If you have been following our Brokerage Technology Roadmap series, you have now assembled all the necessary pieces to build an impressive tech stack for your business. However, the effectiveness of these technology solutions relies heavily on how well they are communicated and adopted by users.
As technology continues to redefine the landscape of the real estate industry, brokerages are increasingly relying on data-driven strategies to stay ahead of the curve. In the latest installment of WAV Group's 2024 Brokerage Technology Roadmap, Part 3 dives deep into the critical realm of data management. Let's explore the cornerstone of data management outlined in this report: creating a robust data collection policy and strategy.
It’s not at all unusual for MLS organizations to be disappointed by the limited adoption of MLS tools among top-producing members. Despite the undeniable benefits these tools offer, many power users seem reluctant to fully embrace them. Since top producers are the ones driving the success of a real estate market, it is imperative to find ways to engage them with training designed for the unique needs of those that complete several transactions per month.
In the ever-evolving landscape of the real estate industry, Multiple Listing Service (MLS) executives face a myriad of risks that have the potential to disrupt operations, tarnish reputation, and compromise data integrity. In such a dynamic environment, proactive risk management is not just advisable — it's imperative. In this article, we'll explore the importance of “scenario planning,” or anticipating and mitigating the worst-case scenario within MLS organizations, and we’ll outline strategies for fostering a culture of preparedness and adaptability.
This latest announcement from Local Logic and homegenius underlines the expanding trend of deepening engagement real estate search by providing deep local insights. Gone are the days when search just includes beds, baths and price points. Consumers have an insatiable appetite for information regarding the region, neighborhood and individual property. They spend hours looking at Floor Plans, Days on Market and taxes and they really want to better understand every element of the neighborhood they may be buying into.
In 2023, we asked over 250,000 agents and brokers how interested they would be in statewide lockbox access where they hold a license. Nearly ¾ of respondents (72%) across multiple markets want statewide lockbox access.
Part 2 of the report sheds light on the pivotal role played by the company intranet in driving agent productivity and facilitating product adoption. Building an effective intranet involves careful consideration of various factors, including email integration, single sign-on functionality, and commission payment portals.
MLS executives deeply understand the critical role compliance plays in maintaining data accuracy and integrity within their systems. Through the hundreds of thousands of subscribers we have surveyed via the WAV Group Customer Experience Index, we have noticed a correlation between the severity of the tone of compliance communications and overall MLS satisfaction. The way that an MLS communicates compliance issues to its members can significantly impact their perception of the organization and the strength of their collaborative relationship. Finding the right balance between creating a sense of urgency and duty, and angering or frustrating subscribers is a very difficult line to draw.
While supply is still limited and approximately ¼ of homes are still receiving multiple offers, homeowners are still hesitant. They do not believe there is enough demand for their home to warrant selling it. Here’s one simple way to counter that belief and demonstrate strong home buyer interest.
I think we can all agree at this point that keeping up with technological advancements is no longer a choice but a necessity for success. However, amid the excitement of embracing new technologies, the practical application often gets overlooked. This oversight can hinder agents from leveraging technology to its full potential, especially when it comes to optimizing the sales process.
Real estate agents and brokers are no strangers to the challenges posed by multiple listing service (MLS) systems operating across different regions. This was highlighted in recent results from the WAV Group Customer Experience Index survey, which revealed agents’ and brokers’ desire for consistency in rules and regulations across all MLS systems statewide.
According to a recent NAR study, 38% of all MLSs offer non-REALTOR subscriptions and 61% of larger MLSs have taken this step. The multiple listing service (MLS) plays a crucial role in facilitating property transactions. However, a common concern arises when MLS includes non-REALTOR subscribers: how are the principles of the REALTOR® Code of Ethics upheld in such instances? Since non-REALTORS are not obligated to adhere to the code of ethics like REALTORS are, how do MLS entities ensure ethical standards are maintained across the board?
