According to an internal message, Kim Roller-Hoereth is joining ShowingTime as an Industry Relations executive. She will work closely with Mike Lane and ShowingTime’s MLS sales and account management team to support MLSs, Boards, and Associations throughout the US and Canada.

Great gig for Kim, she’s an industry vet and well respected. Congrats to both Kim and ShowingTime.

**** NOTICE:  We recorded this pod using Zoom audio but had a few technical issues. The audio quality wasn’t great and at some point, Zoom stopped recording altogether.  We were able to piece together a good episode but not the whole conversation.  I’m super bummed, but we all agreed, even if it’s not the full conversation, it’s still something we wanted to put out there. ****

Systemic racism has its roots in housing. Government policies deliberately disadvantaged Black and Brown people, and that’s led to segregated communities, educational inequalities, and a substantial wealth gap. So, what can we do as an industry to address these disparities and better serve ALL of our clients?

On this episode of Industry Relations, Emily Chenevert, CEO of the Austin Board of Realtors, and Kenya Burrell-VanWormer, SVP of Diversity Solutions at T3 Sixty, join Rob and Greg to discuss the history of race discrimination in real estate, explaining how practices like redlining have stunted the Black community’s capacity to build generational wealth and why industry organizations need to recognize and publicly denounce the racism of the past.

Emily and Kenya share how the industry has improved, describing NAR’s shift to prioritize diversity and inclusion and exploring what organized real estate might do to further educate association members around equity moving forward. Listen in for insight on tackling homeownership disparities and learn what is (and what isn’t) our responsibility to do as an industry to address racial inequality in America.

What’s Discussed: 

The history of race discrimination in real estate (i.e.: redlining, racist land-use patterns)

How racism around housing has stunted the Black community’s ability to build generational wealth 

The government’s role in creating a wealth gap in the US

Why organizations like NAREB exist independently from NAR

Greg’s call for industry organizations to recognize and denounce the racism of the past (and what that might look like)

The shift from diversity and inclusion as an afterthought to a need within NAR

How we might educate association members around issues of equity

The lack of diversity among the leadership in real estate associations and MLSs

Why 25 of the 26 agents caught steering on Long Island are still working

Kenya’s insight on tackling homeownership disparity by way of education, opportunity, and resources

Emily’s experience with difficult conversations on race as Austin overhauls its land development code

What it’s our responsibility to do as an industry to address racial inequality (and what’s not in our lane)

Connect with Emily:

Austin Board of Realtors

Emily on LinkedIn

Scratch That Podcast

Connect with Kenya:

T3 Sixty

Kenya on LinkedIn

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Resources:

Michelle Mills Clement

The Color of Law: A Forgotten History of How Our Government Segregated America by Richard Rothstein

How the GI Bill’s Promise Was Denied to a Million Black WWII Veterans’ in History

Discrimination in Levittown

National Association of Real Estate Brokers

Richard Rothstein

Eddie S. Glaude Jr.

NAR Leadership Summit 2020

Bob Goldberg

The Chicago Association of Realtors’ Apology & Recommitment to Fair Housing

The Newsday Investigation on Steering

Fair Housing Act

M. Ryan Gorman

HAR Diversity and Inclusion Task Force

Austin’s Land Development Code Revision

NAR’s Code of Ethics

Our Sponsors:

Cloud Agent Suite

Notorious VIP

It has come to light in recent days that REX was the ‘power behind the throne’ in the Department of Justice’s lawsuit against NAR (and subsequent settlement). The suit alleged that the trade group’s rules on commissions artificially inflate the fees paid to real estate agents and put illegal restraints on competition in the market. So, what inspired the upstart firm to take its concerns to the DOJ?

Jack Ryan is the co-founder and CEO of REX, the digital alternative to the residential real estate agent. REX uses big data and AI to provide consumers with significant cost savings and improved customer experience. On this episode of the Industry Relations, Jack joins Rob and Greg to explain why REX went to the Department of Justice and address the perception that his team is hostile to organized real estate.

Jack offers his take on why a commissions drop is not bad news, describing his libertarian vision of the future of real estate and how all involved would benefit—including MLSs, brokers, agents, consumers, and communities. Listen in for Jack’s insight on eliminating the friction from the home buying process and find out what would have to change for REX to join the MLS.

What’s Discussed:  

Why REX went to the DOJ with NAR’s ‘illegal restraints’ on competition in the market

What differentiates REX from other residential real estate brokerages

What’s behind REX’s decision not to join the MLS

Eliminating repetitive, standardized activities to make the real estate transaction more efficient

What the REX workflow looks like from a buyer’s perspective

Why Jack is more concerned with changing the system than making money

Jack’s argument that a commissions drop is not bad news

How Jack thinks about eliminating the friction from buying and selling a home

How a seller benefits from working with REX in terms of cost savings and level of service

The perception that REX is hostile to organized real estate and what would have to change for Jack to join the MLS

Jack’s libertarian vision around the future of real estate

How REX’s AI continues to improve and Jack’s intent to make the tech available to other brokers and agents

Connect with Jack:

REX

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Resources:

Rob’s Piece on REX and the DOJ

Video of Jack on Vendor Alley

Jack’s article on Real Clear

NAR Code of Ethics

Our Sponsors: 

Cloud Agent Suite

Notorious VIP

No one in the real estate industry planned for a global pandemic to hit in 2020. So, what does a black swan event like the Coronavirus mean for agents, brokerages, associations, MLSs, and vendors? How does the potential economic effect of COVID-19 parallel the virus itself?

On this episode of Industry Relations, Rob and Greg are discussing the short- and long-term impact the Coronavirus is likely to have on the real estate industry. They explain how fear and uncertainty might hurt the housing market over the next several months and explore the opportunity the pandemic presents for models like Redfin and Opendoor as well as investors with deep pockets. 

Greg and Rob go on to consider how the cancellation of real estate conferences will cause a domino effect through many other industries and which brokerages, agents and vendors won’t be able to survive this kind of pause in business. Listen in for insight on the serious flaws in our economic system exposed by the health crisis and learn how embracing a little of the prepper mentality can help us respond and adjust to a black swan event like the Coronavirus.

What’s Discussed: 

The short-term impact Coronavirus might have on the housing market buyers take wait-and-see approach

-Retreat of first-time homebuyers

-The potential opportunity for models like Redfin and Opendoor

How investors are likely to take advantage of low-interest rates

The cancellation of real estate events and its domino effect through other industries

How the economic fallout of the Coronavirus parallels the virus itself

The brokerages, agents and vendors who may not survive a pause in business

How the pandemic exposes flaws in our economic and healthcare systems

Rob’s insight around manufacturing necessities here in the US

The pros and cons of having the world’s reserve currency

Embracing the prepper mentality to survive unforeseen circumstances

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Resources:

Rob’s Post on COVID-19

President Trump’s March 11 Address

Nassim Nicholas Taleb

The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb

Antifragile: Things That Gain from Disorder by Nassim Nicholas Taleb

Our Sponsors:

Cloud MLX

The Notorious VIP

Pacaso taps dotloop exec Marnie Blanco to lead industry relations

“Prior to Pacaso, Blanco served as dotloop’s vice president of industry relations and helped the Zillow Group brand build partnerships with MLSs, associations and third-party integration partners. Blanco launched her real estate career as RE/MAX’s vice president of eBusiness, where she led technology innovation, product management, product marketing, and training for the network’s broker and agent technology platforms.”

Great move. I think this is a huge blow to Dotloop. Dotloop, as most people know, is owned by Zillow. Zillow’s recent acquisition of ShowingTime has also put the spotlight back on dotloop’s ownership. If there was ever a need for industry relations it would be now.

It’s no secret I’m a big fan of Pacaso’s value proposition. I’ve interviewed both Austin Allison and Spencer Rascoff about Pacaso on both my podcasts, Listing Bits and Industry Relations with Rob Hahn.

Congrats to Marnie and Pacaso.

Last week, Rob & Greg imagined what the future of real estate might look like in the aftermath of the pandemic, pending a best-case scenario. Today, they get real about what’s ahead for the industry given the reality of our current circumstances. And they’re bringing on a number of industry stakeholders to offer their outlook as well.

On this episode of Industry Relations, Rob and Greg are leading a group chat around what’s next for real estate as the Coronavirus pandemic plays out. The group offers predictions on how the MLS landscape may change, debating whether it’s the number of MLSs or the number of MLS databases that really matters and offering examples of hybrid solutions that may serve as a model for the future.

Greg and Rob go on to solicit the group’s thoughts on the potential shape of the recovery curve and the possibility of a shift to a buyer’s market in 2021. Finally, they explain why an increase in property taxes is likely in the aftermath of the COVID-19 bailout and how that might impact buyer demand in the real estate market. Listen in for insight on Open House numbers in states where stay-at-home orders have been lifted and learn how those stats might be a good sign for other industries.

What’s Discussed: 

A review of what Rob & Greg covered in their best-case discussion

Greg, Clint & John’s predictions re: the number of MLSs by 2023

Why the consolidation of data is more important than the total number of MLSs

Tim’s vision of a future with ten or fewer MLS databases that talk to each other

How the pandemic demonstrates the industry’s underutilization of telecommunication

Why Georgia is watching the commercial market for clues re: the future of residential

Georgia’s concept of a J-shaped recovery

Why Joshua is predicting a buyer’s market in 2021

Why Greg expects a best-case scenario uptick in buyer demand

Why property taxes are likely to increase and how that might impact buyer demand

The significant uptick in Open Houses scheduled in states where stay-at-home orders have been lifted

How Open House numbers may be a good sign for other industries

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Resources:

MLS Grid

MLS Aligned

Northstar MLS CDP

MetroList

Great Recession + COVID-19 Bailout Comparison

ShowingTime Showing Activity Statistics

Our Sponsors:

Cloud Agent Suite

Notorious VIP