New Study Reveals Increased Transparency Leads to Increased Value
WAV Group’s new Buyer Agent Commission Study reveals many insights from buyers about their awareness, understanding and appreciation of how commissions work when buying a home.
California Legislature Approved 4 New Bills to Support Building Millions of Units of Affordable Housing in Commercial Corridors
California, like many states, suffers from a lack of affordable housing. According to the California Department of Finance, the median price of a single-family home in May 2022 in California was $898,980, up a significant 1.6% over the previous month and an increase of nearly 10% over the same time last year. AB 2097, amounts to a statewide boost to residential and commercial development near public transit. The bill prohibits local municipalities from imposing any minimum car parking requirements for projects located within a half mile of metro, bus, or other transportation centers. AB 2221, incentivizes ADU(Accessible Dwelling Unit) construction by clarifying rules around “granny flats”. Under existing law, developers are allowed to add the units only to existing multifamily buildings. AB 2221 extends that allowance to proposed projects. It also clarifies local agencies’ timelines for approving ADU, or accessory dwelling units, projects and raises certain height limits, and other changes.
MLS Leaders: Pay Attention to These 3 Key Measurements
There is a saying that goes, “The squeaky wheel gets the oil.” From a repair perspective, that is a good rule to follow, but far too often organizations let the “squeaky wheel” drive important strategic decisions that affect the future direction of the MLS or association. I have seen this happen many times first-hand while creating hundreds of strategic plans for organizations over the years and as an advisor for the Louisiana's broker-owned MLS, Greater Southern MLS. While customer feedback and interviews play an important role in understanding your challenges, as leaders on the board of directors, or in the executive offices, it is crucial that you temper what you hear with real numbers. WAV Group’s Customer Experience Index (CXI) is the first industry wide standard collecting and comparing numbers for MLSs across markets.
Five Easy Steps to Turn a Disgruntled Subscriber into a Raving Fan
From WAV Group’s over 20 years of fielding MLS and association customer satisfaction surveys, and from the launch of our new program the WAV Group Customer Experience Index, we have learned a lot about how to use survey results to turn a disgruntled subscriber into a raving fan. Here is a time-tested process that sometimes takes your worst critic and turns them into your most loyal supporter.
Greater Southern MLS proves that training promotion CAN move the needle on engagement and satisfaction.
When we launched the WAV Group Customer Experience Index for MLS late last year, we were excited by all the insights and trends we knew this valuable program would uncover. We have learned that participation in training has a major impact on overall subscriber satisfaction. Analysis revealed that those that attend MLS training registered higher satisfaction across the board.
Bright MLS simplifies workflow for their 100,000+ customers
Agents know that photos are one of the key ways to effectively promote a property, yet many limit the number of photos they upload to the MLS because the process can be very onerous. Bright MLS, after soliciting input from their subscribers about the best ways to simplify the process of setting up a listing, has made it a LOT easier to upload photos now.
Rapattoni MLS Software adding Restb.ai computer image technologies to automate engaging photo descriptions and more
For the second time in as many days, restb.ai is announcing a second MLS partnership. Rapattoni MLS, a leading provider of MLS software, is making it easier for agents to provide in-depth, SEO-friendly photo descriptions for their listings.
bridgeMLS making property search richer and more engaging with Restb.ai
bridgeMLS has partnered with Restb.ai to be able to extract more relevant details out of each photo in their database. By using the artificial intelligence delivered by Restb.ai’s computer vision, agents will be able to search for homes with much more granularity.
Minimize Buyer Frustration with Effective Financing Education and Preparation
Money may or may not buy happiness, but you for sure need it to buy a house. For most people that means getting a mortgage. Thirty-five percent of frustrated homebuyers in the WAV Group Homebuyer Frustration report pointed to the mortgage process being a source of their frustration. One respondent in the study suggested, “There needs to be more workers in the mortgage field to make it run faster.”
Minimize Buyer Frustration with Adequate Education Upfront
The WAV Group’s recent study on homebuyer frustration reveals many pain points that homebuyers have been experiencing in the recent seller’s market. While some of the frustration is unique to the market conditions of 2020 and 202, like multiple bid situations, there are still many insights that can help agents prepare their clients for the process regardless of market conditions.
72% of Recent Homebuyers Report Feeling Some Level of Frustration with Their Home Purchase.
It is often said that for most people buying a home is the single largest purchase of their lives. A decision of that magnitude should be made with time and careful consideration, but recent buyers have been rushing from one house to the next, making offers as quickly as they can. It should be no surprise then that the chief complaint revealed in the WAV Group Homebuyer Frustration Report was feeling rushed to make an offer on the house, with 49% of frustrated buyers pointing to this issue.
Maine Listings is looking for a new CEO
Maine Listings, based in South Portland, Maine, one of the oldest and most progressive statewide Multiple Listing Services in the country is seeking a new Chief Executive Officer to run its 6,800+ member association-owned MLS.