Where Real Estate Gets Its Dirt

Industry Relations Episode 70: The MLS’s Role in Building Tech to Facilitate Cooperation – with Justin Landon & Ryan Castle

On episode 66 of Industry Relations, Rob and Greg discussed the potential repercussions of ending mandatory compensation. And Rob asserted that without cooperation and compensation, the value of the MLS lies solely in its data and technology tools.

How did those comments sit with MLS leaders?

Justin Landon is the CEO of the Lexington-Bluegrass Association of REALTORS, a 4,000-member MLS based in Lexington, Kentucky. Ryan Castle serves as CEO of the Cape Cod & Islands Association of REALTORS, a 3,000-member MLS serving Cape Cod, Martha’s Vineyard, and Nantucket. On this episode of Industry Relations, Justin and Ryan join Rob and Greg to share their argument against the assertion that the value of the MLS is tied solely to buyer’s compensation.

Justin and Ryan describe the work they do to ensure that listing agents follow data compliance guidelines, explaining how the MLS has evolved to become a catalyst for the adoption of technology and a distribution mechanism among agents and consumers. Listen in for insight on why compensation is usually offered even when it’s not required and learn about the MLS’s role in building technology that facilitates cooperation.

What’s Discussed:  

Justin & Ryan’s argument against the assertion that the value of the MLS is tied solely to buyer’s compensation

The work MLSs do to ensure that listing agents follow data compliance guidelines

Why MLS teams need to know the areas they’re serving

How the MLS has evolved to become a distribution mechanism among agents and consumers

Why Rob suggests that MLSs need to invest in developing their own technology if compensation ends

The MLS as a technology provider vs. catalyst for the adoption of technology

Why compensation is usually offered even when it’s not required

The relationship between compensation and the steering problem in real estate

The potential to add reverse auto prospecting and rental data to the MLS

How NAR’s focus on the distribution of data provides an opportunity for MLSs

The MLS’s role in building technology that facilitates cooperation

What we need to do to prevent the government from making the MLS a public utility

Connect with Justin:

Lexington-Bluegrass Association of REALTORS

Connect with Ryan:

Cape Cod & Islands Association of REALTORS

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Resources:

What if Mandatory Compensation Goes Away? on Industry Relations EP066

MLS Grid

Buyside

RealScout

FloPlan

Our Sponsors: 

Cloud MLX

Notorious VIP

Jessica Richardson joins PropStream

Jessica Richardson joins PropStream on their MLS and Broker Sales team focusing on industry relations and integrations. PropStream CEO Brian Tepfer noted that Jessica will be “a wonderful addition to our team.”

Jessica had previously worked At zipLogix as a National Account Manager. After zipLogix was acquired by Lone Wolf, she took the role as Strategic Account Manager. That’s where I met her and she eventually joined my MLS team as an Enterprise Account Manager where she was super impressive and helped me tremendously.

I couldn’t be happier for Jessica. Both Brian and Jessica will be in Boston this week. Congratulations to Brian and the rest of the PropStream team.

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.

RESO 2025 Board of Directors Announced

Pictured left to right from top left: (Row 1) Rebecca Jensen, John Breault, Melissa King, Richard Renton, (Row 2) Alex Lange, Bob Evans, Caitlin McCrory, Dan Troup, Dan Weisman, (Row 3) Greg Moore, Janine Sieja, Joseph Szurgyi, Joe Wilhelmy, Katy Davenport, (Row 4) Matt Cohen, Matt Hendricks, Michael Hayes, Michael Wurzer, (Row 5) Patrick Pichette, Shayne Fairley, Ross Buck.
(Pictured left to right from top left: (Row 1) Rebecca Jensen, John Breault, Melissa King, Richard Renton, (Row 2) Alex Lange, Bob Evans, Caitlin McCrory, Dan Troup, Dan Weisman, (Row 3) Greg Moore, Janine Sieja, Joseph Szurgyi, Joe Wilhelmy, Katy Davenport, (Row 4) Matt Cohen, Matt Hendricks, Michael Hayes, Michael Wurzer, (Row 5) Patrick Pichette, Shayne Fairley, Ross Buck.)

RESO Announces 2025 Board of Directors Election Winners

“Election winners representing Multiple Listing Services (MLSs) and REALTOR® associations:

  • John Breault, VP, MLS, State-Wide MLS in Rhode Island
  • Greg Moore, CTO, Regional Multiple Listing Service (RMLS) in Oregon

The winner of the open board seat representing technology companies, developers, partners and consultants:

  • Michael Hayes, Executive Director, Industry Development, Homes.com

Winners representing real estate brokerages, brokers, agents and appraisers:

  • Joe Wilhelmy, VP, Business Technology, RE/MAX
  • Caitlin McCrory, VP, Industry Relations, Anywhere”

Congrats to everyone.

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:

Rob’s Website

Greg’s Website

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 Bitcoin Standard Podcast

Saifedean Ammous on YouTube

Two great pods to listen to on your way to NAR Boston

I know a lot of you like me are traveling to NAR Boston today, so I’ve got a special twofer for you.

“The Worst of All Possible Worlds?” – Industry Relations Podcast. Rob and I explore how the upcoming election could reshape the real estate industry, focusing on regulatory impacts, DOJ actions, and antitrust issues. They also discuss potential changes to industry practices and transparency in agent behavior. We both made a steak dinner bet on the outcome of the election. Listen to see which one of us was right.

“The Front-Endless MLS System with Carlos Grass and Paul Hethmon” – Listing Bits Podcast. I sit down with Carlos Grass and Paul Hethmon, co-founders of Amplify, to discuss their innovative “front-endless” MLS backend platform. This episode highlights Amplify’s unique approach to creating a flexible, adaptable MLS backend designed to empower MLSs with greater control and cutting-edge technology. This is an exciting category with a few players ready to take on the future of MLS.

Listen to them both on your favorite podcast player!

More info on FCC’s new robocalls rules

Victor talks about some of the details to the FCC new rules as it apples to real estate lead aggregators.

“Real estate leads are among the most expensive leads generated across all American business, often leading to real estate professionals paying as high as 40% of their commission for a sale generated from a lead. Many leads generated at online shopping websites are sold over and over again, causing consumers to be inundated with spam-y text messages and robo-calls that seem to have no end. Now, there must be a clear opt-in by consumers to this form of communication. The FCC wants the consumer to opt in on a 1-to-1 basis to each company that will receive their contact information. “

Victor Lund, WAV Group

As Rob and I discussed on a recent Industry Relations podcast we think this is going to have a bigger impact than any one realizes.

Zillow asks industry to save its ShowingTime business

Zillow’s new touring agreement puts consumers first

“Our touring agreement–which expires after seven days and covers touring activities only – does not require compensation or exclusivity. That’s by design. We believe any negotiation of compensation, and what it will look like for the buyer and agent to work together, should happen after both meet and feel ready. At the time when an additional agreement is signed, the buyer and the agent should be aligned on all terms and expectations, including compensation, with no surprises. “

Errol Samuelson, Zillow Group

I think we all knew that the NAR Settlement requirement for agents to have a written agreement for showing homes threw a big wrench in Zillow’s attempt to “Uberize” real estate agents with the “Request A Tour” button.

Under the guise of “putting consumers first” Zillow’s “touring agreement” is a pretty clever attempt to help them save their Premier Agent/ShowingTime Plus business.

In my mind’s eye I can see Zillow’s Industry Relations Reps loading their slide decks, making restaurant reservations, attending to last minute party details, and filling their hotel suites with bottles of Fiji water in preparation for their descent in to Washington DC for the NAR Midyear meetings next week.

Raise your glass of Silver Oak high for these champions of consumers!

Webinar: The Truth about the NAR Settlement

Rob Hahn, my partner in crime at the Industry Relations podcast is hosting a webinar Tuesday, March 26 from 9 – 10:30am PT, this is “must see tv” in my book. So, fire up the flat screen in your conference room and gather round your senior execs. From his announcement:

“It’s been quite a few days. I’ve been getting absolutely hammered with questions from some of you, plus the media, plus investors, plus plus plus. While I’m happy to answer them, and have as much as I could, I thought it time to just hold a webinar and see if I can do it all in one place and one time.

I’ll go over:

  • What the Settlement Agreement actually says.
  • What it requires of brokers, agents, MLS and Associations.
  • What it likely means for you and the industry.
  • Possible unexpected consequences.

I’ve done webinars like this a couple of times in the past, and thought they were useful.”

The Notorious ROB

Click this link to register = > The Truth About the NAR Settlement

It’s $399, but $200 cheaper if you are a Notorious VIP subscriber. As Rob says, “If you are not a VIP Subscriber, well… you can do the math.”

Support independent creators in our space. Sign up today!

T3 Sixty pens, “Letter to the Industry”

Letter to the Industry – Compensation Lawsuits

“The recent settlement between MLS PIN and plaintiffs in the Nosalek case reveals that foundational change to the structure – a decoupling of buyer broker compensation from listing broker compensation to some degree – will most likely occur sooner than later. These changes could come because of a settlement, a judge’s injunction or, if the industry is smart, by key stakeholders’ proactive adjustments to their policies and practices.”

Rob and I have been discussing this for a while now and will cover some of the implications of the Nosalek case on this week’s Industry Relations pod.

The bottom line is shit’s getting real.

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