Industry Insights, Reports & Thought-Leadership
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The member leadership of the National Association of REALTORS® will be considering a policy change related to MLS designed to eliminate pocket listings. The policy is 8.0 - called the Clear Cooperation policy. This topic was discussed in great detail at the 2019 Council of MLS meetings and met with widespread industry support.
A number of brokers have developed innovative platforms for sellers that fall under a commonly understood policy called Coming Soon that may be wiped out by this new policy change. This has many in the industry concerned about repercussions the 8.0 policy change could have for these coming soon programs.
Please download this white paper to review the considerations.
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"Coming Soon" is referred to as the time between the signing of a listing agreement with a seller and the go- live date in the multiple listing service. The National Association of REALTORS® MLS Policy does not provide a Coming Soon option, however this business practice is common in many market areas and a wide number of MLSs have a Coming Soon Policy today.The purpose of the WAV Group Coming Soon Policy Study is to help MLSs reflect the perspectives of brokers and agents in shaping Coming Soon policies.
Please download this white paper to review the considerations.
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In this paper WAV Group provides an overview and analysis of the five key tools available today to enable MLSs to provide Data Distribution Services: Trestle (CoreLogic), Spark (FBS Data), Bridge Interactive (Zillow Group), The MLS Grid, and MLS Aligned.
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Homebuyer Frustration Report Even under the most ideal purchasing conditions, buying a home can be a stressful process. The Homebuyer Frustration report asked homeowners who purchased during the post-pandemic housing market what caused them the most stress. It revealed many factors of stress that were particularly heightened during the recent seller’s market. Plus the report indicated that there were certain stressors that seemed to lead to not just buyer frustration but buyer’s remorse. Get the full report now to see how you can help your client’s avoid common areas of frustration.
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WAV Group is thrilled to present its latest report on the current state of AI adoption in the residential real estate industry, with a specific focus on ChatGPT. As buzzwords like AI and ChatGPT continue to dominate industry conversations, WAV Group set out to provide a comprehensive snapshot of how this technology is being embraced within the industry. To gather valuable insights, we conducted an extensive online survey targeting real estate agents, brokers, association members, and MLS staff. Through their responses, we discovered compelling examples of how agents are already harnessing the power of ChatGPT, and we're excited to showcase these use cases in our report. By exploring the innovative ways in which ChatGPT is utilized, you'll gain practical knowledge that can help you join the ranks of early adopters. We've also compiled a curated collection of the finest real estate technology companies that have integrated this transformative technology into their products and services. From powering cutting-edge features to driving innovative solutions, these industry leaders serve as shining examples of how AI, and particularly ChatGPT, can revolutionize the real estate technology landscape. Join us as we delve into the realm of AI in real estate, uncovering its current applications and paving the way for future possibilities. Be part of the movement by accessing our report and unlocking the immense potential that ChatGPT holds for your real estate endeavors. Use promo code “ChatGPT” at checkout to download your free copy.
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The Homeowners Under Management "Client for Life Reimagined" white paper, focuses on revamping the real estate industry's approach to retaining clients. Repeat and referral business plays a crucial role in the success of many real estate businesses, yet the emphasis on generating leads and conversions has often detracted from fostering strong agent-homeowner relationships, leading to low retention rates. This white paper delves into the crucial steps that can be taken to break away from the traditional transactional cycle and maximize the value of each client throughout their lifetime. Whether you are an individual agent or part of a brokerage, the strategies outlined in this paper can help you establish long-lasting, meaningful connections with your clients.
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WAV Group polled home buyers to better understand their perspectives about real estate commissions and the value their real estate agents deliver to them. The report explores homebuyers’ awareness, understanding and appreciation of how commissions work when buying a home. What is clear from the data is that buyers understand more of the process than they are often given credit for. Furthermore, transparency and consistent communication between agents and buyers led to higher levels of satisfaction.
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A New Definition of Professionalism was written to demonstrate how using verified sources for square footage can increase your Professionalism and reputation.
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Losing Top Agents and Teams to Disruptors? - Learn how Daniel Gale Sotheby's International Realty uses data to fight back!
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WAV Group Report 2024 - How Buyers Feel About Working With Agents As the real estate industry undergoes transformative changes precipitated by numerous lawsuits, prospective homeowners are increasingly questioning the traditional practice of engaging a buyer's agent. This report emphasizes the importance for agents to effectively communicate the value they bring to the table during the home purchase process. Key Takeaways: Clarity in Documentation: The study highlights a significant opportunity for agents to enhance buyer satisfaction by providing greater clarity around disclosures and paperwork. By actively guiding buyers through the intricate documentation required to purchase a home, agents can demystify a complex area that often leads to confusion among buyers. Time Investment Transparency: One notable finding is the lack of clear understanding among buyers regarding the time and effort invested by their agents in supporting their home purchase endeavors. The report sheds light on the importance of agents articulating and showcasing the behind-the-scenes work they undertake to streamline the buying process and secure the best outcomes for their clients. In a real estate landscape poised for change, the ability of agents to adapt and effectively communicate their value proposition becomes paramount. The report offers valuable insights for agents looking to navigate the evolving buyer-agent relationship successfully. In an environment where transparency and communication are key, agents who can address buyer concerns and showcase their expertise are positioned for success in the future real estate market.
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This paper will provide you with an understanding of the emergence of standards adoption from three different classes of our industry the brokerage class (Upstream, Dash), the MLS vendor class (Trestle™, Spark, The Grid ), and the technology vendor class (Bridge, Listhub).
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Stay ahead of the competition with cutting-edge real estate technology with WAV Group’s 2024 Brokerage Technology Roadmap. In our first report of a comprehensive four-part series, we map out the essential website tools needed for brokerages to compete effectively against industry giants and technology-driven firms. Discover the key components, including parcel-centric databases, MLS VOW, data aggregation, Elasticsearch for enhanced property searches, and a strategic website topology strategy. Gain actionable insights to propel your brokerage forward in 2024 & beyond.
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Ocusell is a new technology firm that is solving an old problem for the real estate industry. Learn more about their solution by using the free coupon code - Ocusell
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Are you ready to gain invaluable insights into the evolving landscape of Fair Housing in the real estate industry? Look no further. Our comprehensive report delves deep into the experiences of recent home shoppers, shedding light on their homebuying journey and uncovering instances of discrimination. In this insightful report, real estate agents and brokers will discover the frustrations faced by buyers, particularly in multiple-bid scenarios. Learn how to navigate these challenges effectively while safeguarding your clients from potential Fair Housing issues. One striking finding from our survey: A substantial 38% of respondents felt they encountered discrimination during their recent homebuying attempts. This statistic underscores the urgency of addressing Fair Housing concerns within the industry. Don't miss out on the opportunity to enhance your knowledge and make a positive impact. Take action today by downloading the 2023 WAV Group Fair Housing Survey Report. Equip yourself and your agents with the information and strategies needed to create a more inclusive and equitable real estate experience for all. Download now and be part of the change!
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Stay ahead of the competition with cutting-edge real estate technology with WAV Group’s 2024 Brokerage Technology Roadmap. In our second report of a comprehensive four-part series, we map out the essential ingredients for an effective company intranet. A well appointed intranet is the gateway to increased agent adoption of the tools your business offers them and can lead to increased productivity and profitability Discover the key components such as email integration, single sign-on, and commission tracking along with several other recommendations for you to get the most out of your Brokerage technology stack. Gain actionable insights to propel your brokerage forward in 2024 & beyond.
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Unlock the power of data with WAV Group's 2024 Brokerage Technology Roadmap Part 3: Data Management. In this comprehensive report, we provide invaluable insights into crafting a robust data collection policy and strategy tailored specifically for real estate brokerages. From leveraging diverse methods of data collection to ensuring compliance with international standards like GDPR and CCPA, this report equips you with the tools and knowledge needed to enhance operations, improve decision-making, and foster trust among stakeholders. Navigate the complexities of data security, privacy, and licensing agreements with confidence, guided by industry-leading expertise. This report is your roadmap to success in the data-driven landscape of real estate. Download your copy today and chart a course towards sustainable growth and innovation. Gain actionable insights to propel your brokerage forward in 2024 & beyond.
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Increase your agent product engagement with WAV Group's 2024 Brokerage Technology Roadmap Part 4: Training and Support. In this final installment, we provide invaluable insights into agent technology adoption and the systems that you can implement to maximize your investment in technology. Learn how to effectively communicate product updates and enhancements to ensure maximum user engagement. Explore best practices for training programs that drive adoption and productivity across your organization. Elevate your brokerage's technology game by downloading the full report today and gain valuable insights to enhance user experience and drive software adoption. Gain actionable insights to propel your brokerage forward in 2024 and beyond.
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General Data Protection Regulation (GDPR) compliance crisscrosses every business in the real estate industry. Yes, it’s another acronym and it is not tech driven. Well, almost not tech driven.
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Navigating Fair Pricing for Open MLS Access As discussions intensify around expanding MLS access to all licensees—driven by recent lawsuits—many associations and MLSs are reevaluating their pricing structures. While some are moving toward equitable pricing for REALTORS® and non-REALTORS alike, others are setting much higher fees for identical services. This approach raises significant compliance and fairness questions, especially under the new NAR Anti-Trust Settlement. Avoiding Price Discrimination with Open MLS Subscriptions from WAV Group offers a best practices guide for associations to structure fair, justifiable pricing. This resource provides clear steps to document any additional service costs and avoid potential antitrust risks. Download the Guide Today and make informed decisions that protect your organization and promote inclusivity across your market. Use promo code "MLSpricing" at checkout for a free copy.
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Real estate brokers often juggle an overwhelming number of commission plans, resulting in what WAV Group calls “Compensation Complexity Syndrome.” This issue not only complicates financial management but also impacts profitability. WAV Group’s whitepaper introduces “Commission Analysis as a Service” (CAaaS), a data-driven solution designed to streamline and optimize commission plans. By leveraging the Commission Analysis Prediction (CAP) tool, brokers can consolidate plans, aligning agent compensation with performance while improving the brokerage’s bottom line. This whitepaper outlines the five key scenarios where CAaaS provides critical insights, including mergers, market expansions, and recruiting strategies. Through case studies, it demonstrates how consolidating commission structures can increase revenue without disrupting agents. Discover how CAaaS can transform your commission management, enhance profitability, and maintain agent satisfaction. Download now to explore actionable strategies tailored to today’s competitive real estate market. Use promo code “CAP” at checkout for a free copy.
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The WAV Group 2023 Brokerage Technology Study is a comprehensive survey that provides insights about the impact and perceived business generation value of their respective technology suites. This report is an essential resource for brokers and MLSs looking to stay ahead of the competition by improving their technology solutions, addressing issues with data integration, and increasing technology engagement. This study covers technology offerings, satisfaction, perceived value, interoperability, and technology awareness and engagement. The 2023 Brokerage Technology Study is now available for purchase, providing access to valuable insights and actionable recommendations that can help drive business growth. Don't miss out on this opportunity to gain a competitive edge in the real estate market. Order your copy of the WAV Group 2023 Brokerage Technology Study today! For a look at how technology trends have changed, previous editions of the WAV Group Brokerage Technology Study can be found found here: 2014 WAV Group Brokerage Technology Study 2010 WAV Group Brokerage Technology Study
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The 2021 WAV Group Transaction Management Interoperability Study revealed brokers have strong interest in the ability for Digital Transaction Management systems to pass data seamlessly for the brokerages representing two sides of a transaction. Today, brokers have to enter data in as many as 9 or 10 systems, creating inefficiency, added cost and increased chances of inaccurate data. According to the study, nearly 3/4 of brokers would like to enter data into one system, either at the MLS or brokerage, and then seamlessly pass the information to other systems. Use Promo Code: WAV2022 through the end of the year to get free access to this report.
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As a sailor, I can tell you that a rudderless boat is hard to steer. It takes a lot of expert sail trimmers to keep control of the boat. From my perspective, Listing Syndication is a rudderless boat with bad trimmers, and the boat is way off course.
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WAV Group - 2024 Brokerage Technology Roadmap. In this comprehensive four-part report, we map out the essential technology tools and integrations needed for brokerages to compete effectively against industry giants and technology-driven firms. The roadmap starts with essential customer centric website features and takes your business through the backend data management your team is looking for to be successful.
Gain actionable insights to propel your brokerage forward in 2024 & beyond.
Purchased separately is a $200 value - Now for just $50
Part 1: We map out the essential website tools needed for brokerages to compete effectively against industry giants and technology-driven firms. These include parcel-centric databases, MLS VOW, and a strategic website topology strategy. Part 2: We focus on the pivotal role of the company intranet in driving agent adoption and productivity, offering invaluable tips on email integration, single sign-on functionality, and commission payment portals. Part 3: We explore the complexities surrounding data collection policies, storage solutions, API management, data visualization, and reporting procedures tailored to real estate brokerage management teams. Part 4: Finally we provide invaluable insights into agent technology adoption and the systems that you can implement to maximize your investment in technology. -
Your MLS organization is not immune to the “new normal.” Remote work was a growing trend before the pandemic made it an essential part of day-to-day operations for the industries that could manage it. Now that vaccines are available and COVID-19 protocols are changing, the question that many industries are dealing with is whether they should continue to work remotely or not. The real estate industry is one that was able to successfully navigate the pandemic shut downs and now must answer the reopening question. WAV Group has surveyed over 100 MLS and associations about how they are evaluating and answering this very important question that will shape the new normal for years to come.
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Site licenses have created a circumstance where the many (all MLS subscribers or brokerage agents) are paying for services used by the few that use a service.
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This paper addresses the impact of allowing indexing of IDX listings and the unclear language in the NAR policy.
