In February, the Realcomp Board of Governors came together to develop a strategic plan for Realcomp. The meeting was facilitated by Ann Hale Bailey, President of Pranix, Inc.

Ms. Bailey is a very well respected expert in the real estate industry. She has over fifteen years of consulting for leading brokerage firms, information systems companies, real estate associations and MLSs covering technology, strategic planning, and business development opportunities. She provided the Board with a very thorough overview of recent changes in the real estate industry which was information critical in establishing a two year plan for Realcomp. Over the next few months, I want to share some of the challenges, guidelines and goals that Realcomp will be looking at over the next one to two years. This month, we will start with the Challenges.

Challenges facing Realcomp II Ltd.

• Staying current with technology.
• Helping the public to understand the value of the REALTOR®.
• Potential decrease in business standards as business decreases.
• Making Realcomp relevant and attractive to potential Shareholders and Subscribers.
• Determining the services to provide to Subscribers.
• Determining what services the MLS should offer vs. services the brokers should offer; exercise care to ensure we do not compete with our customers;
• Maintaining the value of the MLS content and protecting it;
  o Exercising appropriate control over the distribution and use of the MLS content.
• Communications and Education with Subscribers and Shareholders.
• Improve Subscriber communications and build loyalty;
• Educating Subscribers about the services that Realcomp provides;
• Maintaining strong communications with the Shareholders;
• Meeting the competing demands of the Subscribers and adapting to the changing demographics.

This is just some of the challenges that the Board discussed during this important session. Upon completion of the “Strategic Action Guidelines” document, members of the Realcomp Staff met to put together a Business Plan to address the challenges listed above. Next month, I will share some of the “Guidelines” that are a part of the Strategic Plan and more of the Business Plan that will address these as well.

Please let me know what you think! I can be reached by email at  email or by phone at 248.699.9120.

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