Rob Hahn aka The Notorious ROB and I are hosting a live recording of our podcast Industry Relations this Friday at 1:30 PT. If you ever found yourself screaming at us while listening to our podcast, now you can do live.
Register for a live recording of the Industry Relations podcast by clicking this link—-> Register
While we may not be able to predict exactly how the current health crisis will impact organized real estate moving forward, most of us would agree that change is in the air. The kind of change that could transform the way we do business altogether. So, how is the Coronavirus changing the way we think about the spaces where we live and work? And how might this new perspective lead to foundational shifts in our industry?
Jessie Beaudoin is the Founder and CEO of CallAction, a lead engagement automation platform that helps real estate agents capture, track, and respond to leads from online and offline marketing channels. He has 35 years of experience in real estate, working as a mortgage broker for nearly two decades before his interest in efficiency and scale led him to the technology space. Now, Jessie is on a mission to help businesses do more in less time through intelligent sales and marketing automation.
On this episode of Listing Bits, Jessie discusses the foundational shifts in real estate that may come from the Coronavirus pandemic, exploring how the crisis is changing the way we define ‘home’ and why the efficiencies of working remotely might shift the way we do business moving forward. He offers insight into why we lean on technology in moments of crisis and how the virus could impact the housing market in the months ahead. Listen in to understand what mainstream adoption of virtual showings means for real estate agents and get Jessie’s advice on what YOU can do to step up as a leader for your clients and your family in this challenging time.
What’s Discussed:
Jessie’s background in real estate and segue into the technology space
How the Coronavirus is giving us a newfound appreciation of what home means
How the efficiency of working remotely might change commercial real estate
Why we leverage technology in moments of crisis
The positive foundational shifts that may come from the COVID-19 pandemic
– Appreciate being together, hyper-focused during appointments
– Written + verbal communication more clear, poignant and thoughtful
How mainstream adoption of virtual and self-showings could impact agents
Jessie’s insight around how the virus might affect the housing market
The innovations that emerged in the last recession
Jessie’s advice for agents on navigating the current health crisis
– Leverage overcommunication and connection
– Depend on technology to scale efforts
– Step up as a leader for clients and family
How CallAction allows agents to scale their communication via automation
Resources:
Real Estate for Millennials vs. Baby Boomers
Gary Vaynerchuk’s Keynote at Inman Connect 2016
Connect with Jessie:
Call (323) 741-2255
What does organized real estate look like in 2030? Who is winning?
Incumbent brokerages are betting on the recruit-and-retain model that has worked for the last several decades, doubling down on the agent’s sphere as their primary source of leads. Disruptors are betting on a world where the agent matters less than the brand itself, where realtors are only responsible for service delivery and leads are generated entirely through the institution’s online platform. Who is your money on?
In this episode of Industry Relations, Rob and Greg are discussing the themes that came up at Inman’s CEO Connect and the confidence incumbent brokerages have in their ability to outlast market disruptors. They cover the advantages incumbents boast in terms of scale and profitability, exploring whether industry giants are truly all-in on technology and the iBuyer models—or if they’re adding those initiatives simply to overcome agent objections.
Greg and Rob go on to consider a potential decline in the number of agents by the end of this decade and explain why agent teams continue to pose the greatest threat to brokerages. Listen in for insight around how key players in other industries have leveraged the power of incumbency to compete with disruptors and place your bet on either the agent-centric incumbent brokerages OR the institution-focused disruptors.
What’s Discussed:
The advantages incumbent brokerages have in terms of scale + profitability
Adopting new tech as a marketing ploy to bolster a brokerage’s value prop to agents
Why many brokerages chose to partner with rather than acquire iBuyers
Why successful brokerages can do everything right and still lose market leadership
How key players in the automotive industry have leveraged the power of incumbency
The fundamental difference between real estate incumbents and disruptors
-Agent-centric, focused on recruiting/retention vs. institution-centric
-Agents as lead source vs. service delivery only
How the future of real estate will continue to be dominated by agent teams
Why the number of agents is likely to drop to 400K by the end of the decade
Connect with Rob and Greg:
Resources:
John Campbell on The Notorious Interview
Our Sponsors:
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:
Resources:
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:
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
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:
Freddie Mac Housing & Economic Research
Connect with Rob:
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.
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:
Connect with Tyler:
Opendoor’s Agent Partner Program
Connect with Shannon:
Movoto
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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 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.
Homes.com
“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.”
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.
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!
