Where Real Estate Gets Its Dirt

Industry Relations: Inman Disconnect and a New Set of Principles for Real Estate (The Parker Principles)

Observe. Orient. Decide. Act.

 

The OODA loop is a tool for decision-making developed by military strategist John Boyd. At the Inman Disconnect Conference in Palm Springs, organizers focused on the Orient piece of the process, collaborating with attendees to design a set of principles to govern the industry moving forward. The question becomes, how might those principles influence decision-making in real estate? And will such a manifesto inspire industry players to look inward and take the necessary action?

 

Today, Rob and Greg debrief the Inman Disconnect Conference, applauding Brad Inman’s investment in engaging the industry. They discuss the history behind the Ahwahnee Principles, a new approach to urban planning developed by mavericks in the space in the 1970’s, and how Brad is working to emulate the design of a similar manifesto for real estate. Rob offers insight around the impact of developing a set of principles and how that might translate to action and policy change moving forward, and Greg explains how big gains can be made by people in a community changing small habits over time. Rob and Greg touch on some of the principles addressed at the conference, including low-income housing and big data. Listen in as they share their top takeaways from Inman Disconnect and how the principles can serve as a device to communicate about the way we do business.

 

What’s Discussed:

 

The intent behind the Inman Disconnect Conference

Brad Inman’s investment in engaging the industry

The history behind the Ahwahnee Principles

-New approach to urban planning

-Grew into manifesto (1970’s)

Brad’s aim to develop a set of principles for real estate

The real estate establishment vs. industry ‘rebels’

The controversial issues discussed at Inman Disconnect
-Low-income housing

-Free, open data

Rob’s insight around the impact of principles

-Govern actions, have consequences

-Influence policy changes

Greg’s take on the impact of small changes

Greg’s view on big data and privacy

How the principles might translate to action

-‘They’ vs. ‘I’

-Device to start conversation

 

Resources:

Inman Disconnect

The Parker Principles – A Real Estate Manifesto

Nudge: Improving Decisions About Health, Wealth, and Happinessby Richard H. Thaler and Cass R. Sunstein 

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

 

Our Sponsor(s):

Cloud Agent Suite

Industry Relations: Bold Moves by Bob Goldberg and National Standards in Real Estate Data

After seven months in office as CEO of the National Association of REALTORS, Bob Goldberg has made some bold moves with regard to AMP and RESO-compliance. He’s also scored big on Capitol Hill, lobbying last-minute changes to the tax reform bill. And he’s cut the NAR budget by 20% and made some significant staffing changes. But should we be celebrating Bob as a change agent just yet?

 

Rob and Greg come to you live from the 2018 MLS Executive Workshop in Scottsdale to argue both sides. Yes, Bob has done more in seven months that we have seen from NAR leadership in quite some time, but there is a low bar for change in the association world. The scope of Bob’s success depends on your basis for comparison, and as you may have guessed, our hosts have very different takes on the issue.

 

Rob and Greg take on other hot topics in real estate as well, covering the major challenges in making Upstream work, the upcoming Department of Justice and Federal Trade Commission workshops around real estate data, and how a set of national standards would impact vendors. Listen in for Rob’s take on potential government mandates and Greg’s insight on the ‘holy grail’ of real estate tech—marrying data standards with permission to sell.

 

What’s Discussed:

Bob Goldberg’s bold moves as NAR CEO

-Decision to scuttle AMP

-Enforce RESO standards

-Staffing changes

The low bar for change in the association world

How NAR dodged a bullet with Trump’s tax reform

How the governance model affects the pace of change

How cutting the NAR budget by 20% may impact jobs

The standardization required for Upstream to work

The challenges around MLS vendors and unfunded mandates

The upcoming DOJ/FTC workshops re: real estate data

Rob’s take on making RESO standards law

Greg’s insight on how national standards would impact vendors

– Easier for new vendors to enter space

Marrying standards in real estate data with permission to sell

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Our Sponsor:

Cloud Agent Suite

Industry Relations: Rob & Greg’s 2018 Real Estate Industry Forecast

What’s in store for the real estate industry moving forward into 2018?

Some might consider this a supplement to Rob’s article on Inman News, 7 predictions 2018: Disco Fever.  But it was recorded before the article was published.  In this episode Rob and Greg try their hand at anticipating what’s ahead, offering predictions around the outlook for the MLS, Bob Goldberg and the NAR, the housing market, brokerages, technology and the culture of the industry. They begin with the ‘Blame the MLS’ debate caused by Bob’s response to the Inman Upstream article and Greg’s subsequent South Park blog post. Next, they offer an overview of leadership changes among major industry players and work through the big mystery surrounding RE/MAX’s failure to report Q3 earnings.

Rob and Greg speak to Facebook’s entry into real estate, discussing the differences between the social media powerhouse and Zillow as well as the potential for a syndication deal with Facebook in the coming year. They cover how MLS of Choice is likely to affect the industry, the continuing trend toward the tech-enabled brokerage model, and how NAR’s success in making changes to the tax plan might play out in the 2018 campaign season. Listen in for Rob and Greg’s insight on how the cultural phenomenon that is #MeToo might rock real estate and who will make the biggest splash in the technology space this year.


What’s Discussed:

The tendency among industry players to ‘blame the MLS’

The mystery around RE/MAX’s failure to report Q3 earnings

Facebook’s entry into real estate

– Match vs. search

The potential for a direct syndication deal with Facebook in 2018

Real estate as the ‘last frontier of disruption’

Greg’s insight around the rise of virtual MLSs

How MLS of Choice could trigger the first ‘hostile takeover’

The likelihood of non-contiguous consolidation activity among MLSs

Rob’s take on how HAR could leverage MLS of Choice

NAR’s big win on Capitol Hill regarding the tax plan

NAR’s increase in political spending in 2018

The trend of brokerages to adopt a tech-enabled model

–  Keller Williams culture of freedom
–  Agent adoption not a given

Mergers and acquisitions in the vendor space

The probability that #MeToo will rock real estate in 2018

Who is apt to make the biggest splash in real estate tech this year


Resources:

Andrea’s Upstream Article in Inman

Bob’s Email Response

‘Blame the MLS’ on Vendor Alley

Rob’s 7 Predictions for 2018

Everybody Wins: The Story and Lessons Behind RE/MAX by Phil Harkins and Keith Hollihan

Mike’s Breakdown of Facebook vs. Zillow

Inman Article on Using Facebook for Lead Gen

Brad’s NAR Article in Inman


Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Listing Bits Episode 34: Building a Full-Service Brokerage in the Virtual World with Cameron Paine of eXp Realty


 

 

As real estate professionals spend less and less time in the office and real estate offices host fewer and fewer walk-ins, you might start to question the merit of spending top dollar for office space in a high-rent district. What if you saved that money and reinvested it in agent services? What if you could build a full-service brokerage in the virtual world, conducting business and meeting with colleagues in VR?

 

Cameron Paine is the Senior Vice President of Industry Relations at eXp Realty, the world’s most successful virtual, full-service brokerage. eXp invests the money saved by having very few offices into the technology that helps its agents stay relevant. In his role as Senior VP, Cameron is responsible for seeking collaboration opportunities with MLSs, Associations, brokerages and technology partners. Camron’s resume includes 15-plus years combined experience as top executive for an MLS and Association, and he has been recognized by Inman Newsas one of the Top 100 Most Influential People in Real Estate.

 

Today, Cameron shares eXp’s decision to invest in change rather than fight it. He explains how a progressive MLS facilitates a broker’s ability to do business and offers insight around the innovative joint system between Arizona Regional and Metro MLS. Listen in to understand how eXp helps its agents build wealth by investing in the company and learn how the brokerage is creating a virtual world for its employees and partners!

 

What’s Discussed:

 

eXp’s decision to invest in change rather than fight it

How eXp serves as a virtual, full-service brokerage

How eXp agents build wealth by investing in the company

The benefits of running a brokerage without office space

Cameron’s background in MLS and Association leadership

How a progressive MLS facilitates a broker’s ability to do business

The innovative joint system between Arizona Regional and Metro MLS

Greg’s argument for a New Jersey and Palm Beach MLS data share

Cameron’s responsibilities as SVP of Industry Relations at eXp

-Collaborations with other brokerages

-Opportunities with tech vendors

How eXp was designed for agents as a tech-forward brokerage

How eXp has created a virtual world for employees and partners

 

Resources:

 

Russ Bergeron

ARMLS|Metro MLS

 

Connect with Cameron Paine:

eXp Realty

Cameron on LinkedIn

Industry Relations: Rob and Greg’s 2017 Year In Review

Take a moment to reflect on the past year in real estate… What were the hot topics of 2017? The appointment of a new NAR CEO is probably on your list, along with Zillow jumping into the iBuyer game and Redfin going public. Maybe the Upstream pivot came to mind, or one of the many stories around venture capital and private equity investing in tech-enabled brokerages.

Rob and Greg are taking the time to look back at 2017 and discuss the top five issues that rocked residential real estate this year. They start with the appointment of Bob Goldberg as the new leader of NAR, evaluating his performance so far and how the proposed tax bill will test him in this role. Rob and Greg go on to cover 2017 as the year of the iBuyer, explaining how the model is yet to be profitable and the circumstances under which platforms like Opendoor and OfferPad might become more mainstream.

Rob offers his take on the dynamics between Redfin and Zillow, discussing why he considers the Redfin IPO to be the biggest thing in real estate this year. Greg raises the issue of SoftBank’s investment in Compass, speaking to the influx of capital pouring into the space and the many examples of consolidation in the industry. They walk through the impact of MLS of Choice and what might change as a result of the new policy as well as the question of what success looks like for RPR as Upstream appears to lose relevance. Listen in for Rob and Greg’s overview of the hottest stories in real estate this past year and their insight on what’s to come in 2018.

What’s Discussed:

The appointment of Bob Goldberg as NAR CEO
How the tax reform bill will serve as a test for Bob
What made 2017 the year of the iBuyer
How market conditions and margins impact the popularity of iBuyers
Why Rob considers Redfin going public the biggest event of 2017
Redfin’s employee-agent model and culture of consumer focus
The influx of capital pouring into residential real estate
– SoftBank’s $450M investment in Compass
– Consolidation and tech-enabled brokerages
The significance of ‘MLS of Choice’
The proposal to shut down RPR
Upstream’s apparent loss of relevance

Resources:

Brian Boero on 1000watt
“Why Does Compass Keep Winning?” in Inman

Connect with Rob and Greg:

Rob’s Website
Greg’s Website

MLS PIN promotes key executives Melissa Lindberg and Holly Haines

I’m still catching up from the CMLS conference but didn’t want to forget to share this exciting news.

MLS Property Information Network, Inc. Appoints Melissa Lindberg to Chief Strategy and Marketing Officer

“In this new role, Melissa will provide leadership and management while focusing on MLS PIN’s strategic initiatives and opportunities in alignment with the company’s goals for growth. Her responsibilities include industry relations, marketing and communication, expansion, customer engagement and education, product user interface, and the roll-out of company initiatives.”

MLS Property Information Network, Inc. Appoints Holly Haines to Chief Operating Officer

“In this new role, Holly will provide leadership and management while focusing on organizational excellence and technical vision in alignment with the company’s goals for growth. Her major responsibilities include internal operations, software and product development, quality assurance, administration, and human resources.”

In reading both press releases about Melissa and Holly’s accomplishments it easy to see why Kathy has given them these new responsibilities. Congrats to Melissa and Holly.

Bill Andrews leaves Remine Annette Sheffler leaves SentriLock, both headed for Black Knight

Bill Andrews, and maybe at this point I should clarify, Bill Andrews Sr. since he has made this industry a family affair. His son Bill Andrews is National Sales Manager- MLS relations at RateMyAgent and his other son, Ryan Andrews is Director of MLS relations at LionDesk. ????

Bill Sr. has joined Black Knight, this is after joining Remine back is October 2019. Bill has worked for several companies in the industry, I think it goes something like this. Rapattoni, Tarasoft, CoreLogic, Zillow, Remine, a little consulting, and now Black Knight.

Also, fellow DeVry grad, Annette Sheffler, has left SentriLock and joined Black Knight as a product consultant.

I’m also hearing rumors about one or two others that could be making moves. Don’t know who or where yet, seems like the powers to be haven’t taken their finger off the chess piece yet.

Great to see that Black Knight is not sitting still during this crazy time and making investments in what matters most, good people.

Caitlin McCrory joins Redfin

Welcome Caitlin McCrory, Redfin’s New Head of Industry Relations!

“We’re thrilled to announce that Caitlin McCrory is becoming a Redfinnian! As head of industry relations, Caitlin will work to strengthen Redfin’s relationships with multiple listing services, associations and other brokerages around the country. Caitlin will focus on supporting the MLSs’ mission to share data fairly, advocating for listing brokers to get proper credit for the listing data they share, and suggesting ways MLSs and associations can support innovations that benefit agents and customers alike.”

Nice get for Redfin. Super excited for her. Congrats to both Redfin and Caitlin.

Industry Relations EP013: Barriers to Change in the MLS with James Dwiggins and Sam DeBord

Stakeholders from every facet of the real estate industry are calling for change. Problem is, that’s about the only thing they can agree on. So what happens when you put a broker, a vendor, a consultant, and NAR leadership in the same room to talk about all things MLS? A sometimes uncomfortable, yet revealing discussion around consolidation, data standardization, MLS fees, and the policymaking process.

Stakeholders from every facet of the real estate industry are calling for change. Problem is, that’s about the only thing they can agree on. So what happens when you put a broker, a vendor, a consultant, and NAR leadership in the same room to talk about all things MLS? A sometimes uncomfortable, yet revealing discussion around consolidation, data standardization, MLS fees, and the policymaking process.

Live from CMLS2017 in Austin, Rob and Greg are joined by James Dwiggins and Sam DeBord. James is the CEO of NextHome, a progressive real estate franchise with consumer-focused branding, technology and marketing. Prior to founding NextHome, James served as Chief Strategy Officer and VP of Realty World Northern California & Nevada. Based in the San Francisco Bay Area, James’ impressive resume also includes VREO, a groundbreaking company he co-founded in 2000 to develop web applications for agents and brokers.
Sam is both the managing broker for Seattle Homes Group and VP of Strategic Growth for Coldwell Banker Danforth. In addition, he is a member of the MLS Technology and Emerging Issues Advisory Board, and he will serve as the Vice-Chairman of MLS Policy for NAR next year. Sam writes for a number of real estate news outlets, and he was named to SP200’s Top 20 Social Influencers and Inman’s Top 101 in Real Estate.

Listen in as Greg, Rob, James and Sam search for a little common ground when it comes to the future of the MLS. James shares his concern regarding a lack of non-REALTOR members in NAR decision-making bodies, and Sam offers his take on the future of the industry. They cover the political barriers that prevent true collaboration in the industry, how the not-for-profit mandate hinders MLS progress, and the value of vendor-inclusiveness. 

 

What’s Discussed: 

James’ message at the CMLS event in Austin
The ongoing conversation among NAR, brokers and MLSs
The continued consolidation of MLSs
NAR’s focus on broker co-op
The vast differences in how MLSs are run
The challenges around a lack of data standardizationFactors that prevent a common data share
The brokers’ contribution to the technical barriers 
How a common MLS feed might affect membership
How members of the MLS Technology and Emerging Issues Advisory Board are selected

-Vetted by leadership
-‘Standard of experience’James’ concern regarding a lack of non-

REALTOR members NAR’s effort to bring in advisors/speakers from other industries to inform the advisory board

Why having your heart in the right place doesn’t mean you are a qualified decision-maker
The challenge of overcoming politics to engage in true industry collaborationNAR’s role in fostering cooperation
How CMLS is setting the standard of vendor-inclusiveness
Rob’s argument that the nonprofit mandate is the biggest issue hindering MLS progress
The pros and cons of raising MLS fees
The excessive fees vendors pay for access to IDX feeds
The benefits of MLS consolidation:

-Less overhead, more profitable for MLS
-Broker costs decrease
-Vendors can reinvest money saved

The painful loss of jobs that would result from MLS efficiency
James’ prediction that it will take outside forces to facilitate change
The value generated by a very small number of agents -Zillow market cap at 7.6B -80,000 agents

Sam’s take on the future of the real estate industry

-MLS will be part of equation (dependent on data)
-Fewer MLSs
-Realtor will remain at center of transaction

Greg’s A Few Good Men analogy
Rob’s theory about the future MLS breakdown
The top barriers to change: 

-Politics
-Lack of data standards

Sam and James’ advice to MLS execs moving forward

-Focus on broker priorities
-Be flexible, innovative in delivering
-Discuss pain points with vendors
-Work with other MLSs on same process

Resources:

Seattle Homes Group

NextHome

MLS 2020 Agenda

CMLS 2017

Connect with Rob and Greg:

 
Rob’s Website 

Greg’s Website 

Industry Relations 14: ‘MLS of Choice,’ Sam DeBord and Jeff Young of RPR

Hang around the hotel bar at CMLS2017 long enough (we’re looking at you, Greg), and you will overhear conspiracy theories about ‘MLS of Choice’ somehow leading to a national MLS. The MLS community has long feared that NAR is looking to get into the MLS business, and the rhetoric ‘of choice’ raises alarm bells in the industry. What is NAR’s intent in changing MLS Policy Statements 7.42 and 7.43? Could RPR eventually evolve into a national MLS?

Today Rob and Greg dig into the ‘MLS of Choice’ debate with Sam DeBord and Jeff Young. Sam is a member of the MLS Technology and Emerging Issues Advisory Board that revised 7.42 and 7.43, and he will serve as the Vice-Chairman of MLS Policy for NAR next year. He also serves as the managing broker for Seattle Homes Group and VP of Strategic Growth for Coldwell Banker Danforth. Sam writes for a number of real estate news outlets, and he was named to SP200’s Top 20 Social Influencers and Inman’s Top 101 in Real Estate.

Jeff Young is the Chief of Operations for Realtors Property Resource (RPR), an NAR resource providing comprehensive data, powerful analytics and client-friendly reports for each of NAR’s constituencies. Jeff has been a REALTOR since 1996, serving in various NAR leadership positions including President of the Michigan Association of Realtors in 2008. (In this live recording Jeff happen to walk by as the podcast was being recorded and coaxed in to participate.)

On this episode of Industry Relations, Greg, Rob, Sam and Jeff walk through the details of ‘MLS of Choice,’ discussing how the policy change will offer greater flexibility for brokers and agents in the MLS marketplace. They explore the MLS community’s skepticism around NAR’s intent, and whether there is any merit to the theory that this new policy might eventually lead to RPR becoming a national MLS. Listen in to understand the arguments for and against ‘MLS of Choice’–tin foil hat optional.

What’s Discussed: 

The broker pain points that led to changes in MLS Policy Statements 7.42 and 7.43
The role of the MLS Technology and Emerging Issues Advisory Board
The current jurisdictional rules around MLS dues
How ‘MLS of Choice’ provides greater flexibility for brokers/agents in MLS marketplaces
Why the previous policy was endorsed
The arguments for and against ‘MLS of Choice’
Sam’s response to industry fear of NAR establishing a national MLS
The rumors that RPR could become the national MLS
Jeff’s rebuttal concerning the rumors around RPR
– RPR contracts with MLSs prevent national MLS
– RPR depends on relationships with 661 of 694 current MLSs
The confusion around ‘MLS of Choice’ as a naming convention
The concept of which MLS not if MLS
How the policy change will adversely affect MLSs that don’t provide value
CMLS’s response to the ‘MLS of Choice’ policy change

Resources:

Sam at Coldwell Banker Danforth
Realtors Property Resource
‘MLS of Choice’ Article in Inman News

Connect with Rob and Greg:

Rob’s Website
Greg’s Website

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