During the month of May, Realcomp hosted three (3) Broker Focus Group sessions with MLS subscribing broker owners and managers in order to obtain their feedback on Transaction Management. Specifically, attendees participating in the sessions were provided with an overview of Transaction Management Systems (TMS), the types of functions that are typically included, the benefits of TMS, the merits of MLS implementations, typical price ranges, and more.

To facilitate the sessions, Realcomp hired Mr. Joe Kazzoun of Clareity Consulting, a leading expert in the field of Transaction Management. Our goal in holding the sessions was to clearly determine the broker community’s current level of desire for Realcomp to offer a TMS.

In 2004, Realcomp hired the WAV Group, an independent consulting firm, to survey Realcomp’s broker owners and managers regarding their desires for Transaction Management. The WAV Group concluded there was strong interest from brokers in considering a Transaction Management System supplied by Realcomp II Ltd.

To ensure that Realcomp’s broker community was well-represented in the recent focus groups, brokers from large, medium and small sized brokerages were asked to participate. Between the three (3) focus group sessions, a representative group was achieved so that feedback would not be skewed toward one broker population or another (i.e. small brokers, medium brokers, or large brokers). Representation was also achieved from a geographical standpoint. Brokers and/or managers in attendance also represented both national franchisers and local independent brands.

Throughout the sessions, the majority of participants indicated they were strongly in favor of Realcomp’s implementation of a TMS. Only one (1) broker attending the sessions over the course of the two (2) days held an opinion to the contrary. All other brokers indicated support for the concept with the caveat that the pricing for the service be ‘reasonable’. Based on the results of these Broker Focus Groups, Clareity Consulting has recommended that Realcomp pursue providing Transaction Management to Realcomp subscribers.

In support of this, at their June Board Meeting, Realcomp’s Board of Governors CARRIED the following motion: to approve Realcomp proceeding with the following steps to provide a TMS to Realcomp Subscribers: 1) Complete the review of the Clareity RFP Analysis, 2) Schedule vendor product demonstrations for Realcomp brokers and agents to obtain their feedback on a preferred TMS product, 3) Enter into contract negotiations with the preferred vendor, and 4) Come back to the Realcomp Board of Governors for final approval on the purchase of a TMS product.

Over the last nine (9) months, in preparation for moving forward, Realcomp has researched many potential Transaction Management Systems and providers and has narrowed the choices down to two: one offered by First American Real Estate Solutions™ (Realcomp’s current public record data provider) and the other provided by Instanet Solutions™ (Realcomp’s current MLS forms provider). Based on this, Realcomp is planning to host a one (1) day event in August to showcase the capabilities of each system and gather feedback. Price ranges applicable to each solution will also be shared. Please watch for announcements confirming the details of these presentations and how you can participate. To learn more about Transaction Management, keep reading Realcomp’s communications.

As always, we want to know what you think.  I can be reached by email at email or by phone at 248.699.9120.

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