WAV Group Releases 2024 Brokerage Technology Roadmap, Part 2: The Intranet
The WAV Group's 2024 Brokerage Technology Roadmap is a comprehensive guide designed to empower brokerages in maximizing profitability, streamlining operations, and fostering increased agent productivity and consumer engagement. This four-part series provides invaluable insights into leveraging technology effectively within the real estate industry. Part 2 of the report sheds light on the pivotal role played by the company intranet in driving agent productivity and facilitating product adoption. Building an effective intranet involves careful consideration of various factors, including email integration, single sign-on functionality, and commission payment portals. Email Integration Integrating email services into the intranet is paramount for driving adoption among agents. Given that professionals typically start their day with email, seamless integration ensures that the intranet becomes an indispensable tool in their daily workflow. Single Sign-On Password management can often be a significant barrier to adoption for agents and staff within enterprise real estate brokerages. With numerous applications requiring individual login credentials, streamlined access is crucial. Implementing single sign-on functionality simplifies the login process, allowing users to access multiple applications seamlessly through a centralized dashboard. Commission Payment Portal Agents prioritize access to their income, making it imperative to feature commission-related information prominently within the intranet. Whether displaying past income, pending payments, or 1099 statements, integrating commission management software enables agents to conveniently access and track their earnings. Providing self-service capabilities empowers agents to manage their financial information efficiently. By addressing these key components within the intranet, brokerages can enhance operational efficiency, promote agent productivity, and ultimately drive business success. The WAV Group's 2024 Brokerage Technology Roadmap serves as a guiding resource for navigating the complexities of modern real estate technology and harnessing its full potential. Get all the ingredients for a successful intranet infrastructure when you download the full report. Download Free with 'Roadmap' Code For a limited time only, brokerages can download part two of the 2024 Brokerage Technology Roadmap using code "roadmap" during checkout. WAV Group is publishing a four-part series on brokerage technology for 2024. Find the other articles in this series here: Part 1 – Brokerage Website Technology Part 2 – Brokerage Intranet Register to Receive the Entire Guide Be the first to receive a download opportunity for each segment of this four-part series. Register here (bottom of page). To view the original article, visit the WAV Group blog.

Survey Reveals Optimistic Agent Outlook, Highlights a Strong Sellers' Market
The Real Brokerage Inc. announced the results of its February 2024 Agent Survey, offering insights into housing market trends and real estate agent expectations across the United States and Canada. The survey reveals a resilient optimism among agents about future market conditions in both the United States and Canada, highlighting a prevailing sellers' market, despite overall industry transactions expected to decline year-over-year in February. "We first launched our agent survey in January as a strategic initiative to directly capture the sentiments and experiences of our rapidly growing network of over 16,000 agents," said Tamir Poleg, Chairman and CEO of Real. "With a presence now covering all 50 states and four Canadian provinces, we're excited to share our agents' valuable insights with the broader public. This effort underscores our commitment to transparency and the immense value we place on our agents' perspectives." Sharran Srivatsaa, President of Real, added, "Our agents are the true experts of their local markets. This survey bridges the gap from their individual market insights to broader industry trends, underscoring the pivotal role our agents play in guiding our strategic direction." Key Findings Agents Remain Optimistic About Forward Outlook Real asked agents at the end of February 2024, "Compared to one month ago, are you more optimistic or pessimistic about the outlook for your primary market over the next 12 months?" Among the agents surveyed, 53% felt more optimistic and an additional 16% were significantly more optimistic about the next 12 months, outweighing the 7% who felt more pessimistic and 1% significantly more so. The average response among survey participants resulted in a weighted index reading of 69.2 on a 0-100 scale, with scores above 50 reflecting a positive outlook and those below 50, a negative one, thus signaling an expectation for improving year-over-year growth trends. There were similar sentiments shared by both U.S. and Canadian agents. However, February's index level of 69.2 showed a slight decline from January's 73.7, indicating a modest softening in optimism compared to the end of January. Sellers Continue to Have the Upper Hand When asked "Would you consider your primary market to be a buyer's market, seller's market, or balanced market?" 57% percent of agents noted sellers have the upper hand, an increase of 11 percentage points from January. Total North American Home Sale Industry Transactions Expected to Decline Year over Year in February Real asked agents, "In your primary market, how would you describe the number of transactions closed in February 2024 compared to February 2023?" The average response among survey participants resulted in a weighted index reading of 48.7 on a 0-100 scale, with scores above 50 indicating growth and below 50, a decline. The results suggest a decline in total industry transactions across the U.S. and Canada during February 2024 compared to February 2023, with a decline in the U.S. home sales market, while the Canadian market is expected to grow. February's index reading of 48.7 showed a modest decline from January's 49.0 level. Pace of Decline in the U.S. Improves in February: The total number of U.S. home sale transactions is expected to decline in February 2024 compared to February 2023. However, agents expect an easing in the pace of decline relative to January, with the average response among survey participants resulting in a February weighted index reading of 48.5, improving from 47.8 in January. Canadian Market Growth Continues at More Moderate Pace: Agents surveyed in Canada signaled continued year-over-year growth, although at a more moderate rate compared to January, with the average response among survey participants resulting in the overall Canada weighted index reading decreasing to 51.8 in February from 55.5 in January. Affordability Remains the Biggest Hurdle for Buyers Challenges for prospective home buyers include affordability/interest rates (45%) and inventory shortages (42%), with economic uncertainty (5%) and buyer competition (4%) being distant third and fourth concerns. Nearly Two-Thirds of Agents See Referrals as Most Effective Lead Source Sixty-three percent of agents cite networking and referrals as the most effective source of leads, followed by social media (12%), online advertising (5%), and home search portals (3%). About the Survey The Real Brokerage February 2024 Agent Survey included responses from over 500 real estate agents across the United States and Canada and was launched in the last week of February 2024. Responses to questions regarding transaction growth and agent optimism were calibrated on a 0-100 point index scale, with readings above 50 indicating an improving trend, whereas readings below 50 indicate a declining trend. Responses are meant to capture industry-level information and are not meant to serve as an indication of Real's company-specific growth trends.

Delta Survey Reveals Real Estate Brokers' Top 5 Challenges for 2024
What are the top five business challenges for real estate broker leaders in 2024? That's the question answered by the new 2024 Delta Real Estate Leadership Survey of more than 130 brokerage leaders representing firms that collectively were responsible for 2 out of 3 residential real estate transactions last year. For the second year in a row, "Recruiting new agents" was the No. 1 business challenge (65% versus 63% in 2023), followed by "Reduced profit margins" (60% versus 48% in 2023). "Agent adoption of brokerage provided technology" leaped into the No. 3 spot at 55% (it tied for the No. 5 spot last year at 39%). The "Impact of commission lawsuits" jumps into the No. 4 spot cited by a majority of brokerage leaders (52%) as being a top challenge for this year. At the No. 5 spot was "Cutting the right expenses" at 37%. "It's no surprise that recruiting remains the largest challenge for real estate leaders and that the majority see the industry lawsuits as another top challenge," said Michael Minard, CEO and owner of Delta Media Group. "What is a bit of a surprise is seeing the importance of agent tech adoption catapult into the top three business challenge. This indicates that real estate technology will be under a microscope in 2024, and it had better benefit the brokerage's bottom line." The Delta survey also asked leaders to share their take on the value of all-in-one marketing technology platforms in the brokerage's organization. Industry leaders gave all-in-one platforms an average rating of 7 out of 10. However, brokerage leaders 30 years old and younger, gave the centralized tech platforms a perfect rating of 10. In contrast, the oldest age group of leaders, 60 and older, gave the platforms the lowest rating of any age group: 6.6. Female leaders ranked the value of all-in-one platforms significantly higher (7.03) than their male counterparts (6.73). The survey also found: Rounding out the Top 10 business challenges for this year included "Recruiting top producers" (47%), "Retaining top producers" (44%), "Recruiting younger agents," "Providing higher quality leads for agents," and "Making sure you have the right technology" (all tied at No. 8 with 35%). Only about 1 in 10 leaders consider managing teams or managing the impact of AI to be a top business challenge this year. Less than 1 in 7 leaders said that increasing the speed of agent lead follow-up or recruiting a more diverse workforce was a top challenge for 2024. The Delta survey also asked brokerage leaders to identify the single best thing their brokerage did in 2024. The most common responses focused on three things: activities related to cutting costs and streamlining operations (also the most common best thing accomplished in 2023), technology adoption, and digital marketing, as many brokerages said they focused on integrating new tech and expanded their digital marketing activities; and agent support and growth, implementing new programs and services, from training and coaching to providing more brokerage marketing support. Finally, when real estate leaders were asked to provide additional insight into their top business challenge for 2024, the study uncovered three common themes: Keeping agents engaged and productive Attracting and retaining new talent External market pressures, from high interest rates and inventory shortages to legal and economic uncertainties Additional details from the Delta Real Estate Leadership Survey are featured in the latest issue of Delta Media's Real Estate and Marketing Technology Magazine, found online here.

Global Survey Reveals Affluent Home Seekers Expanding Reaches and Sustainability Is Top of Mind
Sotheby's International Realty published its 2024 Luxury Outlook report, a comprehensive exploration into high-end real estate markets across the globe. Following several years of residential real estate frenzy, the report reveals that buyers have begun to acclimate to a new normal of higher interest rates, with high-end home seekers expanding their reaches to more parts of the world with Australia, Mexico, Saudi Arabia, and Turkey poised for growth. The report explores the trends shaping real estate investment decisions in the year ahead, from the intergenerational transfer of wealth, to pinpointing parts of the world where tax incentives are increasingly enticing. "Our goal for the fourth edition of the Luxury Outlook report was to couple the expert insight of our agents with the perspectives of leading global institutions on the trends affluent buyers can expect in the months ahead to help them make opportunistic transactions in 2024," said Bradley Nelson, chief marketing officer, Sotheby's International Realty. "Despite higher interest rates, demand remains strong in many corners of the market, as people move both because they're going through major life events—such as new children or new jobs—or simply because they want to upgrade their home and, with it, their lifestyle." The Sotheby's International Realty 2024 Luxury Outlook report was compiled by surveying Sotheby's International Realty agents around the world who transact in the US$10M+ price category. This information was complemented by gathering supporting data from other leading industry experts, including UBS; The Brookings Institution; McKinsey & Company; and property technology and security firm, Kastle Systems; in addition to art and luxury experts at Sotheby's, the famed auction house, to round out luxury trends in the year to come. Key findings featured in the report include: The international market remains robust; policy and regulatory changes are closely linked with real estate markets and are driving investment decisions High-net-worth individuals being more mobile than ever – maintaining multiple residences – and looking at transactions with a modified perspective in light of higher taxes, new government incentives, or in the face of a changing climate The real estate industry using the synergy of the real world and the cyber world to market and sell homes The dominance of telecommuting and hybrid work shifting the demands of affluent homebuyers Sustainability moving from a niche interest to now being top of mind for many buyers A historic rise in mortgage interest rates translating into a higher percentage of all-cash deals around the world Owners needing to be strategic to minimize the tax impact of their wealth transfer given a strong appreciation of real estate values in recent years and the looming drop in the estate tax exemption More than 80% of leading Sotheby's International Realty agents said AI is likely to have the biggest impact on the real estate industry in the next five years vs. virtual reality or blockchain "As we continue to navigate shifts in the real estate market, Sotheby's International Realty agents from 83 countries and territories around the world continue to lead the way," said Philip White, president and chief executive officer, Sotheby's International Realty. "Luxury Outlook offers our clients unparalleled and trusted expertise as they seek to make informed real estate decisions in the year ahead, whether buying, selling, or investing, wherever they may be." Click here to read the complete report.

Coldwell Banker Publishes 'The International Buyer's Guide to Purchasing U.S. Property' for 2023
Coldwell Banker released the latest The International Buyer's Guide to Purchasing U.S. Property. The guide offers international buyers a wealth of tips and best practices to purchase property in the United States. Serving as a resource for Coldwell Banker affiliated agents, The International Buyer's Guide also acts as a marketing tool, facilitating global referral business. Key features in The International Buyer's Guide include: The Current Real Estate Landscape After years of record home sales and price appreciation, the U.S. housing market has experienced unit contraction and a deceleration of appreciation. Higher interest rates coupled with historically low housing inventory and resilient home prices has impacted domestic buyer activity. The median existing-home sales price grew 2.8% from one year ago to $394,300, marking the third consecutive month of year-over-year price increases, according to NAR. International buyer activity has also experienced a contraction. Between April 2022 and March 2023, the number of existing homes purchased by international buyers fell to its lowest level since tracking for foreign buyer purchases began in 2009 – a 14% decline from the prior period, according to NAR. Additionally, the dollar volume of international buyer purchases decreased modestly to $53.3 billion. Home Purchases: International buyers accounted for 84,600 of existing home purchases. Cash Offers: 42% of international buyers paid all-cash for a U.S. property, compared to 26% among all existing home buyers. Real Estate Investment: 50% of international buyers purchased property for use as a vacation home, rental or both in the United States. Top Destinations Florida, California, Texas, Arizona and North Carolina are this year's top five U.S. states attracting the greatest number of international home buyers. Major cities such as New York and Los Angeles have historically drawn international investment, however affordable secondary cities, suburbs and inland housing markets now present enticing, "hidden gem" opportunities. "Homebuying can be a stressful and complex process, and even more so for the international buyer. This year, we're elated to provide a refreshed instructional guide that demystifies the process of acquiring real estate in the U.S. The 'International Buyer's Guide to Purchasing U.S. Property' provides an expansive catalog of best practices, tips and recommendations for buyers when thinking about their next purchase," said Jason Waugh, President of Coldwell Banker Affiliates.

Housing Affordability and Other Brokerage Concerns: The NAR 2023 Profile of Real Estate Firms
Housing affordability, maintaining sufficient inventory and keeping up with technology were among the biggest challenges cited for firms in the next two years, according to the 2023 Profile of Real Estate Firms by the National Association of REALTORS®. The report measures characteristics of firms nationwide to determine how they operate and assess what lies ahead. NAR surveyed its broker members of record to better understand firms' demographics, composition and characteristics from the executive and manager perspective. "With interest rates rising to more than 20-year highs, it is no surprise that the biggest current concern for real estate firms is housing affordability," said Jessica Lautz, NAR deputy chief economist and vice president of research. "This surpassed the concern of maintaining sufficient inventory, which we saw in 2021. Characteristics of Real Estate Firms In 2022, the overwhelming majority of real estate firms – 81% – operated from a single office and typically had three full-time real estate licensees. Roughly nine out of 10 firms – 86% – were independent and non-franchised. Nearly a third of brokers of record – 31% – were CEOs, COOs, presidents or owners of a multi-office firm. Almost two-thirds – 65% – were managers or owners of a single-office firm. Business Activity of Real Estate Firms Single-office firms had a median brokerage sales volume of $5.3 million and 15 real estate transaction sides last year, up from $4.5 million and down from 19 transaction sides, respectively, in 2020. Firms with four or more offices had a median brokerage sales volume of $154.6 million and 403 transaction sides in 2022, an increase from $146.2 million and a decrease from 571 transaction sides two years ago. The typical firm generated 48% of its sales volume from repeat business from past clients and 47% from past client referrals. "Housing affordability has had an impact on real estate firms' overall sales activity," explained Lautz. "There are fewer buyers who can purchase a home due to the rise in prices and interest rates, and fewer sellers are motivated to make a move. While sales are down, sales volume has increased as home prices have augmented because of limited inventory." Benefits Real Estate Firms Provide to Agents and Staff Errors and omissions/liability insurance was cited as the most common benefit – 43% – which firms offered to independent contractors, licensees and agents. E-signature, comparative market analysis, electronic contracts/forms and multiple listing were the most common tools provided or encouraged by firms. A quarter (25%) of all firms offered a virtual office space for agents and staff, while 8% offered a virtual assistant. Future Outlook of Real Estate Firms Nearly one-third of firms – 30% – expect profitability or net income from all real estate activities to increase this year, down from 58% in 2021. When asked about generational effects on the real estate industry in the next two years, the top concerns for firms were young adults' ability to buy a home (63%), young adults' view of homeownership (38%) and baby boomers retiring from real estate (27%). "Due to tight inventory, the outlook among real estate firms is more conservative since the pandemic-induced housing boom," Lautz said. "Only 30% of real estate firms believe there will be an increase in profitability from all real estate activities, compared to 58% two years ago." View NAR's 2023 Profile of Real Estate Firms.

WAV Group Consumer Migration Study: Consumers who moved during the pandemic are staying put
The COVID-19 pandemic brought about significant changes to our lives, reshaping the way we work, socialize, and even where we call home. As remote work became the new norm, many individuals seized the opportunity to reassess their living situations and make a move. In this study, we aimed to explore migration patterns during the pandemic and understand the factors influencing relocation decisions. The Boomerang Effect: Relocating Back to Pre-Pandemic Homes? In our initial hypothesis, we postulated the existence of a boomerang effect, suggesting that individuals who had moved during the pandemic might eventually change their minds and desire to return to their previous locations. However, our research revealed that only a small minority, comprising approximately 4% of respondents, had actually relocated back to their pre-pandemic locations. Staying Put: The Cohort Considering a Return Even among those contemplating a return to their pre-pandemic residence, the percentage remained relatively low at around 15%. A significant majority of participants, approximately 75%, expressed their intention to stay in their current location. These findings provide valuable insights into the long-term impact of the pandemic on residential preferences. Homogeneous Location Movement: Easing the Transition One of the key factors contributing to the majority's decision to remain in their current locations was the similarity between their pre-pandemic and post-relocation environments. Our study found that most individuals did not undergo a drastic change in their living environment. Those who resided in cities prior to the pandemic-induced relocation predominantly chose to stay within urban areas. This homogeneous location movement likely facilitated a smoother transition, as individuals were already familiar with the urban lifestyle and amenities available. Reasons for Relocation: Lifestyle and Family Proximity Upon further analysis, we discovered that the primary reasons cited for deciding to move during the pandemic were an improved lifestyle and proximity to family. Better lifestyle opportunities, such as access to nature, affordable housing, and a more relaxed pace of life, emerged as significant motivating factors. Additionally, being closer to family members and support networks played a crucial role in the relocation decision-making process. Higher Satisfaction with the Decision to Move The emphasis on lifestyle enhancements and family proximity in individuals' relocation choices appears to have a positive impact on their overall satisfaction with the decision. When people move for reasons that align with their values and personal goals, they are more likely to experience higher levels of contentment and fulfillment in their new locations. Conclusion: The Complex Nature of Migration Decisions In conclusion, our study highlights the complex nature of migration decisions during the pandemic. While a small percentage of individuals have returned to their pre-pandemic homes, the majority has chosen to stay put. This preference for continuity in living environments, coupled with the primary motivations of seeking an improved lifestyle and closer family ties, contributes to higher satisfaction with relocation choices. As we continue to navigate these unprecedented times, it is crucial to recognize the interplay between personal aspirations and external circumstances when examining the dynamics of migration. Don't miss out on this invaluable resource! Our full Work From Home Migration Study, provides an understanding of the factors influencing relocation decisions during the pandemic. To view the original article, visit the WAV Group blog.

WAV Group Releases 2023 Brokerage Technology Study
In today's fast-paced real estate market, technology has become a crucial component of broker success. WAV Group's 2023 Broker Technology Study captured broker technology usage patterns and their perceived impact on business and agent success. Technology plays a significant role in the success of brokers and MLSs in today's real estate market. While brokers are generally supportive of their technology stacks, they do believe that technology is not being leveraged to its fullest extent. There is room to better promote why and how agents will benefit if they fully embrace technology offered by their brokerage. The WAV Group 2023 Brokerage Technology Study identifies several areas for improvement, including seamless integration of technologies, increased innovation and upgrades, and more effective training methods to improve technology engagement. By addressing these areas, brokers and MLSs can stay ahead of the competition and thrive in the ever-evolving real estate industry. Brokers are looking for better ways to seamlessly integrate technologies to simplify workflows and minimize redundant and sometimes inaccurate data input. Nearly two-thirds of respondents believe that listing, transaction, and customer data does not easily/seamlessly pass from one technology to another. To address this issue, brokers are looking for solutions that allow them to put a listing into one system and then populate it in multiple systems to avoid duplicate entry. The study identified transaction management, electronic signatures, CRM, social media promotion, and agent websites as the most popular tools offered by brokerages. However, the study also found that there is no clear preference for brokerages to purchase a suite of individual tools versus an all-in-one solution. Broker respondents believe they are not fully utilizing the full MLS tool suite. Many are not aware of technologies available beyond the core MLS system. They do not recognize that, in this era of cost-cutting, MLSs can play a more critical role than ever in agent success. MLSs have an opportunity to teach brokerages how to leverage the full MLS tool suite, especially in today's uncertain economic era. Read the full study here. To view the original article, visit the WAV Group blog.

Coldwell Banker Uncovers Why International Buyers Dream of Owning U.S. Real Estate
From diverse American cities and regions to being inspired by Hollywood, wealthy international consumers are dreaming of home in the United States. According to a recent survey by Coldwell Banker Real Estate LLC and the Coldwell Banker Global Luxury® program, affluent international buyers are dreaming big, spurred by location/lifestyle preferences, an overall positive outlook on the U.S. luxury real estate market and more. In fact, a significant number of respondents say they are optimistic about the state of the U.S. real estate market; 80% of luxury consumers believe purchasing real estate in the United States is a safe investment and 76% rate the current market conditions to purchase a home as "excellent and/or good." The survey conducted in partnership with Censuswide highlights the consumer sentiments of over 1,200 high-net-worth consumers from 12 countries. The findings serve to unpack the dreams, desires and attitudes of international luxury home buyers, offering insight into what's driving their interest in U.S. real estate, where they're dreaming of moving to and the factors impacting those relocation purchases. International investors are willing to bet on U.S. real estate Traditionally seen as a hedge against inflation, real estate may provide financial, emotional and psychological stability, especially in the face of uncertain market conditions. International wealthy consumers seek to diversify their real estate portfolios, build generational wealth and make opportunistic buys in luxury markets. In fact, 84% say they already own residential real estate outside of their home country. The survey also reveals that virtually all (97%) respondents from Mexico consider purchasing real estate in the United States as a safe investment, ranking them the most likely country surveyed to do so. Participants from Spain and the United Arab Emirates did not fall far behind with 92% saying that U.S. real estate is a safe investment. Desires, dreams and motivations for purchasing in the U.S. Consumer motives and preferences are not universal when it comes to international buyers looking for their dream home in the U.S. The survey indicates that some of the leading motivations to purchase property in America are as follows: Frequent work/business trips to United States cities Three-way tie: A movie or television series based in the United States A recent vacation to a United States city Investment opportunity Social media Dual citizenship / golden passport The below amenities are rated as the top five most important for international respondents based on their desires when selecting a dream home purchase abroad: Latest smart home technology Eco-friendly and sustainable design features State-of-the-art security system Home with breathtaking views Privacy International consumers are dreaming of new destinations It's evident that the United States has captured the hearts of international home buyers for various reasons with the nation's cities offering diversity in experience and atmosphere from coast to coast. Respondents identified the following as their top choices for their dream location of their next home purchase: Cultural diversity and prominent architecture like Chicago Ranked highest by Argentina with over a quarter (27%) of respondents, followed by Costa Rica (20%) In the hustle and bustle of a major city like New York Ranked highest by Spain with nearly a quarter (24%) of respondents, followed by Mexico (20%) Warm weather with sprawling homes among the glamorous elite like Los Angeles Ranked highest by Portugal with 21% of respondents, followed by Turkey (16%) A waterfront property with breathtaking views like Miami Ranked highest by Costa Rica with just under one-fifth (19%) of respondents A luxurious resort town in the mountains like Aspen Ranked highest by France, with one-fifth (22%) of respondents "The appetite for owning U.S. real estate from overseas buyers has never been stronger, according to our survey. From investment opportunities to even being inspired by the entertainment industry and social media, buyers are confident in putting their money towards their dream of making the United States their home away from home. From coast to coast, there are plenty of reasons why wealthy buyers aspire to American living," said Michael Altneu, Vice President, Coldwell Banker Global Luxury® program. Luxury property specialists are seen as a trusted resource to a community and all that it offers. The survey results reveal that 88% of respondents are highly likely to lean on the support of an agent when navigating the process of purchasing a home abroad. In addition, younger millionaires aged 25-34 are the most likely age group to use an agent for an international home purchase (97%). As the connection point to their communities, the white glove service and world-class expertise of a top agent provides immeasurable value. Beyond sharing market knowledge, agents serve as resource to sharing insights on other factors luxury buyers consider when purchasing a property, like connections to desired schools, introductions to social groups and much more.

Delta Survey Reveals Real Estate Brokers' Top 5 Challenges for This Year
What are the top five business challenges for real estate broker leaders this year? In a recent Delta Real Estate Leadership Survey of more than 100 individual brokers, who are leading firms collectively responsible for more than 60 percent of all real estate transactions last year, the leaders themselves answered this question. "Recruiting new agents" was the No. 1 business challenge (63 percent), followed by "reduced profit margins" (48 percent) and "recruiting top producers" (44%). Tied at the No. 5 spot were "agent adoption of your technology" and "finding ways to reduce expenses," both at 39 percent. "The more things change, the more they stay the same," noted Michael Minard, CEO and owner of Delta Media Group, explaining that other independent surveys of real estate broker-owners over the years also show that recruiting and retention topped their business challenges list. "Brokerages recruit and retain agents to survive — and thrive," he added. The Delta survey also asked leaders to share their brokerage's biggest challenge today. "The responses focused on three themes: brokerage profitability, training agents who have not experienced a market shift, and recruiting and retaining agents," Minard said. The survey also found: Real estate brokerage leaders gave themselves a "C" grade (74%) when asked to assess their training of new sales associates during the pandemic (2020 and 2021). Sixty percent of brokerage leaders said they would increase their coaching and training of newer agents in 2023. When leaders were asked to identify the single "best thing" their brokerage did in 2022, the most common responses focused on two things: activities related to cutting costs and consolidation, and actions related to agent recruiting and retention. When asked about their biggest challenge today, leadership responses centered on brokerage profitability, training agents who have not experienced a market shift, and recruiting and retaining agents. The Delta survey also asked brokerage leaders to share their views about marketing and technology trends in 2023. For example, the survey discovered 63% of real estate executives said "all-in-one marketing platforms" are valuable or highly valuable to their brokerage. According to the study, 86% of brokerage leaders believer that real estate tech providers delivering ongoing innovation to keep brokerage technology "cutting-edge" is important or highly important for these highly productive real estate businesses. Finally, when real estate leaders were asked about their biggest "rant" or "complaint" about tech providers, the study uncovered four common criticisms: lack of continuous innovation, poor integration services and support, over-promising, and not delivering results. Other results from the Delta Real Estate Leadership Survey can be found here.

Delta Media Leadership Survey Reveals Real Estate Brokers' 2023 Outlook
Real estate brokerage leaders are rarely a pessimistic group, yet more than half believe the global economy (63%) and the US economy (51%) will deteriorate in 2023. That's according to the new Delta Real Estate Leadership Survey of more than 100 brokerage leaders of firms collectively responsible for more than 60 percent of all transactions last year. "Another bigger takeaway is that the closer to home, the more confident real estate brokerage leaders are about the economy improving over the next 12 months," explained Michael Minard, CEO and owner of Delta Media Group. Most (72%) real estate leaders believe their state economy will stay the same or improve over the next 12 months. An even larger majority (75%) believe their local economy will remain the same or improve. The independent study found only 4% of real estate brokerage leaders believe the global economy will improve in 2023. However, many leaders are more bullish on their local economies, as 28% of real estate brokerage leaders believe their local economy will improve, and 25% believe their state economy will improve over the next 12 months. "It's important to note not a single real estate brokerage leader of the more than 100 professionals surveyed believes the global, US, state, or local economy will 'improve significantly' in 2023," Minard added. The survey also revealed real estate brokerage leaders were split on what they believe will happen to housing demand in their local markets in 2023. About one-third say it will improve, one-third say it will stay the same, and one-third believe it will deteriorate. Only 3% of those surveyed believe their local housing market will decline significantly in 2023. Moreover, the survey gauged the confidence level of real estate brokerage leaders today compared to 12 months ago. The survey shows two in three leaders are less confident than a year ago in the global and US economies. In addition, about one in three are less optimistic about their state and local economies. But, overall, most real estate leaders (59%) have unchanged confidence in their state and local economies. More bullish about their own business in 2023 More than half (53%) of real estate brokerage leaders see their profitability decreasing this year, and their total transactions dropping from 2022. "What is surprising is despite the fact many real estate brokerage leaders believe their profitability and transaction count will decline in 2023, 56% believe their brokerage will increase their local market share," said Minard, adding, "They clearly see opportunity in a chaotic market." About the survey The independent research, conducted in December 2022 by Delta Media Group, one of America's largest technology solutions providers for real estate brokerages, collected responses from more than 100 broker-owners and top brokerage executives representing firms that were responsible for more than 60% of US residential real estate transactions last year. Nearly one in five (18%) of the leaders responding manage brokerages with more than $3 billion to over $10 billion in projected 2022 transactions; 23% manage brokerages with $1 billion to $3 billion; 21% manage brokerages with $501 to $999 million, and 38% manage brokerages with $500 million or less in total transactions. Delta survey participants included leaders from all sizes of brokerages, with nearly one in 10 (9%) managing brokerages with 20 agents or fewer; slightly more than one in four leaders (26%) managing brokerages with 21 to 100 agents; 41% of leaders operating brokerages with 101 to 500 agents; 9% of leaders managing brokerages with 501 to 1,000 agents; and 15% of leaders operating brokerages with more than 1,000 agents. Forty-three percent of the respondents are 60 years or older; 34% are 50 to 59 years old; 20% are 40-49 years old; and 3% are 31 to 39 years old. In addition, 77% are male, 21% are female, and 2% selected "not listed."

Coldwell Banker Releases 'The International Buyer's Guide to Purchasing U.S. Property'
Coldwell Banker Real Estate recently released "The International Buyer's Guide to Purchasing U.S. Property," an in-depth collection of guidelines and best practices to demystify the buying process for international clients seeking to purchase property in the United States. The International Buyer's Guide also serves as a helpful resource to help Coldwell Banker affiliated agents better serve clients, and as a marketing resource for agents to build referral business globally. Key features in The International Buyer's Guide include: The Current Real Estate Landscape With travel bans eased, international interest in the United States real estate market is expected to increase due to pent-up demand. In 2022, international buyers spent more money, but purchased fewer properties than in previous years. According to the National Association of REALTORS®, while transactions further decreased, the dollar volume of foreign buyer purchases rose 8.5% to $59 billion between April 2021 and March 2022. Big Spenders: International buyers accounted for $59 billion in dollar volume for residential properties purchased. Cash Offers: 44% of international buyers paid all-cash for a U.S. property, compared to 24% among all existing home buyers. Real Estate Investment: 44% of international buyers purchased property for use as a vacation home, rental or both in the United States. Dream Locations The five U.S. states that attract the greatest number of international home buyers are Florida, California, Texas, Arizona and New York. While cities like New York and Los Angeles have traditionally attracted the most international dollars, secondary cities are on the rise, presenting as "hidden gem" opportunities. The Coldwell Banker Global Luxury program issued "The Report 2022," which includes "The Opportunity Index" that measures a market's percentage of annual price increase against the current inventory level. "We're ecstatic to welcome back international investment into the U.S. real estate market," said Liz Gehringer, President of Affiliate Business and Chief Operating Officer of Coldwell Banker Real Estate. "Gone are the days where the agent is just part of a transaction – today, they're a lifelong partner, helping consumers craft their dream life. The 'International Buyer's Guide to Purchasing U.S. Property' offers prospective buyers a full-scale look at best practices, tips and recommendations when thinking about their next purchase."

New Study Reveals Increased Transparency on Commissions Leads to Increased Value in Consumers' Eyes
WAV Group's new Buyer Agent Commission Study reveals many insights from buyers about their awareness, understanding and appreciation of how commissions work when buying a home. Chief among these insights is the undeniable connection between transparency and perceived value on the part of home buyers. Those who indicated they were "totally clear" about the commission paid were 59% more likely to think their agent "completely earned the commission" than those who were unclear. In general, the large majority of buyers were satisfied with the services they received from their agent (88%). Buying a home in any market can be complicated. No two transactions are exactly the same, and something always comes up right when you think all is clear. With this many moving parts, buyers appreciate clear communication and prompt responses. As one buyer indicated in the open-end questions, "My agent showed me many many houses and answered every phone call and email and text quickly and with answers I was able to understand. She walked me through every step of the process." Buyers recognize how hard it is to successfully purchase a home, especially in the recent housing market. They are appreciative and grateful for the creativity and hard work their agents deliver to help them successfully purchase a home. Agents earn their commission, and home buyers recognize that. Get the full report now. To view the original article, visit the WAV Group blog.

Reduce Buyer Frustration with Effective Financing Education and Preparation
Money may or may not buy happiness, but you for sure need it to buy a house. For most people that means getting a mortgage. Thirty-five percent of frustrated homebuyers in the WAV Group Homebuyer Frustration Report pointed to the mortgage process being a source of their frustration. One respondent in the study suggested, "There needs to be more workers in the mortgage field to make it run faster." Buyers just want a seamless experience from home search to the closing table. This is one of the reasons more brokerages have started offering ancillary services such as title and mortgage. Financing complications or delays are a constant struggle in any market, and when the market is moving fast and is super competitive, like it has been recently, it can get even more stressful. Here are some important points your team should add to their initial buyer education consultation. Review Their Credit Report Even if there is nothing incorrect or alarming to find on the report, it is quite likely that there is something on their report they could clarify or update which may get them a better score and possibly a better rate on the mortgage. So it is certainly worth the effort. Suggest they do this BEFORE trying to qualify for a mortgage. Get Organized Buyers will need to track down their tax returns, print out paystubs, and if they are self-employed, they will want their profit and loss statements for at least two years. There will likely be delays with the mortgage company processing documents. Do not add to that delay by not having the documents ready to submit and re-submit when requested. Get Pre-Approved Even before they find a house to make an offer on, buyers need to know how much they can afford. The pre-approval letter is an important step in the process, but it is not the end of the road. Buyers need to understand that there is still more work to be done once they find the house they want to buy. Put the Mortgage Company on Speed Dial Once a house is selected, there is an entirely different approval process before the mortgage will be ready to fund. Buyers should be prepared to stay in touch with the lender throughout the process, and the agent should be tracking the process as well. They should proactively check on the status of the mortgage consistently once the offer is made until it is ready to fund on closing day. Even the most prepared of buyers can sometimes get frustrated. As another respondent in the WAV Group Homebuyer Frustration Report said, they wish there were "Clearer financial requirements to close." As a neutral third-party, your agents can act as part counselor and part advisor for homebuyers trying to figure out the mortgage process. Sometimes they will just not understand what the mortgage company is asking for, or why they are asking for it. If your team can explain a term or help them get a document, that can help relieve some of the stress. Get all the insights and data from the WAV Group 2022 Homebuyer Frustration Report to see how you can set your next buyer up for a smoother home buying experience. Download now! To view the original article, visit the WAV Group blog.

The Great Resignation Isn't a Threat for Top Real Estate Brands
Coldwell Banker Real Estate announced the results of its annual agent priority report, conducted by Quester among agents and brokers across top national real estate brands to keep a finger on the pulse of what real estate professionals value in their careers. In a time when the Great Resignation has posed a threat to many American workplaces, and competition for exceptional agent talent is substantial, the real estate industry may not be experiencing an exodus of current sales agents. The report's findings reveal that agent priorities among the real estate brokerage community are now more important than ever. Real estate is a desirable profession Citing work/life balance, increased income and gratitude for having a job, 60% of agents surveyed say the pandemic has had no impact on their future career plans as an agent, and about 25% say it has made them more interested in remaining an agent. For the third time, Coldwell Banker Real Estate ranked #1 in agent satisfaction. Coldwell Banker agents surveyed said they were extremely or very likely to recommend their current company to another agent. No need to leave A hot market makes for happy agents, with only 9% of all surveyed agents across all brands reporting that they plan to switch affiliation this year (vs. 20% in 2020). What matters most among agents open to affiliating with Coldwell Banker? Leading edge tech and tools: 98% A strong brand image: 97% Best equipped to navigate future of real estate: 97% Most knowledgeable agents: 96% Local expertise: 94% Recognized by buyers/sellers: 93% Coldwell Banker affiliated agents are less likely to change affiliation in the next two years than any other company's agents according to survey results. Agent Affinity Is Growing: Agents affiliated with the Coldwell Banker brand are less likely to change affiliation in the next two years than any other company's agents. Gold Star Opinion: Agents' opinion of the Coldwell Banker brand is higher than any other real estate brand. The top reasons for leaving For those agents not affiliated with Coldwell Banker who chose to leave their company, numerous factors were at play. According to the survey, reasons why agents who were not affiliated with Coldwell Banker left their previous brand included: Commission: 46% Referrals/Leads: 40% Team Support: 36% Better Tools: 31% Better Training: 27% Culture: 25% Local reputation: 20% Brand reputation is key Real estate brands have more competition than ever to retain and attract their top talent. A notable brand reputation will prevail, as most agents agree that their company's reputation is important to their business success. This sentiment is believed even more fervently among Coldwell Banker affiliated agents. Coldwell Banker brand tools and network support are unmatched, and affiliated agents surveyed have a lot to say about their experiences: "People trust the Coldwell Banker brand, and I get referrals because I work there. They also have a lot of training and support for new or busy agents. There are so many apps available, such as Listing Concierge, MOXI and InTouch that help me stand out from other agents." "Its reputation is unmatched. Everyone recognizes the brand and correlates it to excellence and professionalism," said one Coldwell Banker survey respondent. "I appreciate its reputation and Coldwell Banker has assisted me in my transactions and assisted me in gaining listings." "The company is very ethical, and the top people are great. They are very responsive to the agents' needs, and the company enjoys a great reputation. My customers and clients realize Coldwell Banker's reputation, so it makes it easy to do business. Survey methodology This survey was conducted online within the United States by Quester on behalf of Coldwell Banker Real Estate from Q4 2021 – Q1 2022, among 1,405 licensed real estate agents or brokers that work primarily in residential real estate aged 21-75. Quotes provided by affiliated agents are anonymous, but all interviewed consented to having their statements anonymously published.

Coldwell Banker Launches 3 New Tools to Empower Home Sellers
Despite the current seller's market, nearly half of American homeowners (46%) are unsure of the current value of their home. This is according to the latest Coldwell Banker survey, which launches today alongside a refreshed ColdwellBanker.com and the newest "Dream" ad campaign. Part of the brand's 2022 Seller Strategy, this campaign will give potential home sellers the tools and help they need to navigate today's market -- and to dream big. The Dream ad campaign airs March 15 during March Madness and features an unveiling of ColdwellBanker.com and three new Coldwell Banker products: CB Estimate℠, Move Meter℠ and the Seller's Assurance Program. Paired with the brand's 100,000 world-class agents, these products help ensure that Coldwell Banker Real Estate is delivering something for every step of the seller journey, from inspiration to action. Coldwell Banker Real Estate LLC, a Realogy company, commissioned the survey conducted online by The Harris Poll among 2,000+ US adults to understand the ways Americans assess their real estate dreams and what support they value during the selling process. Findings include: Opportunities for home sellers are ripe as the COVID-19 pandemic has made younger generations more likely to think about pursuing their dreams, and for some this includes home ownership. Over a quarter of Americans (29%) who experienced the pandemic – especially GenZers and Millennials – are more likely to think about pursuing their dreams. Pursuit of happiness: 39% of Gen Zers (age 18-25) and 41% of Millennials (age 26-41) say they are much or somewhat more likely to think about pursuing their dreams (e.g., making a housing move, pursuing a passion project, making a career change, expanding family) after experiencing the COVID-19 pandemic. Location, Location, Lifestyle: When it comes to home, more than 4 in 5 Americans (87%) say it is important to them that the location of their home (rural, suburban or urban) aligns with their lifestyle. Dreaming about everywhere: Not all Americans agree on what the ideal dream home looks like. Top dream home locations include: In a location with warm weather (33%) In the suburbs with ample space (28%) Remote and off the beaten path with a large plot of land (25%) Americans need help selling and finding their dream home. According to this survey, nearly half (46%) of American homeowners say they are unsure of the current value of their home. That number increases to 52% among Gen Z homeowners and 54% among Millennial homeowners. With the new CB Estimate℠ tool, Coldwell Banker is making it easier to find out what a home is worth with a free and instant online estimate. Sellers can browse at their own pace, without having to fill out a form or provide data. What's more, sellers still have the upper hand as two thirds (67%) of Americans have not yet found their dream home. That proportion is even higher among Gen Z (72%) and Millennials (75%). Many Americans use home price estimate calculator tools as a first step for selling a home. More than a third of Americans (35%) would go to a real estate website with a home price estimate calculator tool as their first step to sell their home if they were looking to sell, and younger Americans are more likely to take this as a first step versus using a real estate agent. The new CB Estimate℠ and Move Meter℠ tools will help kickstart the process of a home evaluation. From there, Coldwell Banker affiliated agents are ready to take a sale to the next level – by getting the most for a customer's current home and bringing them one step closer to finding that dream home. In fact, Coldwell Banker affiliated agents have achieved a 20.7% higher U.S. sales price than the National Association of Realtors® average. Online shopping: If they were looking to sell a home, more Gen Z (ages 18-25) and Millennials (ages 26-41) would go to a real estate website with a home price estimate calculator tool as their first step to sell their home (44% and 43%) versus contacting a real estate agent directly (30% and 35%). But when it comes to selling a home, agents are still key. Proving just how valuable a human approach is to the selling process, 60% of Americans would trust a licensed real estate agent to accurately estimate the value of a home more than an online valuation tool. That's why Coldwell Banker's Estimate tool is designed to be paired with one of our star agents, who can verify a home's true value. License to sell: Nearly half (45%) of Americans say if they were going to sell a home, contacting a licensed real estate agent directly would be their first step. The "Great Resignation" continues to impact home. Compared to a fall Coldwell Banker survey, people are increasingly willing to take a pay cut or accept a new job with a lower salary if it meant moving to a more affordable location. Thanks to the "Great Resignation," the movement of people leaving the workforce during the pandemic, Americans feel empowered to make these moves. In fact, housing affordability and cost of living are factors that are important to an overwhelming majority of Americans when considering a move to a new location. Employed Americans are increasingly willing to take a pay cut or accept a new job with a lower salary in order to move to a more affordable location: The percentage of those willing rose from 41% in October 2021 to 46% in February 2022. A significant increase (21% change) was seen among employed males aged 18-34 (53% to 64%). Getting out of town: Of American homeowners who plan to sell their home in the future, 44% plan to move to a different city or state. That proportion increases to 58% among Gen Z and 54% among Millennial homeowners who plan to sell. Americans aren't moving on a whim, though. They value data that help them gain a fuller understanding of a new real estate market. Researching the right way: When considering a move to a new location, Americans say the following factors are at least somewhat important to them: Quality of Life (lifestyle and/or environmental elements): 94% Housing affordability: 93% Cost of living affordability: 93% Job market strength: 70% With these desires in mind, Coldwell Banker Real Estate created the Move Meter℠ – a proprietary tool built to help people dream differently by comparing various data points to evaluate a move from one place to another, including: housing affordability, quality of life, job market strength and living affordability. When one is ready to sell, the Seller's Assurance Program, developed to make home selling easier and more rewarding than ever, articulates the seller benefits available through working with a Coldwell Banker affiliated agent to sell or list a home. The Seller's Assurance Program is intended to spotlight the tailored offerings each Coldwell Banker affiliated agent provides their clients. "With today's lack of inventory, how do we inspire homeowners to consider listing their home for sale? That's where the Coldwell Banker 2022 Seller Strategy comes in, and along with it the Dream campaign, survey and refreshed ColdwellBanker.com," said David Marine, CMO of Coldwell Banker Real Estate LLC. "We've given our website a new and refreshed look that is complete with intuitive tools designed to make finding the estimated value of your current home seamless. With more Americans willing to take a pay cut to move to a more affordable location, we saw a need for tools that let them dream differently." Visit coldwellbanker.com to see the new look and feel of the Coldwell Banker website and explore the CB Estimate℠, Move Meter℠ and Seller's Assurance Program to see the current worth of your home, find an agent and prepare for your next move to your dream home.

zavvie reveals new iBuyer and Power Buyer Report
Despite one of the most robust seller markets in real estate on record, with homes selling "faster than you ever thought possible," iBuyers registered a breakout year in 2021, increasing business fivefold year-over-year according to a new report from zavvie. The market conditions from October through December, coupled with record-low inventory, presented a challenge for iBuyers, whose value proposition is speed, certainty, and convenience to home sellers. "iBuyer skeptics would say, 'Who needs an instant offer from a tech company if you can sell your house on the open market faster than you ever thought possible for more money than you ever expected?'" said Stefan Peterson, zavvie Chief Data Officer and co-founder and author of the zavvie Seller Preferences report. "Yet iBuyers had a breakout year," he added. Collectively, the zavvie report shows iBuyers purchased over 71,000 homes in 2021, approximately 1.3% national market share, compared with about 14,000 in 2020, when the pandemic temporarily paused iBuying — a 5x increase. The report noted, "It's time to stop questioning whether iBuying is good or bad and start asking if an instant offer is a good option for your next home sale." For power buyers, firms offering innovative solutions that dramatically increase a consumer's home buying power, market conditions were "perfect," the report notes. Buy Before You Sell, Sale Leaseback, and especially Cash Offer options for home buyers catapulted the growth of power buyers and their accessibility to consumers. According to zavvie, consumers gained a huge advantage when working with a power buyer versus using a traditional mortgage with a loan contingency. Buyers using a mortgage needed to make offers on seven houses before winning an offer. Using a "Cash Offers" program, homebuyers averaged just 1.1 submitted offers before successfully purchasing a home. The zavvie report notes, "Throughout 2021, the Power Buyers experienced explosive growth and expansion. Ribbon reported demand for its Cash Offers increased 10x in 2021. EasyKnock, which already operates nationwide, more than doubled its business over the year. Knock continued its expansion from three markets at the end of 2019 to 71 markets in 2021. Homeward kicked off a 20-state expansion plan. Flyhomes launched a national expansion as 'Flyhomes for Agents,' rolling out in several states." Highlights from the Q4 zavvie Seller Preferences Report include: iBuyers rebound, expand, and establish long-term viability: Despite a major iBuyer exiting the market (Zillow), Opendoor, Offerpad and RedfinNow all significantly increased their purchasing activity. Power buyers reach a broader range of properties than iBuyers: In Q4 2021, the median price for power buyer transactions came in at $485,000 versus $395,000 for iBuyers. A giant leap in iBuyer median purchase price: Still, the median purchase price for iBuyers increased from $280,000 in Q4 2020 to $395,000 in Q4 2021, a 41% gain. Power buyers charge lower fees than iBuyers: iBuyer service fees increased slightly to 5.0%, less than what sellers often pay on the open market, while power buyer fees range from 0% to 3%. iBuyer "buy boxes" stabilize, but a $2.5 million threshold comes to the market: iBuyer "buy boxes" (the targeted purchase price range, age, and other conditions) were consistent with past quarters, but Opendoor launching in the San Francisco Bay area brings home purchases up to $2.5 million. Based on Q4 buy boxes, iBuyers collectively could purchase 47% of properties, up from 32% at the end of 2020. Cash offers continue to drive power buyer growth: Many power buyers continue to report a 2x to 10x increase for cash offers in Q4 compared to Q4 2020. iBuyer "prep and repairs" fees drop: Called a seller concession, they decreased in 2021 to an average of 3.1% from 3.6% in 2020. Power buyers and iBuyers both earned higher consumer satisfaction scores: On a 10-point scale, satisfaction among customers of power buyers and iBuyers both averaged 9 for 2021. The zavvie Seller Preferences Report, available for free at zavvie.com/seller-preferences, is the first of its kind covering all the selling solutions available to US homeowners. It reveals the activity and impact of both iBuying and power buyers, including market locations, business volume and trends, and current buy boxes. The zavvie report also examines offer strength, offer acceptance rates, service fees, average concessions, time to close, and customer satisfaction.

The Results Are in: 2021's Best Practices for CMAs and Listing Presentations Survey
The results of the second annual Best Practices for CMAs and Listing Presentations Survey are in--and a lot has changed since 2020! After a brief pause in the market in April-May 2020, we've seen one of the hottest markets ever, with markets hitting close to a 19% yearly appreciation rate in late 2021. With market trends, the continued strain of a pandemic, and seller interest at an all-time high, how real estate professionals approach CMAs and listing presentations has changed as well. Background With Cloud CMA being real estate's leading report generating tool for over 10 years, the idea for the first edition of the Best Practices for CMAs and Listing Presentations Survey was born. The main goal was to get a better understanding of real estate professionals' best practices for CMAs and listing presentations in order to continually provide updates and enhancements that meet their needs—now and in the future. Last year's results gave us a benchmark to start with, and now 2021's results are all the more interesting. As expected, the Covid-19 pandemic and low inventory market forced real estate professionals to shift their focus—which will be evident in this year's findings. The survey This year, nearly 5,000 real estate professionals completed the survey—a 49% increase over 2020. We asked questions from how real estate professionals find their comps to putting together a CMA report, to their behaviors at a listing presentation. This year we also asked how the pandemic has changed their business—like if they plan to deliver a virtual listing presentation in the next six months. What's changed from last year As you'll see in more detail in the full report, there were some stark differences from 2020's results. To name a few: The use of expired listings as comps in a CMA is down 16% The number of agents who include a suggested list price in their CMAs grew by 11.7% Fewer agents are including Zestimates in their CMA reports this year To see the full results, as well as what this all means for your business as we continue to look forward, download the full Best Practices for CMAs and Listing Presentations Survey report here. To view the original article, visit the Lone Wolf blog.

HomeJab Reveals Top Trends in Pro Real Estate Photos, Video, 3D Tours, Aerial and more
Do your agents use professional real estate photographers to shoot every listing? They should if they want to stay competitive, as today, 73% of all agents use professional photography to promote every property they list. Professional photos, video, virtual staging immersive 3D tours, aerial photography, and the use of twilight photos by agents are all covered in a brand-new survey from HomeJab. If you use professional photographers and other visual assets to promote your property listings and don't know HomeJab, you should. Go to HomeJab.com and see for yourself how they connect you with top local photographers and deliver a lightning-fast 24-hour turnaround. Founded in 2013 by real estate industry veteran and real estate photo and video expert Joe Jesuele, HomeJab has emerged as America's most popular and reliable on-demand professional real estate photography and video service for real estate pros. HomeJab is also one of the hottest startups in its category. The new HomeJab study uncovered some fascinating recent tech trends, including: Video tops 3D tours: While immersive 3D interactive tours continue to soar in popularity, real estate agents pick video over 3D. Thirty-six percent said they preferred video tours versus 21% for 3D tours. Additionally, 30% said they use both video and 3D tours, depending on the seller. Virtual staging narrowly beats traditional staging: HomeJab found that 30% of agents now prefer virtual staging, slightly more popular today than traditional staging at 29%. Only 7% of agents shoot their own listing photos: Despite the advancements in smartphone camera technology, professional photography still beats DYI – by a wide margin. Agents know that pro photos positively showcase their personal brand, HomeJab notes. Aerial photography is hot and getting hotter: Sixty-seven percent of real estate agents said they had used aerial photography with their listings. Fifty-five percent of agents said their use depends on the property. Twelve percent said they use aerial photography with every property listing. The newest trend is the growing popularity of virtual twilight photos: Seventy-six percent of agents have used them to promote their property listings or are interested in using them. Forty percent of agents said they use twilight photos. Thirty-five percent say they love them, and 5% say they use them but don't love them. This new data from HomeJab showcases how high-quality and innovative imaging assets have become the cornerstone in property listings marketing. More importantly, it's great to see new data points on this hot topic, as much of the existing research is mostly dated. Here is their full news release on the recent HomeJab survey. To view the original article, visit the WAV Group blog.

Staggering Wealth Growth Drives Luxury Real Estate's New Power Players, Coldwell Banker Global Luxury Report Reveals
Coldwell Banker Real Estate and the Coldwell Banker Global Luxury program released the "Real Estate's New Power Players" report, part of the annual "A Look at Wealth" series. The luxury real estate market is seeing yet another dynamic year. Staggering wealth growth – driven by rebounding stock markets, cryptocurrency gains and higher 401(k)s – combined with soaring home prices and low interest rates meant buyers borrowed and saved more while reinvesting cash, leading to the emergence of a new set of Power Players redefining the meaning of luxury. The report reflects that luxury real estate's latest movers and shakers have had tremendous influence on the market over the last 18 months. Nearly three times as many individuals with a net worth of $5 million and up own real estate in the $1 million to $5 million range compared to numbers in 2019, an 180% increase of luxury property ownership in a three-year period. About 71% of those with a net worth over $5 million now own properties in the $1 million to $5 million range. In fact, luxury homes purchased from January through August 2021 in the $1 million to $5 million range jumped 142% for single-family homes and 129% for attached properties compared to the same period in 2019. The growth in the volume of wealth has also been extraordinary; between 2019 and 2020, it rose by over 21%, and escalated to 79% when compared to January through August 2021 during the same eight months of 2019. Data from the end of August 2021 already shows that the volume of real estate wealth in the luxury property market is greater than both the full years of 2019 and 2020. Coldwell Banker Real Estate gathered the latest wealth research and data generated by WealthEngine, Wealth-X, and other third-party sources and combined it with anecdotal evidence from Coldwell Banker Global Luxury® Property Specialists in the field to identify luxury's affluent Power Players dominating the shifting wealth archetypes in the current market. The four core groups identified are having a major impact on the luxury real estate landscape in 2021: Baby Boomers: Representing 51% of the Power Players, Baby Boomers, those aged between 57-75, are speeding up their retirement plans and moving into the home of their dreams. Many Boomers have leveraged the equity of their primary residences and sought out dream homes in more remote locales, like the rural countryside or resort towns. There are 2,020,854 Boomers who own more than three properties — the most out of any age group. Golden Millennials: Golden Millennials, those aged 35-40, represent 60% of all millennial-owned luxury properties today. Holding more focus on values and the desire for sustainability and authentic living, this age group has shown a greater propensity for secondary cities and suburban locations that can offer them enough space for work, school and access to amenities. The influence of Golden Millennials will be important to watch as their wealth and real estate portfolios grow. Second Homeowners: Largely attributed to the pandemic, many consumers desired a "get-away" residence, resulting in a rise in second-home purchases. Their influence on the overall luxury property market is one to watch; nearly 70% of those with a net worth of $5 million and up own two or more properties. Urban Repatriates: As COVID-19 restrictions ease, a resurgence of the nation's cities is prevalent. Luxury attached property values in 2021 increased an average of 14% compared to 2020 and 2019. Of the 184 U.S. cities reviewed by Wealth-X, there are 1,647,110 properties owned by the affluent with a net worth of $5 million and up in downtown cores as of August 2021. With suburban settings, resort markets and secondary cities still booming, and major metropolises surging back, Coldwell Banker Global Luxury® also identified the top markets where Power Players are moving: Baby Boomers Scottsdale, Arizona Sarasota, Florida Lowcountry, South Carolina (including Hilton Head, Bluffton and Beaufort) Golden Millennials Atlanta, Georgia Chicagoland, Illinois Seattle, Washington Second Homeowners Monterey, California Coeur d'Alene, Idaho Park City, Utah Urban Repatriates San Francisco, California Boston, Massachusetts Brooklyn, New York Shifting the priorities of all generations, the pandemic formed new hotspots in the luxury real estate market. As these Power Players continue to make moves in the high-end housing landscape, new definitions of luxury will emerge as they refine how and where their wealth is spent. "In 2021, we've seen a continuation of trends we began to see in 2020, from renewed focus on family, health and wellness, to what we have seen this year with surging stock markets, soaring home prices and increased savings – all of these variables created a perfect equation for a profound shift in the volume of wealth. These factors propelled the market to new heights, altering the definition of luxury along the way," said Michael Altneu, vice president of luxury for Coldwell Banker Real Estate. "The emergence of new Power Players flush with cash has been transformative in many markets around the country as affluent buyers flocked to sleepy rural towns, resort markets and the suburbs, and are now contributing to the resurgence of major cities. As interest rates remain low, paired with all-time high demand and the return of international buyers, the luxury market will continue to experience low inventory levels that we anticipate will have a lasting effect in the years to come," said Judy Zeder, co-founder and broker-associate of The Jills Zeder Group, Coldwell Banker Realty. A Look at Wealth is a collaboration between the Coldwell Banker Global Luxury® program and Wealth-X, WealthEngine and the Institute for Luxury Home Marketing. Released once a year, A Look at Wealth is a supplement to The Report, which combines industry research with anecdotal insights from local market experts affiliated with the Coldwell Banker® brand.

Survey Shows Pandemic Fuels Importance, Usage of Digital Transaction Management
A new study by WAV Group shows that brokerages that have adopted digital transaction management solutions saw their value increase and usage soar during the pandemic. The vast majority of the brokerages surveyed – 85% – said that their transaction management solution was very/extremely valuable. Seventy-seven percent said that at least 81% of their transactions are now processed through their digital transaction management tool. The study, "2021 Transaction Management Interoperability Study," reports that digital transaction management tools flourished during the outbreak of COVID-19. Form Simplicity, a leading digital transaction management solution which is owned and operated by Florida Realtors®, reports the same jump in popularity. Training alone for Form Simplicity more than doubled in 2020 and 2021 as Realtors clamored to go paperless. As WAV Group noted, "Brokers are seeing strong benefits for Digital Transaction Management as well. Broker respondents appreciate the broker oversight, support for creating compliant transactions and reducing the likelihood of legal challenges with a transaction." As reported here, brokers using Form Simplicity are protecting their business as the automated tracking tools built into Form Simplicity remove the worry about compliance issues. That key benefit – "Make it easier for broker oversight and management of transactions" – topped the list of the WAV Group study. The survey found the top 10 benefits that digital transaction management solutions deliver include: 76% - Make it easier for broker oversight and management of transactions 71% - Better documentation of every step/conversion in the transaction process 64% - Most complete/compliant transaction closing documents 58% - Customer records and brokerage information added automatically to forms 58% - Simplifies transaction setup, adding listing information automatically to forms 47% - Notifications keep all involved parties up to speed on the progress of the transaction 42% - Build agent loyalty and satisfaction 36% - Reduced mediation/legal challenges with a transaction 29% - Faster closings 29% - Reduces insurance costs Brokers and agents using Form Simplicity see all of these key benefits in action. In addition to the compliance benefits, Form Simplicity users also enjoy the auto-population of listing data into its smart, dynamic forms, ease of setup and controlled access for all involved parties, and a fully digital process that is easier to track and retrieve transaction information instantly. And access is available from just about anywhere with any device. Most importantly, the WAV Group research showed nearly all brokerages – 92% – using digital transaction management, characterize its value to their agents as very/extremely valuable. More than 80% of brokerages say they are interested in a data entry process that removes redundancy. That's why Form Simplicity continues to work with its customers to find ways for deeper integration. You can get a free copy of the WAV Group study on the research page of its website here, and you can learn more about Form Simplicity and the additional benefits it offers agents and brokers at formsimplicity.com. Tricia Stamper is Director of Technology at Florida Realtors®, which owns and operates Tech Helpline and Form Simplicity.

Century 21 Real Estate Releases Compelling New Data on the Evolution of Home and Its Impact on Life in the Future
What does "home" mean to you? For many of us, the answer to that question changed dramatically over the past year and a half as we moved forward through our new COVID reality. As part of its 50th anniversary celebration, the CENTURY 21 brand explores this concept in a unique collaboration with National Geographic CreativeWorks culminating in the production of its first-ever branded documentary. Titled "Home Rediscovered," the documentary premieres on the National Geographic Network on September 23 at 10 pm EST. To support the film, the CENTURY 21® brand commissioned a global research study with magnetic collective, an insights-driven brand consultancy, to explore how the past year transformed the modern home and what these changes might mean for the future of homeownership and the real estate industry. The study was conducted using both quantitative analysis and qualitative interviews with real estate agents, builders, recent buyers, and future buyers across five key global markets including the United States, France, Australia, Spain and Japan. With more offices around the world than any other real estate franchise, it was important to Century 21 Real Estate to look at the data through a global lens. The survey was based on the responses of 1500 people (300 in each market), from the ages of 25 to 64 from April to May 2021. The "Rediscovering Home" documentary weaves in findings from the study as well as examines several housing trends that emerged during the pandemic which are expected to shape our vision of home for the foreseeable future. Key takeaways from the global data included: There has not been one universal pandemic experience as countries have followed their own COVID timelines with varying peaks and restrictions, creating a home buying process that varies geographically. The US, Spain, and France were all once epicenters and went through some of the longest lockdown and restriction periods 58% of buyers in France say that COVID will have a lasting impact on what they want in their homes; 43% of buyers in Spain say COVID has been most influential when it comes to their desire to buy a new home COVID's influence on aspects of the home buying process in the US is most evident for those with kids and those working from home Australia and Japan initially saw more of a slowdown instead of a lockdown, but COVID's more recent emergence in Japan leaves 48% of future buyers saying it has been a factor in their desire to buy a new home 22% of those surveyed globally say they moved because someone from the family moved in leading to a universal need for flexibility and reimagining of spaces in Australia, children are now more likely to stay at home during college years, until they find a job with a steady income in Spain and Japan, children are staying at home until age 30 or marriage The pandemic forced people to stay close to home, but even when looking to move, they aren't going far. Across all markets, most of the people surveyed reported moving within 20 miles or kilometers of their current home; longer distance moves (50+ miles or kilometers) are more common in the US and France than in other markets 20% of US and France buyers moved 50+ miles or kilometers away, compared to Spain and Japan buyers less than 15% moved that far Low inventory and increasing prices continue to be the hot topics in the U.S. and across markets. Low home inventory in the top five challenges people are facing in all markets surveyed; all markets experienced challenges finding homes to fit their needs. In the U.S., according to the National Association of Realtors, the public inventory numbers from May to June increased 3.3% and the internal inventory numbers are also similarly trending up leading to some early optimism that we are seeing green shoots of increased supply France has seen a 'banlieu' (suburbs) boom with suburb property prices soaring, a trend only more accentuated as a result of the pandemic While Australia has fared better than other well-developed countries due to snap lockdowns, internal border controls and tough social distancing measures, residential property values have been on a steady increase for the past year Urban flight is happening around the world, but there are indications that it may not be a lasting trend. Future buyers in all countries surveyed are more likely to stay in urban areas by a large margin (compared to recent buyers) In the US, 82% of future buyers will stay in urban areas. In Japan, that number is 80%; 59% in France, 73% in Spain and 62% in Australia "It's no secret that the last 18 months have been a wild ride for the real estate industry," said Michael Miedler, president and CEO, Century 21 Real Estate LLC. "What was once a seasonal business that had expected outcomes from month to month was completely upended by work from home, schooling at home, and postponed life events. We were thrilled to work alongside magnetic collective and National Geographic CreativeWorks to take a deep dive into how these lifestyle changes were going to impact the consumers' view of home and subsequently the future of our industry. Regardless of what challenges and changes lie ahead, we were excited to see that buyers surveyed in all markets see the benefits of having an active and engaged real estate professional, like our C21® affiliated agents, taking on multiple roles and being a partner throughout the journey. All of these learnings will help to ensure that we are continuing to deliver the most extraordinary experiences possible for all of our clients around the globe." "Home Rediscovered" is a 45-minute film hosted by National Geographic Explorers Andrés Ruzo and Dr. Rae Wynn-Grant. They met with a diverse group of families and individuals who have uprooted their lives, bought homes, moved, or simply re-thought the way they want to live – now and in the future as they explored what the future of home will look like around the world. To learn more about the CENTURY 21 Brand and National Geographic CreativeWorks collaboration as well as view the exclusive trailer for the "Home Rediscovered" documentary, please visit Nationalgeographic.com/future-of-home.

ERA Real Estate Examines Broker Response to Shifts in Homeownership Tenure
ERA Real Estate released a new thought leadership report examining how homeownership tenure affects the industry. The "Homeownership Tenure and the Impact on the Real Estate Industry" report draws on observations and insights from ERA affiliated brokers across the country about how increasing homeownership tenure has impacted their business in the past, how they have responded and their views on what may follow in 2021 and beyond. According to the National Association of REALTORS®, until 2019, homeowners were staying in their homes an average of eight years, up considerably from 2000 when the average tenure was four years. But given the market conditions of the past few years, homeownership tenure could possibly extend to 15 years or more. The report investigates how the buying frenzy of 2020 may have impacted tenure rates. Last year, NAR indicated that 5.64 million people moved, a nearly six percent increase YOY. Many of those people may have moved outside of traditional life changes such as marriage, the birth of a child, divorce or retirement, bucking tenure trends. Understanding how this will play out in years to come will be critical in future bottom-line success for brokers. Key takeaways: Generating supply through innovative seller-focused marketing is key to capturing more market share. Creating connections with feeder markets has kept business in-house. Tapping into increased demand for multigenerational living has helped to capture a bigger piece of the pie. Cultivating renters through property management has created a solid pipeline for the future. Supporting agents with tailored marketing resources and CRM support has given them the competitive advantage of extra time to support existing clients and farm for future ones. "Homeownership tenure is not a statistic that is typically tracked when evaluating market conditions, making this a unique industry report," said Sherry Chris, President and CEO, ERA® Real Estate. "In looking at homeownership tenure trends, it is clear that shifts in how long people stay in their homes impact inventory levels. Despite extreme ebbs and flows in market dynamics, successful companies are the ones that are able to balance short-term activity with long-term positioning. As we see from these ERA affiliated brokers referenced in the report, they have made strategic changes to their business in response to these shifts, knowing when and how to adapt continues to be a competitive advantage." Click here to download the full report.

zavvie Releases New Midyear Seller Preferences Report
Record-low inventory in markets across the U.S. made it easy to sell a home in the first half of 2021 -- but increasingly harder to find and buy one. That made moving tricky for the 70% of sellers who also needed to buy a home. Fortunately, new ways of selling and buying are meeting consumer needs in the difficult market. "Power Buyer" companies offer services that enable consumers to buy their new house before selling their current home. And, cash offers from iBuyer companies became stronger than ever and increasingly available. A new midyear zavvie Seller Preferences Report details the explosive growth of Power Buyers and several other new selling solutions available to homeowners throughout the U.S. between January and June 2021. Released today by zavvie, a brokerage-branded marketplace connecting brokers and their clients with Verified Buyers, the report also details that iBuyers are back. In Q1 2021 they exceeded their pre-pandemic levels one year ago by 21%. And in Q2 2021, iBuyer purchases rocketed to nearly double their Q1 2021 total. But the biggest trend is the rapidly growing influence of Power Buyers (a term coined by real estate tech strategist Mike DelPrete). Power Buyers provide homeowners with "buy before you sell," "sale leaseback" and "cash offers" services. Power Buyer firms include EasyKnock, Homeward, Knock and Ribbon. The new zavvie report found that in the first half of this year, more sellers than ever utilized the services offered by a range of companies that are fundamentally changing how residential real estate works. Stefan Peterson, zavvie Chief Data Officer and Co-Founder, explains the impact on the typical consumer. "A Denver buyer with a traditional mortgage and a loan contingency had to make offers on an average of seven homes before winning the day," Peterson said. "Homebuyers with all cash averaged just 1.1 submissions before getting their offers accepted. Power Buyers give homeowners a massive advantage in today's marketplace," he added. The zavvie Seller Preferences Report is the only ongoing review of its kind for every selling solution available to homeowners throughout the U.S. The report looks specifically at activity among iBuyers and the increasing influence of Power Buyers nationwide. It examines offer strength, offer acceptance rates, service fees, market availability, buy boxes, average concessions, and time to close for selling solution providers. The zavvie Seller Preferences Report 2021 highlights: Power Buyers are showing explosive growth: Ribbon reports demand for cash offers has increased 10x in 2021. EasyKnock's Q1 business grew 70% from the previous quarter. And Knock expanded from three markets at the end of 2019 to 49 markets by the end of June 2021. iBuyers are making better offers: iBuyer purchases by Opendoor, Zillow Offers, Offerpad and Redfin Now, on average came in at 104.1% of market value during the first half of 2021. "Buy boxes" expand: The average home sale price for iBuyers increased 22% by June 2021, as the average iBuyer purchase price jumped at the end of 2020 from $280,000 to $344,000 in Q2 2021. iBuyers are lowering fees as average concessions, service fees plummet: Average consumer costs of selling to an iBuyer dropped 25% by midyear 2021. iBuyer service fees dropped in Q2 2021 to 5.1% versus 7.2% in 2020. Moreover, the average concession charged to sellers for home repairs fell in Q2 2021 to 1.9%, down sharply from 3.8% in 2020. iBuyers want more: In iBuyer markets, eligible inventory increased from 32% to 43%. Power Buyers top iBuyers with higher price points: Average transaction price for Power Buyers was nearly $430,000, or 25% higher than the average transaction price for iBuyers ($344,000). Power Buyers drive more cash offers: Various Power Buyers reported growth for cash offers provided sellers ranging from 2x to 10x compared with Q4 2020. Offer acceptance rates up for both Power Buyers and iBuyers: Sellers accepted 37% of offers provided by Power Buyers through June 2021, up from 31% in 2020. The iBuyer offer acceptance rate also increased in the first half of 2021 to 5.7% versus 4.6% in 2020. Faster closings: For iBuyers across all markets, the average time to close midyear 2021 was 38.3 days versus 48.5 days for 2020. Power Buyers and iBuyers both win high consumer satisfaction scores: Both posted impressive customer satisfaction scores – roughly 9 out of 10 – indicating their customers would do it again. The complete zavvie Seller Preferences Report is available for free at zavvie.com/seller-preferences.

Delta Media Tops Real Estate Technology Integration Study
Real estate technology systems that don't "talk" to each other are among the most frustrating pain points for real estate brokers and their agents. Research documents the importance of "systems integration," which ranks among real estate leaders as the number one need in real estate. The WAV Group and RE Technology surveyed technology experts responsible for integrations at leading brokerages and residential proptech firms to understand industry benchmarks on systems integrations. Delta Media Group, a leading real estate tech firm, dominated the rankings along with MoxiWorks. A survey of three dozen technology experts shows that Delta Media and MoxiWorks rank first or second in all four major categories studied: the overall quality of the integration, the quality of the data transmission, Single Sign-on (SSO) quality, and customer service. For Delta, the results are surprising, says Michael Minard, Delta Media CEO and owner, explaining, "Eighteen months ago we realized that we had only completed a few dozen integrations, so we were not known for integrations," he said. "Fast forward to today and we are nearly at the top of the industry with more than 100 third-party integrations, including a deep integration with Zapier that unlocks thousands of integration possibilities with our platform." "MoxiWorks and Delta Media are clearly the real estate tech leaders for setting the highest standard in systems integrations," said Victor Lund, founding partner of WAV Group, who headed up the study. "It's also clear that real estate tech firms need to pay more attention to systems integration. Only 16% of those surveyed said systems integration was of 'little' to 'no importance' to their firm's success," Lund added, noting more than half – 54% – said integration was "very important." Minard added that he found the data "fascinating" being ranked at or near the top of each category, particularly since MoxiWorks is well-known for integration. "Both Delta and MoxiWorks understand the needs of the broker and agents when it comes to systems integration. Delta is already in the process of upgrading how integrations work in DeltaNET 6 and, as a result of this study, we are raising the bar and looking to be the leader in all areas by 2022." Over the next nine months, Delta Media will have completed "a major enhancement to the DeltaNET taking the complexity out of the integration process," Minard said. Among the tech experts that WAV Group and RE Technology surveyed, 85% have been doing integrations for 5+ years and integrate with at least six other technology platforms. The study also offered support to RESO data standards, with more than two in three surveyed noting that using Real Estate Standards Organization standards is "helpful" for integrations. Sixty-nine percent of those surveyed identified themselves as RESO members. Here are the rankings of the top nine companies, selected by the WAV Group and RE Technology, for the systems integration study: Overall Quality of Integration 1. MoxiWorks2. Delta Media3. Reliance Network4. Gabriels Technology Solutions5. Inside Real Estate6. Real Estate Webmasters7. Constellation8. TRIBUS9. IDC Global Data Transmission Quality 1. Delta Media (tied)1. MoxiWorks (tied)3. Reliance Network4. Inside Real Estate5. Gabriels Technology Solutions6. TRIBUS7. Constellation8. IDC Global9. Real Estate Webmasters Single Sign-on Quality and Stability 1. MoxiWorks2. Delta Media3. Inside Real Estate4. Reliance Network5. Gabriels Technology Solutions6. Constellation7. TRIBUS8. IDC Global9. Real Estate Webmasters Customer Support 1. MoxiWorks2. Delta Media3. Inside Real Estate4. Constellation5. Reliance Network6. TRIBUS7. Gabriels Technology Solutions8. Real Estate Webmasters9. IDC Global Delta Media, which is currently rolling out its new Local Showings software solution to MLSs and brokerages nationwide, integrates with more than 100 different systems and platforms. Delta's Minard also shared that dozens of additional systems integrations will occur over the next several months.

Coldwell Banker Releases 'The Report,' a Comprehensive Profile of the 2021 Luxury Real Estate Market
Coldwell Banker Real Estate LLC, a Realogy brand, and the Coldwell Banker Global Luxury program released "The Report: 2021 Global Luxury Market Insights," an in-depth analysis of emerging luxury markets and buyers. Included in the report are noteworthy trends shaped by an extraordinary year full of uncertainty and change, as well as top performing luxury markets of 2020 and those to watch in 2021.

Delta Media Polls the Real Estate Industry: Would You Use a New, Independent Showing Service?
Delta Media Group announced today it is polling real estate agents, brokers, and Multiple Listing Services decision-makers if they would use a new, independent showing service. Delta Media, one of the most established and largest real estate broker technology solutions providers, offers a limited showing platform that has been in existence for 20 years as part of its all-in-one CRM, web, and digital marketing solution. Delta is polling the real estate industry to gauge the level of interest in a new, full-featured, independent showing platform. The link for taking the online poll for a new showing service is at deltamediagroup.com/poll. "Our current showing platform is 90% of the way to being a full-featured system," said Michael Minard, CEO and owner of Delta Media. "We are ready to make a significant investment of dollars and resources to finish that last mile if we are certain there is enough market demand to warrant the effort," he added. Delta Media's Minard shared that, over the past 10 years, Delta has considered bringing the showing platform to the market, which includes creating a robust calendar interface and full management of the showing experience, but "we had decided to not launch our product because of the market share that other platforms had, but I believe that changes with yesterday's announcement." Delta Media currently works with 95% of the MLSs in the U.S., developing over the last two decades a reputation as a trustworthy partner by delivering the highest level of reliability, including system performance in 2020 with 99.999% uptime. Minard added that Delta is reaching out to MLSs, large firms, teams, and agents that use its platform, "but also want to hear from other folks throughout the real estate industry."

zavvie Launches First-ever Seller Preferences Report
Real estate is red hot, but how have iBuyers fared in the last quarter? Has their average time to close a transaction gone up or down? Are iBuyers seeing more or fewer offers being accepted by homeowners? And how are the new buy-before-you-sell bridge providers doing? All of these questions — and more — are answered in the first-ever zavvie Seller Preferences Report created and released today by zavvie, the first end-to-end real estate brokerage platform encompassing all selling solutions. "As more homeowners think about selling their homes within the next year, many won't — because they are nervous about how to do it because of COVID, scarce inventory, and general uncertainty," said Lane Hornung, zavvie co-founder and CEO. "Our new report provides all the details." The zavvie Seller Preferences Report is the first quarterly review of its kind for all the selling solutions available to homeowners throughout the U.S. The new report looks specifically at the relaunch of national iBuyers in all their pre-COVID markets and the increasing influence of bridge solutions in the marketplace. The quarterly report features a new nationwide map that shows where leading iBuyer and bridge solution providers operate, market activity and volume, time to close and concessions stats, and offer acceptance trends. The zavvie Seller Preferences Report highlights: iBuyer purchase volumes for Q3 were 82 percent lower compared to last year. While iBuyer buy boxes haven't formally changed, they are expanding to include condos, higher-priced homes (in some cases, seven figures), older homes, and more eclectic housing. iBuyers' offer strength is down 3.1 percent, as collectively, they have been purchasing homes at 95.5 percent of market value across all markets, compared to their 2019 comparable average of 98.6 percent. Offer acceptance rate for iBuyers is up slightly (0.5 percent) to 4.7 percent, up from 4.2 percent in 2019. Bridge solutions are on fire, as consumer acceptance of bridge buy-before-you-sell offers are roughly four times that of instant offers from iBuyers. Time to close — the number of days that start when a seller first contacted an iBuyer to request an offer until the closing occurred — is up 4.8 days in Q3 to 49.4 days versus 44.7 days in 2019. The debut of the new zavvie report is important, Hornung explains, because sellers have more choices today than ever before. Still, homeowners often lack the information necessary to determine what option will be the best one for them right now. "This is another tool that will help empower the modern agent," added Hornung, noting the recent launch of zavvie Pro. "The modern agent brings all of the selling options — iBuyer, bridge solutions, and an open market listing — to the table. "The modern agent does not fear what disruptors are doing. They co-op it because the modern agent is the trusted advisor who a consumer wants to help them fully understand all their choices, including the advantages and disadvantages of each." The complete zavvie Seller Preferences Report is available for free at zavvie.com/seller-preferences.

Research-Powered Communication Is Rocket Fuel for Marketing
In our last blog article, WAV Group PR and Communications Strategist Myra Jolivet distinguishes between marketing and public relations tactics. Magnetic PR storytelling elevates your voice and supplements your competitive edge. While communications plans do not need to be complex or expensive, they do need to be laser targeted to specific audiences with a resounding message. The hardest part is serving the demands of your market segment by delivering newsworthy advances in innovation.

Broker Pain Points, RESO Solutions Highlight Tech Survey
RESO's Broker Advisory Workgroup is hosting discussions that illustrate ongoing pain points for brokerages. Access to data is at the top of the list. Brokers regularly cite high costs for MLS data – which brokers consider to be their own – and access to data in general as ongoing concerns. Brokers regularly turn to aggregators to clean up the data they receive from multiple MLS sources. Data consolidation and normalization are needed, as data directly from MLSs often varies dramatically and presents challenges. WAV Group reached out to customers of several leading MLS technology and service providers for its 2020 Data Services Survey to learn what services customers want to see from their providers and how RESO standards can help to pave the way. Respondents were purchase decision makers, and nearly half of them self-described as C-suite or VP-level. Top technology items purchased included: The data that brokers provide their agents includes property activity (current listings, pending sales, sold data), local community information (schools, neighborhoods, public records, flood information) and company information (broker's listing history, membership/agent rosters, VOW data). Brokers see a growing need for more data to fuel their businesses in the future. The top data needs brokers are considering adding to their applications in the future, in priority order, include: Public Records Broker Listings History Sold Property Data Flood Zone Information Neighborhood / School Information The most modern data feeds today are supplied via APIs (Application Programming Interfaces). Although RETS (Real Estate Transaction Standards) data feeds from MLSs still play a significant role today, there is a growing desire to progress to the RESO Web API standard. Collectively, RESO-compliant data feeds blanket the real estate data services marketplace, and it's clear that the trend is moving away from RETS to RESO Web API. Among survey respondents, 68 percent would like to see most of their data feeds delivered by RESO Web API in the next 12–18 months. The number of organizations who have not yet moved to the RESO Web API is diminishing dramatically, according to Marilyn Wilson of WAV Group, who oversaw the survey. Those that haven't switched yet are hoping for more consistent, seamless integrations across systems, which is an ever-present effort at RESO. Some holdouts have said that the Web API does not always deliver the data needed, but these situations arise based on decisions made by local MLSs and their vendors, independent of the Web API standard. RESO continues to work with MLSs and technology companies to ensure that the most robust data sets are available to MLS participants and their technical staff via the Web API. Improvements in testing, training and functionality are occurring on a near-weekly basis and can be tracked in RESO's Transport Workgroup. Fans of the RESO Web API point to ease of integration, the support of the development team to use APIs in general, and the fact that the RESO Web API is easier to interface with and manage. Brokers who are reliant upon a single MLS data feed are atypical, as 58 percent of respondents stated that they secure data from multiple MLS and third-party data services providers, while 31 percent said they received their data solely from the MLS and 11 percent received data solely from third-party providers. Aggregated data feeds – one service that combines access to multiple types of real estate data – were viewed as very to extremely valuable by two out of three respondents. More than one data services provider (e.g., Trestle, Bridge, MLS Grid, Spark API, MLS Aligned) is often used by individual brokerages. For those who prefer to work in a non-aggregated data services environment, reasons cited included the ability to get more data and have more transparency by working directly with each MLS individually. This, again, is a situation created through limited data access in individual implementations of the Web API, not the Web API standard's overall capabilities. Adopting a standard data services approval process was desirable for 71 percent of brokers. Much like many colleges and universities have standardized their application processes, brokers would like to have clarity in the data access process when joining a new MLS. One of the most striking pain points disclosed in the survey was that just 16 percent of brokers believe that they are getting good or great value from the data services charged by individual MLSs. The primary messages to MLSs and third-party data services providers from the survey results are as follows: Provide reliable and complete broker back office data feeds Create clear processes for data access that are easy to find and have predictable documentation Move data access from RETS to RESO Web API Offer the RESO Web API as the default data feed and make it accessible, not as a secondary option which requires a special request to access Price data services to reflect the critical role data plays in the brokerage business and not as a hindrance to broker innovation The work RESO is doing today is addressing current broker pain points. Continued collaboration and problem solving among RESO, brokers, MLSs and technology companies will continue to allow brokers better technology and data at lower prices and with more efficient means to deliver value to their customers. To view the original article, visit the RESO blog.

REAL Trends Case Study: Agent Churn 42% Lower with Adwerx Automation
Attrition, turnover, churn. Whatever you call it, nobody likes losing their employees, period. In real estate, the agent churn rate is insanely high. Here are a couple of tidbits about the average agent tenure: Tom Ferry: 87% of all real estate agents fail National Association of REALTORS: Median tenure at a firm has dropped to four years Combine those industry stats with the fact that the average employer spends about $4,000 to hire a new worker, and we're painting a pretty bleak picture. In any economic climate, the logical question becomes "How can I retain more of my agents?"

Why Is Census 2020 Important for Realtors?
It is already April, and Census 2020 has gone online. Everyone in the States can now go to the Census website and participate in this massive data collection through phone or mail. According to the following infographic by NAR, the census begins in March and continues up to December:

Millennial Real Estate Facts and Tips
Millennials now number about 83 million, or over a quarter of the nation's population, and they're predicted to become the nation's largest population in 2019, overtaking Baby Boomers. They're also the largest generation in the workforce, with the oldest members of this generation approaching 40. This is the beginning of a demographic trend that has some financial strategists making a long-term, bullish case for the U.S economy and the stock market. For the last few years, the 18-to-35-year-old demographic has been the largest home buyer group at 36%, according to the 2018 buyer and seller trends report. If you're used to catering to older generations, it's time to pay attention and adjust to the needs and expectations of millennials if you expect to grow your business into the future.

Learn How the Real Estate Industry Is Avoiding Economic Meltdown with the Broker Public Portal
Started by a group of MLS executives and brokers who were tired of handing away their value to third parties who took their listings and sold them back the leads generated from their own inventory, Broker Public Portal with Homesnap is the national consumer home search platform built from within the industry and governed by Fair Display Guidelines, which guarantee "your listing, your lead." Download the NWMLS Case Study NOW to learn more The industry-controlled portal – operating as Homesnap – has become our industry's greatest "overnight" success story. It has generated over one million free leads for REALTORS® across the country and is the number one rated real estate app in App Store.

New Homebuilder Study: What Millennials Want, Don't Want
Millennials say yes to extra space – patios and garage storage – but say no to wine cellars, golf courses, and pet washing stations. And for pete's sake, don't show them homes with only a shower stall in the master bath! Those are just a few of the findings of a massive survey looking at which home features Millennials prefer. The National Association of Home Builder Economics team asked Millennials to rate and rank 175 of them.

A Glance at America's Most Prominent Minority Homebuyers
Last week felt like I was drinking from a fire hose--my partner Marilyn Wilson and I attended the 54th Annual Real Estate Journalism Conference for the National Association of Real Estate Editors. From the buzz created by Marilyn's participation in the disruption panel to connecting with faces new and familiar, the event marked an exciting opportunity to connect over the industry's latest research findings. NAREE celebrates its 90th birthday this year and includes most of the nation's most prolific real estate reporters. I have attended more than two dozen conferences since I joined NAREE. This gathering took place in Austin, which I mentioned in a previous article is one of my favorite cities, and it did not disappoint. Nearly 200 journalists and communicators showed up for a packed agenda that revealed, among other things, some terrific new housing research. Here I want to share some of the key findings from a study by another great organization, the Asian Real Estate Association of America (AREAA). Through advocacy, business development, and education, AREAA aims to improve homeownership statistics for Asian American and Pacific Islanders (AAPI), a community comprised of over 50 ethnicities and 26 languages. I first got to know AREAA when I worked at Great Western Bank in California. Later, when I was head of Fannie Mae's housing affordability office in Seattle, I became intimately familiar with the research surrounding Asian Americans. One of the newest efforts, sponsored by RE/MAX LLC and Freddie Mac, is its "State of Asia America 2018-2019" report. It's packed with insight into a community that too often goes overlooked in the real estate market—the numbers for AAPI homeownership, education, and economic advancement often stagger those who are unfamiliar with this demographic. Opportunity arises The AAPI community comprises America's fastest-growing demographic. As 2019 AREAA President Tom Truong notes in this report, AAPI families are relocating into every region of the country, and not just the coasts. Driven primarily by the search for homeownership, these families are also migrating toward the Midwest and the South. This demographic is economically vibrant: the average Asian American household income is $73,000. That's $20,000 more than the overall U.S. median income. AAPIs rank highly when it comes to maintaining a savings account, with a stunning 86% of the population having some established savings. Nearly 30% of all AAPIs currently own stock in their savings or investment portfolio. AAPI buying power has increased by 257% from 2000 to 2017. Asian Americans as spenders are equivalent to the fourth largest state's economy in the U.S. or the 17th largest economy in the world, just behind Mexico. Their future is even brighter: AAPIs comprise the fast-growing student population in the U.S. The growth rate is striking: undergraduate enrollment rates have ballooned from 198,000 in 1976 to 1.7 million in 2019. More than half (52%) of all AAPIs earn a bachelor's degree versus the national average of 30%. The top fields of study for AAPI students: engineering, business and management, math and computer science, social studies, and physical and life sciences. Employment rates among AAPIs are the highest of any minority at 61%. Asian Americans rank number one in average weekly earnings ($1095). That's significantly higher than both Black ($712) and Hispanic ($684) Americans and tops white Americans by about 18% ($931). AAPIs are often successful entrepreneurs: there are over 2 million AAPI-owned firms in the U.S. Between 2007 and 2012, AAPI-owned businesses grew by 24%, and their sales grew by 38%. Of 87 startup firms valued over $1 billion, 19 were founded by Asian Americans. Homeownership is a hallmark of AAPI achievements. AAPIs have the highest rate of homeownership among minorities. Since 2010, AAPIs have been the most active minority participant in the housing and mortgage markets. More AAPI families applied for conventional purchase mortgages last year than any other minority group, as measured by both the number of loans and their total value. While AAPI homeownership still falls behind the national average, the number of AAPI homebuyers has increased by 27% since 2001. AREAA shows that continuing to close this gap by expanding access to credit and ensuring home affordability for these communities benefits America's economy directly, creating clientele and strengthening business partnerships. The report has a LOT more data and is well-worth digging through, but one fact jumps out at me. With the non-Hispanic white homeownership rate north of 73% and an Asian American homeownership rate of 58.1%, based on all the AAPIs data, the opportunity for real estate professionals to serve better this historically underserved market is as enormous as it is ready for lift-off. Request a download of the report on AREAA's website. To view the original article, visit the WAV Group blog.

The Power of the Power Broker Report from RISMedia
It seems that the number of top brokerage lists is getting cluttered. REAL Trends has its perennial 500 Top Brokerage list, and they have always been the gold standard of top brokerage and agent lists with the most reliable data. Then last year and again this year, T3 Sixty came out with its Mega 1000 list, which they recently released their second one. But as a business consultant, to me, the clear winner in terms of practical value is the work that RISMedia does with its annual Power Broker Report. Let's face it: the RISMedia Power Broker Report is the industry's favorite. And with good reason.

Majority of Real Estate Firms Remain Optimistic, Evolving Technology Remains a Challenge
The evolving technological landscape, competition from nontraditional market participants and housing affordability continue to be among the biggest challenges facing real estate firms in the next two years, according to a report by the National Association of Realtors. NAR's 2019 Profile of Real Estate Firms found that commercial real estate firms were more likely than residential firms to cite local or regional economic conditions as the biggest challenges, while residential firms were more likely to mention competition from non-traditional market participants and virtual firms.

Need a Proven Way to Protect Your Brokerage Against Disruptors?
Are you tired of reading about the billions of dollars being invested to convert many of the real estate industry's brokerages and franchises? Are you wondering how you are going to compete to recruit and retain agents and without killing your own bottom line? WAV Group just released a case study highlighting a meaningful way that Daniel Gale Sotheby's International Realty is leveraging their own historical data to do just that. This smart, tech savvy brokerage is leveraging 20 years of historical data to create a data warehouse that can be used to retain agents by providing them with actionable insights that lead to business success.

New WAV Group Study Reveals CRM Usage Is Key to Driving Sustainable Broker Profitability
WAV Group recently fielded its WAV Group 2019 CRM Effectiveness Study. The study distributed to 71,581 brokers across the country, clearly demonstrated that Client Relationship Management (CRM) solutions are becoming mainstream. Key Takeaways

A Look Inside the 2019 Swanepoel Trends Report
Author Stefan Swanepoel began writing a series of Trends Reports in 2006. His 2019 report does not disappoint. The report chronicles the top 10 trends that he recognizes as material topics for our industry to think about. Swanepoel believes that this year will be "the single largest industry transformation in living memory." The 10 significant trends that were identified are as follows:

A Google Study on Team Efficiency: 5 Takeaways for Your Real Estate Business
Project Aristotle A team at Google wanted to explore what types of people and qualities make up the "perfect" team. They studied 180 teams (115 project teams in engineering, and 65 sales pods), and ultimately defined five aspects of effective teams. We will explore these five dynamics, what they mean for a real estate team, and how you can implement them to improve your team efficiency.

Leads vs. Brand: 3 Ways to Align Agent and Broker Marketing Goals
How do brokers and agents differ in their marketing priorities? A recent REAL Trends study analyzed the strategies that both groups use to market their business. The study, co-commissioned by Adwerx, revealed that agents' marketing was driven by immediate lead generation needs, whereas brokerages aim for long-term goals like branding and community awareness. Today, we'll explore how brokerage and agent marketing goals differ, where they overlap, and how brokers can work to better align with what their agents need. An Overlap in Marketing Strategy While the REAL Trends study points out that agents are client-driven and brokerages are brand-driven, there is a surprising amount of overlap in their marketing strategies. In fact, the study found that the top four responses to "What do you invest in to market your brand?" was identical among both agent and brokers: Websites Social media Yard signs Listing portals Agents said that their next two priorities were open houses and direct mail--two lead-focused tactics. Brokers, on the other hand, next identified brand-driven strategies like community involvement and print advertising as their top marketing methods. The branding/lead divide persists through the rest of the study in responses to questions about spending priorities and the success of individual tactics. However, while agent and broker answers differed, "social media" was listed as a top successful strategy by both groups. Aligning Marketing Priorities The study makes it clear that agents have a lead-driven marketing focus. Knowing this, how can brokers support agents in their marketing goals while still serving the branding needs of the brokerage? Here are a few ideas: 1. Co-branded Agent Websites A challenge that brokers commonly face is keeping brand representation consistent across all of their agents' marketing. Real estate websites, the number one marketing strategy for both agents and brokers, are a prime example. Messaging on an agent's website may not align with the brokerage's, the broker's logo on the agent's website may be outdated, or the branding of the two may clash aesthetically. One solution to this problem is to deploy co-branded websites for all of your agents. A typical co-branded agent site displays your logo and brand colors, while focusing on the agent and their services. The shared design elements and site structure reinforce that the agent is one part of a larger whole--your brokerage. And by linking all co-branded agent sites back to the brokerage's site, you can even boost the SEO of your firm's main website. 2. Automated Marketing Brokers can further ensure the consistency of their brand by automating much of the marketing that their agents need. You can use your listing data to power much of this process. A listing input into your system can trigger the creation of listing flyers, postcards, virtual tours, and more. RE/MAX's Marketing Center is a famous example of this kind of automation. New listings can also trigger the creation of digital ad campaigns, too. Companies like Windermere, Alain Pinel, and RE/MAX automate the creation of digital listing ads through Adwerx Enterprise. The ads feature the the brokerage's branding, but sport the agent's contact information so leads can contact them directly. And, bonus, when campaigns are extended by agents, the brokerage's brand exposure more than doubles. 3. Social Media Social media was listed as a top three "most successful marketing strategy" for both agents and brokers. When looking at paid social media marketing tactics, brokerages can sponsor listing ads on social platforms like Facebook and Instagram for their agents. This gives brokers control over the ad's branding, while sending leads to their agents. Brokers can create the ads themselves, or use a platform like Adwerx to generate and distribute the ads for them. As for organic social media marketing, the key is in engaging followers. If you have a graphic designer or marketing department, lean on them to create eye-catching infographics with market data, for example, or home buying tips--and, of course, your logo in the corner. Post the images on your social media channels, and encourage your agents to share them. Your agents get great information to share, and you get to expand your brand's reach. To learn more about agent and broker marketing priorities, download the full study here. Learn more about branded digital ads from Adwerx here.    

Real Estate Teams Influence is Powerful, Growing, Studies Shows
REAL Trends collaborated with BoomTown, dotloop and ERA Real Estate in 2016 to conduct a terrific study of real estate teams. Called The Real Estate Teams Playbook, perhaps real estate's most comprehensive look at teams, REAL Trends said it surveyed or interviewed thousands of real estate professionals "to understand the foundation and characteristics of today's most successful teams." REAL Trends not only defined what a real estate team was but also included best practices for broker-owners in developing a team. The 41-page report remained the most definitive look at teams—and most recent—until marketing automation leader Imprev recently released its team study. Imprev made real estate teams the focus of its Thought Leader Study, a biannual survey of real estate leaders it pioneered back in 2012.

Survey of Top Execs Shows Benefits, Risks in Supporting Teams
Real estate executives across the country are acknowledging teams and their higher sales volumes with more eagerness than five years ago, a new study from Imprev shows. The Imprev Thought Leader Study, which surveyed brokerage leaders representing firms of all sizes across the U.S., found that execs are in broad agreement (80 percent) that teams have helped grow their brokerage's business over the last five years.

WAV Group Report: Emerging Data Solutions in Real Estate
WAV Group is excited to contribute this report on Emerging Data Solutions in Real Estate. There is so much activity happening across the industry that it is hard to keep all of it straight. This report is written as an overview for real estate executives. There is a little bit of technical reporting to help understand some of the fine differences in some emerging data solutions that seem to be quite similar. This paper aims to deepen the understanding of how broker listing and agent data is entered, stored, and transported. We cover the history of evolution from early data transportation using File Transfer Protocol (FTP), to the development of the Real Estate Transaction Standard (RETS) and now the emergence of Application Programming Interfaces (APIs). Each of these steps has allowed the real estate industry to leap forward in supporting the needs of our professionals and the consumers they serve. APIs are changing everything today because they allow software systems to share information and talk to each other in meaningful ways.

Real Estate's First HyperLocal White Paper Discovers a "Movement"
Social media, mobile technology and marketing automation: those are the three ingredients that are changing real estate in a profound and everlasting way. And, unlike many skeptics, I believe it's for the better. My proof is the emergence of a "HyperLocal Movement" in real estate that the confluence of these three has fueled. Now there is really nothing new about the "idea" of HyperLocal in real estate. No other industry has been more focused on being local than ours. Many agents have legitimately been practicing hyperlocalism for years, if not decades. What is new is what's happening NOW with hyperlocalism, or more importantly, what's NOT happening across America. That's the conclusion of a brand new white paper from the WAV Group — HyperLocal Movement in Real Estate – that we just issued. It was sponsored by a very hot Colorado real estate tech startup zavvie, a broker technology provider that specializes in HyperLocal marketing. It's 100 percent free. This beautiful 40+page report is filled with graphics, statistics, and information from expert sources inside and outside of real estate. Download it here.

Imprev Real Estate Leader Study Shows Record Confidence in Economy, Housing
Real estate leaders' confidence in the 2018 U.S. economy and housing market is the strongest it has been in the last six years: An unprecedented 73 percent of top executives say the U.S. economy will improve or improve significantly, according to the latest Imprev Thought Leader Economy & Housing Outlook Study. "Real estate leaders have not been this optimistic about the U.S. economy since we started the Imprev Thought Leader Survey in 2012," says Renwick Congdon, Chief Executive Officer of Imprev, the leading provider of automated marketing services for real estate franchises and brokerages. "With confidence levels so high, now is the time to take advantage of new opportunities to keep up with consumer and agent demands. I look forward to seeing what the industry can accomplish," he added, noting top real estate executives' confidence in America's economy has more than doubled since October 2016 when 32 percent said the U.S. economy would improve or improve significantly. The 2016 survey was conducted immediately prior to the U.S. presidential election. The highest confidence level prior to the current study was 54 percent in 2012 [See Graph A]. GRAPH A

Study Says Longer Tweets Are Better
Twitter for real estate is a curious strategy. There was quite a bit of discussion about Twitter in some of the Facebook groups that I am in. #thatsfunny In all seriousness, when WAV Group evaluates the effectiveness of social media marketing and advertising (those are two different things), the numbers prove that Facebook is far more effective in every matrix of reporting. The data suggests that Facebook is core, Twitter is niche. If you do market on Twitter as part of your surround sound system, you likely already know that Twitter extended the number of characters from the old 140 to the new, abundant 280. A study published by SocialFlow outlines the following results from their research:

Redfin Case Study Shows that Web Traffic Does Not Drive Sales
If you ask any REALTOR about the relationship between online website traffic and sales volume, they will tell you that there is a direct relationship. The conviction among Realtors is that companies that have the most amount of consumer website traffic sell the most amount of homes. This belief has stirred the root of Realtor® emotions, causing them to vilify the Zillow Group. A new entry of concern is Redfin, a company that has long battled with Zip Realty for online website domination. Redfin's IPO has been a great success that is causing competing brokers to contemplate their future in this online real estate landscape. WAV Group just completed a case study to explore the correlation between online success of a brokerage and transaction volume. The results of our survey indicate that winning online does not correlate to transaction success. The methodology for our research used the Seattle marketplace. This is Redfin's top marketplace of any city in America.