In an era when “disruptive innovation” has become a tired buzzword, REcolorado is quietly rewriting the playbook for Multiple Listing Services (MLS) with an approach that’s less Silicon Valley and more Main Street. The Colorado-based MLS has tapped into a resource that many tech giants often overlook: the collective wisdom of its users. This Jungian approach has given birth to REcolorado’s Collective Intelligence initiative and cleared a path for others in the industry to follow suit.
At its core, REcolorado’s Collective Intelligence initiative is a formal process for gathering, analyzing, and acting on feedback from diverse subscribers, including real estate agents, managing brokers, appraisers, and other industry professionals. Collective Intelligence creates a systematic, data-driven approach to understanding and responding to user needs in real time. By sourcing from various feedback points such as customer panels, surveys, user testing, focus groups, and data analytics, REcolorado has created a multi-faceted system to capture its users’ voices and translate them into tangible, actionable improvements.
The feedback process follows a structured, cyclical approach in which input is collected and acted upon effectively and efficiently. First, it begins with gathering feedback through multiple channels, including online surveys, in-person groups, user behavior analytics, and direct communication. This data is then meticulously analyzed in meetings where cross-functional teams work together to identify trends and patterns in user behavior and preferences.
Once the analysis is complete, REcolorado’s leadership develops strategies based on the insights gained in the aforementioned cross-functional team meetings. These strategies are evaluated for feasibility, potential impact, and alignment with overall MLS goals. Next is the implementation phase. The implementation phase sees changes to systems and services, often in multiple phases for major updates, to allow for user adaptation and further feedback. Finally, REcolorado reports to subscribers on the changes implemented and evaluates their effectiveness through post-implementation surveys and analytics.
Stacy Herbel, Director of Education and Development at REcolorado, emphasizes the proactive nature of this approach: “We aim to anticipate and address issues before they become problems, rather than simply reacting to complaints. This forward-thinking strategy allows us to stay ahead of market trends and user needs.”
The Collective Intelligence initiative has led to several key enhancements to services, updates to policies, and additions to REcolorado’s roadmap demonstrating the practical application of user feedback, including:
- Refined data collection for private and exclusive listings
- Mobile optimization with a responsive app tailored to on-the-go real estate professionals
- The addition of a Private Exclusive option for listings
- Enhanced search functions with natural language processing for more intuitive property searches
- Streamlined listing input processes with a redesigned interface and bulk editing features
- Improved handling of properties with accessory dwelling units (ADUs)
The changes are intended to directly address user-identified needs, showcasing how the initiative translates feedback into tangible improvements that benefit REcolorado’s subscribers in their day-to-day operations.
Collective Intelligence’s effectiveness is measured by specific metrics and evaluation methods. User satisfaction surveys, including Net Promoter Score (NPS) measurements, track overall satisfaction and subscriber loyalty over time. Engagement rates with new or updated features and efficiency metrics such as time saved in listing processes are monitored. Data quality indicators are used to ensure the accuracy and completeness of listing information. Future developments are determined by users’ adoption rates of new releases and/or features.
The success of Collective Intelligence has not gone unnoticed. A recent survey by the Loyalty Research Center indicated high satisfaction levels with REcolorado’s customer service team, suggesting that the initiative positively impacts user experience and support quality. This success has much larger implications for the industry because this model represents a major shift in how MLSs are approaching and can approach customer feedback and service improvement.
Deborah Shipley, Vice President of Marketing at REcolorado, notes, “This approach allows us to view issues from multiple perspectives, leading to more comprehensive solutions. It’s not just about fixing problems; it’s about innovating and evolving our services to meet the future needs of real estate professionals.”
With all the promise of an initiative like Customer Intelligence, it’s essential to consider its potential challenges and limitations. Balancing the needs of a wide range of users is demanding, and maintaining momentum over time requires continuous resources. Integrating new technologies based on feedback is challenging technologically, and collecting user data raises important privacy considerations that must be handled carefully.
Despite these challenges, the Collective Intelligence initiative offers a compelling case study of how MLSs can modernize their business model by systematically incorporating user feedback to improve their services and stay relevant in a world where consumers are provided customization. By formalizing the process of gathering and acting on subscriber input, REcolorado has created a more responsive, user-centric MLS that can adapt quickly to changing market conditions and technological advancements.
These initiatives will become increasingly important for MLSs looking to remain valuable to their subscribers. The long-term impact and potential for industry-wide adoption of this approach remain to be seen. Still, early results suggest that it has the potential to significantly enhance the relationship between MLSs and their users.
For MLS leaders and real estate professionals, this initiative underscores the importance of active engagement in shaping the tools and services that support their work. It also highlights the potential for collaborative, data-driven approaches to drive innovation in the MLS space. As the industry moves forward, the principles behind the Collective Intelligence initiative – proactive engagement, data-driven decision-making, and continuous improvement – are likely to play an increasingly important role in shaping the future of MLSs and the broader real estate technology landscape.
REcolorado’s Collective Intelligence initiative represents a forward-thinking approach to MLS management that has the potential to reshape industry standards for user engagement and service development. By putting the needs and insights of its users at the forefront of its development process, REcolorado is not only improving its own services but also setting a new benchmark for how MLSs can evolve and thrive in an increasingly competitive and technology-driven real estate market. REcolorado’s approach to sourcing user feedback to improve user engagement will be a light in the fog for other MLSs looking to offer a better customer experience.
