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Research to Reveal Technology Adoption and Who Pays

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Real Estate research firm WAV Group has launched a study to uncover how agents gain access to technology along with technology adoption by product category. This research is believed to be the first of its kind.

The National Association of REALTORS® has performed research that indicates that the real estate technology industry is a $6 Billion industry in America. However, the details of how that breaks out into product categories are not well understood. One of the primary goals of the research is to understand what percentage of brokers or agents use which technologies. For example, what percentage of agents have a website with IDX?

The second goal of the research is to measure how professionals gain access to the technology solutions that they use today. There are a lot of overlapping categories that provide or sell technology to agents. If you look at a category like document management, you find that solutions are available from Associations of REALTORS®, Multiple Listing Services, Franchise Organizations, Brokerages, or direct to agents. The research not only seeks to understand the categories of technology adoption, but how each delivery channel is fulfilling the need of the practitioner.

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.

Victor Lund, partner at WAV Group explains, “I read piece from Budge Husky of Coldwell Banker in the recent Swanepoel Trends report that stated that companies are not staying in their swim lanes. This study is to benchmark where those swim lanes are today on a category by category basis.”

WAV Group is inviting the entire industry to participate in the study. The more data they can collect, the more accurate the results. Partners who are publishing the link to the survey include leading MLSs, Associations, and networks like The Realty Alliance and Leading Real Estate Companies of the world.

Responses to the survey is confidential and participants will receive a copy of the results at no cost. Please support this effort by completing this survey.

As real estate agents and brokers strive to develop process to improve every area of their trade, technology supports them. However, with so many solutions, it is difficult to understand what solutions count the most and to whom.

Think of the long list of solutions – website, lead management, CRM, drip marketing, email marketing, CMA, email, transaction management, document management, online advertising, SEO, listing syndication, tax systems, mobile solutions for everything, scheduling software, accounting systems, market stats, digital signatures, forms software, recruiting tools. It is quite a list.

The goal of the Broker Technology Adoption Survey is to understand who uses which tools and their satisfaction level with them. Who buys them? The agent? The broker? The Franchise? The Association? The MLS? All of them? Some of them? None of them?

Understanding these tendencies will provide the industry with a better grasp of the role that technology plays in real estate, along with who we look toward to finding the solutions practitioners need to be successful in real estate today.

Please share this link in your organization. We will run the survey for a few weeks and compile the results of the data into a report that will be provided to you with our compliments by email.

For more information, visit www.WAVGroup.com.

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