Real Estate Franchise

Longtime chief information officer, Gurtej Sodhi has been appointed to senior business leadership of the Crye Leike Group of Companies. His new title strings together Chief Information and Strategy Officer, and Corporate Executive Vice President. This new position at one of America’s leading brokers signals a new strategic direction for large firms. Sodhi’s responsibilities will reach over all of the Crye Leike companies including residential real estate, commercial real estate, mortgage, title, insurance and various other business units. “Information management is changing quickly in real estate and large firms with diverse business units require top level oversight to integrate an end to end customer service experience,” said Harold Crye, Chairman and CEO of Crye Leike Group of Companies. In this new role, Sodhi will be instrumental in tying the business objectives of each company, along with their operational data and technology solutions, into one cohesive environment. “Today, many of our business units operate in silos that share information, but there are clearly opportunities for maximizing business outcomes in profitability and customer satisfaction by dedicating resources to better integration,” said Sodhi. In addition to his daily responsibilities at Crye Leike, Sodhi represents his firm in various workgroups for The Realty Alliance and Leading Real Estate Companies of the World, and many ad hoc MLS and data management committees for  MLS’s and the National Association of REALTORS®. He brings a unique perspective as someone who aggregates data across more than 40 MLS’s in 10 states. He also understands that today’s brokerage must rely on home services offerings to remain successful in real estate, and is an expert at integrating the companies business units together for the benefit of the consumer. Appointing Sodhi as the leader of the strategy function for Crye Leike is a telling announcement. Information systems have become the cornerstone of success across all business units in real estate today. Managing the data and the systems that power a firm’s offerings are fundamental to long term success. WAV Group congratulates Mr. Sodhi, Mr Crye, and the entire team of Crye Leike as they embark on this new journey together.  

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FSBO Sites Grow as Broker and Franchises Languish

by Victor Lund on November 30, 2011

Listing Syndicaiton

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 important statement in this blog post. Many brokers and franchises are looking at what appears to be a radical move by Edina Realty and Shorewest REALTORS to pull out of syndication to FSBOs. It is not radical at all. It is sound business reasoning based upon measuring consumer behavior in their marketplace. At its foundation is the understanding that consumers visit agent, broker, franchise, and FSBO websites to get listing information.

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