MLS Insights Archives

The Speed Of Need
Gallery
The Speed Of Need

Main category, MLS Insights, Strategic Planning

The Speed Of Need

We know that companies are created when they meet the needs of their customers. But, what we fail to understand is the nature and complexity of Need. Need is a singular thing that is driven by a vast array of attributes. The most common attributes are Price, Functionality, Customer Service, and Relationship. But there is a new attribute of need which I call the Speed of Need. Price is a fundamental attribute of need. Customers must be able to afford a product or service if it is ever going to fulfill the need. Functionality is another fundamental of need. Even [...]

By Victor Lund|2018-05-03T21:24:16-07:00March 10th, 2014|Main category, MLS Insights, Strategic Planning|Comments Off

New Listing Alerts Favor Portals

Sometimes you really need to dig into the nitty-gritty details of something to understand how home shoppers behave and why they make choices when using online property information websites. For this particular case study, I am looking for a multi-unit residential complex in North Hollywood, CA. The Dynamics I am working with a REALTOR® - actually a team of REALTORS®. They “found me” through a sign call when I was driving neighborhoods. My needs – An investment property that is walkable to dance studios since parking is horrid. Parking. Cash-flow neutral with 25% down. Safe neighborhood. North Hollywood is part of [...]

By Victor Lund|2018-05-03T21:24:16-07:00March 10th, 2014|Main category, MLS Insights, Technology Evaluation|1 Comment

ePropertyExtra from CoreLogic

CoreLogic sent out an email recently about eProperty Extra that was forwarded to WAV Group by numerous MLS with tons of questions. Rather than answer each of them individually, here is an overview that may be helpful in understanding the program so that you may facilitate a consideration by your board of directors. What is it? eProperty Extra is a rewards and loyalty program. 30,000 brands make their products available at a discount. Moreover, users get points when they buy through the program that can be exchanged for other benefits and merchandise. Agents will save money on many of the [...]

By Victor Lund|2016-06-30T05:16:31-07:00February 24th, 2014|Main category, MLS Insights|Comments Off

Hybrid Regionalization – Right For Your MLS?

We all know there are too many MLSs in the US and over the years the real market areas have expanded forcing agents to belong to multiple MLSs in many areas. This means more costs, data inefficiencies and often the need to learn and operate multiple MLS systems. It isn’t good for brokers, agents or consumers so why hasn’t their been more consolidation of MLSs more quickly? The answer, of course, is protectionism. Even though consolidation would be in everyone’s best interest there is still a local desire to maintain control and identity at the MLS level. Brokers also worry [...]

By Victor Lund|2018-05-03T21:24:17-07:00February 10th, 2014|Main category, MLS Insights, Our Services, Technology Evaluation|4 Comments

Brokers Should Update Their Contracts Now!
Gallery
Brokers Should Update Their Contracts Now!

Broker-Agent Information, Main category, MLS Insights

Brokers Should Update Their Contracts Now!

Brokers and agents can protect their online reputation with a small change in their contracts with consumers and terms of use on their websites. If you have not taken a look at the HomeActions newsletter recently, you should. They write consumer articles that brokers or agents can send as newsletters or blog posts to their customers. It is one of my favorites. In today's issue, they talk about the potential liability that a consumer may face if they publish a negative review about a service provider. In essence, companies are requiring customers to agree not to publish any negative remarks [...]

By Victor Lund|2018-05-03T21:24:18-07:00January 23rd, 2014|Broker-Agent Information, Main category, MLS Insights|1 Comment

Why Brokers Get Upset With Their MLS

Some of our time at WAV Group involves supporting brokers and their technology vendors at problem solving. Yesterday we encountered an issue with the data feed to a vendor. The vendor claimed that everything was working. The broker knew this was not the case. So we got on a call and did a screen share to match the listings in their system to the listings in the MLS. The marketing staff member for the broker is not a savvy expert of using the MLS. But the broker does pay associate fees every month so she has access and she goes [...]

By Victor Lund|2018-05-03T21:24:18-07:00January 22nd, 2014|Broker-Agent Information, Main category, MLS Insights, Our Services|1 Comment

Agent Responsiveness Study Reveals Critical Flaws in Real Estate Lead Response

A new whitepaper reveals that failure to respond to leads in a timely manner is a major problem for many real estate professionals. The whitepaper is the result of the collaboration between partners at leading consulting firm WAV Group and Weichert Lead Network, the Internet lead generation arm of Weichert, Realtors. What they uncovered was remarkable and could help real estate professionals achieve new levels of service and prosperity. Download the complete report here. In the whitepaper, WAV Group details lead responsiveness results from a sample of 384 different brokers across 11 states. Researchers posed as consumers and inquired about [...]

By Victor Lund|2025-03-04T13:42:57-08:00January 13th, 2014|Broker Technology Research, Main category, MLS Insights, Our Services, Reports|9 Comments

Your MLS Technology Business Rules – Bet You Don’t Know Them!

I have worked with hundreds of MLSs around the world and been personally involved in over 100 installations and/or conversions and one thing I have discovered over the years is a little-known fact. MLSs don’t know the business rules that are built into their MLS systems to control their data, member access and overall permissions and MLS vendors have never created a way for you to see them! When you consider the complexity of our MLS systems today this is both understandable on one level and really inexcusable on another. Unfortunately, this lack of knowledge usually comes to light when [...]

By THE WAV GROUP|2018-05-03T21:24:19-07:00January 12th, 2014|Main category, MLS Insights, Our Company, Our Services, Strategic Planning|Comments Off

Swanepoel Publishes Power 200 List of RE Executives

Stefan Swanepoel is best known for his engaging conference lectures and the running line of Swanepoel Trends Reports that has published since 2006. This year, Swanepoel partnered with Rob Hahn, Chris Nichols, Kelly Mitchell, Michael McClure, Susan Browne, Michael Krisa, and Shannon Musgrove to produce a new publication called the Swanepoel Power 200, The most Powerful People In Residential Real Estate in 2013. These types of lists were made famous by Forbes Magazine, the publisher who releases 52 Top lists a year, including Rich Lists, Top Companies, People, Investing, Places, Sports, Technology, and Education. I spoke with Swanepoel for a [...]

By Victor Lund|2018-08-20T06:12:08-07:00January 9th, 2014|Main category, MLS Insights, Press Releases|Comments Off

MRIS Tackles Coming Soon Listings

MRIS is among the few multiple listing services in the country that manage their own listing input system. Keystone, developed, owned and operated by MRIS, gives MRIS the ability to respond directly to subscriber needs for innovative listing management tools. Often, third party vendors have a difficult time responding to local market needs, in particular when it comes to listing input solutions. Based on market research, MRIS has been, and continues to, progressively update and enhance Keystone using a phased approach. Keystone provides an easy to use intuitive user experience to input and maintain listing data and facilitates the easy [...]

By Victor Lund|2018-05-03T21:24:19-07:00January 6th, 2014|Broker Technology Research, Main category, MLS Insights|Comments Off

NAR REach Program Accepting New Applicants

Here is a note from Constance Freedman, Managing Director of NAR's venture capital arm, Second Century Ventures. If you have a business that would benefit from NAR support, be sure to submit your application. It is an online process at www.narreach.com On 01/06/14 12:42 PM, Constance Freedman wrote: -------------------- Friends, Applications for NAR’s 2014 REach™ class are now open - please help us spread the word! REach™ is a strategic accelerator launched last year in conjunction with the National Association of Realtors® to help great technology companies gain access to the $1 trillion real estate industry. The opportunity for companies to [...]

By Victor Lund|2018-05-03T21:24:20-07:00January 6th, 2014|Broker Technology Research, Broker-Agent Information, Main category, MLS Insights, Press Releases|Comments Off

Brokers Should Audit Their MLS

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 [...]

By Victor Lund|2018-05-03T21:24:20-07:00December 30th, 2013|Broker Technology Research, Main category, MLS Insights, Strategic Planning, Technology Evaluation|Comments Off