology update. Promising non-dues revenue for MLSs to offset declining membership…and much more WAV Group founding partners and industry experts Marilyn Wilson, Mike Audet and Victor Lund will be sharing valuable on-the-spot insights gained while attending the annual Midyear NAR Conference held in Washington D.C. from May 15th – 19th, 2012 tomorrow June 7th, 2012 from 10:00 – 11:00 AM Pacific time. Marilyn, Victor and Mike will also be available to take all of your questions during a Q & A session. The final webinar is tomorrow June 7th.  To register click here-the price is $149. Webinars can also be scheduled privately for your organization upon request. E-mail us for more information.

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MLSs and the Marketing Center

by Victor Lund on May 14, 2012

Marketing Center

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 begun to partner with providers to enhance or augment this MLS system functionality, and offer marketing systems that have full feature functionality. MRIS, Metrolist Colorado, MLSListings, MLSLI, and a handful of others have taken the position that the best way to accomplish serving these member needs is to create a robust vendor partnership program. They have taken the position that MLS vendors can not be all things to all people. Although various MLSs System solutions excel at certain areas of technologies that benefit the agent-consumer relationship, they recognize weaknesses in other areas. Here is a snapshot crafted by MRIS that outlines their strategy which is being delivered through a partnership with Seattle based Imprev. The Marketing Center will provide MRIS customers with free and unlimited access to an integrated suite of professionally designed and simple to create digital and print marketing products and tools including Flyers, eFlyers, Postcards, ePostcards, and Virtual Tours. In addition to supporting marketing and promotional efforts, there’s productivity savings as well since MRIS customers will pull in real-time listing data – including photos –to create any of the marketing materials without having to re-enter data or upload images, tasks agents already complete when they create the listing. “My Marketing Center will be the fastest way to reach home buyers and sellers with real-time, in-depth marketing information instantly. In seconds, a link to a polished Virtual Tour is posted to Realtor.com or to the agents website, another click and an eFlyer with the broker’s template and branding is posted on Facebook or sent out on Twitter,” said John L. Heithaus, MRIS Chief Marketing Officer, adding, “The faster an agent can respond in today’s digitally-driven economy in real time, the more successful he or she will be to generate more sales commissions.” MRIS and Imprev also announced that a Premium suite of digital and printable marketing products and tools will made available to MRIS member agents and brokers at a low-cost. The lineup of Premium marketing products is […]

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CRMLS Partners With Homes.com for Full Offering

by Victor Lund on May 3, 2012

CRMLS Homes.com

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 per month. This trend expanded as emerging products like Listhub, Property Panorama, and Listingbook began to offer Freemium services, where the MLS offered a free basic version of the product, but subscribers could opt into advanced features by paying a premium. Recently, Metrolist in Colorado; MRIS in the Mid-Atlantic States; and MLSListings.com in California launched retail stores for technology. Last week, the California Regional Multiple Listing Service announced a partnership with Homes.com to offer the complete Homes.com tool set as a member benefit – returning to the trend of site licenses. Homes.com has had a long-standing relationship with MLSs in California site licenses for a cross-MLS property search and CMA tool under the product name Mercado with the MLS Alliance search. The new relationship adds abundantly more product offerings that marry data to key agent resources beyond the Mercado marketing package. Agents will have access to the Homes Connect Marketing platform (Design Center) tied to the Homes.com Customer Relationship Management solution. This CRM solution recently added social prospecting features through Linkedin, Facebook, and Twitter contact integration. Topping it all off, agents will receive IDX and VOW offerings included in the package along with agent facing and consumer facing mobile offerings and the Facebook Listing Application for Facebook business pages. (Kitchen sinks available if requested). But wait, there is more…… Participating brokers and agents will also have their listings displayed on Homes.com and their agent MyHomes profiles populated from the MLS roster on the site. CRMLS has purchased all of these products from Homes.com and will be offering them all as a member benefit. By my basic accounting, this includes every Homes.com product with exception of advertising enhancements on Homes.com (Homes Connect Plus and Homes Connect Pro). Some more observations: CRMLS offers multiple MLS systems: Matrix and Tempo/ Fusion. To some extent you could include REALTORS Property Resource and WyldFyre 7 to this list although they are not MLS systems (only MLS data search). CRMLS offers multiple IDX/VOW solutions: SmartDesk IDX […]

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Explaining an MLS App Store

by Victor Lund on May 1, 2012

RE Technology Success Store

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 from the RE Technology Success Store, which we call an App Store, but it is really an eCommerce solution. Let me explain: Instant Installation The key component of an App Store is that when you buy something, you download it or install it and it works. It works immediately. Think of the iPhone App Store, or the Adroid Market or the Blackberry Marketplace. When you go to the app store and click the install or buy now button, you are alive in an instant. For real estate technology products, instant means instant access. Most real estate products do not need to be installed. Rather, the subscriber needs to gain instant access to the product via single sign on or username and password. Next comes configuration: personalizing the application with branding or localization features. My hopes are that the personalization attributes for agents and brokers become available to vendors for automatic provisioning. Platform Specific All of today’s App Stores are platform specific. Platform specific means that there are business rules. For example, you must have a specific version of hardware or software to have access to the App – like an iPhone 4S or operating version 5.1. Otherwise you are not allowed to play. The MLS is a perfect Platform environment for business rules. The MLS has participants (brokers) and subscribers (Agents); REALTORS and Non-REALTORS. This information is generally curated accurately in the MLS subscriber Roster. I say generally because the roster data bases are sometimes a mess – full of duplicates, and inaccurate contact information. Much in the way that there is no clean single source of property records in America; there is no clean source of real estate agent and broker information. The closest thing is a NERDS Id for REALTORS, but that is missing all of the non-REALTORS. My hope is that MLS App Stores will somehow find a path to circumvent the need for the three party data license agreement by replacing it with some form of instant click […]

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Top Articles from Last Week on RE Technology

by Victor Lund on April 27, 2012

re technology logo

RE Technology is now providing communication support to more than 70 MLSs. The site allows the MLS and Association to deliver engaging technology learning for their members. If you have not considered offering RE Technology in your market, give us a call or lets schedule a meeting at Mid-Year. It is easy to launch and is completely free. If you do not already have an account, we would be happy to create a complimentary account for you. Just email melissa@retechnology.com TOP 5 AGENT & BROKER ARTICLES OF THE WEEK! RE Technology wants to supports our MLS partners by highlighting articles that peeked the most amount of agent and broker readership. The goal of this effort is to provide content for MLSs to re-purpose to their members. Feel free to use these articles in any of your communication programs – Newsletters Facebook pages Blogs Twitter Webpages OR any other communications vehicle you may drive Please provide a link back to retechnology.com if you publish to the web! Here are the top 5 Agent and Broker articles for the week! 13 Helpful iPhone Apps for Agents 2 Ways a CMA Can Generate Leads A Picture is Worth a Thousand Words Expanding Your Real Estate Leads 15 Quick Fixes for Your Website Copy    

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iPad Listing Presentation Apps are hot for 2012

by Victor Lund on March 23, 2012

RE/MAX Presenter iPad Listing Presentation

If you appreciate research, you will enjoy some of these statistics. They point to the prioritization of tools that agents and brokers are seeking to improve the effectiveness of their marketing. The survey conducted by Imprev was presented to agents and brokers attending the Leading Real Estate Companies of the World conference. Keynote: They want iPad Listing Presentation Apps. With Apple selling more than 250,000 iPads a week – it is clearly a game changer that professional real estate agents are adopting. RE/MAX in concert with Imprev is the first company to launch a franchise-wide listing presentation tool for the iPad (RE/MAX seems to always be the first franchise to do anything) The iPad Presentation App topped a list of 25 different marketing products, from which respondents chose up to five different products they would like to have. The next most popular marketing product was automated (or “Drip”) eMarketing campaigns (35 percent), followed by single property websites (29 percent), a personal blog (28 percent) and video (25 percent). If you are putting together your product offerings for agents, you should be considering these items in addition to websites and IDX. RE Technology will be featuring these items in many of the eCommerce stores being launched this year for MLSs. It is interesting to note that video has fallen to 5th on this list. Blogging and Video have been the marketing darlings of the real estate industry of late. Blogging engages consumers in conversation and improves search engine optimization. Video increases consumer connections with properties and neighborhoods. The Smartphone was picked as agents’ and brokers’ current favorite technology, with a little more than half those surveyed saying it was their top choice (52 percent), followed by the iPad/tablet (26 percent), laptop/notebook/netbook (16 percent), desktop computer (5 percent) and other (1 percent). The nation’s MLS are tragically behind in supporting agnets and brokers on mobile. Perhaps this data will ring a bell. Email marketing ranked number one as the most effective marketing product used today (51 percent), followed closely by an agent website (50 percent), virtual tours (42 percent), printed postcards (36 percent) and Facebook (32 percent). MLSs do more email marketing than they think. For every 15,000 members, and MLS sends about 6 Million email alerts. Perhaps it is time to make some significant improvements in the design of these emails. Those surveyed by Imprev said the most effective marketing products […]

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Figuring Out The Non-Dues Revenue Equation

by Marilyn Wilson on March 8, 2012

Screen shot 2012-03-08 at 3.36.37 PM

As membership numbers have declined, many MLSs and Associations are feeling more and more pressure to reduce their dependence on dues based revenues. At the same time, the cost of running an MLS is increasing. Members are more demanding for the scope of services they expect while they expect the pace of improvements and enhancements to keep up with the ever-increasing speed of technology innovations available today. Third, members are under increasing pressure to offer better service and information to their customers, putting even more pressure on the MLS to deliver comprehensive, accurate data and seamlessly integrate to third party products. With the decreases in agent and broker demand for technology products and the high cost of sales to individual sales professionals, more and more technology companies are looking to MLSs to become an important distribution and sales partner for their products. Top Producer from Move, Inc. is the latest example of technology companies who traditionally sell to agents and brokers are now offering a non-dues revenue share programs for MLS. Their program includes a free member benefit company that provides tools and free training as well as a revenue share to the MLS. This opportunity allows the MLS, REALTOR.com, Top Producer and the MLS members an opportunity to work together so members receive the combined benefit of:

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Top MLS trends for 2012

by Victor Lund on March 1, 2012

Business Intelligence

WAV Group is among the ranks of consulting and research firms dedicated to the success of the Nation’s MLSs. Given the company’s involvement at the strategic planning level, there are several developing themes being nurtured.     The top six trends are: Listing Syndication Premium Service Offerings MLS Consumer Websites Online Signatures Data Licensing Data Sharing

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MLS iPad apps have NOT gone far enough yet

by Marilyn Wilson on February 19, 2012

Realtor.com iPad app

Recently, WAV Group has completed several customer satisfaction surveys from around the country in the Southwest, Mid-West, Southeast and Mid-Atlantic regions. In every case there has been a lot of discussion and requests for more MLS access via smartphones and especially for iPads and other tablet devices. While many MLSs think of their iPad application as a property search tool, agents want their MLS iPad apps to go much further than that. Even for those that have launched Tablet solutions, there are two major areas of dissatisfaction that MLSs need to address to make mobile MLS applications truly useful for their agents and brokers. Setting up a listing in the field First, agents are demanding that an iPad application become “THE” place to set-up a listing.  It makes sense considering that the agent could access the iPad application while they are in the home of their seller.  It’s not enough just to view properties from an iPad. Agents want it to become their core tool for setting up new listings. They would like to be able to take photos of the rooms and upload them in real-time. Ideally, the system will be able to easily indicate which room the photo is from and allow the agents to easily set the priority of display for the main photo from the application as well.

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Non Dues Revenue for MLS

by Victor Lund on February 6, 2012

Webinar - non dues revenue

WAV Group Webinar Feb 15th at 10:00am PST   This WAV Group webinar will focus on a panel discussion about the topic of non-dues revenue. Numerous MLSs around the country have launched or are in the process of launching these programs to provide lower cost business solutions to MLS subscribers. According to the recent CMLS survey – 54% of today’s MLSs offer some form of non-dues revenue. “These companies are pushing the boundaries of their non-dues revenue programs,” says Marilyn Wilson, WAV Group Partner. Topic: Why MLSs pursue non-dues revenue Different options for generating non-dues revenue How it is positioned to their Board of Directors and members How to measure success Panelists: Victor Lund – Founding Partner of WAV Group John Heithaus – Chief Marketing Officer at MRIS Jeremy Crawford – Chief Operating Officer at MLSListings.com Prem Luthra – Co-Founder and Chief Revenue Officer at Real Estate Digital Melissa Olson – Senior Manager, Marketing & Sales at Metrolist Colorado Travis Huch, Western Area Regional Director at Zuora Date: Wednesday, February 15, 2012 Time: 10:00am – 11:00am PST Reserve your Webinar seat now at: https://www2.gotomeeting.com/register/697962370

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Frugyl launches with great buzz and fanfare

by Victor Lund on January 27, 2012

Frugyl

A new company launched yesterday called Frugyl. It is the child of Jimmy Mackin and Chris Smith, creators of the “What should I spend My Money On?” Facebook Group. This will be of interest to those with analyst careers. The goal of Frugyl is to crowd source information and satisfaction on real estate tools and services used by real estate agents. Additionally, Frugyl will endeavor to provide group discounts on products purchased as a group. The Frugyl site had a great start yesterday when they announced the launch on Facebook. They exhibited excellence in social media marketing that many technology companies would be well served to observe. They reported that hundreds of agents signed up and are paying $9 per month to subscribe. The thesis of the site points to the conviction by many in our industry that there is a hunger among agents for information about the best tools to use in real estate – not just the best vendor pitch. Here is the positioning from the site:

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RE Technology Launches MLS and Association Newsletters

by Victor Lund on December 6, 2011

RET Logo tn

The real estate technology leader now offers a free newsletter solution for their partners. ARROYO GRANDE, Calif. – December 6th, 2011 With more than 1.5 million visits per month, RE Technology (www.RETechnology.com) has proven that comprehensive information and training on real estate technology is a must-have for today’s top real estate agents and brokers. To support MLSs and Associations in delivering daily real estate technology information to subscribers, RE Technology has launched custom MLS and Association newsletters – free to all RE Technology partners. Already have a newsletter, but looking for more articles? We can help with that too! Any RE Technology partner has the right to publish RE Technology articles by simply copying and pasting the article into your newsletter.[1] Have a Twitter page or Facebook page for your MLS subscribers or Association members? RE Technology provides you with two ways to supply content to those accounts. You may request a custom RSS feed for your Twitter and Facebook pages, or we can supply you with a custom Facebook widget to complete your technology tab on your Facebook page.

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CMLS

The CMLS Conference in Tucson was absolutely the BEST EVER in my view!  First, there were over 550 attendees – the largest in conference history. The conference continues to grow in popularity year after year due to the relevant and timely content delivered coupled with well-organized and FUN events. This year was no different.  The CMLS Board led by Merri Jo Cowen and the fabulous hosts at the Tucson Association of REALTORS® led by Phil Tedesco and Wes Wiggins, formerly of Tucson created a very memorable event.   Jim Harrison, CEO of MLSListings was also elected as the latest board member of CMLS too.  He will be a great addition to the group, I’m sure. The event was kicked off with keynote speaker Brian Taylor, who set the tone of the conference to be focused on evolution, change and transitions.  He used several exercises to graphically depict the ways organizations fall into bad habits and use the wrong motivators to influence change ineffectively.  He set the tone for every presenter to speak frankly and talk about the “real” issues holding back the MLS industry.   In my view the single largest hurdle to growth and evolution of the MLS industry is our own hesitation to take bold and sometimes even unpopular moves to keep the industry ahead of the endless number of competitors coming after us.

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Real Estate Digital Spins Out of LPS Real Estate Group

by Victor Lund on September 14, 2011

Real Estate Digital

Real 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 Jay Gaskill, CTO John Hensley, CSO Prem Luthra, and CFO Mike Kovar. The company expects to extend its line of services to real estate professionals, brokers, and Associations. “As a result of this management buyout, the company believes that it will be able to provide a more innovative, personalized, and higher-quality service to its customers,” said Prem Luthra. “We expect to be more nimble and have greater latitude to expand our product offerings to this core audience.” According to Luthra, new products will initially focus on expanding the broker platform to be a platform that allows for easy integration with third party companies, mobile real estate automation, and developing additional revenue streams for clients. A “splash page” of the new website will be launched at http://realestatedigital.com. For those of you familiar with LPS Real Estate Group today, it may help you to understand the company division by appreciating that the majority of Olathe, KS people are staying with LPS and the Irvine, CA team will be joining Real Estate Digital, RED. This is not a perfect division, but a nice mental summary. RED will continue to be a leader in Data Aggregation services under their Data Aggregation and RE DataVault platforms, and will be a subcontractor to LPS for Data Aggregation Services provided to RPR (REALTORS® Property Resource). LPS will remain responsible for licensing RPR data to third parties like financial institutions, GSE, insurance, Government, and others. In speaking to the management team, it would seem that RED will be off to a great start.  They are launching the company with mature, stable, well-adopted products; one of the strongest and most experienced management teams in real estate technology; and long-standing and well-developed customer relationships. The company reports that will be immediately profitable. This transaction was a classic management buyout and no underwriting details were made public. What happens to LPS? LPS is a huge and […]

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