Podcast Archives - Page 16 of 23

Industry Relations Episode 41: Implementing Ocho, MLS Vendors & the #MLSBHAG Challenge

February 27th, 2020

At present, MLSs are run like nonprofits. And without a way to raise capital, industry executives limit their vision based on the resources at hand. But what if there were no constraints? What kind of Big Hairy Audacious Goals could MLSs pursue with funding from deep-pocketed venture investors?

In this episode of Industry Relations, Rob and Greg are challenging MLS execs to consider what they would do differently with access to significant capital. Greg weighs in on the discussions around implementing the MLS Statement 8.0 Clear Cooperation Policy (otherwise known as Ocho) that took place at Inman Connect, describing how the differences among individual MLSs will inform its implementation.

Greg and Rob go on to discuss how the challenges associated with switching MLS vendors benefit incumbents and why most MLSs adopt a system of choice approach to consolidation. Listen in for Rob’s take on how MLS execs constrain their vision based on the resources available and take up Greg’s challenge to think about what you would do differently with $5M, $50M or even $500M.

What’s Discussed:

The discussion regarding how to implement the Clear Cooperation Policy at Inman Connect

How Ocho impacts Compass’ strategy for differentiating its listings

How the differences among MLS Coming Soon policies will inform Ocho’s implementation

The possibilities for interpretation around what qualifies as marketing

How the challenges associated with switching vendors benefit incumbent MLSs

What’s behind the system of choice approach adopted by most MLSs

Why Rob contends that MLS execs constrain their vision based on resources

NAR as a trade organization vs. the MLS as a tech product + service provider

Greg’s challenge for MLS execs to consider what they would do with access to capital

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Resources:

Inman Connect

MLS Statement 8.0 Clear Cooperation Policy

Homesnap Pro’s Predictive Analytics

Rob’s Post on the Clear Cooperation Policy

Rob’s Post on the Fundamental Problems in Real Estate

Business Insider Top 15 Real Estate Podcasts

Our Sponsors:

Cloud MLX

Notorious VIP

Listing Bits Episode 55: Getting People in Homes with Down Payment Assistance – with Rob Chrane

February 14th, 2020

According to research conducted by Freddie Mac, there are 83 million mortgage-ready renters in the US! But most grossly overestimate how much they need for a down payment and very few know about the low down payment programs available to low and moderate-income home buyers. How much could a real estate business grow simply by making down payment assistance part of its business development strategy?

Rob Chrane is the CEO of Down Payment Resource, a platform that aggregates down payment assistance program data and connects homebuyers with down payment assistance. Rob has more than 30 years of experience as a top-producing Realtor and mortgage broker, and he has been recognized as a HousingWire Vanguard for his leadership in the housing economy.

One thing I love that Rob does is the “Beverly Faull Affordable Housing Leadership Award”. This year it went to Tonya Todd.

“The award, named in memory of accomplished real estate veteran Beverly Faull, recognizes an individual who has demonstrated leadership in providing more access to homeownership and affordable housing finance solutions. Faull was a well-respected veteran in the MLS and housing industry and one of Down Payment Resource’s first employees.”

I used to work with Bev and I know many of you knew her as well, and I think this is such a great tribute.

On this episode of Listing Bits, Rob discusses who down payment assistance is designed to help and why some agents and lenders are reluctant to incorporate these programs into their workflow. We also discuss the evolution of Proptech as well as the pros and cons of the fractional ownership model. Listen in for insight around how Down Payment Resource shares its data with MLSs, lending companies, and individual agents and LOs—and learn about the massive opportunity available to real estate players with access to down payment assistance tools.

What’s Discussed:

How Rob connects homebuyers with down payment assistance

What inspired Rob to create Down Payment Resource

Who down payment assistance programs are designed to help

Why agents and lenders are reluctant to use these programs

How Down Payment Resource gets its data to industry players

MLSs and Associations
Enterprise solutions for lenders
Down Payment Connect (individual agents, LOs)

How Down Payment Resource makes money via a subscription model

How Rob thinks about the Proptech fractional ownership model

How DPR’s data shows up for MLS clients vs. individual agents

Resources:

Urban Land Institute

Freddie Mac Housing & Economic Research

Connect with Rob:

Down Payment Resource

Down Payment Connect

Gary Keller on The Tim Ferriss Show

December 16th, 2019

Gary Keller — How to Focus on the One Important Thing (#401)

“Gary Keller (@garykeller) is the co-founder, chairman, and CEO of Keller Williams (KW), the world’s largest real estate franchise by agent count. In 2019, KW, which also ranks number one in units and sales volume in the US, was named by Fast Company as the “most innovative company” in real estate.”
The Tim Ferriss Show

Speaking of podcasts, I was surprised to find Gary Keller, CEO of Keller Williams, as a guest on one of my favorite podcasts, The Tim Ferriss Show. Worlds are colliding!

I’ve read the Millionaire Real Estate Agent back in the day, but haven’t read “The One Thing” he co-wrote with Jay Papasan. In that book, he posits a simple life hack, by asking yourself a question…

“What’s the ONE Thing you can do such that by doing it everything else will be easier or unnecessary?”

With the new year (decade!) fast approaching, I find myself thinking of ways of simplifying things so this is very timely.

Listing Bits Episode 54: Opportunities for Agents to Partner with Opendoor – with Shannon Fitzpatrick & Tyler Hixson

November 20th, 2019

Many agents might view Opendoor as a competitor, yet another tech platform out to eliminate their jobs. But what if you could leverage the iBuyer as a partner to build your real estate business?

Shannon Fitzpatrick leads a team of 45 agents at Movoto Real Estate in Las Vegas and Henderson, Nevada, and Tyler Hixson serves as the Director of Real Estate Partnerships and Strategy at Opendoor. In this episode of Listing Bits, Tyler and Shannon explain how agents can leverage Opendoor as a tool to grow their business, bringing cash offers to prospects and tying multiple transactions together.

Shannon speaks to the value of going into a listing presentation with an Opendoor offer, describing how it allows him to do what’s best for the seller, and Tyler discusses why agents can get a stronger offer from the platform by articulating the property’s unique features. Listen in for insight into the misconceptions agents have about Opendoor and learn how to work WITH the iBuyer to serve your clients and generate more leads.

What’s Discussed:

How Shannon uses Opendoor to bring a cash offer to prospects

Leveraging Opendoor to tie multiple transactions together

The value of going into a listing presentation with an Opendoor offer

Opendoor’s offer valuation process and associated service fees

How Opendoor passes its vendor discounts on to sellers

How Opendoor can serve as a powerful lead gen tool for agents

Why agents can get a stronger offer from Opendoor than sellers

How Opendoor works directly with agents through closing

How Shannon uses Opendoor as a recruiting tool at his brokerage

The advantage to sellers of working with an agent AND Opendoor

The misconceptions agents have about the Opendoor platform
-Quality of offer + fees
-Think it’s out to eliminate agents

Opendoor’s plans to expand to serve all customers, home types

Resources:

W+R Studios

Cloud CMA

Opendoor/CloudCMA

Connect with Tyler:

Opendoor’s Agent Partner Program

Connect with Shannon:
Movoto

Shannon’s Website

Shannon on Zillow

Secrets of a Smarter MLS Episode 2: Karen Kage, Realcomp CEO | Battles won, Battles Lost

November 1st, 2019

Subscribe: Android | Email | Google Podcasts | Stitcher | RSS

Andy Woolley of Homes.com :

Karen Kage entered into the MLS industry looking for a job, not a career, answering a job wanted ad for a statistical typist at the local real estate association. That was before MLS books, in the late 1970’s, and today she is one of the most well respected CEO’s in the industry. How’s that for a career path?
Her dream job is to coach the Detroit Lions, current head coach Matt Patricia better watch out. Karen would lead the Lions sidelines with the same no nonsense, honest, and caring approach she leads Realcomp’s team of 31 employees, serving 16,400 customers.
In this episode, we explore Karen’s path to becoming CEO, her leadership style, her experience battling the FTC and a protracted class-action lawsuit, and her advice for today’s emerging MLS leaders.

Listen on the web at Homes.com Secrets of a Smarter MLS

Homes.com launches new podcast featuring Andy Woolley

October 30th, 2019

Homes.com Launches New Podcast for MLS Executives

Homes.com announced today the launch of a new podcast designed to inspire collaboration and innovation within the MLS industry. Hosted by Andy Woolley, Vice President of Industry Development for Homes.com, the “Secrets of a Smarter MLS” podcast invites MLS leaders to share ideas about the intersection of strategy, operations, and execution that result in a smarter MLS.
“In an increasingly challenging industry, demanding an increasingly smarter MLS, this podcast is an opportunity for MLS operators of all sizes to learn from their peers around the country,” says Woolley. “My hope is that this podcast will be a platform for collaboration, sharing ideas to empower all MLSs to operate smarter.”
Homes.com

It’s official! I had a little bit of a heads up on this. You can access this wherever you get your podcasts and I have also included a link to it in the “Industry Podcast” section of Vendor Alley.

Andy’s first interview features a great conversation with Jeremy Crawford, CEO of First MLS.

Homes.com’s Andy Woolley launches new podcast: “Secrets of a Smarter MLS”

October 25th, 2019

I’m excited to announce that good friend and longtime industry advocate Andy Woolley is launching a new podcast called “Secrets of a Smarter MLS”. The podcast focusing on finding out the secrets to running a successful MLS organization by talking to their leadership.

His first guest is Jeremy Crawford. Jeremy is a great first choice. Jeremy is unique because he has seen multiple sides of the industry, from vendor to holding senior MLS staff positions at multiple MLS organizations, CEO of RESO, and now president and CEO of FMLS in Atlanta, GA.

The podcast is available on iTunes or wherever you listen to podcasts. You can also listen to the episode now in your browser at the link below:

Secrets of a Smarter MLS Podcast

I’ll also be adding the podcast link to the the Industry Podcasts page here on Vendor Alley.

Congrats Andy!

Industry Relations 39: Does MLS Policy Statement 8.0 Do Enough to End Exclusive Listings?

October 9th, 2019

It’s our CMLS Conference Pre-Show Podcast! In an effort to curb the rampant growth of Coming Soon listings, NAR’s Multiple Listing Issues and Policies Committee has issued a proposal to clarify the Clear Cooperation Policy. But will the guidelines actually put an end to pocket listings? Are the rules a good compromise? Or should the MLS die on the hill of all-or-nothing, requiring members to list there first?

On this episode of Industry Relations, Rob and Greg discuss NAR’s draft MLS Policy Statement 8.0, exploring whether the guidelines go far enough in preventing exclusive listings. Rob explains why the 24-hour submission window and the concession around office exclusives are a problem, arguing that the MLS must take a stand NOW to establish itself as the primary marketplace for property listings.

Greg challenges Rob’s view that the MLS is not already the primary marketplace, applauding the 24-hour window as a reasonable and clever compromise and arguing that pocket listings are a breach of fiduciary duty. Listen in to understand Rob’s proposal to extend the all-in IDX rules to MLS membership as a whole and consider how Policy Statement 8.0 will (or will not) impact the pocket listing strategies employed by large national brokerages.

What’s Discussed:

Rob’s take that NAR MLS Policy 8.0 doesn’t go far enough

– 24-hour submission window
– Office exclusives not prohibited

Whether the MLS is the marketplace or a data repository

The potential confusion around one-to-one communication

What does and does not qualify as marketing under 8.0

Greg’s view of the 24-hour window as a clever compromise

How Rob defines a primary marketplace as first-in-time

Greg’s challenge that 70% of deals qualifies as ‘primary’

Why Greg sees pocket listings as a code of ethics issue

Extending IDX all-in rules to MLS membership as a whole

How exclusive listings benefit large national brokerages

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Resources:

CMLS Annual Conference

NAR MLS Policy 8.0

MLS Technology and Emerging Issues Advisory Board

Rob’s Post on MLS Policy Statement 8.0

Sam Debord’s Response to Rob’s Post

Rob’s Follow Up Post on MLS Policy Statement 8.0

NAR 2019 Home Buyers and Sellers Generational Trends Report

2019 Zillow Group Consumer Housing Trends Report

Our Sponsors:

Cloud MLX

The Red Dot

MLS Policy 8.0

October 7th, 2019

Advisory Board Proposes MLS Policy to Fuel Broker Cooperation

“The National Association of REALTORS® is considering a change in the association’s MLS policy aimed at creating greater cooperation between brokerages within MLSs. The “Clear Cooperation Policy“ proposal is straightforward: Brokers who are MLS participants must share listings with other brokers in the MLS if those listings are being publicly marketed. NAR is seeking member feedback on the policy before the association’s Multiple Listing Issues and Policies Committee addresses it at the REALTORS® Conference & Expo in San Francisco this November “

I’ve been asked about my thoughts on this draft. What I can say is that I think this draft policy is a great first step. While nothing is perfect we need to start somewhere and the way 8.0 is drafted I think is smart and thoughtful.

I’ve been pretty steady on my opinions about pocket listings and how they can hurt the industry. In my opinion, except in rare circumstances, the practice needs to stop.

I had a great conversation with Michael Wurzer on Listing Bits about this issue that if you haven’t listened to it yet you should. Michael is a bit more sanguine about the issue, but thoughtful as ever.

I about to start recording a Industry Relations podcast (which I hope to have ready before CMLS) with Rob Hahn this morning where we will duke it out over whether MLS Policy 8.0 goes far enough. Wish me luck!

Listing Bits Episode 50: The Pioneers of MLS Consolidation – with Brian Donnellan of Bright MLS

August 12th, 2019

“These combinations are fragile. You’re pulling 43 associations together. You’re pulling all these different boards together. You’re pulling all these different things together … so, I suppose you could look at blowing it up and go, ‘Why the hell did you do that?’ [The consolidation of MLSs] was a big deal and was very, very expensive. It really was, both in time and energy and everything involved. But you could also look at it this way: It’s something that had to be done. It really, really did. So, you can take your pain now or later.”

Brian Donnellan is the interim CEO of Bright MLS, a consolidation of nine forward-thinking MLSs in the Mid-Atlantic region that serves 85K real estate professionals and facilitates approximately 250K annual transactions valued at more than $70B. Brian has 13 years of industry experience, serving as CFO and COO of MRIS prior to the merger. On this episode of Listing Bits, Brian shares the challenges of merging different personalities and cultures and explains how the Bright consolidation gave others the courage to follow suit.

Brian also offers insight around the power of relationships in the real estate industry, the factors that influence growing agent attrition, and the value of building a product that helps brokers and agents make better decisions. Listen in to understand why Bright MLS is bringing on new staff from outside the industry and learn how the team’s commitment allowed them to endure criticism during the consolidation and get to a place they can be proud of!

**A quick note, due to a microphone issue the sound quality of this episode isn’t that great.**

What’s Discussed:

Brian’s background in information systems and public policy

How we underestimate the relationship aspect of real estate

Brian’s insight on the factors that influence agent attrition

How building a better product supports agent production

The challenge of merging the cultures of MRIS + TREND MLS

The distinction among members, customers and subscribers

The rocky start to the process of consolidating Bright MLS

How the Bright team endured the criticism on social media

The value of bringing in new staff from outside the industry

Brian’s pride in Bright’s progress and vision of the future