WAV Group Shift in Real Estate Technology Webinar

The Shift in RealEstate Technology

Sponsored by: CoreLogic

Facilitator: Victor Lund Co-found Partner, WAV Group

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

Agenda• We will discuss three perspectives on the emerging

new trend in real estate technology.

• Mike Audet of the WAV Group will review the recent WAV Group whitepaper on “The Shift in Real Estate Technology”.

• Harper Thorpe of CoreLogic will outline how they are crafting their broker solutions to accommodate the new technology paradigm.

• Leading California Real Estate broker, Alan Scearce, will explain the business benefits of embracing the new strategy.

• Q&A


Participants• Mike Audet – Co-founder and Partner with WAV Group Co-founder & Chairman - RE Technology

• Harper Thorpe - VP Broker Services, CoreLogic

• Alan Scearce – COO, Prudential California Realty


Why Are Things Shifting?

• Pressure in industry has changed• Rules are all different• Pressure is causing real pain, real

problems• Technology has solved some problems• Technology has created new problems• Good technology today is about

“connections” and “data” as much as “features”

• Agents today need tools that match their world not big “brick and mortar


Key “Shift” Drivers

• Technology - the need for “Connections and Integration”

• Data – we need to connect to much more “Data” today

• The need to move beyond MLS limits

• The need for “Control”

• Usability - the need for “Ease of Use”


Agent Super Glue

The glue will be technology not buildings

The glue will be technology not buildings

Brick & Mortar

Technology


Our Old Technology World

•MLS was the center of our universe•Data needs and integration needs were minimal

MLS

MLSMLS

Agent WebAgent Web

Tax DataTax

Data

AgentProductivity

Tools

AgentProductivity

Tools

Broker Office

System

Broker Office

System

Broker WebBroker Web


The New Technology World

• Brokers will be at the center• Brokers will be the “data hub”

MLSMLS

Marketing

Tools

Marketing

Tools

Agent Web

Agent Web

Tax DataTax

Data

AgentProductivit

y Tools

AgentProductivit

y Tools

Broker Office

System

Broker Office

System

Broker Web

Broker Web

External Data

Foreclosures

REOsLists

External Data

Foreclosures

REOsLists

LeadsMarketin

g List Source

LeadsMarketin

g List Source


Agent Needs• CRM tools• Prospect management• Access to additional

market information, i.e. foreclosures, REOs

• Drip marketing • Lead generation• Flyers, brochures• Marketing campaigns• CMAs


Broker Technical Needs

MLS 2MLS 2 MLS 1MLS 1 MLS 3MLS 3

Any Real Estate FirmAny Real Estate Firm

Unique•Interface•Training•Forms•Data fields•Tax system•CMA•Statistics•Reports•Support






Company Website

Company Website

Internal Systems/Tools•Accounting•Back office•CRM•Document Mgt•Transactions•Showing system•Ad management•Market stats•Social media•Marketing•Lead generation•Lead management•Agent sites

Internal Systems/Tools•Accounting•Back office•CRM•Document Mgt•Transactions•Showing system•Ad management•Market stats•Social media•Marketing•Lead generation•Lead management•Agent sites

External Systems/Tools•Mortgage•Title•Foreclosure info•3rd party advertisers•3rd party sites•Franchise systems•International partners•Leads generation

External Systems/Tools•Mortgage•Title•Foreclosure info•3rd party advertisers•3rd party sites•Franchise systems•International partners•Leads generation

Large Real Estate FirmLarge Real Estate Firm


It’s All About Data• Not just MLS and tax data anymore• REOs• Foreclosure• Short sales• Marketing/sales lists• Leads• Sales trends• Valuations• Prospecting tools• Statistics• Demographics• Neighborhood• Lifestyle information• Rankings


Ideal Broker System

• MLS integration

• Broker is the hub

• Data flows freely

• Single or few different interfaces

• Control from Back Office to Web

• Agent Super Glue

Brokers

MLS 2

MLS 2

Lead MgtLead Mgt

MarketingTools

MarketingTools

Agent Web

Agent Web

Tax DataTax

Data

AgentProductivit

y Tools

AgentProductivit

y Tools

Broker Company System

Broker Company System

Broker Web

Broker Web

External Data

Foreclosures

REOsLists

External Data

Foreclosures

REOsLists

LeadsMarketing

List Source

LeadsMarketing

List Source

Doc MgtDoc MgtCRMCRM

Ad MgtAd Mgt Social MediaSocial Media

CMACMA

ML S 3

ML S 3

Tax DataTax Data

MLS 1

MLS 1

Tax DataTax

Data


Prudential California

• 5 MLSs• 285 agents• Agent Achieve• Key Benefits

Company wide contact management Communications to multiple clients/prospects easily Ease of education, brand company wide Company created marketing tools Recruiting and retention Multiple MLSs with single interface internally


Key Benefits• Cloud based• Control of brand across entire company• A single interface to train and support

agents on• Control over multiple MLSs when needed• Stronger lead generation and management• Single CRM/Contact management interface• Centralized marketing campaigns• Ability to create uniform lead generation,

presentations, forms, CMAs, brochures company wide

• Reduced data costs• Strong recruiting and agent retention tool• Agent Super Glue


Keys to Understand• Products have to be EASY

• Connections have to be seamless

• Agents need data not just products

• You have to Evangelize your solution

• Number 1 – commit to technology upgrade

A Strategic Approach to Software

The AgentAchieve StoryBy

Harper Thorpe


Harper Thorpe• VP Residential Real Estate Solutions,

CoreLogic

• 30+ years as a Sales and Marketing Executive

• Developed industry-leading value-based reseller programs at Hewlett-Packard

• Joined Sonic Eagle (AgentAchieve) in 2004, which was acquired by First American/ CoreLogic in 2006

Harper Thorpe


Leads &Contacts

MarketingTools

MLS &Prop Data

Agents

Real Estate Technology 1.0•Multiple systems and passwords•Duplicate data entry•No ties to broker or company•Different tools for each MLS

Before AgentAchieve - 2002


Agents

Real Estate Technology 2.0•Single sign-on and intuitive user experience •Integrated systems meant less data entry frustration•Technology became pillar in recruit/retain strategy•Operable across multiple MLSs

INTEGRATEDTOOLS

BR

OK

ER

PR

OV

IDED

SO

LUTIO

N

Real Estate Technology 1.0•Multiple systems and passwords•Duplicate data entry•No ties to broker or company•Different tools for each MLS

First to Market - 2003


Business Objectives - 2004Business Objectives - 2004

• Broker Relevance: Brand support and countering the forces that disintermediate the Broker’s role (Yes, it was an issue then as it is now)

• Agent Relevance: Viewed as expert by internet-savvy consumer (Remember when the internet was considered the enemy by many Realtors)

• Adoption: “The 12:00 is still blinking on the VCR” (Less true of user base everyday, but still our design mantra)

• Virtual Office: Fostering community among remote participants and enabling a mobile workforce (Already anticipating the evolving technologies)


Technical Requirements

• Agents must be compelled to use AgentAchieve

• Intuitive, consistent user interface

• Integrated / single sign-on solution

• “food and water”

• Broker must be able to configure AgentAchieve

• Match to Broker’s business practices

• Permission-based access to functionality

• Hierarchical and departmental deployment

• Broker, Office, Regional and Agent websites

• Company intranet, shared calendars and documents


AgentAchieve - 2005

Single sign-on = Delivered modularly but seamlessly integrated


Then and Now

• Who Are Our Broker Customers• Multifunctional organizations that can include important

revenue-generating divisions or partnerships that provide ancillary services

• What Do They Need• A data-rich, work-flow based application that creates unique

opportunities for Brokers to identify, target and manage revenue opportunities

• How We Must Deliver• Alignment with their sales, marketing, and business processes

that doesn’t require them to adapt to a vendor’s products and services to realize the benefits

• How We Can Help• Provide capabilities (including data) that “un-level” the playing

field in favor of Brokers


The New Technology World

MLSMLS

MarketingTools

MarketingTools

Agent Web

Agent Web

Tax DataTax

Data

AgentProductivit

y Tools

AgentProductivit

y Tools

Broker Office

System

Broker Office

System

Broker Web

Broker Web

External Data

Foreclosures

REOsLists

External Data

Foreclosures

REOsLists

LeadsMarketin

g List Source

LeadsMarketin

g List Source

• Enhancing the Broker’s value proposition to both agents and consumers

• Serving the Broker’s “remote” agent community

• Eliminating traditional boundary conditions both technical and geographic

• Giving our Brokers an unfair advantage through technology and data


Today’s Challenges

• Brokers need to differentiate themselves with agents and consumers

• Brokers need nurture their agent community via unified agent experience

• Brokers need to better manage expenses by targeting their sales and marketing activities

• Brokers need to provide consumers recommendations beyond the generally available data

• Brokers need to control service and brand everywhere including websites and social media interaction at all levels


AgentAchieve - 2011

ListSource

ProspectCheck Realist

CoreScore

ePropertyWatch

REAS

AgentAchieve


AgentAchieve - Building on a solid foundation•Systems that generate leads (hand-raisers not click-throughs)•Systems that prompt agent actions that convert leads•Agents compete and success is rewarded •Smarter solutions through data integration•Systems that support alternative financial models

The Future is Upon Us

Prudential California Realty


Alan Scearce

• Alan Scearce, Executive Vice President/Chief Operating Officer

• Strong marketing background

• Developer of one of first broker technology platforms

Alan ScearceEVP/COO


Alan Scearce

• Implemented Agent Achieve - November 2009

• 285 agents

• 5 Multiple Listing Services

Alan ScearceEVP/COO


Key Needs

• Control

• Contact management and CRM resource

• Lead routing

• Multiple MLS platform

• Marketing toolsAlan Scearce

EVP/COO


Key Benefit• Adoption – ease of use

• Single sign on

• Agents are in contact with customers and prospects

• Distribution of company wide marketing materials

• Consistent branding and compliance on agent websites

Alan ScearceEVP/COO


Contact Information

• RE Technology– Victor Lund – [email protected] 805-709-6696

• WAV Group– Mike Audet – [email protected] 716-839-4628

• CoreLogic– Harper Thorpe – [email protected] - 925-849-3750

Ext 101

mailto:[email protected]



The Shift in RealEstate Technology

Sponsored by: CoreLogic

Facilitator: Victor Lund Partner, WAV Group