Last month, more than 150 MLS and association leaders joined us in Chicago to get a look at the future of ShowingTime at the 2022 ShowingTime Executive Forum. Now in its seventh year, the Executive Forum is our annual event where we join with our valued partners to offer a first look at what’s next for ShowingTime’s always evolving services. And, equally as important, the event gives us the perfect opportunity to gain valuable feedback on behalf ShowingTime users throughout the U.S. and Canada to enhance our services to reflect the rapidly changing market conditions.
We’ll be sharing a lot more detail on the enhancements and new features discussed at the event in the weeks to come. Until then, here’s a brief recap of a few of the key topics of conversation at this year’s Executive Forum.
Updates on the Next Generation ShowingTime Experience
Since it was first announced, the upcoming release of what we’re calling the next generation ShowingTime experience has gained a lot of industry attention, and for good reason. The update represents perhaps the most significant enhancement to our showing management platform we’ve ever made, not only revitalizing the user interface and enhancing existing features, but also introducing a host of useful new tools to make showing management easy.
This year’s Executive Forum marked a major milestone in the development of the next generation update, giving ShowingTime’s product development team the opportunity to share an exclusive live look at the update’s singular responsive design as previewed from both a desktop and mobile device.
The development of the forthcoming update, those in attendance learned, was directly informed by three key goals for the next generation of ShowingTime:
- It should be flexible and adaptable
- It should be simple and intuitive
- It should be modern, yet familiar
To that end, the next generation overview offered looks at how the update is meeting those goals. For example, attendees learned how this new update will continue ShowingTime’s long tradition of compatibility with industry-leading lockbox providers, including igloohome, Master Lock, Supra and SentriLock.
Development of the next generation ShowingTime experience is continuing to go smoothly, and Executive Forum attendees learned about the ample opportunities we’ll be offering to give users a chance to experience all the updates, including training options and the availability of our support staff.
For those anxious to get their hands on this exciting new experience, stay tuned: we’ll be revealing details about how you can be among the first to start leveraging the advantages of the next generation ShowingTime experience shortly!
A Look at What’s New with Offer Manager by ShowingTime
Offer Manager, fully integrated within ShowingTime’s popular scheduling platform, does for offer management what ShowingTime has long done for showing management: it simplifies and automates what can be a cumbersome process. Offer Manager removes ambiguity from agent-to-agent communication by greatly simplifying the process of submitting, receiving and organizing offers.
For more on Offer Manager by ShowingTime: 3 Game Changing Benefits of Offer Manager by ShowingTime | How Brokers are Using Offer Manager by ShowingTime to Navigate Today’s Busy Market | Now Available: 4 Tips for Mastering Offer Management
Since its launch, Offer Manager has received multiple new updates to incorporate feedback from the service’s growing number of users. In the last year alone, Offer Manager has added:
- Admin logins for both teams and offices
- MLS customization
- The option to automatically forward offers to sellers
- Buyer’s agent capabilities
Yet the recent updates are only a taste of what’s to come for Offer Manager. Executive Forum attendees were also able to learn about forthcoming updates for buyer’s agents, sellers and third-party integration opportunities.
Now used by boards, MLSs, office and individual agents around the country to greatly streamline offer management, Offer Manager has become as indispensable a tool as ShowingTime’s showing management services have long been.
Showing Report: What’s Change in the Last Year?
What a difference a year makes! Last year at this time, the market was in the midst of a historic combination of seemingly insatiable buyer demand and paucity of available inventory. At that time, showing activity reached a fever pitch; today, however, is a different story, as noted in our latest ShowingTime Showing Index.
To provide some context to the changes the market has seen over the last year, ShowingTime’s Director of Analytics Daniil Cherkasskiy gave Executive Forum attendees a breakdown of the latest showing data and offered his insight into what we’ve been seeing. His assessments:
- Since spring 2021, we’ve seen a substantial imbalance with respect to demand outpacing available supply
- Until 2022, demand and supply shrank concurrently, a combination that sustained the conditions for continued high competition for available listings
- Beginning in Q2 this year, supply began to increase while demand remained the same, resulting in less intense competition
For attendees, Cherkasskiy gave these three takeaways:
- Year over year, the slowdown we’ve seen has been steep, pointing to macroeconomic factors
- Although showing traffic on listings remains busier than in 2019, the slowdown and reversal we see in the market today is likely to happen more quickly, because buyer demand has been declining
- As the days on market increases, the number of properties for sale at each point will grow quickly, which could lead to an even faster downturn
For those interested in staying current on the market, Cherkasskiy reiterated the value of the ShowingTime Showing Index, which offers a monthly report on showing activity throughout the country, as well as ShowingTime’s daily showing activity tracker, which provides a look at activity for most states/provinces on a daily basis.
The first nine months of 2022 have been busy for us, but we’re just getting started. Make sure to bookmark the ShowingTime blog and follow us on social media for the latest updates on how we’re supporting real estate professionals to help them grow their business.
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