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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:
Resources:
Zillow’s Acquisition of ShowingTime
Our Sponsor:
Frank Martell is no longer the CEO of CoreLogic
I’m hearing from multiple sources that Frank Martell has resigned as CoreLogic CEO. Developing…
Looking for a new gig?
Customer Support Specialist – Tangilla
“We’re currently looking for a Customer Support Specialist to join our team. Who are you? You’re a fast learner with a sharp wit, which you’ll use to write answers to technical questions over email. Your deep-seated patience and ability to say the same thing in different ways will help REALTOR® Association staff succeed with Tangilla.”
Ground floor opportunity with a great group of people. The find out about this job or post a job, please visit the Vendor Alley Job Board.
The 2022 Swanepoel Power 200 list
The SP200 list is out today. You can argue the logic/criteria of these lists but I find them great for conversation and discussion. I have to say that overall the top 10 is not what I expected. When I think back to 2021 I don’t think “Wow…Gary Keller is really killing it and making the moves.” I would still say, as much as nobody wants to hear it, Rich Barton of Zillow is still the one everyone is watching.
By my count 15, MLS executives made the list. That’s down from previous years. Art Carter, CEO of CRMLS, moved into the top spot at #30. Bob Hale, CEO of HAR came in at #32, Brian Donnellan, CEO of Bright MLS at #52, Teresa King Kenney, CEO of Miami Assn. of REALTORS at #69, John DiMichele, CEO of TREB at 78, Merri Jo Cowen, CEO of Stellar MLS at 87 (up from #96 last year), Rebecca Jensen, CEO of MRED at #97.
Jeremy Crawford, CEO of FMLS at #111 (biggest mover, up from #165 last year).
Matt Consalvo, CEO of ARMLS #120, Dionna Hall, CEO of Beaches MLS at #125, Jim Speer, CEO of OneKey MLS at #134, Emily Chenevert, CEO of Austin Board of REALTORS at #155, Tom Hurdelbrink, CEO of Northwest MLS at #170, Brad Bjelke, CEO of UtahRealEstate.com at #178, Chris Carrillo, CEO of Metro MLS at #182 and AnneMarie DeCatsye, CEO of Canopy MLS at #192.
After acquiring 4 companies in 2021, Jimmy Kelly, CEO of Lone Wolf Technologies‘ first appearance on the list came in at #58 (he is going to hate that I featured him on my blog). Congrats Jimmy! 😇
Other notable vendors include Prem Luthra, CEO of Elm Street Technology at #107, Ben Graboske, president of Data & Analytics, Black Knight at #112, Michael Wurzer, CEO of FBS at #122, and Charles Drouin, CEO Prospect Software at #184.
Curious that nobody from CoreLogic appears on the list.
Other notables include Sam DeBord, CEO of RESO at #160, Denee Evans, CEO of CMLS at #179.
Natalia Karayaneva, CEO of Propy, and the biggest voice talking blockchain and crypto in real estate is the first signal of these technologies entering into our collective headspace.
Congrats to everyone! Message me if I missed anything and sorry for any typos.
Ohan Antebian joins Lone Wolf
Super happy to announce that Ohan has joined the team at Lone Wolf. Ohan is taking on the role of Vice President, Marketplace, Partnerships, and Strategic Channels (say that five times fast).
Ohan brings to Lone Wolf a wealth of experience in both growth as well as the real estate industry. Ohan is an industry veteran, having previously served in executive roles across organizations such as Sold.com, RealtyTrac, CoreLogic, RPR, BlackKnight, and Realtor.com, among others. Additionally, Ohan previously worked with Aaron and the HomeSpotter team up until 2016.
Congrats Ohan and Lone Wolf.
Join Us!
If you happen to be in Southern California I hope you will join us! To register just click here ==> Orange County Proptech Mixer
Pro Tip: Working With Real Estate Data course
I wanted to highlight a new course that was put together by the folks at RESO (Real Estate Standards Organization). Here’s what they say about it:
“Your staff and leadership are changing, and you’re making new technology decisions every year. Keep your entire team’s technology knowledge current with RESO’s Working With Real Estate Data course. The Business Module is a non-technical industry primer for understanding organizations, rules, processes and technology systems affecting real estate data.
This course is an ideal opportunity for bringing new staff members and incoming leadership up to speed. Multiple organizations are onboarding all new employees with this course, just released in 2021. Brokers, MLS employees, association staff members, and technology developers can all grow their knowledge of the industry through the WWRED Business Module.
Empower your team to earn their RED-B designation today. Visit reso.org/wwred to register or contact randi@reso.org for bulk registration pricing.
I just started taking the course myself and was super impressed. You also get this cool “RED-B” certification when you pass the course. To find out more click on this link ==> RESO Education Course: Working With Real Estate Data (WWRED)
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:
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 results are in…
2021’s Best Practices for CMAs and Listing Presentations Survey
“This year, nearly 5,000 real estate professionals completed the survey—a 49% increase over 2020. We asked questions from how real estate professionals find their comps to putting together a CMA report, to their behaviors at a listing presentation. This year we also asked how the pandemic has changed their business—like if they plan to deliver a virtual listing presentation in the next 6 months.”
This was a big hit back in 2020 and was happy to see us do it again. Lots of great information that will benefit any agent or broker using CMAs in their business. Please share!
