Where Real Estate Gets Its Dirt

Industry Relations Episode 69: Push Button Real Estate with Brian Boero

Does everything have to be so fast?  Shouldn’t some things take time?  

Especially if it’s the largest purchase/sale of your life?

On this episode of Industry Relations, Rob and Greg sit down with Brian Boero of 1000watt, to discuss his recent blog post, “Pushing Buttons”.  Join this high-level discussion about the future of “push button” real estate.
 
What‘s Discussed: 

The consumer experience with pushing buttons
Redfin’s 400 step process
The genius of Zillow’s “Super App” marketing messaging
Greg talks “Zuber”
Keeping up with the consumer
What does a “better” real estate experience look like?


Connect with Rob & Greg:
 
Rob’s Website 
Greg’s Website 

Resources: 

Brian’s “Pushing Buttons” blog post
1000watt’s website
Amazon’s Day One Philosophy

Our Sponsors: 

Cloud MLX
Notorious VIP

Industry Relations Episode 68: Privacy Concerns Around Real Estate Data

Who owns the data associated with a house?

As it stands right now, the listing broker is in control. But what if a buyer doesn’t want a floor plan or 3-D walkthrough of their new home available online? 

There is growing public concern around data privacy in big tech, yet few are talking about how this translates to the real estate industry.

On this episode of Industry Relations, Rob and Greg sit down to discuss the complexities around who owns real estate data, considering whether homeowners should have ownership rights to the data for their property.

They explain the current privacy laws around street photography and explore the expectation of privacy in public records—including MLS databases.

Listen in to understand how privacy policies might impact different players in the real estate space and learn how to think about who should own property data once the SOLD sign goes up.

What‘s Discussed: 

The ruling in the VHT v. Zillow case re: copyright in real estate photography

Who currently owns the data about a house and why it’s such a complex issue

Whether homeowners have ownership rights to the data for their property

The safety concerns associated with making property data available online (for buyers and sellers)

The current laws around photography and privacy

The expectation of privacy around public records and Rob’s take on why the MLS is not a private platform

How Apple’s App Tracking Transparency policy impacts real estate vendors

How privacy policies might affect Compass’ business plan

How we rely on open data to value homes 

How the privacy issues surrounding big tech might translate to real estate

Connect with Rob & Greg:

Rob’s Website

Greg’s Website

Resources: 

Orange County Proptech Mixer

Texas REALTORS Winter Meeting

CoreLogic MLS Executive Workshop

NARPM Broker/Owner Conference and Expo

Rob Hahn on The Tom Ferry Podcast Experience EP160

Nick Conteduca on Industry Relations EP067

VHT v. Zillow

Rob’s Piece on Real Estate Photography & Copyright

Apple’s App Tracking Transparency Policy

Fannie Mae’s Uniform Appraisal Dataset

Drone Laws in Nevada

NFT Your Property with Propy

Our Sponsors: 

Cloud MLX

Notorious VIP

Celeste Starchild gives the Red Pill to podcaster

Great interview. I love how expertly Celeste counters Mr. Mulrenin’s narrative, even when he asks the same question over and over again, but in the end, he genuinely seems enlightened.

Listing Bits Episode: Competing in the Showing Solutions Space – with William Schoeffler

When Zillow announced its intention to acquire ShowingTime in February of 2021, a slew of companies jumped into the showing solutions space. But Instashowing had already been in business for two years, and despite the fierce competition, its young founder believes that his startup has an edge.

William Schoeffler is the Founder of Instashowing, a software company out of Bend, Oregon, that offers the premiere showing solution for forward-thinking real estate professionals. On this episode of Listing Bits, William shares the experience with an agent that inspired him to build Instashowing and describes the suite of listing agent tools his team is developing.

William explains how he raised $4M on the heels of Zillow’s acquisition of ShowingTime, discussing the expectation to grow that comes with that kind of an investment and the advantages Instashowing has over its many competitors. Listen in to understand the challenge of supporting several showing solutions in a single market and learn how William is forming a syndicate to allow MLSs to invest in Instashowing.


What’s Discussed:  

The experience with a real estate agent that inspired William to build Instashowing

How William raised $4M from industry giants Pete Flint and Greg Schwartz

The wave of competitors in the showing solutions space after Zillow’s acquisition of ShowingTime

Why Instashowing started selling to agents and brokers (not MLSs) when it launched in 2019

The advantages Instashowing has over its competitors

How Instashowing’s success in a given market hinges on full integration with its MLS

Why William believes the industry will return to a single showing solution product in each market

The suite of listing agent tools Instashowing is developing

The expanding vision and expectation to grow that comes with a $4M investment 

Why William is not planning on adding a call center to the Instashowing offerings

How William is forming a syndicate to allow MLSs to invest in Instashowing


Connect with William:

Instashowing

William on LinkedIn


Resources:

Instashowing’s $4M Raise

Zillow’s Acquisition of ShowingTime

Tomo

Offerpad

BrokerBay

Homesnap Showings

MLS Aligned

SentriLock

CRMLS Glide


Our Sponsor:

Cloud CMA for Brokers

Industry Relations Episode 65: A Retrospective of the Most Important Events in Real Estate in 2021

What were the most important events in real estate in 2021? And how might those events change the industry moving into 2022?

On this episode of Industry Relations, Rob and Greg sit down to reflect on what they see as the most significant headlines of 2021, discussing the real reason behind Zillow’s abrupt exit from the iBuyer market and what Zillow 3.0 might look like.

Rob and Greg explore the significance of NAR’s apology for its racist past and policy changes around hate speech, describing how the ethics complaint against Pastor Brandon Huber reflects a growing division in the industry.

Listen in for insight on the impact of MLSs becoming technology companies and find out why it’s time for you to start learning about the blockchain and what this trend toward decentralization means for the future of real estate.

What‘s Discussed: 

Rob & Greg’s take on the most important events in real estate in 2021

The DOJ’s withdrawal from its settlement with NAR and Biden’s subsequent Executive Order on competition

How Zillow’s acquisition of ShowingTime changed the way vendors, MLSs and associations do business

The real reason behind Zillow’s exit from the iBuyer market and what Zillow 3.0 might look like

Rob’s prediction that Rich Barton will retire again in 2022 and why Greg thinks he’s wrong

The significance of NAR’s policy changes re: the transparency of listing data

Why NAR’s apology for its racist past matters and how it might serve as the first step toward reparations

The ethics complaint against Pastor Brandon Huber and how it reflects the growing division in organized real estate

How Greg thinks about MLSs becoming technology companies and what it means for vendors 

Rob’s insight on how blockchain technology might impact real estate

Connect with Rob & Greg:

Rob’s Website

Greg’s Website

Resources: 

Biden’s Executive Order on Promoting Competition in the American Economy

The DOJ’s Antitrust Case Against NAR

The DOJ’s Withdrawal from Its Settlement with NAR

Business Insider Article on Zillow’s Project Ketchup

Rob’s Post on Zillow’s Project Ketchup

Ben Thompson on Zillow’s Decision to Exit the iBuyer Market

Rich Barton on the Stratechery Podcast

NAR Policy Changes on Transparency of Listing Data

Bloomberg Article on the NAR Formal Apology for Past Racism

Changes to the NAR Speech Code

Pastor Brandon Huber’s Lawsuit Against the Missoula Organization of REALTORS

The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammous

The Bitcoin Standard Podcast

Saifedean Ammous on YouTube

Industry Relations Episode 64: A New Approach to Antitrust Regulations—with Michael Wurzer

The DOJ pulling out of its antitrust settlement with NAR seems like bad news for the industry.

But what if it could be an opportunity?

Michael Wurzer is the CEO of FBS, the leading innovator of MLS technology. Prior to FBS, Michael spent seven years practicing law in California and Minnesota, working in corporate law, litigation, and serving as Assistant General Counsel for Aveda.

On this episode of Industry Relations, Michael shares his unique perspective on the DOJ withdrawal, discussing the Biden administration’s intent to refocus on antitrust principles and the need for smaller, independent businesses to ensure competition in any sector.

Michael explains how organized real estate might engage with regulators, describing how MLSs could serve as labs of experimentation to promote transparency and competition in the industry.

Listen in to understand the challenge of overcoming what Rob calls the regulatory mindset and find out how real estate can take an offensive posture with the FTC, working together to innovate around Brandeis and Patman’s antitrust ideals.

What’s Discussed:  

The intent of the Biden administration to refocus on antitrust principles

Why industries need smaller, independent businesses to ensure competition

How the competitive nature of the MLS benefits NAR in negotiating with the DOJ

Why Michael sees an opportunity for the industry to engage with regulators

How MLSs might serve as labs of experimentation to promote transparency and competition

The concerns around Ben Harris’ advocacy for delinking of commissions 

How a willingness to experiment would be a good defense for government intervention

Rob’s concern that the regulatory mindset won’t allow for such a nuanced approach

Why Michael doesn’t see NAR or large MLSs as Goliaths to be broken up

Connect with Michael:

FBS

Michael on Twitter

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Resources:

FBS Summit

Justice Department Withdraws from Settlement with the National Association of Realtors

Goliath: The 100-Year War Between Monopoly Power and Democracy by Matt Stoller

Chicago School of Economics

‘Amazon’s Antitrust Paradox’ by Lina M. Khan

Robinson-Patman Act

Biden’s Executive Order on Promoting Competition in the American Economy

REX on Industry Relations EP055

‘Anticompetition in Buying and Selling Homes’ by Roger P. Alford and Benjamin H. Harris

Rob’s Post on Ben Harris

Michael’s Presentation on the Expanding MLS

British Columbia’s Shadow Flipping Controversy

Our Sponsors: 

Cloud Agent Suite

Notorious VIP

Listing Bits Episode 69: Educating Consumers on the MLS – with Katie Smithson

Ask the average consumer what they know about the MLS, and you’re likely to hear about their favorite Major League Soccer team. But CMLS wants to change that, and the organization is on a mission to educate the general public around the benefits of working with a real estate professional and listing a home on the MLS.

Katie Smithson is the Director of Enterprise Sales at Lone Wolf Technologies, and she serves on the Board of Directors for both the Council of Multiple Listing Services and Real Estate Standards Organization. On this episode of Listing Bits, Katie shares CMLS’s new In the Know Campaign, describing how the initiative seeks to convey the importance of the MLS to consumers.

Katie explains why CMLS partnered with 1000watt to develop assets for In the Know and how agents and brokers can use the campaign’s digital content to share the CMLS message with consumers. Listen in to understand how Lone Wolf is integrating In the Know content into Cloud CMA and find out how other vendors can get involved in educating consumers on the value of the MLS.

What’s Discussed:  

How CMLS’s Making the Market Work Campaign communicated the value of the MLS to its members

CMLS’s partnership with 1000watt to develop assets for the new In the Know Campaign

How the In the Know Campaign conveys the importance of the MLS to consumers

Why In the Know is not specific to a particular MLS system but advocates for the industry as a whole

CMLS’s hope that brokers and agents will share the campaign’s message with consumers

Why exclusive listings are not a good look for organized real estate in light of Fair Housing legislation

How listing on the MLS gives sellers the best exposure in a given market

How In the Know assets are designed for brokers, agents and vendors to put to use 

How the Lone Wolf Technologies team is integrating In the Know content into Cloud CMA Live

Katie’s insight around how other vendors might get involved with the In the Know Campaign

Connect with Katie:

Email ksmithson [at] lwolf [dot] com

Resources:

Lone Wolf and CMLS partner to empower real estate agents and brokers

CMLS’s In the Know Campaign

CMLS

RESO

CMLS’s Making the Market Work Campaign

1000watt

NAR MLS Clear Cooperation Policy

The Fair Housing Act

Our Sponsor:

Cloud CMA for Brokers

Yours truly on the IRES Matters Podcast

I got a chance to sit down with Annie McLaughlin from IRES, for their IRES Matters Podcast.

You can listen to the podcast on your favorite player or on this site.

Listing Bits Episode 68: A New Player in Showing Services – with Scott Fisher and Devin Beck

Prior to 2003, Supra had a monopoly on the lockbox market. But NAR membership wanted choice, so the trade association invested in its first outside tech company, SentriLock. Today, a similar market dominance exists in showing service solutions, and SentriLock is stepping in once again to compete with the dominant player in the space.

Scott Fisher and Devin Beck are the CEO and Director of Revenue of SentriLock, the first and only combined lockbox, showing service and experience management solution for real estate. On this episode of Listing Bits, Scott and Devin explain why SentriLock is expanding into the showing service space and how proptech consolidation accelerated industry interest their new offering.

Scott and Devin share SentriLock’s approach to entering a new market with a dominant player, describing how their partnership with NAR and commitment to customer service differentiate them from the competition. Listen in for insight around the unique features of the SentriKey Showing Service and learn how you can benefit from their lockbox offering, showing service or combination thereof.

What’s Discussed:  

How Scott’s telecom background led him to the lockbox space

Devin’s efforts to diversify SentriLock’s portfolio of offerings

What inspired the partnership between NAR and Scott’s team

Why SentriLock is expanding into the showing service space

SentriLock’s approach to entering a market with a dominant player

How Zillow’s acquisition of ShowingTime accelerated interest in SentriLock’s new offering

How SentriLock’s lockbox and showing solutions are designed to stand alone yet work together

Why consolidation causes uncertainty in the MLS community

Why NAR is unlikely to sell SentriLock

How Scott sees their commitment to take care of the member first as SentriLock’s secret weapon

The features that differentiate SentriLock’s showing solution 

How competition among vendors brings value to the industry

Connect with Scott & Devin:

SentriLock

Scott on LinkedIn

Devin on LinkedIn

Resources:

The Story Behind SentriKey Showing Service

Supra

CoStar’s Acquisition of Homes.com

REALTORS Relief Foundation

REALTORS Political Action Committee

Our Sponsor:

Cloud CMA for Brokers

My interview with Jimmy Kelly, CEO of Lone Wolf

The first 4 months at Lone Wolf have been an awesome learning experience for me. Lone Wolf and W+R Studios have always had mutual customers, and I was always aware of the forms and transaction management business but now I’m getting a full immersion course. What I’m learning the most is this, at scale, it’s a tough business. I know that competition is starting to rise in this space, I would only say to them, be careful what you wish for.

With that in mind, I sat down to talk with Lone Wolf’s CEO, Jimmy Kelly. I was surprised but not surprised that he agreed to do this interview with me. I don’t think we made any edits or cut anything out, it’s about 30 mins long and worth the watch. Jimmy answered all my questions, even the tough ones (check out the timeline), and I still have a job!

Hope you enjoy and see how running a form business during the beginning of a worldwide pandemic is a little like Lucy and Ethel working at the chocolate factory.

Timeline:

:40 – Introduction to Jimmy, and history in software industry

4:20 – Greg and Jimmy discuss forms changes and frequency of requests

5:15 – Looking back on pandemic, COVID requests, and response from Lone Wolf

9:30 – Greg asks about product outages, instability. Jimmy discusses what’s going on at Lone Wolf.

12:00 – Greg: What do you say to customers who’ve heard that before?

16:05 – Jimmy discusses future of Back Office. 

17:45 – Greg: Are Transactions (zipForm Edition) and Transactions (TransactionDesk Edition) eventually going to merge? 

20:00 – Greg: What do you say to customers who want you to focus on current issues rather than innovating/buying companies? 

23:45 – Jimmy previews what he’s most excited about coming soon from Lone Wolf

29:00 – Greg: What can you share about Stone Point Capital acquiring CoreLogic? 

31:30 – Is Greg a thorn in Jimmy’s side?

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