Where Real Estate Gets Its Dirt

Less software?

Next week Lone Wolf Technologies will reveal its new platform at the T3 Technology Summit, and I’m super excited about it. Why? Let me tell you a story.

At W+R Studios we were bootstrapped, so we needed to grow organically. Our product strategy centered around making core features of an MLS system better.

CMAs on MLS systems suck? Let’s make a better one. Enter Cloud CMA.

MLS system’s client portals and listing alert emails are ugly. Let’s make them pretty (and easier to use). Voilà , Cloud Streams.

Searching on MLS systems too complicated? Let’s make something simple. Boom, Cloud MLX!

The problem was two fold. In order to grow we needed to add new products (more software) and at the end of the day is that we had 3 different software apps, each of them great in their own right, but they didn’t really work together. Also if you wanted all three you had to buy each one separately, and have 3 separate logins, and 3 separate onboarding scenarios, 3 different times you entered a credit card number, and 3 separate…you get the point.

We solved most of this by creating the “Cloud Agent Suite“, but really only scratched the surface of what was possible, then we were acquired in December 2020.

So this problem of “simplifying real estate” has been on the minds of our (W+R) design team for a very long time. How do we bring all of this together to create an end to end solution that makes sense, and still grow? Can “less software” be the answer?

Turns that the problem was about to get bigger. Starting in 2020 Lone Wolf acquired 5 companies in 9 months (including W+R); HomeSpotter, LionDesk, Terradatum and Propertybase. Now you had 9 (at least) separate logins, 9 separate… you get the point.

Sean Wheeler, CTO Lone Wolf
Sean Wheeler, CTO Lone Wolf

When I left Lone Wolf I was starting to see the green shoots of this work. Most of it on the backend led by Sean Wheeler, Lone Wolf’s CTO. One login, one credit card, one database of contacts for all products, etc. Jimmy Kelly, Lone Wolf’s CEO, talked about their effort and the concept of “less software” on a post on Inman News titled “Real Estate Doesn’t Need More Software“. I was also privy to see some of the earlier mock ups from the design group, which were super impressive.

Jimmy Kelly, CEO Lone Wolf
Jimmy Kelly, CEO Lone Wolf

But, like any good meal it all comes down to ingredients. Lone Wolf from my estimation has the best ingredients in the market. The products they acquired (and the teams behind them) are not only best of class but have high adoption rates and great partnerships. Now it comes down to presentation and taste. And I have full confidence in the design chops of the team behind this. I had a chance to interview, Damien Huze, who was W+R’s Chief Design Officer and now a principal designer at Lone Wolf on my Listing Bits podcast which should drop this week.

Damien Huze, Principal Designer Lone Wolf
Damien Huze, Principal Designer Lone Wolf

Am I biased? Absolutely. Am I still a fan of simple focused software applications? You betcha. But I’m a bigger fan of people. So I look forward to seeing how this particular group of talented people proves less software is better.

Burnett v. NAR: The Lawsuit That Could Upend the Housing Market

What if we told you that a high-stakes trial in the real estate and technology industry is about to unfold, with potential implications for consumers and the future of the housing market? Today, Rob and Greg are joined by Ed Zorn, Vice President and General Counsel at CRMLS, and they dive into the details of the ongoing Burnett v. NAR trial, exploring the various legal aspects and arguments that could lead to a major disruption for home sales.

Join us as we discuss the application of the “per se” standard, the challenges faced by the Burnett, and the pivotal role of the Multiple Listing Service (MLS) in this episode of our podcast. Don’t miss this heated discussion as Rob and Greg once again do their best to save the real estate industry.

Watch us on YouTube!

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

Notorious VIP

This podcast is produced by Two Brothers Creative 2023.

Inman News’ Andrea Brambila is “live on the scene” for the Sitzer | Burnett case

I don’t think they allow phones or recording devices in the courtroom for the Sitzer | Burnett lawsuit but Inman News has sent Andrea to cover the courtroom case and they have posted a website, for “live updates”. I don’t think anyone has as much understanding of the issues more than Andrea so I’m glad they sent her!

You can check the Live Updates site here.

Wall Street Clueless

A few choice quotes from this weekend’s WSJ article on “Realtors Face an Antitrust Reckoning”

“The Realtors require this offer if a seller wants the home listed on an affiliated multiple-listing service, which is a database of homes for sale that serves the same purpose as a stock exchange. While innovation and competition have slashed stockbroker commissions, the commission on home sales has stayed basically flat for decades at 6%, split evenly between the buyer and seller agents.”

The Editorial Board, Wall Street Journal

Buying a home is not like buying an airline ticket, movie ticket, toilet paper or a stock. It’s a decision that doesn’t happen often, emotional and can be the largest financial decision in their lives. For those reasons it makes sense for someone to hire a trusted advisor.

“The Realtors also claim their rules benefit consumers by giving them “access to the largest database of properties available” and reducing out-of-pocket costs. But commissions get baked into home prices. If not for the Realtors’ rule, many buyers wouldn’t use brokers or would negotiate lower commissions. Home prices would likely fall.”

The Editorial Board, Wall Street Journal

“Many buyers wouldn’t use brokers”? See above comment.

I could go on and on, but WTAF?

Listing Bits Episode 84: Enabling Collaboration in the Home Buying Experience – with Tom MacLeod of ZenList

In preparation for a move, Tom MacLeod and his wife were looking at properties in the Bay Area. Tom was on Redfin. His wife was on Zillow. And they were receiving listings via email from their agent.

But none of the applications talked to each other. So, Tom was making a spreadsheet when he thought, “There’s got to be a better way.”

Tom is Cofounder of Zenlist, an agent-to-client home search that enables efficient collaboration by putting everyone in the same space. 

On this episode of Listing Bits, Tom describes how @properties helped him develop Zenlist and what differentiates his app from Homespotter, RealScout and other competitors in the space.

Tom shares Zenlist’s initial growth strategy, explaining why it didn’t include targeting MLS customers and how that’s changed.

Listen in to understand how Tom’s team gets consumers to download an app and learn how Zenlist is facilitating collaboration in the homebuying experience.

What’s Discussed:  

How Tom’s experience with moving inspired him to build Zenlist

Why Tom made the decision to bootstrap Zenlist over taking venture money

How Zenlist facilitates collaboration in the homebuying experience

Tom’s experience of developing Zenlist with the help of @properties

Zenlist’s initial growth strategy and why it didn’t include targeting MLS customers

What differentiates Zenlist from Homespotter, RealScout and other competitors in the space

Tom’s ambition to serve both real estate agents and consumers

Zenlist’s mobile capabilities and how it was called into action during the Rapattoni outage

How Zenlist is overcoming the challenge of getting consumers to download an app 

How consumers benefit from using Zenlist vs. Zillow or Redfin

Connect with Tom MacLeod:

Zenlist

Email tom@zenlist.com 

Resources:

SNL Skit on Zillow

Leo Pareja at eXp

Trackxi

Our Sponsor:

Cloud CMA for Brokers

Industry Relations Podcast: What Has Really Changed In The MLS Industry?

On this episode of Industry Relations Rob and I discuss what has really changed in the MLS industry. One thing that has always been a constant in the MLS industry is change. With technology rapidly evolving and consumer demands continuously shifting, it’s no surprise that the MLS landscape is constantly adapting.

But what does this mean for those working in the industry? Are there new skills or knowledge that are now required to succeed?

Watch us on YouTube!

Resources:

Greg’s YouTube

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

Notorious VIP

This podcast is produced by Two Brothers Creative 2023.

Did Amazon just choose Lundy (not Zillow) to power the real estate voice search for Alexa?

I’m hearing YES! How cool is that!?

Previously you had to install Lundy’s real estate search as an “Alexa Skill”. From reports I’m getting markets where MLS organizations have partnerships with Lundy you can just ask Alexa straight up…

Alexa,

“Find me a house”
“Are there any homes for sale near me?”
“Help me buy a home.”

Current MLS partners for Lundy include:

Park City MLS, UT
Metrolist, CA
WARDEX, AZ
RMLS, CA
Valley MLS , AL
FMLS, FL
REcolorado, CO
Miami AOR, FL
Gulf Coast MLS, FL
Stellar MLS, FL
Greater Chattanooga, TN
Mid-Georgia MLS, FL

I wish this was set up in my market so I could test. (If your are in any of the markets above and have an Alexa device test it and tell me what you think.)

Amazon is doing some cool shit with AI and voice search, check out this video from their event last week.

I know Justin from Lundy will be at CMLS next week. I’m sure he will be happy to give demos.

Did Cincy MLS just axe Perchwell in favor of going back Rapattoni MLS?

Looks like last week the frustration of some Cincy MLS members hit the evening news (see video below).

1,000 Realtor-members signed a petition to return to Rapattoni services as a primary listing service among complaints aimed at Perchwell listing services

“In a statement, MLS of Greater Cincinnati President Anne Uchtman said they could never have anticipated a cyber attack leaving the region without any listing services.

“The Multiple Listing Service of Greater Cincinnati and its board of directors are committed to finding a solution that allows our users to do their job to the best of their ability and continue serving our consumers,” she said. “Our two MLS providers, Rapattoni and Perchwell, have been extremely helpful and supportive during this crisis. We are working non-stop to get this issue resolved and hope to have a solution in the coming days.”

Sean DeLancey of WCPO

Not a good situation for anyone. I haven’t had full confirmation but it appears that the members voted and want Rapattoni back. I’m not sure what this means for Perchwell, whether is will run in parallel or not. If anyone can confirm please say something in the comments.

Looking for a new gig?

Sr. Training Manager – FMLS

“This position oversees the operations of the FMLS School of Real Estate which is established in 4 states: GA, AL, TN, and SC. This role will identify, assess, and create tailored training programs while utilizing various adult learning methods to enhance members’ product utilization skills. The Training Manager will focus on orchestrating a transformative and innovative approach to Real Estate training and development while upholding the highest standards of excellence. Oversee a team of 5 team members.”

FMLS

To find out about this job and more please visit the Vendor Alley Job Board.

NORCAL MLS Alliance rallies and MetroList hires Industry Relations rep

NORCAL MLS Alliance Collaborates to Mitigate Impact of Recent Cyber Attack on Major MLS Software Provider

“In a collaborative display of support, the NORCAL MLS Alliance (www.norcalmlsalliance.com), comprising seven prominent MLSs in Northern California, rallied together to support one another in the wake of a recent cyber-attack that disrupted services provided by a leading MLS software provider.”

NORCAL MLS Alliance PR

MetroList® Welcomes John Hughes as Vice President of Industry Relations.

“John’s industry leadership extends beyond the brokerage realm. An active participant in local and state real estate industry associations, he is the current President of California Real Estate Brokers, Inc., MetroList’s largest shareholder. He brings over a decade of experience as a director and committee leader for the California Association of Realtors®. Locally, he has served the Placer County Association of Realtors® as President, mediator, and professional standards steward.”

MetroList

Welcome John!

Sponsored By MLS Reset