VOW

Brokers Should Audit Their MLS

by Victor Lund on December 30, 2013

2014 may well be the year of the broker, or as they are referred to in MLS speak, the year of the Participant. If your MLS has adopted the National Association of REALTORS® template for MLS Rules and Regulations, you will find that brokers are Participants and agents are Subscribers. As a Participant in the MLS, brokers accept full responsibility to adhere to MLS rules and regulations. The MLS does a pretty good job of enforcing those rules. But who among you is making sure that the MLS is not running afoul? WAV Group MLS clients are traditionally the largest MLSs in the nation. If the MLS has a member count of less than 2000, it is unlikely that WAV Group has ever facilitated a strategic plan for your MLS. From this perspective, WAV Group has learned that large MLSs rarely run afoul of staying current. The place to spend time auditing your MLS is the small MLS. These MLSs are unlikely to attend NAR’s National or Mid-year meetings where MLS policy evolves. They rely on NAR emails to stay current. Moreover, the MLS board of directors is also unlikely to stay current with MLS policy, which erodes their appreciation and ability to make informed policy decisions. Beyond NAR, there is also the Council of MLS or CMLS. This is the industry trade group for MLS executives that has regular meetings to discuss best practices of operating an MLS. Ask your MLS if they attend NAR Annual, Midyear, and CMLS meetings. The goal of this post is not to pick on small MLSs. The reality is that they do not have the resources to participate in all of these things. Where WAV Group discovers small MLSs that have fallen behind is when we audit large brokers for rules compliance. Large brokers proactively engage in an audit each year to make sure that all of their systems are in compliance with local rules and regulations. This process is as much a vendor audit as it is a broker audit. MLSs often change rules and the broker or vendor miss the memo on the rules change. Alternatively, the NAR rules change and the MLS does not revise their rules to keep current. Either way, the broker is out of compliance, and is liable for fines and other disciplinary action. WAV Group gathers the rules and regulations from each MLS then review all […]

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by Victor Lund on December 23, 2013

5 Facebook Tips and 51 Status Updates for Real Estate Professionals It’s easier to hate Facebook than admit we don’t understand how to make it work for our business. The reality is when used effectively, Facebook can put you in front of hundreds or even thousands of people for little or not cost.  Three Simple Steps to Boost Your SEO Search Engine Optimization (SEO) is an easy (and free!) way to make sure your website appears at the top of a Google search. Improving your SEO means that you are taking specific steps to help get your website and listings ranked high on Google, which means potential clients can easily find you and your listings.  How to Market to First-Time Homebuyers Whether you’ve decided to make working with first-time buyers your niche or you just need to diversify your funnel, you’ll find no shortage of potential clients. Proof: Every homeowner was at one time a first-time buyer.  Using VOW to Generate Leads If you’re a real estate professional, no matter how successful you may be, you’re always looking for ways to generate leads. Finding new tools to do so isn’t always easy. Here’s one thing you can try: VOW. As we’ll explain, VOW offers a unique lead generation opportunity, as well as myriad benefits to your existing clients.  Some Brokers Really Suck My fear was that she had been kicked out of rotation for not responding to leads. This fear was unfounded. As it turns out, she was fine – but her broker sucks. He takes all of her leads. She burst into tears. 

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