Where Real Estate Gets Its Dirt

Industry Relations Episode 71: Creating the Bloomberg of Real Estate

Rob and I have been doing our Industry Relations podcast for a few years now and the feedback is always great. This year we decided to kick it up a notch! First, we are going to be more consistent, once a week. So far we have been keeping to that schedule. Secondly, we are starting to incorporate video, see above. Lastly, we are also ramping promotion via social media.

So make sure you like and subscribe to our Industry Relations YouTube channel and click that bell!

Follow us on Instagram and Twitter and Facebook.

And of course, you can still listen to the pod on your favorite podcast player.

We are also looking for the right sponsor. So if you want to benefit from all these recent changes we would be happy to discuss. Get in touch!


On episode 71 of Industry Relations, Rob and Greg talk about creating the “Bloomberg of Real Estate,” with special guest David Blum. David Blum is the co-founder of ‘Plunk’ where they are working to bring the next generation, real-time analytics platform to residential real estate. What does the future of this prop-tech company hold for the real estate industry? Rob Han and Greg Robertson are your hosts for the re-launch premiere of the Industry Relations podcast! Learn more about David Blum and the exciting work they’re doing for the future of residential real estate at www.getplunk.com.

What’s Discussed:  

What’s Plunk’s value proposition?

How many vendors are trying to solve the home value proposition?

How Plunk gets “ground truth” on the valuation of a home.

Creating the ticker tape of the price of a home

What is the definition of accuracy?

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Resources:

Project Ketchup: iBuying Is Just Fine, Zillow Was Not

Zillow launches retooled Zestimate that uses AI to analyze photographs and ‘see’ value in homes

Our Sponsors: 

Cloud MLX

Notorious VIP

Industry Relations Podcast: The Awful, Terrible, No-Good, Very Bad Week in Real Estate

On this week’s episode of Industry Relations, Rob and Greg take a look at some ongoing lawsuits within the real estate realm. They take aim at some lawsuits that shouldn’t have been dismissed and speak on some that definitely should be thrown out. They get into the intentions of the companies involved and how the Fair Housing Act can be overlooked unintentionally, but still have consequences for minority groups, elderly people, and disabled people. Listen to us on your favorite podcast player, Watch us on You Tube or listen below.

Industry Relations Podcast: Why we should give Sam DeBord and RESO an axe

On this week’s episode of Industry Relations Greg and Rob welcome Sam DeBord, CEO of RESO,  to the show as they dig deep into data standards and why Sam needs an axe! The guys talk about how to survive week-long conferences as it is officially convention season in America. They talk with Sam about MLS, Web API, RESO, brokers and vendors, and much more!  Watch us on YouTube or listen on your favorite podcast player or just click below.

Industry Relations Episode 68: Privacy Concerns Around Real Estate Data

Who owns the data associated with a house?

As it stands right now, the listing broker is in control. But what if a buyer doesn’t want a floor plan or 3-D walkthrough of their new home available online? 

There is growing public concern around data privacy in big tech, yet few are talking about how this translates to the real estate industry.

On this episode of Industry Relations, Rob and Greg sit down to discuss the complexities around who owns real estate data, considering whether homeowners should have ownership rights to the data for their property.

They explain the current privacy laws around street photography and explore the expectation of privacy in public records—including MLS databases.

Listen in to understand how privacy policies might impact different players in the real estate space and learn how to think about who should own property data once the SOLD sign goes up.

What‘s Discussed: 

The ruling in the VHT v. Zillow case re: copyright in real estate photography

Who currently owns the data about a house and why it’s such a complex issue

Whether homeowners have ownership rights to the data for their property

The safety concerns associated with making property data available online (for buyers and sellers)

The current laws around photography and privacy

The expectation of privacy around public records and Rob’s take on why the MLS is not a private platform

How Apple’s App Tracking Transparency policy impacts real estate vendors

How privacy policies might affect Compass’ business plan

How we rely on open data to value homes 

How the privacy issues surrounding big tech might translate to real estate

Connect with Rob & Greg:

Rob’s Website

Greg’s Website

Resources: 

Orange County Proptech Mixer

Texas REALTORS Winter Meeting

CoreLogic MLS Executive Workshop

NARPM Broker/Owner Conference and Expo

Rob Hahn on The Tom Ferry Podcast Experience EP160

Nick Conteduca on Industry Relations EP067

VHT v. Zillow

Rob’s Piece on Real Estate Photography & Copyright

Apple’s App Tracking Transparency Policy

Fannie Mae’s Uniform Appraisal Dataset

Drone Laws in Nevada

NFT Your Property with Propy

Our Sponsors: 

Cloud MLX

Notorious VIP

Industry Relations Episode 69: Push Button Real Estate with Brian Boero

Does everything have to be so fast?  Shouldn’t some things take time?  

Especially if it’s the largest purchase/sale of your life?

On this episode of Industry Relations, Rob and Greg sit down with Brian Boero of 1000watt, to discuss his recent blog post, “Pushing Buttons”.  Join this high-level discussion about the future of “push button” real estate.
 
What‘s Discussed: 

The consumer experience with pushing buttons
Redfin’s 400 step process
The genius of Zillow’s “Super App” marketing messaging
Greg talks “Zuber”
Keeping up with the consumer
What does a “better” real estate experience look like?


Connect with Rob & Greg:
 
Rob’s Website 
Greg’s Website 

Resources: 

Brian’s “Pushing Buttons” blog post
1000watt’s website
Amazon’s Day One Philosophy

Our Sponsors: 

Cloud MLX
Notorious VIP

Industry Relations Episode 66: What if Mandatory Compensation Goes Away?

Realogy caused a kerfuffle earlier this month when the real estate industry learned, in unsealed court filings, that brokerage president Ryan Gorman is opposed to NAR’s mandatory compensation rules. 

What’s behind Gorman’s stance on compensation? What does it mean for the MLS if the rules change? How would it impact brokers and agents?

On this episode of Industry Relations, Rob and Greg discuss how the value of the MLS would shift in the absence of mandatory compensation, looking at Northwest MLS as a case study around what happens when compensation is optional.

Rob predicts government regulations to eliminate the possibility of steering and Greg reflects on how the conversation around compensation might change in a buyer’s market. 

Listen in to understand why optional compensation favors big brands and find out what MLS boards, brokers and agents should be doing to plan for a world where compensation is optional. 


What’s Discussed:  

What’s behind Realogy’s opposition to mandatory compensation rules

How the value of the MLS would shift in the absence of mandatory compensation

How compensation is optional at Northwest MLS but most offer it anyway

What buyers’ agents would lose by getting booted from the MLS

The prevalence of steering and why Rob predicts regulations to eliminate the possibility 

Greg’s take on how the conversation around compensation might change in a buyer’s market

Why optional compensation privileges bigger brands (and hurts small, independent brokerages)

How compensation works in the world of commercial real estate 

Why MLS boards should prioritize investments in data and technology


Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Resources:

‘Realogy Calls on NAR to Eliminate Commission-Sharing Requirement’ in Inman

‘Agents Slam Realogy’s Call to End Mandatory Nature of NAR Participation Rule’ in Inman

Rob’s Post on Realogy’s Stance Against Buyer Agent Compensation

Rob’s Red Dot Report on CoStar’s Entry to Residential Real Estate

‘Conflicts of Interest and Steering in Residential Brokerage’ in the American Economic Journal


Our Sponsors: 

Cloud MLX

Notorious VIP

DOJ urges industry to make a clean cut. Wants Buyers to negotiate compensation directly with their agent.

Well we were all speculating whether or not the DOJ would give any clear direction on how they picture compensation to be handled thru the MLS. The DOJ did, and it’s a whooper. Basically they don’t think reducing offers of compensation down to zero matter at all. They want the industry to make a full break from seller setting the buyers agent commission at all. And site “steering” as a concern. So, more like a commercial model. This is something listeners of Industry Relations have heard Rob Hahn echo since the beginning, that steering was the main issue.

In a huge surprise this “Statement of Interest” references the Industry Relations podcast and Rob, myself and Ed Zorn directly,

“Rob Hahn & Greg Robertson interviewing Ed Zorn (VP & General Counsel atCalifornia Regional MLS), Burnett v. NAR: The Lawsuit That Could Upend the Housing Market, Industry Relations (Oct. 18, 2023), starting at 43:40, www.youtube.com/watch?v=pw39NB3w_0o&t=11s (“You do realize under this system (of the seller paying the buyer’s agent directly inside the contract) you do realize a closing statement at a title company or an escrow company looks 100% identical as it does today. With both commissions on the seller side. Nothing changes. The only thing that changes is the number that shows up for the buyer’s agent in that closing statement was negotiated between the buyer directly and the buyer’s agent and had nothing to do with the seller or the listing agent. That’s the one thing that’s different.”

STATEMENT OF INTEREST OF THE UNITED STATES, Department of Justice (DOJ)

I’m not sure whether to be honored or scared shitless that the DOJ listens to our podcast!

For clarity I’ve embedded the YouTube video so that you can see what the DOJ was referencing on our podcast, I started it a bit earlier so you can get some context ( I also think this is good primer to understand what the DOJ is asking for.)

Rob and I record our Industry Relations podcast today at 10AM. Should be a good.

About Me


Hola!

Welcome, I’m Greg Robertson and I like to write and talk about my opinions on the intersection of real estate and technology.  This is my blog, Vendor AlleyWhere Real Estate Gets Its Dirt.  I started this blog back in 2007.

I use this “About Me” page as a Linktree site.

TLDR;

Read my latest blog post on Vendor Alley
Hire me at Giant Steps
Check out real estate’s best job board at Giant Steps Job Board.
Buy my book, The Art of the CMA
Listen to my podcasts, Industry Relations with Rob Hahn, and Listing Bits.
Follow me on Twitter (X)
Email me at gregrobertson@gmail.com

I co-founded my first real estate software company back in 1992.  My recent company, W+R Studios, was acquired by Lone Wolf Technologies in December 2020.  

W+R Studios are the creators of the Cloud CMA and the rest of the Cloud Agent Suite.  Cloud CMA has over 750,000 subscribers across North America.

Cloud MLX (also part of the Cloud Agent Suite) won Inman News’ “Most Innovative Technology” award in 2016.

I am also a small investor in eWebinar, which is a great tool for automated webinars.

I started a consulting company called Giant Steps

I started Giant Steps to give back to the industry I love. Are you a new or existing vendor looking to scale? Or an MLS organization/ Association looking for guidance on the way forward in the every changing industry. Or maybe just want someone to bounce some ideas off of?

Do you have an event or meeting where you want to entertain and educate your audience? Need an MC? I can give your board of directors an “Industry Update”, or inspire your agents with my “Listing Presentation Magic” presentation. Live or on Zoom, just email me.

I wrote a book, The Art of the CMA

The book is for real estate agents and brokers about using Comparative Market Analysis reports (CMAs) in innovative ways to increase business.  You can order a personalized copy of the book here, or on Amazon.

Oh yeah, I have a couple of podcasts

I started two podcasts about real estate, the first one is Listing Bits, where I interview different people in the real estate technology industry. The second podcast, Industry Relations, I co-host with The Notorious ROB (a.k.a. Rob Hahn) where we discuss current topics in the organized real estate industry.

You can watch Rob and me on the Industry Relations YouTube Channel.

Buzz

From Amazon:

About “The Art of the CMA”

Best Actionable Real Estate Book I’ve Read Read this in it’s entirety over two days. Quick read, very informative, and I highly recommend. Not your usual (and typical) real estate book. I was already a huge fan of CloudCMA and the positive impact it had on my business.”

From Apple iTunes:

About “The Industry Relations podcast”

Excellent source of industry trends – Really learning a lot from Greg and guests about industry trends. Greg has a tremendous amount of real estate technology experience and generously shares his insights.”

Intelligent – Binge listened to just about every episode! Love the interviews, nerdy humor & thought-provoking dialogue. Hands down one of the best real estate podcasts.”

Want to sponsor this site?

If you are looking to reach anyone in organized real estate then you’ve come to the right place. My readers are some of the most influential in real estate. From veteran MLS Executives, Franchisor CEOs, Association leadership, brokers, and agents. Find out more here.

Don’t forget the Giant Steps Job Board

One of the most rewarding things to happen due to the popularity of this site is my Job Board.  I love it when people approach me at trade shows and conferences and tell me that they found a new job via the Vendor Alley Job Board, so please check it out.

Follow Me

To get email alerts whenever I post here, fill out this form.
Follow me on Twitter (X)
My LinkedIn profile
My YouTube Channel

Thanks again for visiting!

-gr

Burnett v. NAR: The Lawsuit That Could Upend the Housing Market

What if we told you that a high-stakes trial in the real estate and technology industry is about to unfold, with potential implications for consumers and the future of the housing market? Today, Rob and Greg are joined by Ed Zorn, Vice President and General Counsel at CRMLS, and they dive into the details of the ongoing Burnett v. NAR trial, exploring the various legal aspects and arguments that could lead to a major disruption for home sales.

Join us as we discuss the application of the “per se” standard, the challenges faced by the Burnett, and the pivotal role of the Multiple Listing Service (MLS) in this episode of our podcast. Don’t miss this heated discussion as Rob and Greg once again do their best to save the real estate industry.

Watch us on YouTube!

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

Notorious VIP

This podcast is produced by Two Brothers Creative 2023.

Industry Relations Episode 67: What’s Behind the Desktop Appraisal Option—with Nick Conteduca

On January 19, 2022, Fannie Mae announced a desktop appraisal option that goes live in Desktop Underwriter in March, making it possible to do an appraisal without a physical inspection.

So, what motivated this change in the rules? Why is it important? 

What does a desktop appraisal option mean for appraisers? And how will it impact the real estate industry in general?

NIck Conteduca is the Senior Vice President of Tech Innovation and Subject Matter Expert at Opteon, a global real estate appraisal firm working toward the bold vision of same-day turn times. 

On this episode of Industry Relations, Nick joins Rob and Greg to discuss Fannie Mae’s announcement, explaining what a desktop appraisal entails and the rules around who (or what) provides the information.

Nick weighs in on why there are only 75,000 appraisers in the US, describing how challenging it is to become a licensed appraiser and why the appraisal industry has a love-hate relationship with the new rules.

Listen in to understand why it’s unlikely that lenders will start using AVMs over appraisers and learn how the appraisal industry is evolving—and what technology can do to support appraisers, not replace them.

What‘s Discussed: 

What motivated Fannie Mae’s new desktop appraisal option and why it’s a big deal

What a desktop appraisal entails and the rules re: who provides the information

How information for a desktop appraisal can be verified through virtual inspection technology

Why there are only 75,000 appraisers in the US and how they’re compensated

The appraisal industry’s love-hate relationship with the new desktop appraisal option

Why it’s unlikely that lenders will start using AVMs instead of appraisers

Why real estate data in public records and on the MLS is so inaccurate (and how appraisers correct the data in Fannie Mae’s Uniform Appraisal Dataset)

How challenging it is to become a certified appraiser as opposed to a licensed REALTOR 

The relationships among appraisers, REALTORS and home inspectors

How the appraisal industry is evolving and how tech improvements might affect it

Connect with Nick:

Opteon

Nick on LinkedIn

Connect with Rob & Greg:

Rob’s Website

Greg’s Website

Resources: 

Fannie Mae’s Desktop Appraisal Option Announcement

Fannie Mae’s Desktop Underwriter

Fannie Mae’s Desktop Appraisal FAQ’s

CubiCasa Floor Plan Software

Fannie Mae’s Uniform Appraisal Dataset

Our Sponsors: 

Cloud MLX

Notorious VIP

Sponsored By Cubi Casa