Facebook
X
Pinterest
Copy Link
Real Estate Data Standards: What They Mean & Why They Matter
By Cass Herrin, Director of Data Services at MoxiWorks
One of the most exciting and least understood developments in real estate over the last five years has been the increasing pace at which the Real Estate Standards Organization (RESO) has driven the adoption of data standards across the industry.
What are real estate data standards?
As you probably know, technology vendors and brokers receive “feeds” from MLS organizations and those feeds supply listing information to the technology products used by brokers. These MLS feeds provide all the information available to brokers about a listing. Historically, writing software to handle these feeds has been complex and time consuming. Adding a new MLS to a product could often take many months. RESO’s push for the adoption Data Standards is making that process much easier.
An example might help: the most common piece of data provided by all MLS organizations is the MLS Number. At one point, a few years ago, we identified nearly 30 different ways this single field was named in the feeds we used. For a software company dealing with MLS Listing information, that meant the code needed to be written to account for each of those ways. It also required that new code be written anytime a new MLS was added to a product.
Multiply that scenario times the 150 data points an average feed provides and you get some idea of how inefficient and error prone that process could be.
With the increasing adoption of RESO Data Standards across the industry, brokers and vendors like MoxiWorks can bring a new MLS to market much faster and more importantly, devote more time to building new, innovative products.
In the past, the complexity of MLS data and the rules that govern it dissuaded companies from entering the real estate technology space. Standards lower the barrier for entry into this market and increase competition, which should result in brokers having access to a growing variety of innovative products. Essentially, if you want a better world, you should definitely be in support of standardization.
Is that all?
Not quite. While standards are an extremely important step forward in increasing innovation and driving down costs, the complexity of the MLS rules that govern feeds and the way data may displayed also hinders innovation.
We would like to see the industry standardize not only the types of data provided, but also the rules around how feeds are provided and how data may be displayed.
We recognize that protecting broker’s listing data is the responsibility of the MLS. The origins of MoxiWorks are as the technology department for a large brokerage. We are still owned by three brokers. We have always understood the important role that the MLS plays in this industry.
But we also know very well that MLS data licensing and display rules slow down innovation across the industry.
A final example: If the same broker or vendor has both a back-office tool and IDX sites, is it really necessary to have two separate feeds, one for each product? Or even worse, is it really necessary to have two feeds for every customer using those products in that market? Surely data duplication carries more risk for inaccuracy and error than a single feed with rules that support multiple applications? Complicated feed rules make for software that is more complicated to build and maintain. More time spent doing this means less time focused on improving existing products or building new ones.
Like creating standards, this won’t be easy work, but we already see many progressive MLS that are providing models for how to streamline this process. Through the efforts of CMLS and NAR the display of Sold Listings on IDX sites is nearly ubiquitous. Certainly, that can serve as an inspiration to do more!
What these real estate data standards mean for brokerages
We believe all of this will support the ultimate goal of making sure that brokers have control of their own data and where that data can be sent. Historically, MLS have been focused on making sure that a listing doesn’t end up somewhere unintended – a valid concern, but we are in a different era now, one where there are so many different advertising platforms and productivity tools available to brokerages.
That choice should be in the hands of the broker. The broker’s choice on where listings are distributed is something all of us; brokers, vendors and MLS organizations, should work to support. Solid Data Standards and simplified, consistent MLS rules can help make that possible.
Episode 4: Eric Cosway, VP and CMO of QuantumDigital
Podcast: Play in new window | Download
Subscribe Apple Podcasts | Spotify | RSS | More
This episode of the REAL with MoxiWorks podcast features special guests Eric Cosway, Executive Vice President and Chief Marketing Officer at QuantumDigital and Kylah Searing, Director of MoxiCloud Partnerships and Integrations at MoxiWorks. In this episode of the REAL with MoxiWorks pdocast, you’ll listen to them discuss the modern world of direct mail marketing and the value in using integrated marketing technology to boost your brokerage and agent workflow.
3 Trendy Real Estate Closing Gifts Your Clients Will Love
By Maddie Jostol, Senior Marketing Manager
The most important thing you can do for your business is to nurture your sphere of influence to grow repeat and referral business. This is hands down the best source of business in real estate, and it’s right there at your fingertips. Rather than letting those valuable contacts in your database go to waste, it’s in your best interest to stay in touch with them and remain top-of-mind as their go-to real estate expert.
To solidify a strong, lasting relationship with your clients, give them memorable closing gifts. Below are a few trendy ways agents can continue to deliver an outstanding experience that clients will be sure to tell their friends and neighbors about, even after the sale.
Real estate closing gifts: Subscription-based service
Everything is now subscription-based. You can order everything from groceries to razors through a subscription because convenience is everything.
Consider subscription-based closing gifts for your clients to offer a personal and lasting impression. A gift like this is easy to make personal, showing your client that you understand them and appreciate them. For example, you can tailor gifts for the heath nuts, the dog lovers, the wine connoisseurs, the bookworms, and the world travelers.
The beauty of this type of gift is that it is quite literally the gift that keeps on giving. These ongoing touchpoints keep you top-of-mind long after the sale and remind your clients how much you enjoyed working with them and how much you’d love to work with their friends, family, and neighbors. Recurring gifts are a set-it-and-forget-it way to keep in touch, rather than continually thinking of and organizing seasonal gifts.
Keep in mind that these don’t have to be monthly. If you don’t want it to cost you an arm and a leg, consider a service that will allow you to send a gift on a quarterly basis.
Help them with the move
Moving is stressful. No matter how much you prepare and organize, it still takes way longer than anticipated and is disruptive to your entire life.
Consider closing gifts that help ease the pain of moving or help your clients get settled into their new place. You’ve already helped your client find their dream home and easing the pain of moving will show that you’re willing to go above and beyond to make their transition enjoyable. Services such as MoveEasy, MooveGuru, and HomeDiary for inspiration. These are simple services with reasonable pricing that you can provide to your clients in order to continue the outstanding service you already provide. The thoughtfulness of these gifts goes a long way.
Experiences over stuff
Today, people tend to appreciate experiences more than materials things. When thinking of your next closing gift, consider an experience gift, especially for your millennial clients. Whether your clients are into wellness or the great outdoors, there are endless options for experience gifts that will leave a lasting impression. Giving your clients something they can enjoy with their family, spouse, or friends, is priceless.
Real estate closing gifts should be personal, useful, and fun. Consider these three trends next time you go to thank your client. The key is to be thoughtful, giving a gift that keeps you top of mind for years to come.
#ICYMI: March 2019 Real Estate News
By Jessie Trapp, Marketing Coordinator & Tiana Baur, Marketing Manager
March has quickly come to an end and listing season is coming in hot! We’re excited that Spring has finally sprung and can’t wait to see what Q2 has in store for the real estate industry. As always, we’ve boiled everything down that happened this month to the key stories you need to know to stay up-to-date with the goings on in our industry.
In case you missed it, here are the top five March 2019 real estate news stories to know:
1. “Coldwell Banker Announces ‘Project North Star’ Rebrand—Its First in 40 Years”
After four decades, Coldwell Banker hit the makeover button and got an entirely new look. According to RISMedia, “The announcement was made at the brokerage’s convention, the Generation Blue Experience, on Monday, where the company debuted a fresh logo, which combines the ‘C’ and ‘B’ intersection with a star—evocative of its 113-year history, reliability and steadfast vision, now all the more critical in an evolving industry. The beloved blue coloring, Pantone 280, remains the same.”
Kudos to CB for embarking on a new journey with an innovative new look! You can check out some of the new branding (and a surprisingly exciting video) here.
2. “New Windermere campaign highlights agents who go the extra mile — sometimes literally”
So, this is one deserves a spot in the top five March 2019 real estate news stories to know for one blatantly obvious reason: Windermere is showcasing the awesomeness of their agents. “The new campaign’s tagline is ‘All in, for you’ and features the real-life stories of Windermere agents who have gone the extra mile. The campaign includes TV, print, digital marketing, outdoor ads and partnerships with media companies. TV ads begin airing in the Seattle market today,” wrote Inman News.
Words can’t describe how much we love this!! You can listen to some of the insane stories here.
3. “Realtor.com tests replacing its lead-gen with Opcity, angering brokers”
Not all the top news stories can be feel-good, right?! Unfortunately, when news broke that realtor.com is replacing its lead generation service, it sent many agents into pure, unadulterated, panic mode. It will instead be, “replaced with Opcity, a startup that was acquired by News Corp., the parent company of realtor.com’s operator Move Inc., last year for $210 million,” according to Inman News.
If this news were an emoji, it would be mixture of “grimacing” and our favorite: “face with steam from nose.”
4. RealScout released a short film
RealScout hit us with a new video this week – have you seen it yet?! It’s all about the ongoing resource war and the impending doom leering over us all because of it. It discusses the “battle for consumer data deciding the future of the real estate industry” and asks, “can traditional real estate keep up?”
Spare a few minutes today to watch it – it’s well worth it.
5. “Unlikely allies: Redfin and RE/MAX are teaming up”
According to Inman News, “RE/MAX and Redfin announced a new partnership today that will give RE/MAX agents exclusive access to Redfin’s agent referral program — at a discounted rate — in 5,000 U.S. ZIP codes and throughout Canada, where Redfin recently launched its home search website.” That’s it.
Thanks for reading and stay tuned for another #ICYMI next month!
P.S. If you’re into podcasts (and if you’re not, you should be) we have our very own! Episode #3 of the REAL with MoxiWorks podcast featuring Chris Kelly, CEO of Ebby Halliday, is out now. Have a listen!
Welcome to the MoxiCloud, ActivePipe!
UPDATE: February 22, 2022 — MoxiWorks acquires ActivePipe, click here for the press release
ActivePipe is one of the latest and greatest partners to join the MoxiCloud open platform. They simplify email marketing and automate communications. From a brokerage or office level, email drip-campaigns that seamlessly integrate property data can be created and then deployed on behalf of all your agents, in minutes. ActivePipe then uses behavioral driven analytics to tell these agents exactly who is looking to buy or sell a home, based on how their contacts interact with a campaign’s content.
Here’s a closer look at what ActivePipe has to offer your real estate business:
SEND: build and deploy beautiful, professional and mobile responsive emails in minutes.
Take the hard work out of communicating with an agent’s database with:
- An easy-to-use drag and drop editor
- Instant blog and video incorporation
- Detailed reporting that tracks how contacts interact with properties
- Newsletters that showcase listings with maximum impact
AUTO: your agents can build emails which keep them front of mind by delivering automated customer journeys. These nurture contacts and build trust so your agents are the first person they call when the time comes to transact.
- A simple drag and drop editor
- CRM and Property Feed integration
- Blog and video incorporation
- Local property reports
- Sends automatic, personalized reminders to contacts
- Predictive data analytics to identify active buyers and sellers
- Customer lifecycle programs that help build more meaningful relationships
ENTERPRISE: build emails in minutes, automate customer journeys and use interactive call-to-action pages to identify a client’s next move.
- An easy-to-use drag and drop editor
- CRM and Property Feed integration
- Blog and video incorporation
- Profile an entire database with data discovery surveys
- Instantly generate more appraisals
- Predictive data analytics which identify active buyers and sellers
- Uncover buying or selling intent with advanced behavioral driven profiling
- Customer lifetime nurture programs that create more meaningful relationships
- Promote other products and services using call-to-action pages
We’re so excited to have ActivePipe on the MoxiCloud and you should be too! If you’re an existing MoxiWorks customer and would like to add ActivePipe to your tech stack, simply contact your MoxiWorks Account Manager and they’ll get you set up!
The Latest in MoxiImpress: Facebook Audience Network
By Tiana Baur, Marketing Manager
Let’s talk MoxiMarketing and Facebook Audience Network. What they are, what they do, and why they matter to your business.
MoxiImpress
MoxiImpress, the ever-growing marketing arm of the MoxiCloud, includes digital marketing tools for agents at no added cost to our client brokerage. The heart of MoxiImpress is Promote, an integrated advertising tool that makes marketing simple for busy agents. Promote has various options for both agents, and at the brokerage level.
Promote for agents
Promote gives agents the ability to engage in easy-to-use digital marketing via their existing MoxiWorks account. This leading advertising tool enables agents to promote their listings or their business, in three easy steps, typically taking less than five minutes to complete.
Essentially, we wanted to take the pain out of online advertising for real estate agents, so we built a tool that lives within the technology they use every single day – a ‘one-stop shop’ for their advertising needs if you will. They can create eye-catching ads in mere minutes to promote things like open houses, just listed, just sold, and more.
Promote for brokerages
We know that brokerages are constantly looking for new, innovative ways to support their agents, specifically their listings. Promote for brokerages now has a co-marketing tool for brokerages to boost their recruiting and retention efforts, without adding more work on for their services members.
With co-marketing, brokerages can spread their brand further. They simply select a budget and parameters and cover part of the ad cost for their agents’ listings. For example, they can pick up the tab for 20% of the spend on all listing ads. Every time one of their agents opts to promote their new listing, they then cover 20% of the cost. Brokerages can choose to set one listing ad per agent for the month or for a set duration. They’ll soon even be able to select certain offices, price points, or specific agents to whom you’d like to extend more support. Basically, the power stays with them!
Plus, coming soon are Automated Listing Ads, which lets you automate all of your brokerages ads, pick your own price, and increase your brand awareness in just a few steps. Automated Listing Ads give your brokerage the ability to promote your business, brand, and of course, your listings independently from your agents – quickly, easily, and all without extra staff time.
Facebook Audience Network
This is the latest addition to Promote. The Facebook Audience Network is exactly what it sounds like, a giant network of hundreds of websites that ads push to. Here’s a short list of some of the websites included:
- Men’s Health
- Business Insider
- CBS
- Food Network
- Cnet
- New York Post
- HGTV
- Nasdaq
- Fox News
- 247Sports
- TV Guide
- Complex
- CBS News
- New York Times
- Forbes
- Vice News
- Accuweather
- Golf Digest
- Vogue
- WebMD
- NFL
- Huffington Post
Now when an agent or brokerage uses Promote, the ads automatically go to Facebook, Instagram, and the Facebook Audience Network, expanding their reach, getting more eyes on their brand and listings, and of course, wowing more clients along the way.
Interested in getting this powerful tool for your agents and/or your brokerage? Fill out the form on this page (which takes less than a minute!) and we’ll be in touch shortly after.
MoxiWorks Donates $25,000 to Pike Place Market Foundation
SEATTLE, March 19, 2019 – MoxiWorks, a Seattle-based real estate technology company, is proud to announce its continued relationship with the Pike Place Market Foundation, donating $25,000 in their latest contribution from the Moxi Fund.
York Baur, CEO of MoxiWorks said, “One of the aspects of why we support the Pike Place Market Foundation is the concept of ‘think globally act locally.’ The Moxi Fund is not only about helping housing-related causes, it’s about making the community with which we live and work a better place. Because we’re located a short walk from the Pike Place Market, the Foundation seemed the perfect place to tie these aspects together.”
The Pike Place Market Foundation provides healthcare, housing, healthy food, and childcare to those who need it the most amongst Seattle communities. As a beacon of hope for many, the Pike Place Market Foundation is guided by the following values: collaboration, inclusion, respect, optimism and gratitude. Over the years they have helped many, granting more than $30 million since 1982.
For many at MoxiWorks, the Market holds a special place in their hearts. Jessie Trapp, Marketing Coordinator at MoxiWorks, is a perfect example. Growing up with a mom that works at the market on the craft line, Jessie took her first steps there and has many fond childhood memories there.
“It is important for MoxiWorks to have this partnership with the Pike Place Market Foundation because they do such a wonderful job connecting and bettering the community around us. Both MoxiWorks and the Pike Place Market Foundation’s vision is to better our community through our services. By supporting each other, we are working to fulfill those visions together and I think that is a beautiful thing and I am so excited and honored to get to be a part of,” said Zoey Lange, Office Manager at MoxiWorks.
MoxiWorks raises money through various company activities, including employees opting into having a portion of each paycheck go towards the Moxi Fund. As a yearly tradition since 2013, MoxiWorks employees also partner with the Pike Place Market Foundation to put up Moxi Giving Trees in our office to give local families what they need most during the holiday season. These Giving Trees help serve between 20 and 30 families every year.
Baur added, “Everyone knows the market as this amazing Seattle institution and tourism center, but what they don’t realize is that it’s also a hub for community service – from preschool to eldercare and everything in-between. We’re honored to be a small part of their big mission.”
To date, MoxiWorks has donated a total of $74,000 to the Pike Place Market Foundation and is looking forward to continuing this partnership in the years to come. Aside from donations, MoxiWorks is also passionate about volunteering their time, specifically at the Pike Market Food Bank.
About Pike Place Market Foundation
Established in 1982, the Pike Place Market Foundation has granted more than $30 Million to provide housing, healthcare, healthy food, childcare and a community of support to our most vulnerable neighbors. As community builders in the Market we partner with, as well as operate and sustain, a network of programs and services that support low-income residents, workers, families and neighbors of the Market. Find more information at pikeplacemarketfoundation.org.
About MoxiWorks
MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 72 brokerages and 120,000 agents nationwide that account for more than 13% of the transactions in the U.S. MoxiWorks’ integrated tools are centered on sphere methodology that increases agents’ repeat and referral business by 54%, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 50 partners that plug and play to create unique brokerage solutions. MoxiWorks also powers the LeadingRE Cloud. Find more information at moxiworks.com.
###
For more information on this topic and other press inquiries at MoxiWorks, please contact Tiana Baur at tiana@moxiworks.com.
20 Questions: A Man for Our Clients, A Man with Moxi
Get to know Daniel Bailey, Senior Account Manager at MoxiWorks!
By Bryn Yasui, Customer Support Specialist at MoxiWorks
At the MoxiWorks headquarters in Downtown Seattle, you can always catch Daniel Bailey on the phone with a client giving his all to help their agents with what we have to offer them. In his role, Daniel demonstrates outstanding communication skills to brokerage partners every single day. With our employees, like Daniel and his hardworking team of Account Managers, agents are able to utilize MoxiWorks’ products as smoothly and painless as possible through training, answering queries, and creating business relationships.
It goes without saying that every single individual here at MoxiWorks is unique in their own way. We decided to take a moment to dive deeper into Daniel’s charismatic nature, who he is, and how his personality correlates with his ambitious work ethic.
1. How long have you been at MoxiWorks?
6 Years this summer.
2. What do you do at MoxiWorks?
I am a Senior Account Manager!
3. What’s your favorite MoxiWorks product and why?
My favorite product in the entire suite is MoxiPresent! Simply, it helps agents win more listings. Present can do so much from Lead-gen to personal marketing. It’s a powerful tool agents can use to help themselves stand out from the crowd.
4. What’s your philosophy in life?
“If you are not first, you’re last!” I’m kidding, “Above all things, be sure to laugh.”
5. Where are you from originally?
Charlotte, North Carolina
6. What’s your favorite movie?
Pulp Fiction
7. What’s your favorite thing about MoxiWorks?
I would have to say the people I work with. They are some of the most intelligent and dedicated people I have ever had the pleasure of working with. We have built a great culture and it’s one of the reasons I love coming to work every day!
8. What’s the best part of your job?
Being able to help our brokerage partners solve some of their pain points by leveraging our products and services. I find the most fulfillment when agents tell me how much their business has improved or when they have the “aha!” moment and realize this stuff actually works!
9. What is your greatest accomplishment so far at MoxiWorks?
Helping one of our brokerages see a 316% increase in agent productivity! That doesn’t happen by accident. That happens through strong partnership, setting goals, & and executing to perfection.
10. Would you consider yourself an introvert or an extrovert?
I’m an extrovert. I like to live out loud and try to make everyone I meet smile or laugh.
11. What keeps you at this company?
The team I work with & clients I serve. Each day I’m challenged to think more strategically to help our clients solve their pain points. There’s never a dull moment.
12. What are your biggest pet peeves?
That’s tough because I have a few. The biggest I would say is when someone begins to tell you something then they say… “I’ll tell you later.” UGH!
13. What’s your favorite past time activity?
Spending time with children.
14. What was your first job ever?
My first job was flipping burgers at a local burger joint, “Herfy’s Hamburgers.”
15. What piqued your interest about MoxiWorks in the first place?
It was the job posting that drew me to want to work for MoxiWorks. The posting was so funny I laughed audibly while reading it. Then when I had my first phone interview, I was sold! The hiring manager and I must have talked and laughed for nearly an hour.
16. What is your favorite food?
Asian food! Hands down. I’m from the South, the home of good food, but give me some General Tso’s any day of the week!
17. What does your ideal day off look like?
Errands, errands, and more errands. I start off making my way to grocery store, then cooking a big breakfast for the family, then working on some project at my house or tinkering with one of my cars.
18. How would you describe your work ethic?
I work very hard. Often, I’m told too hard. My goal is to exceed my client’s expectations by giving more in value than I expect in payment. That value is my time, attention, & responsiveness. It is that client experience that keeps them with us year over year.
19. How do you think technology has developed a role in real estate within the past decade?
Over the last decade, technology has completely changed real estate. In years to come, technology will touch every part of a real estate transaction. One thing that will not change is the human element. Contrary to popular belief, real estate is still a people business, and people still need an agent to help them through the transaction experience. You bet your bottom dollar that MoxiWorks will be there to power the agent to do so!
20. What is your biggest challenge at the moment?
My biggest challenge at the moment is to decide what to get my 16-year-old for his birthday. Any suggestions?
Email Marketing Tips for Real Estate Agents
By Jessie Trapp, Marketing Coordinator
A whopping 54% of marketers name increasing engagement rates as their top email marketing priority, and for good reason. While email marketing has proven to be a powerful strategy for connecting to those within your sphere of influence, here’s the catch: it only works wonders if you manage to get your contacts to open your emails in the first place, a task that most find to be much easier said than done.
Here are five engagement-generating email marketing tips for real estate agents to consider when crafting campaigns:
Valuable.
Irrelevant emails are an easy ticket into your client’s spam folder or even worse – an unsubscribe list. In order for your emails to be effective, make them truly valuable to those on the receiving end. Include call-to-actions and provide intriguing content that will make your clients see merit in opening your mail on a consistent basis.
Quick & to the point.
People are busy and don’t have loads of time to spend reading through emails that resemble a lengthy novel. Make sure to limit your email content to just the information your clients need to know, while keeping the amount of “fluff” and filler content to a minimum.
Scannable.
Not only do you want to keep your emails as short as possible, but you also want to make them easy to read on the go. Formatting your email copy into lists, bullets, and changing the color of especially important information makes it more likely that readers will read through your content and absorb the information you need them to know the most.
Cadence.
Although finding your email marketing rhythm can take some trial and error, it’s often smart to set some sort of cadence to your emails.
Do you send out a real estate blog post every Monday? Or maybe a schedule of local events on the first of every month? Regardless of the exact rhythm, giving your clients something to expect on a regular basis can make them more likely to open these emails when they receive them.
Segment.
In order to stand out amongst the outrageous amount of emails your clients are likely receiving, put the effort into making your emails as personalized as possible, while remaining efficient. In order to achieve this, consider grouping your database based on individuals with similar interests, zip codes, or customer type so that you can tailor the content and subject lines of your emails towards a more targeted audience.
If you’re anything like us, you’re completely ecstatic about the new email campaigns features within MoxiEngage. Utilizing these five best practices will help set yourself up for success with the new functionality. Can’t wait to get started with email campaigns? No need to wait – get started now.
