Broker Profitability POD concept

This may be the real future of real estate brokerage. You will need to endure a series of short product stories to understand the POD concept for real estate brokerage. The coffee industry hit a home run with coffee pods. As it turns out, consumers would be happy to pay more for coffee if they do not need to deal with filters, scoops, and cans. The coffee pod industry was able to sell less coffee for a higher price by offering convenience. The pod revolution did not end with coffee. The rather smart dudes and dudettes at P&G took one [...]

By |2018-05-03T21:24:44-07:00December 20th, 2012|Broker Technology Research, Broker-Agent Information, Main category, Strategic Planning|1 Comment
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Adding Broker and Agent Branding to Syndication

The gray skull of shame is the single most tarnishing factor of an agent’s online reputation. Yet today, more than 30% of listings on leading third party websites are missing photos or display incorrect contact information about the agent. There is absolutely no reason for this to happen. Today, listing syndication service providers and MLSs can fix this with ease. In truth, no change in real estate data is easy. Unless there is profit motivation, change takes place at a very sluggish pace. In order for agent and broker branding to be added to syndication, standards need to be developed. [...]

By |2018-05-03T21:24:47-07:00November 28th, 2012|Broker Technology Research, Broker-Agent Information, Main category|Comments Off on Adding Broker and Agent Branding to Syndication
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Zillow expands rental offering with Hotpads acquisition

Market leading real estate publisher Zillow expanded their footprint by entering into an agreement to purchase Hot Pads today. The strategy behind the acquisition seems squarely aimed at conquering a larger audience of real estate consumers, namely consumers interested in rental properties. In October, Hotpads had nearly 2.8 Million Unique Visitors. Depending on how you add up traffic to Zillow and their other sites like realestate.yahoo.com, it adds up to less than a 5% increase in traffic. Moreover, Zillow picks up highly skilled staff that understand the real estate portal business, and how to manage data. Although Zillow already has [...]

By |2018-05-03T21:24:47-07:00November 26th, 2012|Broker Technology Research, Broker-Agent Information, Main category, MLS Insights|Comments Off on Zillow expands rental offering with Hotpads acquisition
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Data Only Brokers

There are lots of brokers who subscribe to MLS services. They are called participants, and as participants they are provided data rights beyond agents, and way beyond vendors or third parties. Moreover, participants are the nucleus of reciprocal offers of compensation, an agreement that if one broker represents a willing buyer and the other broker represents a willing seller, they will share compensation. There is a new brokerage model that has entered the MLS sphere, and I am not sure if it is a good thing or a bad thing. I will call this type of brokerage a "Data Only Broker" or [...]

By |2018-05-03T21:24:47-07:00November 20th, 2012|Broker Technology Research, Broker-Agent Information, Main category, Marketing, MLS Insights|9 Comments
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Attention Brokers – Learn how to take back the web from third parties!

While brokers have lots of technology tools at their fingertips today, a high impact website is still a critical tool driving success for any size real estate company.  Third parties continue to gain traction and traffic with consumers because they know what consumers are looking for and they deliver on their needs consistently!  If brokers want to become THE source for real estate consumers, they need to find ways to enhance and re-invent their own web presence. Brokers also need to learn about how to use their online presence to nurture new customer relationships for their agents. RED and RE [...]

By |2018-05-03T21:24:48-07:00November 1st, 2012|Broker Technology Research, Broker-Agent Information, How to Make Strategic Planning Really Work in your MLS, Main category|Comments Off on Attention Brokers – Learn how to take back the web from third parties!
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Point2 encourages publishers to play nice

Yardi subsidiary, Point2 is changing its data distribution policies to align with what it believes to be the interests of MLSs, Associations, Brokers and agents in the US, similar to what it has introduced in Canada with the Canadian Real Estate Association (CREA). Since Yardi purchased Point2, they have renewed determination to protect the data rights of agents, brokers, and their partner Associations of REALTORS(r) and MLS. In the past, the default distribution setting for Point2 has been broker-opt out rather than broker opt-in.  WAV Group has never been in favor of Broker Opt-out programs. Broker opt-out means that unless notified [...]

By |2018-05-03T21:24:48-07:00October 31st, 2012|Broker Technology Research, Broker-Agent Information, Main category|1 Comment
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How MLSs and MLS vendors are failing brokers

Let me begin by saying that the remarks that follow do not apply to all MLSs. There are many that do an excellent job at servicing the data needs of brokers. The focus of this article is to talk about some of the common failures seen by WAV Group consultants trying to help brokers fix complex data problems. There is a fundamental understanding of the MLS which has been lost. Although MLS systems provide excellent services through the MLS software, many are failing at providing data services to the brokers and agents to power the many applications that live outside [...]

By |2018-05-03T21:24:48-07:00October 31st, 2012|Broker Technology Research, Broker-Agent Information, Main category, MLS Insights|Comments Off on How MLSs and MLS vendors are failing brokers
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Berkshire Hathaway HomeServices

Today, a new brand was born - Berskshire Hathaway Real Estate. Brookfield, Real Living and Prudential have combined forces with Berkshire Hathaway HomeServices to create our industry’s newest national brand. This seems to be the first time the Berkshire Hathaway brand will be used in a consumer facing industry. I am pretty sure that this network of brokerages has a significant market share in every metropolitan city in America. Why this is important: Some of the Prudential Franchises were a little disturbed when they learned about the Sunset of the Prudential Real Estate brand - they are smiling ear to ear now. Moreover, some of the [...]

By |2018-05-03T21:24:48-07:00October 30th, 2012|Broker Technology Research, Broker-Agent Information, Main category, Press Releases|2 Comments
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MLS Listings to host Broker Summit

Broker Symposium: Engaging the New Consumer Techmart Santa Clara  |  November 2, 2012 When:  Friday November 2, 2012 from 8:30 AM to 12:00 PM PDT   Where: Techmart Santa Clara 5201 Great America Parkway Santa Clara, CA 95054 Get Driving Directions Add to my calendar   Dear Myra, Please join us Friday, November 2 for a series of panel discussions centered on the new consumer, featuring local real estate media, top producing brokers and leading industry best practices consultants and of course, the target market itself. Event emcee: Robert Bailey, Bailey Properties 2012 Chairman, MLSListings Inc Hear directly from buyers [...]

By |2018-05-03T21:24:49-07:00October 22nd, 2012|Broker Technology Research, Broker-Agent Information, Main category, MLS Insights, Press Releases|Comments Off on MLS Listings to host Broker Summit
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How A Top Agent Views Technology

Justin Havre is a real estate agent in Calgary Alberta working at CIR Realty.  CIR is the largest independent firm in Canada with about 650 agents.  With his team, Justin Havre & Associates, he has been number one or two in his Brokerage over the last three years.  To put it in perspective, in 2011 they were number 1 and closed 171 sides with an average price in Calgary of about $430,000.  I sat down with Justin recently at a Technology Conference put on by his web technology provider, Real Estate Webmasters, to find out how technology fits into his [...]

By |2018-05-03T21:24:49-07:00October 22nd, 2012|Broker-Agent Information, Main category, Technology Evaluation|Comments Off on How A Top Agent Views Technology
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ListHub’s API and Golden Ruler Report Helps a Broker

There are all kinds of reasons why a company wants analytics on the performance of their online marketing. Listhub provides this service to brokerages that use their syndication services. The fee for the service is typically just a few dollars per month per agent, but it will track where your listings appear online – for better or for worse. WAV Group has gained an appreciation for the reporting by reviewing MLS level reports that show a federated view of all listings syndicated in the market through Listhub. I will be using these reports in my upcoming talk at the Colorado [...]

By |2018-05-03T21:24:50-07:00October 5th, 2012|Broker Technology Research, Broker-Agent Information, Main category, MLS Insights, Suveys and Research|Comments Off on ListHub’s API and Golden Ruler Report Helps a Broker
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Your company is a mess and that’s ok

If you look around your business and recognize a mess, everything is probably working a lot more smoothly than you imagine. It sounds counter intuitive, but companies that are progressive and evolutionary are likely to have many things left undone. Here are three things that you are likely to recognize in your company that are unseemly, but good. Wrong People There is no such thing as a perfect business team. When you evaluate your team, you will recognize that they all have strengths and weaknesses. Everyone is always working on improvement in some area of their professional responsibility. In today’s [...]

By |2018-05-03T21:24:52-07:00September 17th, 2012|Broker Technology Research, Broker-Agent Information, How to Make Strategic Planning Really Work in your MLS, Main category, Product Management, Strategic Planning|Comments Off on Your company is a mess and that’s ok
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