Where Real Estate Gets Its Dirt

Industry Relations Episode 37: Inman Connect Las Vegas Pre-Show – RealScout, Opendoor, Redfin and Coming Soon Listings

Fight! Fight! Fight!

We’ve always been told that people love it when Rob and Greg argue.  If that true, then we have one of the best Industry Relations Show ever!

With Inman Connect Las Vegas on the horizon, Rob and Greg are facing off over the trend toward exclusive listings and the new Redfin-Opendoor partnership. What does the development of in-house listing programs mean for the industry? And how will the joint venture with Opendoor impact RedfinNow? Our intrepid hosts have very different answers to these questions.

On this episode of Industry Relations, Rob and Greg are discussing the impact of systematic coming soon listings. Rob makes the argument that widespread adoption will take down the MLS, moving residential real estate to the commercial model. Greg makes the case that pocket listings are nothing new and challenges the idea that the MLS will become a ‘dumping ground’ for properties that haven’t sold privately.

Rob and Greg also weigh in on the new partnership between Redfin and Opendoor. Listen in for Greg’s insight around why the collaboration is a genius move that benefits both parties and learn why Rob sees it as a huge concession on Redfin’s part—a concession that will eliminate their own iBuyer operations in each and every Opendoor market.

What’s Discussed: 

What Rob & Greg are looking forward to most at Inman Connect

Greg’s criticism of Rob’s recent posts on RealScout’s Buyer Graph

Rob’s argument that coming soon programs will take down the MLS

Greg’s counter that exclusive listings are not a new phenomenon

How residential real estate may be moving to a commercial model

Greg’s take on the brilliance of the Redfin & Opendoor partnership

How the new partnership with Opendoor will impact RedfinNow

Rob’s view of the partnership as a concession on the part of Redfin

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Resources:

Inman Connect

Notorious R.O.B. Blog

RealScout Buyer Graph

HAR YPN

Howard Hanna Find It First

Top Agent Network

Redfin & Opendoor Partnership

RedfinNow

Offerpad

Our Sponsors:

Boost Summit

Notorious V.I.P.

Florida MLS provider kicks Homesnap to the curb

Florida’s Space Coast listing service ditches its Homesnap site

“In an Oct. 2 announcement and email to members, Space Coast MLS said the Homesnap-powered public search on its new association website “wasn’t the right fit for our needs” and had been replaced by a search tool from Financial Business Systems’ (FBS) Flexmls, a previous vendor, while Space Coast MLS works on a permanent solution.”

Looks like Space Coast was iframing Homesnap as their public facing site, which according to Steve Barnes..

““This is really kind of a fringe case related to Homesnap,” Barnes said in a phone interview, adding that none of the other MLSs that iframe Homesnap’s site have chosen to turn it off.

“What it might say is a very local MLS needs unique flavor and a more seamless [tool]. Iframe might not be the best solution for them, but it’s not something that’s actually core to the Homesnap brand,” he added.”

But here’s the rub. According to the article whether you iframe or not you still can’t filter on pools? WTF?

Also, something else. Did you know that you can’t get listing alerts via Homesnap? That’s right you have to login on to the site run a saved search manually (like a caveman) and then find out if properties match your criteria. Unless of course if you just wanted a home with a pool because there is no way to do that currently.

Think about it, it’s 2018 and Homesnap can’t

1. Search for homes with pools
2. Create and send listing alerts (which is ironic because this.)

2 things, I’m sure 99% of IDX vendors have been able to do, for the last 19 years.

Who the fuck cares about “fair display guidelines” if you can’t search for homes with a pool or get listing alerts?

And this is supposed to be “the real estate’s industry answer to third party sites like Zillow and realtor.com”.

I bet they are laughing their asses off in Seattle and Silicon Valley.

But hey, “downloads”, right?

See you tomorrow at Inman Connect SF


Dan and I will be attending Inman Connect SF starting tomorrow, until Friday. I will be on stage at 4:40PM Tuesday on the “New Kids On The Block” panel (don’t ask) making a special announcement about Cloud CMA. We are super pumped about this announcement and think its one of the most innovative things we’ve done….ever. So stay tuned, and see you is SF!

Point Counterpoint on “MLS of Choice”

“MLS of Choice” is really a poor choice of wording. I think someone at Inman News coined the phrase. It gives the wrong impression of what 7.42 and 7.43 are really all about. But lucky for us we have Tom and Stan! Tom Berge Jr., NAR’s current chairman of the Multiple Listing Issues and Polices Committee, did a great job outlining their recommendations in a video which served as a supplement to an F.A.Q. page.

As a counterpoint Stan Harke, CEO of Western Regional Information Systems & Technology, Inc., also created a video outlining their concerns over “unintended consequences” of the policy change. He makes a few good points (His “pocket listing” scenario is quite clever) if you can make it through the cheesy music.

Then there are some who believe this might be a giant conspiracy! Just don’t shoot the messenger.

Inman says “Blow Up Upstream”

The Inman Files: Blow up Upstream – Why we should pull the plug on this expensive and risky effort

“But I still think it’s time to pull the plug on this project. I do not want to trivialize the well-intended efforts and opinions of so many hard-working people, but it reminds me of Trump’s Wall — grandiose, impractical and inspired by fear. Yes, there is a problem, but Upstream is a wrong-headed solution and a political hairball to build and gain adoption.”

Tell us what you really think Brad!

Plus some advice for new NAR CEO Bob Goldberg

“This is new NAR CEO Bob Goldberg’s opportunity to walk the talk and end a glaring example of old top-down pyramid thinking. Upstream is a classic NAR inside job, intended to benefit a small group of its overall membership.

As in most succession plans, Goldberg has about six months to blame it on the “dead pilot” (former NAR CEO Dale Stinton). Then he must “OWN IT” — good or bad. RPR is Stinton’s love child, not yours, Bob.”

In my interview with Bob Goldberg he told me that all of NAR programs were on the table for review.

Inman Innovator Award finalists announced

Inman Innovator Awards

“They are the visionaries, the forward-thinking, the stubborn, the obsessed, the tech-savvy, the creative minds always pushing boundaries. They are entrepreneurs pushing the old ways aside, data scientists discovering new ways to examine behavior, marketers inventing new ways to showcase properties, agents developing new ways to reach clients, companies building new technologies, brokerages creating whole new ways of doing business. They are the Inman Innovator Finalists, and they’re leading us into the future of real estate.

Lots of great names and products. I’m really proud that W+R Studios’ latest product Cloud Attract, made the list. It’s really one of the best software applications we’ve ever launched and the response from our customers has been fantastic.

Kevin Greene talks Trestle

A couple things to announce. Inman News will be the exclusive distributor of my podcast, Listing Bits. I’m super excited about this and my thanks to Brad for helping it find a wider audience.

Here’s my latest, an interview with Kevin Greene about how he started in the industry and about CoreLogic’s new initiative, “Trestle”.

Listing Bits: CoreLogic’s Kevin Greene talks Trestle upgrade

You will still be able to listen to Listing Bits on your favorite podcast app, but it most likely will be posted on Inman News first.

Inman News to ban “unsanctioned parties”

I guess you gotta fight, for your right, to party.

In an email titled “An update on our event policy…” a representative from Inman News laid down some stringent policy changes regarding its event policy in relation to “unsanctioned parties”.

“In a few short months, nearly 4,000 industry professionals will gather in sunny San Francisco for Inman Connect. Each year, companies host dozens of parties and events that surround the conference, taking advantage of having the best of the industry in one place.

We’ve introduced a special sponsorship level for companies who host satellite events at Connect for 30+ people that provides additional visibility to attendees and influencers they hope to connect with, while ensuring that the Connect attendee experience isn’t compromised.

Due to the negative impact that unsanctioned parties have on the conference, we have implemented a more stringent event policy for companies who choose to host events at and around Inman Connect without directly participating in the conference as a sponsor. The policy will be strictly enforced and violations will result in revocation of attendee badges, speaker spots and other sanctions at the sole discretion of Inman.

Emphasis mine.

I would argue that instead of being a “negative impact” or having the event being “compromised” the amount of industry parties being held around the conference is a huge draw.

No doubt Brad and his team have done a great job in putting together a great show, but threats of revoking badges and speaker slots is pretty draconian by any standard. How is having a party any different than having a meeting in the lobby with someone? What’s next? Do they shut down the lobby bar or Starbucks in order to get more people in to the sessions?

I sincerely hope Inman News reconsiders this policy before Inman Connect in San Francisco.

MLS executives make Inman News’ list of “Real Estate Influencers of 2017”

Inman News yesterday put out a list of the “Real Estate Influencers of 2017“. Here’s what they said about the people on this list…

“The Inman Influencer List salutes industry professionals who shape, change and influence the industry. They bring a mix of credentials, viewpoints and backgrounds from all walks of the real estate business. Some are creative, intuitive and gifted. Some have power, reach and charisma. And some are controversial, rabble-rousers and disrupters.”

The list appears to be close to 150 people. Over 50 of them women. Here’s a list of MLS notables on the list

Bob Hale
Art Carter
David Charron
Jim Harrison
Rebecca Jensen

Rob Hahn, Victor Lund, and Kevin Hawkins represent some of the consultants on the list.

Chris Bennet, Jeremy Crawford, and Pace Davis were also included.

Zillow Group appeared to have the most people represented with about 11 people, including Errol Samuelson, and Jay Thompson.

Also there was this guy.

Congrats to everyone!

See you at ICSF 2016!

Looking forward to catching up with everyone at Inman Connect is San Francisco this week.

Keep in mind Boston Logic is doing a great series of presentations at ICSF next week in what they are calling the “MarTech Salon” in the Franciscan Ballroom.

On Wednesday Tuesday at 11am I’ll be speaking with David Friedman, CEO of Boston Logic, on “Building an RE Tech Company”

You can see Tuesday’s full schedule here: http://sched.co/7qr9

You can see Wednesday’s full schedule at: http://sched.co/7ktS

Thursday’s schedule is also pretty strong.

At 8:30am Alex Lange, newly appointed CEO of Upstream will tell us “The Truth about Upstream”

At 2:15pm Errol, Curt will answer “What does the future look like for the MLS?”

You can see Thursday’s full schedule at : http://sched.co/7mta

Screen Shot 2016-08-01 at 11.53.57 AMThe Innovator Bash is also Thursday night where Cloud MLX along with many others are nominated for 2016 Most Innovative Technology. Dan and I have been nominated so many times we are beginning to feel like Susan Lucci. : )

See you there!

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