Sixty-one percent of real estate professionals closed at least one transaction in the first six months of this year, according to a WAV Group study surveying the productivity of members of 150 MLSs around the country. However, the study showed an uneven spread of the business between January and June:
- Zero transactions: 39 percent of pros
- One to 10 transactions: 50 percent
- Eleven to 20 transactions: 7 percent
- Twenty-one to 50 transactions: 3 percent
- Fifty-one or more transactions: 1 percent
- Zero listings: 43 percent of pros
- One to 10 listings: 47 percent
- Eleven to 20 listings: 6 percent
- Twenty-one to 50 listings: 3 percent
- Fifty-one or more listings: 1 percent
She told Inman News that she was "a little pleasantly surprised" by the results, having expected to find that the productivity of practitioners would fall along the 80/20 rule. "It's a different mix than we thought we might see," she added.
The study also found that only 58 percent of MLS members login daily, suggesting that a large chunk hold onto their subscriptions just for the data. What this means for MLSs, the study notes, is that they shouldn't calculate adoption rates of their new technologies based on 100 percent of their subscriber base.
"Bottom line, MLSs that are calculating adoption based on 100 percent of their subscriber base are calculating adoption incorrectly. There's no reason why a member that is not logging into the MLS system is going to use the additional services offered by their MLS," the study says. "MLSs that calculate adoption based on all of their members are actually understating the success they've had in attracting productive agents to their suite of technology tools."
Source: 2014 WAV Group REALTOR® Productivity Survey and "Study Shows Wide Variation in Agent Productivity," Inman News (Nov. 15, 2014)