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Looks like non “association owned” MLS orgs are still on the hook
Still running through the docs. One reader tipped me off to this nugget; Check out #8 of NAR FAQ on the settlement:
“8. How does the settlement affect MLSs?
• The agreement would release association-owned MLSs from liability for the types of claims brought in these cases on behalf of home sellers related to broker commissions.
• While the release excludes MLSs that are not wholly owned by REALTOR® associations, the agreement provides a mechanism for those MLSs to obtain releases efficiently if they choose to use it…”
nar-qanda-competiton-2024-03-15
Shades of CIVIX?
Did the NAR settlement just kill ShowingTime Plus?
I’m still going through the documents but one thing jumped out at me and in my opinion could be major for sites like Zillow and Redfin offering one click showing appointments.
“MLS participants acting for buyers would be required to enter into written
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agreements with their buyers before touring a home. These agreements can
help consumers understand exactly what services and value will be provided, and for how much.”
Now reconcile that with this on Zillow’s website.
I don’t think this can be done with a simple check box on a terms of service modal. The rule says, “written agreement”. Overall the rule is a bit crazy, as one Realtor I know quipped,
“Hi. You don’t know me or my work still or level of hustle. If you want me to show you this house, you need to agree right now to pay me 3%.”
Will Zillow add NAR to its list of industry organizations they are suing?
NAR settles….
Powerful Realtor Group Agrees to Slash Commissions to Settle Lawsuits
“The settlement includes many significant rule changes. It bans N.A.R. from establishing any sort of rules that would allow a seller’s agent to set compensation for a buyer’s agent, a practice that critics say has long led to “steering,” in which buyers’ agents direct their clients to pricier homes in a bid to collect a bigger commission check.
And on the online databases used to buy and sell homes, the M.L.S., the settlement requires that any fields displaying broker compensation be eliminated entirely. It also places a blanket ban on the longtime requirement that agents subscribe to multiple listing services in the first place in order to offer or accept compensation for their work.”
Debra Kamin, New York Times
Story is developing. I’ll try and get more details.
Cloud CMA on the Apple Vision Pro
Got my hands on an Apple Vision Pro and made a quick video to see how Cloud CMA worked on the new headset. And guess what? It works! Check out the video below.
VestaPlus [Sponsor]
My thanks to VestaPlus for sponsoring this month’s Vendor Alley. VestaPlus has many solutions that MLS organizations can consider. This week I wanted to highlight there Neighborhood Snapshot product, think of it as a replacement for other market information statistics out there. Here’s a quick video:
To find out more check out their website. And if you are interested in why MLS organizations should look towards buying tools from other MLS organizations please listen to my Listing Bits podcast with VestaPlus’ VP of sales and marketing, Kelly Robinson. On that podcast where we discuss the benefits of working with another MLS organization as one of your vendors. My thanks again to VestaPlus.
Tim’s birthday fundraiser for Maui
Tim’s birthday fundraiser for Realtors® Association of Maui Community Foundation, Inc.
“For my birthday this year, I’m asking for donations to Realtors® Association of Maui Community Foundation, Inc. The goal amount might seem ridiculous but I know enough influential REALTORS® and real estate professionals that it’s possible if you decide to donate and share this effort with your network.”
Tim Dain
Let’s do this!
Gary Keller goes all in with Homes.com
Reports from Keller Williams Family Reunion show is that the Homes.com booth was crazy with agents signing up for memberships. Why? Because Gary said to.
CoStar CEO, Andy Florance was interviewed on the main stage at the event (see video below). Word is Gary Keller himself told agents to sign up for Homes.com. Which then sent KW agents flocking to the Homes.com booth. This is pretty stunning to me, Keller has frequently rubbed many vendors the wrong way.
And I can’t tell you how unprecedented this is. Gary’s influence with KW agents is legendary. You can tell by the applause (in the video below) that the messaging Homes.com is putting out (especially by the CEO himself) is resonating with agents big time.
I’ve had my doubts but if they keep up this momentum up, Ziltorfin may start pooping in their pants.
VestaPlus [Sponsor]
My thanks to VestaPlus for sponsoring this month’s Vendor Alley. I got a chance to sit down and talk with Kelly Robinson on my Listing Bits podcast. Kelly is a pioneer in the web-based MLS industry and is now heading up the sales and industry relations at VestaPlus. Kelly was also a featured speaker at the CoreLogic’s Clareity24 MLS Workshop last week.
To find out more please visit their website. My thanks again to VestaPlus.
Kevin Greene promoted to General Manager of Real Estate Solutions at CoreLogic
Kevin Greene Promoted to Executive, GM Real Estate Solutions at CoreLogic
“Most recently, Kevin served as the head of the sales team for the Real Estate business segment, where he cultivated deep relationships with key MLS clients and partners. Prior to his tenure at CoreLogic, Kevin held leadership positions in a number of real estate technology companies where he was responsible for business development and product strategy. Additionally, Kevin is a former real estate broker/owner as well as a US Army Veteran.”
Robin Wachner, CoreLogic
Well earned. Congratulations my friend!
