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May 25 19

Real Estate Developer Exposes Massive First American Financial Data Leak

by Greg Robertson

First American Financial Corp. Leaked Hundreds of Millions of Title Insurance Records

“Earlier this week, KrebsOnSecurity was contacted by a real estate developer in Washington state who said he’d had little luck getting a response from the company about what he found, which was that a portion of its Web site (firstam.com) was leaking tens if not hundreds of millions of records. He said anyone who knew the URL for a valid document at the Web site could view other documents just by modifying a single digit in the link.”

UNFKNBLVBL

May 22 19

Listing Bits Episode 46: A Broker-Owner’s Approach to Leading the MLS with Gene Millman of NNRMLS

by Greg Robertson

Rather than trying to predict the future of real estate and act accordingly, Gene Millman is working to collaborate with brokerages to create the future together. He comes to MLS leadership from a unique perspective, leveraging his experience running a brokerage to find ways to say YES to his members and champion the industry as a whole.

Gene is the CEO of Northern Nevada Regional MLS. With 32 years of experience in the real estate industry, he served as an agent, broker-manager and broker-owner before making the transition to MLS executive. Greg has held key leadership roles with various local, regional and state associations, and his recognitions and honors include Realtor of the Year for the Delaware Association of Realtors and Hall of Fame Inductee at the New Castle County Board of Realtors.  

Today, Gene explains how serving on the board at TREND introduced him to the MLS world and how working on consolidation ignited his passion for the space. He introduces us to his mission to partner with brokers and create a future together. Gene also offers his predictions around the potential iBuyer market share and shares his take on portals as a broker versus MLS exec. Listen in for insight on creating culture within a team and securing buy-in for your vision—and learn how Gene’s background as a broker influences his approach to running an MLS.

What’s Discussed: 

How serving at TREND introduced Gene to the MLS world

How MLS consolidation ignited Gene’s passion for the space

The differences among governance models from MLS to MLS 

Gene’s approach to running the MLS to serve the brokers

Why Gene doesn’t believe that the MLS is under threat 

The MLS’s responsibility to secure data, give brokers control

Gene’s aim to partner with brokers + create a future together

How a market correction may impact views toward the MLS

Gene’s take on portals as a broker-owner vs. MLS executive

Gene’s predictions around the potential iBuyer market share

The value in creating culture + getting buy-in for your vision

Resources:

T3 Summit

TREND MLS

Connect with Gene:

Northern Nevada Regional MLS

Gene on LinkedIn

Where to listen:

Listing Bits is also available on Apple iTunes or Google Play


May 22 19

Rumor: Realtor.com lets go entire Scottsdale sales team. Other layoffs to follow.

by Greg Robertson

Can anyone confirm this? Looks like their OpCity acquisition might be taking primary focus.

Developing….

UPDATE: Inman News has more details. Realtor.com Lays Off Arizona Sales Team, consolidates in California.

May 22 19

DOJ, CID and MLS

by Greg Robertson

The Department of Justice Demands CoreLogic Turn Over Documents and Answer Questions

“Anyhow, we move on to the Schedule to see what the DOJ wants CoreLogic to produce. I won’t quote the entire wall of text, since you can read the CID yourself above. But it seems pretty clear what the DOJ is after, isn’t it?
The first major area is whether MLS members can search for properties based on amount or type of cooperating commission offered. The DOJ seems very interested in whether MLS subscribers can search by commission amount, or type, and if not, why not. The DOJ wants every email or letter between CoreLogic and its customer MLSs that pertain to how much a member can and cannot search by commission amount or type.”

Rob Hahn

I think Rob does a better job than I could of breaking down the CID (he also has a copy of the report to read).

It’s hard for me to decide if this and the Moehrl v. NAR lawsuit are actually going to amount to anything. I’ve been in this business for close to 27 years and I’ve seen lawsuits come and go. The industry just adapts.

May 21 19

Vendor Spotlight: Zvi Band’s (CEO of Contactually) new book, “SUCCESS is in your SPHERE” is now available

by Greg Robertson

Writing a book is something I’ve always aspired to and it’s great inspiration to see someone you know accomplish this incredible feat.

As I previously posted Zvi Band, CEO of Contactually, which was just recently acquired by COMPASS, wrote a book, “SUCCESS is in your SPHERE”. That book is now available to order today.

Zvi spent the last 8 years building a CRM company, and before that built a successful consulting career by focusing on relationships. I interviewed him on my podcast Listing Bits early last year. So I can’t think of a better person to put down in words how cultivating relationships can help you achieve success.

I’m anxious to read this book, as I think any vendor or person who values relationships in their business. Congrats to Zvi, I hope you sell a million of them!


May 20 19

David Charron enter RISMedia’s Newsmakers Hall of Fame

by Greg Robertson

This Just In: RISMedia Celebrates Newsmakers in Washington

Against the backdrop of the National Press Club—”The Place Where News Happens”—RISMedia applauded the more than 230 Newsmakers recognized this year, as well as 10 Hall of Fame inductees. The Class of Newsmakers is comprised of Achievers, Crusaders, Futurists, Influencers, Inspirations, Luminaries, Trailblazers and Trendsetters, each of which were spotlighted on stage.

RISMedia

My warmest congratulationt to David Charron. I didn’t know he had any shelf or wall space left!

May 15 19

Industry Relations Episode 34: T3, GFK & the Unveiling of Redfin Direct

by Greg Robertson

Rob and Greg have often said that Redfin is the most important tech-centric brokerage that no one is talking about. Well, that is about to change with the company’s unveiling of Redfin Direct, a service allowing consumers to buy properties without representation. What’s behind Glenn Kelman’s move to give customers another ‘layer of choice’? And how might the real estate industry respond?

Today, Rob and Greg are discussing the big players who spoke at the T3 Summit, from Rich Barton to Gary Keller to John Peyton. They describe the pervasive nature of brokerages talking strategically about competing with iBuyers and tech as well as the buzz around Art Carter’s call for a new type of organizational structure around the MLS. 

Greg speaks to the way ‘GFK’ won the room at T3 with his humor and authenticity, and Rob asks about the impetus behind Redfin Direct and how the industry might respond. Listen in for insight around how the program puts Redfin on the radar in a way it hasn’t been before and learn how Redfin Direct might work in conjunction with Redfin Now and the brokerage’s title and mortgage programs.

Program Note: This was recorded before RE/MAX and Redfin announced they had dissolved their partnership

What’s Discussed: 

Greg’s insight on the big players who spoke at the T3 Summit

Art Carter’s call for a new type of MLS organizational structure 

The pervasive nature of brokerages addressing iBuyers + tech

How Glenn Kelman ‘won the room’ with his authenticity at T3

The stark contrast between Redfin and Compass’ mission

Greg’s take on Redfin Direct + the potential industry response

The impetus behind Redfin Direct and how it was announced

How Redfin Direct supports its title + mortgage programs

How Redfin Direct puts the company on the industry’s radar

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Resources:

Mike Simonsen, Rob Hahn & Gahlord Dewald Talk Millennials

The T3 Summit

Redfin’s Q1 Earnings Release

Glenn Kelman on Listing Bits EP045

Bill Wendel on Twitter

‘Redfin Direct Offers’ on Bubble Info

Greg’s Blog on Redfin Direct

Andrea Riquier’s Interview with Rob on MarketWatch

Our Sponsors:

Cloud MLX

The Red Dot

May 15 19

RE/MAX and Redfin end partnership

by Greg Robertson

“That program goes against every value RE/MAX has had for more than 45 years,” Contos said in the letter announcing the end of the partnership. “I feel very strongly and passionately about that, as does our Board of Directors and my leadership team.”


Redfin itself, however, said it would still employ buyers’ agents and had no plans to cut them out of deals.

“Redfin understands this concern, as we employ thousands of licensed professionals and believe the vast majority of homebuyers need professional advice, and will happily pay for it,” the company said in a statement, announcing the end of the partnership.


“But we also have a duty to get as many offers for our customers’ listings as we possibly can, and to give those listing customers the best value,” the statement continues. “We believe in consumer choices; our mission is to redefine real estate in consumers’ favor.”

It seemed improbable from the start. Adam Contos, an ex law enforcement officer now turned CEO (who, I am told, like many former law enforcement officers still carries a gun day to day) and Glenn Kelman, a University of California Berkeley grad who proudly flies his “freak flag”.

When I first heard about the partnership I thought it was incredible. In a increasingly divided world these two companies found a way to work together, to leverage each other strengths. In my recent interview with Glenn Kelman, CEO of Redfin his praise of RE/MAX agents came through loud and clear.

What a shame. There was so much potential in this partnership. Both companies took a chance. But, in the end both companies stood firm on their respective missions.

Respect.

May 14 19

MetroList adds Remine

by Greg Robertson

MetroList®selects Remine for its Data Analytics and Front End of Choice for its 20,000 Subscribers

“We have been watching Remine’s evolution as a lead gen company to what has become a single platform combining consumer and property data intelligence, specifically for real estate professionals,” said Bill Miller, CEO of MetroList Services, Inc


Nice deal for Remine. MetroList is a great organization that does its homework. This deal follows MFRMLS and three other MLS organizations signing up for the “Pro” version of their products. Rollin’…rollin’…rollin’

May 13 19

Registration now open: Boost – The MLS Staff Summit

by Greg Robertson

REGISTRATION IS NOW OPEN!

W+R Studios is hosting another Boost -The MLS Staff Summit, August 14-16. Last year’s event was a huge success, so this year we are increasing the amount of people able to attend.

Join the crew at W+R Studios for 2 days of intensive Cloud Agent Suite learning, networking, and training on how to Boost your MLS career. We’ll take care of room and board so get your ticket and yourself to Huntington Beach and we’ll handle the rest!


Boost is hosted by W+R Studios, the creative team behind Cloud CMA and we believe in working hard and having fun. 

This event isn’t for CEO or leadership, but for those in the trenches working with agents in the training and support departments of MLS organizations.

We prioritized tickets for previous attendees so there are a limited amount left. Don’t delay, order your tickets today by visiting this website -> Boost: MLS Staff Summit