There has been a lot of talk lately about the “Future of the MLS” and “industry trends” moving forward along with other buzzwords subject to such wide interpretation you could probably shove the entire RPR data set through them. (I was shooting for enormous here – I hope you all caught it!) At times there is so much information and speculation that it’s hard to decide what to do next. Too often the end result for MLS organizations is that they decide to “do nothing” or “wait and see” what their peers do. (See my partner Troy Rech’s post )
We are all waiting to see if it plays in Peoria (shout out to our friends and SAFEMLS customers at the Peoria Association of REALTORS!) In reality, I think NOW has never been a better time for MLS organizations to use every possible tool and strategy available to them to better understand their customers. Right now, the consumer is not your customer but the brokers, agents, appraisers, lenders and other consumers of high quality, accurate real time market information are. A few questions for MLS organizations to consider:
- How much do you know about your subscribers and how engaged they are with your service?
- Do your value added services truly add value and do you have a way to monitor and measure them?
- Do you think you have brand loyalty or are you just dial tone?
- If a viable competitor for your MLS data were available in your market would they still choose you?
Earlier this week one of our technology partners, Scout Analytics, wrote a blog post on monetization of a customer being based on their level of engagement. Scout was speaking to digital media publishers, but I believe there are parallels to the MLS world. I also think some of the strategies that they are using, including more sophisticated analytics that don’t just tell them what content is most popular, but also provides insight by reporting customer loyalty and customer demand, have applications in the MLS world.
Clareity Security is excited to go to NAR in New Orleans next week and talk with attendees about how we can help you better understand your customers and subscribers. If you are a Clareity Security customer and haven’t yet signed up for our User Group please email us your RSVP. If you are interested in talking about how Clareity’s solutions might work for your organization – find us at the NAR Expo in booth 1100.
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