Looking forward to seeing many of you at the T3 Summit this week. Looks like Stefan and company have put together another great event.
Katie and I arrive on Wednesday afternoon. Rob Hahn and I will be doing live recordings of our podcast “Industry Relations” so I hope to include a few of you in those conversations as well.
And remember what Tio Greg says, “Never go big on the first night!”
‘Defy mediocrity and deliver extraordinary experiences.’
Century 21 has been in business for the past 47 years, and in that time, the branding has remained virtually unchanged. When Nick Bailey took the reins, however, he moved quickly to rebrand the company in a way that reflects the consumer-driven movement in the industry, engenders multi-generational appeal, and inspires his global team to deliver extraordinary experiences.
Nick took on the role of CEO and President of Century 21 in August 2017, and he is responsible for the organization’s 8K offices and 118K independent contractors in 80 countries around the world. He has 21 years of experience in the industry, earning his real estate license at the age of 21. Nick served as the VP of Growth and Development at RE/MAX World Headquarters for 12 years and VP of Broker Relations for Zillow Group for five years. He is a leader in franchising, brokerage management and technology, and Nick is known for increasing margins while mitigating the impact of economic change.
Today Nick explains how his diverse background allows him to see issues through different lenses, including that of the consumer. He walks us through the Century 21 rebrand, discussing the company’s new motto around delivering extraordinary experiences and the positive response to its new brand identity. Nick speaks to Century 21’s reputation for training, his take on new models like iBuyers, and the consumer-driven movement in real estate. Listen in for Nick’s insight on the necessity for open network, mobile-first technology and the healthy competition between Century 21 and Realogy.
What’s Discussed:
How Nick’s diverse real estate background helps create clarity
The consumer-driven movement in the real estate industry
Nick’s insight on the core of Century 21’s business
-Help affiliates grow companies
-Help agents get closings
Century 21’s new motto around delivering extraordinary experiences
The positive response to Century 21’s new brand identity
-Cross-functional (mid-priced AND high-end)
-Multi-generational appeal
How a brand’s design impacts consumer trust
Century 21’s reputation for training and education
Nick’s take on new models like Redfin and iBuyers
How the process of finding buyers and sellers has evolved
The difference between home search and home shopper
How agents remain essential to consumers despite industry disruption
Nick’s preference for integrated, open network technology
The healthy competition between Realogy and Century 21
Century 21’s international presence
Connect with Nick Bailey:
There has been a shift lately. It’s happened over the past couple years and it’s starting to get a little ugly.
I believe the advent of “front end of choice” is amping things up. Here’s what I’m hearing from others in the industry and my own observations. I’ll break it down it to two parts.
Part I: Why should I help you?
As they say everything old is new again. The MLS industry is going through some changes. It reminds me of back when web-based MLS systems were starting to come out. The traditional MLS vendors freaked out as these new systems were installed “in parallel”. Same thing is happening now. But the 3rd party vendors today are a bit more brazen. Here’s an example.
MLS 2.0? Now, can you see why some current MLS vendors are hesitant to work with these companies?
A common rant is, “Why should I work with these guys when they are openly trying to put me out of business”?
You add that to tactics like employee poaching and product bashing and you can see how this could get out of hand. And full discloser my own company has been guilty of this to some degree.
These new companies are well funded, but NEED to get big fast. They have a certain amount of capital that won’t last long, so they NEED to be aggressive, otherwise they die. That puts a very different dynamic into the mix.
-MLS launches app, email goes out.
-All agents get phone call
-More emails…more phone calls
-Agent downloads an app, agent gets a phone call.
-More emails…more phone calls
-Agent touches a button, agents gets a phone call.
It can be relentless. All powered by state of the art software, auto-dialers and the latest in marketing automation.
Look I’m all for competition. I thrive on it. And many of these companies have really smart and talented people working for them. I also believe many of these same people want to improve the industry. But it’s still important to remember that we all have a symbiotic relation to each other. We all need to work together and play fair. Which brings me to part two.
Part II: Leveling the playing field (not that playing field)
The other shift I’m seeing is MLS providers giving special access to the MLS membership to select vendors. Most data access agreements coming from the MLS provider have language that states the 3rd party vendor cannot use the agent roster for marketing purposes or to create any derivative work form the MLS data. To me the membership roster was always “sanctum sanctorum“. It made sense that the MLS provider wanted to protect their membership and not show favor to any one vendor.
But lately this seems to have changed. It seems that because of special pricing or that the MLS provider now has equity in these new products they have let things slide.
I see a lot of emails (and get a lot of phone calls) that are obviously using the MLS roster. Hell, I just get a few of these calls and I’m afraid to pick up the phone! Sometimes these inquires come in the form of straight up spam (possibly on behalf of the vendor) from agents wanting me to activate my “X” account or crazy claims like fulfilling the promise of “100s of leads now”, or even “beating Zillow”. Here’s just few examples.
This also has existing MLS vendors scratching their heads. Is this special access? Is this type of marketing available for their tools? Or are these vendors going rouge and not ahering to their agreement with the MLS provider? Same questions come from many 3rd party vendors.
This seems to go against showing favor to one or more vendors. If so, how can others get this same level of access?
I’m fully aware that some might take this post as one vendor whining about another vendor. Or “talk about the pot calling the kettle black Robertson!” I get that. Again, I think competition is good thing but have always prided myself on following the rules and being a good “partner” and part of the community. But still, as I’ve stated, my company is far from blameless.
That being said the feeling I’m getting now is that the gloves are off. And sooner than later everyone will be protecting their turf. And that can lead to bigger problems.
As I said, many of these new companies are playing a different game, they NEED to be super aggressive. And that’s the worry. How do we strike this balance? And I think we need to look at the importance the MLS provider’s role in, dare I say, making the market work and vendors need to look at how their behavior can make positive change as well.
LeadingRE Announces Retirement of President/CEO Pam O’Connor
“O’Connor began her career in the promotion department of WSB Television in Atlanta and later co-owned Bryson-O’Connor Public Relations in Atlanta, but her professional focus has long been in the real estate industry. The first woman executive to head a major real estate network in 1985, her experience managing real estate and relocation organizations extends back 30 years to prior networks All Points Relocation Service and RELO®.
What an incredible legacy. Always found her to have a ton a class and smart as they come. Congrats on your well deserved retirement, Pam.
Update (9.23.16 at 9:45pm)
I’ve added the images of the slides and a video to this post.
I thought I would post my script from my “weekend update” session at CMLS 2016. Sorry for any typos…
“Hi, I’m Greg Robertson, and here’s your WEEKEND MLS UPDATE
1. Upstream announced today two key hires to help with implementation and operations.
Upstream CEO, Alex Lange in a statement said, “We think with the help of Penn & Teller we really might get this thing to work.”
2. Speaking of Upstream.
I have no real joke here, just the logo.
3. RPR announced today they found the one REALTOR using RPR to create reports.
It turned out to be the 2 year old son of Joe Lightman, a REALTOR in Spokane Washington, who had somehow managed to get at Daddy’s keyboard.
4. In other related AMP news, Marty Frame announced that in tandem with the release of AMP they will also launch a new API that will replace MLS executives.
In a statement, Mr. Frame said “It was actually a pretty easy thing to do, since no MLS execs follow business rules.”
5. This morning it was announced that Adrese Roundtree will replace Daniel Craig as the new James Bond.
It might be the only time in the film’s franchise history that the new Bond will get less ass than the actor that plays him.
6. Donald Trump threw his hat in the ring to be the next CEO of the national association of realtors.
In a statement Mr. Trump said that if he loses the general election this year, he will run to become NAR CEO.
When asked why he would like to take NAR’s top spot, Mr. Trump exclaimed “I thought the salary was fantastic!”
7. Right on the heels of Zillow’s announcement that Diverse Solutions would be sold to MarketLeader, Zillow today announced it would also be selling DotLoop to Market Leader as well.
No money was exchanged, Zillow said in a statement that the only terms of the deal was that Market Leader had to take Austin Alision and his Twitter account with him.
8. Hey did you hear that thanks to the MLS industry the people at Oxford Dictionaries announced earlier this week that they have added a new phrase?
In 2017 “Industry Relations” will be added to the Oxford Dictionary
9. CMLS CEO, Denee Evans, today announced another major partnership. This is right after CMLS announced a deal with NAR.
The Prince of Darkness. That’s right, the devil himself. Because, at this point, what’s the difference?
10. Also, after the stunning success of showing a video of alcoholics in recovery at the CMLS Gala Wednesday night CMLS announced that next year they will be adding videos showing lap band surgery and the dangers of STDs.
This way nobody will want to drink, eat or fuck at a CMLS conference ever again.
11. Hey, did you hear about the minor crisis at the SW Steakhouse at the Wynn last night?
From what I hear the famed steakhouse ran out of Silver Oak! But don’t worry the HAR staff was quickly relocated to Nobu across the street where the evening when on as planned.
12. Matrix today announced that they have changed the name of their new MLS software product.
Formally known as Matrix 360, they have changed the name to Matrix 2060 to correlate with their new release date.
13. Anyone have any idea of what this number means?
This is how many days its been since the realty alliance said the MLS industry had 10 days left.
Thank for everyone being such a good sport. Good night and have a pleasant tomorrow!
Also Freddy Sarabia (who also shot a video of my MLS Rap earlier this year) was in the audience and got a lot of my session on video. Enjoy!
“Susan Young has been a fixture in the industry for more than 16 years, most recently serving as Director of Industry Relations at Realtor.com® for 10 years. Prior to that Susan served the industry as a Realtor®, Sales Manager, and CEO of a regional MLS in Ohio.
Susan stated, “I’m very excited to join the team at Real Safe Agent©. I have so many dear friends in this industry, and have seen the impact crime has on our community. Knowing that Real Safe Agent can prevent crime and the industry finally has an answer, joining the team feels more like a mission than a career move.”
Congrats to Susan and Lee!
Speaking of Zillow, looks like the old Tarasoft team is getting back together.
Bill Andrews – Director of MLS & Industry Relations at Zillow Group Inc.
I guess you gotta fight, for your right, to party.
In an email titled “An update on our event policy…” a representative from Inman News laid down some stringent policy changes regarding its event policy in relation to “unsanctioned parties”.
“In a few short months, nearly 4,000 industry professionals will gather in sunny San Francisco for Inman Connect. Each year, companies host dozens of parties and events that surround the conference, taking advantage of having the best of the industry in one place.
We’ve introduced a special sponsorship level for companies who host satellite events at Connect for 30+ people that provides additional visibility to attendees and influencers they hope to connect with, while ensuring that the Connect attendee experience isn’t compromised.
Due to the negative impact that unsanctioned parties have on the conference, we have implemented a more stringent event policy for companies who choose to host events at and around Inman Connect without directly participating in the conference as a sponsor. The policy will be strictly enforced and violations will result in revocation of attendee badges, speaker spots and other sanctions at the sole discretion of Inman.
Emphasis mine.
I would argue that instead of being a “negative impact” or having the event being “compromised” the amount of industry parties being held around the conference is a huge draw.
No doubt Brad and his team have done a great job in putting together a great show, but threats of revoking badges and speaker slots is pretty draconian by any standard. How is having a party any different than having a meeting in the lobby with someone? What’s next? Do they shut down the lobby bar or Starbucks in order to get more people in to the sessions?
I sincerely hope Inman News reconsiders this policy before Inman Connect in San Francisco.
“Dear Industry Friends,
I hope this note finds you well!
I have enjoyed working with many of you as Senior Vice President of Industry Relations for Move, Inc., operator of realtor.com. I am writing to let you know of my pending transition.
I joined Move with the intention of influencing the direction and strategy of realtor.com. Although I am very proud of our team’s accomplishments and have enjoyed furthering my relationships with you, my role at Move has not evolved as I had hoped. For that reason, I have decided to leave Move and my last day will be September 30. Our parting is friendly and I will continue supporting the many good things that realtor.com has accomplished under its new ownership.
I remain committed to our great industry and still have a strong desire to make valuable contributions during this period of significant change. I will be evaluating opportunities to do so over the coming months.
I have enjoyed working with you and look forward to continuing our relationships. I hope to see you at the NAR meetings in San Diego, if not sooner.
-Russ
Somehow I get the feeling that working for a Rupert Murdoch company isn’t that fun.
Andy Woolley Named Vice President of Industry Development of Homes.com®
“Homes.com is committed to providing consumers with the best possible search experience by offering the most accurate and timely data available, combined with being a ‘friend to the industry’ by positioning the listing agent as a critical part of the consumer inquiry,” said Dave Mele, president of Homes.com. “Andy brings a wealth of experience to a critical area of our business as we focus on strengthening and expanding our partnerships throughout the country to help agents, brokers and MLSs grow their businesses.”
