Where Real Estate Gets Its Dirt

RPR was not on my bingo card

Remember back when the industry freaked out about RPR and how it could be NAR’s play to become a national MLS? I found this article from 2009, that captures the spirt of the day.

Skeptics of RPR Database Voice Worries

“Some skeptics at the conference have even referred to the Realtors® Property Resource database (RPR), as “Reaper” — as in the Grim Reaper — fearing its potential to harm their business.

Because it will not include offers of cooperation and compensation and will only be accessible to NAR members, the database won’t function as a national MLS, NAR says. Not all are ready to take NAR’s word for it.”

RETechnology

Emphasis mine. Sure you would have to be a member of NAR but in a day and age where many people are questioning what being an “MLS” even means … who knows what could happen?

Somewhere Marty Frame is laughing his ass off.

Sounds about right…

Via @mikesimonsen

Rob Hahn ties up a few loose ends of the #SitzerBurnett appeals process

Musings on the Appeals Bond Hearing

“Let’s say NAR has $500 million, BHHS has $100 million and KW has $50 million that can go towards collateral for a supersedeas bond. That’s $650 million, and that’s assuming all three organizations completely empty the bank account, liquidate everything that can be liquidated, and not even have operating funds. 

That is completely unrealistic. For one thing, they have to pay lawyers for the appeal. And pay staff and such in order to be a going concern.”

Rob Hahn, NOTORIOUS ROB

Must read.

VESTAPLUS

My thanks again to VestaPlus for sponsoring last month’s Vendor Alley! Following the success of THEMLSPRO®, in 2018, The MLS™ unveiled its next-generation software, VESTAPLUS™, an innovative and versatile suite of MLS software solutions founded on the idea of working with real estate professionals to develop technology solutions that are powerful yet easy to use. VESTAPLUS™ has become a leading technology vendor and winner of the 2020 HousingWire Tech100.

For more information please visit their website.

Bob Goldberg out at NAR

Bob Goldberg out as NAR CEO

“The National Association of Realtors’ longtime CEO Bob Goldberg is leaving the trade association, multiple sources with knowledge of the situation have confirmed to HousingWire Thursday morning.

“We are immensely grateful for Bob’s leadership and decades-long service to NAR,” Tracy Kasper, current NAR president, said in a statement. “It has been a privilege to work with him in expanding and strengthening our organization, and we congratulate him on his well-deserved retirement. His contributions to our association and our industry have been tremendous.”

Goldberg’s departure comes just two days after a federal jury in Kansas City, Missouri, ruled that NAR, HomeServices of America and Keller Williams had colluded to artificially inflate real estate agent commission rates.“

Brooklee Han at HousingWire

Damn.

Z acquires FUB for $400M

Zillow acquires CRM Follow Up Boss, super app ‘mission’ ongoing

“A CRM makes sense for Zillow. The acquisition demonstrates that the evolving proptech remains on a path to become an increasingly influential presence in the residential real estate industry with consumers and agents.

It has taken on a number of software brands of late, starting with ShowingTime in early 2021, which became the basis for ShowingTime+, an umbrella brand under which a litany of agent-oriented marketing services come to rest, such as Listing Showcase and Aryeo, a marketing media management solution which it scooped up in August.

Follow Up Boss will not be part of ShowingTime+, Zillow President Susan Daimler told Inman.”

Craig Rowe for Inman News

Congrats to Dan and his team. Follow Up Boss is all about culture. I think it’s smart not to roll them in to the ShowingTime+ team. Also, talk about timing….

The ORE “Murder Board”

My prediction #sitzerburnett

With the risk of letting one more tiger in to the ring I’m going to make a prediction. I first have to thank Andrea Brambila of Inman News for her live updates. Also Austin Alanzo from Real Estate News.

While it would have been ideal to be in the courtroom and see the reactions of the jurors to testimony I’m going to make my prediction based upon a couple precepts.

  1. The issue is more complicated than it seems.
  2. The vote must be unanimous.

So, what’s my prediction? Drumroll please……

NAR wins.

Now, I’m unsure if the jury votes on the corporate defendants separately (KW and BHHS) and I don’t know if the jury’s instruction includes a “per se” messaging (you’ll have to listen to the last few episodes of Industry Relations to understand what that means).

But based upon what I’m hearing from people inside the courtroom and the summaries I’m reading this wasn’t a “slam dunk”. So if there is any hint of uncertainty, that means an unanimous vote is unlikely.

Now I believe this is a pretty bold prediction. You’ve got a home town lawyer (Ketchmark) who apparently was close to tears in his closing arguments (tears? really? really?) and the cliche of the “greedy real estate agent”. But did they prove an industry-wide conspiracy? I don’t think so.

It’s all starting to make sense


I teased an earlier version of this on my Instagram account and Twitter. Here’s the latest and greatest.


NAR NXT Pre-Party!

In collaboration with Drew Meyers of Geek Estate (GEM), I will be hosting in the work/car studio I share with Dan Woolley ( and my two vintage VWs) a NAR NXT Pre-Party. We’ll set up tables, have local brews and a few handles, snacks, cool music, a bubble top hockey table and a few surprises. Register here.

Very close to John Wayne Airport (SNA) airport if you are flying in Monday. Or maybe a kicking off point for some of Orange County’s finest restaurants. I’ve included a map below to give you some idea of the location in respect to The Anaheim Hilton and JWA.

Open to GEM members and you pioneers of proptech and organized real estate insiders.

Drew set up an Eventbrite page please click here to register = > GEM Soiree/NAR NXT Pre-Party

Sponsored By MLS Reset