Where Real Estate Gets Its Dirt

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.

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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!

Space Coast Adds Relevate’s SSO and Communication Center

Space Coast Association of REALTORS® launches Relevate SSO and Communication Center

“Ensuring an organization’s entire value proposition is front-and-center with every member log in, Relevate’s SSO Dashboard highlights all the tools provided by the association or MLS along with key benefits such as education, events, affinity programs, governance, and more. It is a powerful companion to Relevate AMS and Relevate for MLS that handles identity management, collects actionable usage data to guide management decisions, and sends targeted communications to drive user engagement.”

Mike Price at Relevate

The AMS, SSO, member communication space is going to heat up fast. I’m hearing about multiple solutions out there. This is going to drive innovation and be great for MLS organizations and their members.

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