I heard the news in the air, while flying in to DCA. UpstreamRE had “pivoted”. Instead of brokers entering listings in what UpstreamRE CEO, Alex Lange described as a “Google Drive” in the cloud they could now enter their listing data through their MLS.
I sent out a quick tweet.
Are they going to change the name now?
— Greg Robertson (@gregrobertson) May 16, 2017
2 years and
12 6 million dollars later, the brokers had finally listened to what MLS executives have been saying all along. Use the MLS stupid!
When I landed the texts and calls came in about how Alex Lange presented the news at CMLS’ “Brings it to the Table” event.
Alex was there, along with Dan Elsea. Alex announced they had pivoted. He described that brokers could enter data via the MLS first, and allow UpstreamRE to receive those listings from the MLS.
After all the hubris from UpstreamRE, I can only imagine the mental energy it took to stop the collective eye roll of every attendee in the room. But this party was just getting started.
When Alex was pressed on why the “pivot” he made a statement that a big reason was MLS vendors had been uncooperative. At this point Michael Wurzer, CEO of FBS and a CMLS board member called bullshit. He described FBS’s interaction with the project, which contradicted Alex’s previous statement. To which Alex said it wasn’t really FBS and then proceeded to throw CoreLogic under the bus. Stay classy Alex, stay classy.
And then the shit show continued. Tim Dain stood up and asked Alex if the rumors were true that RPR had sent a team of developers to Portland to get a working demo of the system, and that the demos they were touting at the Midyear meetings were not a “beta” or “up and running” or really even “live” as they were being promoted thus far, but more of a “proof of concept”. To which Alex, handed the microphone to Portland RMLS CEO, Kurt von Wasmuth. To which Kurt confirmed everything Tim suggested. Oy Vey!
Also, is “pivot” even the right word?
I was chatting with Matt Cohen a bit and he thought that their use of the word “pivot” was really a poor choice. Here’s Matt…
Upstream has FINALLY realized that being “Upstream” – creating and implementing the technology / integrations – will take quite a long time. It’s still their goal to be upstream but they need to start getting users and generating revenue. That means, providing the “control” value of syndication next year, which requires MLS data – so, in the short/medium/medium-long term, they will need to accept listing data from MLSs. I don’t see that the long term goal has changed or their long term high-level strategy (no pivot) but in the short term there’s just an intermediate step on the way to their goal. To use examples of real pivots: Odeo was about finding and subscribing podcasts before pivoting into micro-blogging as Twitter. That’s a pivot to an entirely different end-product with no plan to ever return to a podcast business. Confinity was about beaming payments from a PDA before it pivoted into online payments as Paypal. That’s another pivot into an entirely different space. Again, I see Upstream not yet changing their end goal – just adding a step in how to get there
Then Saturday happen. The N.A.R. approved an additional $9 million to project Upstream and Dale Stinton, the current CEO of the N.A.R. started pointing fingers and made some inflammatory statements toward MLSs and MLS Vendors. Don’t they realize that if they ever want to accomplish this project they are going to need the cooperation from the the same guys they are throwing under the bus? Good luck with that!
Can’t we all just get along?
I get it. Everything can get heated. Hell, the original title to this blog post was “SHITSTREAM”. So beyond my snarkiness I really do think there might be a positive side to this whole fiasco. When Craig Cheatham announced at the CMLS Conference in Boise that the MLS industry had “10 days” before they would feel the wrath of their brokers it really did wake up the industry.
Since then things have changed a lot. NAR core standards initiatives have contributed to less associations, Bright MLS kicked off a wave of consolidation the industry has never seen before. And data standards are gaining more momentum.
In a sense the brokers are getting what they wanted. They won.
But I think this progress has been stifled by hubris of Upstream, and now the N.A.R.’s stance that the MLS industry is a “cartel” and must be stopped.
We all need to press the reset button, and move forward.
For as long as I can remember one the most effective “call to action” in real estate has been the venerable…
“What’s My Home Worth?”
You can find this messaging on all manners of of real estate media. Some products do it better, than others. Hell, the reason we are even talking about Zillow is the “Zestimate”, which is the personification of that call to action.
But it turns out the Zestimate was really more geared towards Buyers (and voyeurs). But it’s a Sellers market. So what’s a Zillow supposed to do if it wants to drive Seller leads?
Enter, Zillow’s “Instant Offers“. Or what I’m calling a “Zoffer“. Which gives the value proposition,
“I can sell your home in one week!”
Zillow is testing this in 2 markets, Orlando and Las Vegas. And the entire industry is collectively losing its shit. Check out the comments on Inman’s post, Zillow launches ‘Instant Offers’ pilot program for homesellers, to get a taste.
I think its a ballsy move driven by a real need to generate seller leads for it Premier Agents, but also as a counter to all the hype surrounding Opendoor. Zillow wants to show Wall Street its got its sexy back.
I think its too early to tell. But I’m super curious to see if it works. And if any of those agents need a good CMA, I know where you can find one.
I had a chance to sit down with Mike Wurzer again at NAR Midyear to discuss the recent announcement about Upstream, well, not really being “upstream” anymore. This was recorded before NAR announced the details to their additional funding. More on that in a later blog post.
The first step of problem-solving is to assign blame. Right?
That seems to be part of Upstream’s tactics in explaining their delayed progress at NAR’s May Legislative Meeting in DC. They succeeded in raising the heartrate of today’s guest – by implying that a lack of cooperation from vendors is to blame for the snail’s pace of the project. Upstream also made a big announcement regarding what they term as a pivot, but may be more appropriately called a 180.
Michael Wurzer is the President and CEO of FBS, an employee-owned company committed to exceeding customer expectations. Their signature product, Flexmls, is a standards-driven technology platform connecting real estate professionals to their customers with collaboration tools that deliver timely and accurate information. FBS products serve 185 organizations and 2,000-plus agents in the real estate sector.
Under Wurzer’s leadership for the past 20 years, FBS has worked to constantly evolve and embrace change. They were among the first to build a web-based system, striking a balance between the stability of being an established company and creating a culture of innovation. Today he examines the Upstream pivot in detail, discussing how the Upstream messaging has evolved over time, the pain points the initiative was working to address, and the need to foster collaboration among industry players.
The major players in the Upstream initiative
How the Upstream messaging has evolved over time
The major Upstream pivot announced at NAR’s Legislative Meetings
How the pivot was influenced by feedback from experienced MLS professionals
Greg’s take on the fundamental change in premise of the Upstream initiative
The pain points the Upstream project was working to address
– Ability to sync listings
– Integration with third party products
The buy-in for Upstream from big brands
Upstream’s explanation for its delayed progress
The need to foster collaboration among industry players rather than assigning blame
– All focused on solving broker problems
The CMLS campaign to highlight the value of the MLS
The controversy over RPR’s team of developers
The confusion re: the meaning of a ‘live demo’
The ability to enter a listing from third-party system as a RESO objective
The evolution of technology in the real estate software space
– ‘We’re building the airplane as we’re flying it’
Success stories in MLS system consolidation
The beauty of competition in shaping market dynamics
Zillow’s next steps in light of the Upstream pivot
The need for clarity of communication re: syndication
What the Upstream pivot means for AMP
Wurzer’s prediction of what’s next in real estate tech innovation
Upstream as ‘another option’ rather than a revolution
Connect with Michael Wurzer:
Inman News’ Teke Wiggin on Placester’s new offering.
“The National Association of Realtors is offering free property search websites to all members as part of a new deal with real estate software provider Placester.
The partnership makes it possible for all Realtors “to build an online presence they can control,” said CEO Matt Barba in a statement. And it could fuel Placester’s efforts to build a massive user base that could be receptive to buying upgrades.
A previous deal between the trade group and Placester made basic versions of Placester sites available to Realtors for $5 a month. Under the new deal, the two are offering Placester websites for no charge.
The free mobile-friendly websites come with features including IDX [Internet Data Exchange] listing integration, “global listings search,” homepage with slideshow, mortgage calculator, social media share buttons and editable listing search, about and testimonial pages.”
This is exactly why I’ve never had a desire to enter the agent website business, it’s a race to the bottom.
But it looks like it’s not “free” in all markets.
“For 60 of the 600 multiple listing services covered by the product, agents must pay a surcharge to activate IDX-powered property search.”
I wonder how many agents do those MLSs cover? Also, it’s well known that less than 90 MLS providers contain about 90% of the all the active listings available. So it will be interesting to see how “massive” their user base grows.
I written about this before but my take on these freemium models is the the TAM (total available market) isn’t large enough.
I do think this is a big win for N.A.R. members. But if you read the comments in Inman’s article you’ll see that agents are keen to look a gift horse in the mouth. Sheesh!
The Long Island Board of REALTORS® and the Buffalo Niagara Association of REALTORS® are joining the growing list of libor_logoMultiple Listing Services and REALTOR® associations deploying the Real Safe Agent system, which includes the Northern Ohio Regional Multiple Listing Service and the Fort Smith Board of REALTORS®. “Staying safe means preventing a crime, not reacting to one. So, when I presented the Real Safe Agent system to my BOARD, we knew we needed to purchase the system for our members”, stated Dave Legaz, President of LIBOR. “As a former NYPD Sergeant, it’s clear to me that Real Safe Agent understands both REALTOR® and criminals; and allows the agents to prevent a crime without jeopardizing a sale.”
Good to see Lee and Susan making progress on this. Also check out this post about The Beverly Carter Foundation.
Brenda has served in the real estate industry for over 25 years starting as an MLS Director in Clearwater, Florida. She has held
positions with Interealty (now part of CoreLogic), Realist, and Coldwell Banker Residential. Brenda was responsible for managing
MLS system installations, sales and member support, as well as developing and implementing Broker-based solutions.
Brenda was part of the realtor.com® Industry Relations Team from 2009-2015 as Director of Industry Relations, providing support to Associations/MLSs in the Southeast.
Congrats to RealtyWEB.net and Brenda!
LIVE from RESO Spring Conference 2017
Henry Ford is credited with saying, ‘If I had asked people what they wanted, they would have said faster horses.’ True innovation provides you with the tools you didn’t even know you needed. Today’s guest understands the challenges of the real estate industry, and he created a platform that provides a unique solution tailored to the work we do. A solution that will make you wonder how you ever did without!
Tyler Gordon is the CEO and Founder of Agent Inbox, an all-in-one communications platform that empowers MLSs to launch a market-wide platform that allows every agent to communicate with every other agent about any listing, from any device, within any product. Agent Inbox seeks to build the messaging infrastructure so that everyone involved in the real estate transaction (including vendors) can effectively communicate via one system.
After graduating from the University of Florida with a degree in finance, Gordon went to work for Grooveshark, an on-demand streaming music service, where he built their data products and market research team, boasting a research panel of over 300,000 participants. From there, he joined the family business, a real estate brokerage in south Florida. Realizing just how difficult it was to be a real estate agent, Gordon set out to solve some of the problems he encountered – and Agent Inbox was born. Today, Gordon explains the nuts and bolts of Agent Inbox, sharing how the tool works with any app under the MLS umbrella. Listen and learn the benefits of a single communication system that connects all the stakeholders involved in the real estate transaction!
The shift in how people communicate
– Agents have migrated away from phone/email
The idea behind Agent Inbox
– Create market-wide messaging platform
– Every agent can communicate with every other agent
The installation of Agent Inbox
– Integrated directly into MLS link
– App is available to download, but not necessary to use the service
How to access Agent Inbox
How the Agent Inbox infrastructure might be used to include other industry stakeholders
The benefits of Agent Inbox
– Sits on top of any product in MLS
– Allows for live, contextual conversation
How Agent Inbox was conceived
The trend toward specialized products
Where Agent Inbox is already up and running
The user-friendly nature of Agent Inbox
The benefits of messaging (vs. email)
– 99% of people open, 95% respond
– Socially acceptable to wait several days before responding to email
Connect with Tyler Gordon:
Email: tyler [at] agentinbox [dot] [com]
“Talk about a dream. Try and make it real” – Bruce Springsteen, Badlands.
“It’s not hard to see why Goldberg would be an obvious choice.”
Agreed. This post on Inman goes on in detail about Bob’s many accomplishments since joining NAR in 1995. It’s beyond impressive, I had no idea about half of them. Simply put Bob is a guy that gets things done. Period.
I’ve heard many rumors about who is in the running. But in my opinion I cannot think of anyone else who is more qualified for this position. But, just because, lets break down a few of the biggest arguments.
“NAR needs NEW leadership, not more of the same.”
Bullshit. Just because a person works for the CEO, doesn’t mean he that when he/she becomes the new CEO he/she is going to lead the same way. Also, when did experience become a liability? Or loyalty? By electing someone outside the industry in franchise/finance/whatever industry (oh please NOT someone from the banking/finance world GROSS!) would be as stupid as appointing a brain surgeon to run HUD.
“Most REALTORS are women, so the new CEO needs to be a women.”
The new CEO for NAR should be the best person for the job.
“We need a big name to lead us”
A celebrity? How’s that working out America?
Back in the day while working at eNeighborhoods, we were a “REALTOR VIP partner”, which is now “REALTORS Benefits”. Over the years, we got to spend a lot of time with Bob, his staff and family. I got to know him and them pretty well. He’s the real deal. Smart, honest, and sincere. He has a great sense of humor, a good boss, and a loving father. He’s got a deep knowledge and passion for the industry. In short, he’s a leader.
“This merger combines the MLS and the Associations of Ft. Lauderdale and the Realtors® Association of the Palm Beaches and covers a four county region along the east coast of Florida stretching north from Miami.
The cornerstone of this consolidation is a result of the hard work of the staff and the volunteer leadership. The forward thinking leadership of the board presidents along with the capable and progressive attitudes of CEOs Dionna Hall and Rick Barkett pulled this merger together. Mr. Barkett will be retiring at the end of the year, culminating the career of one of our industry’s greatest CEOs. Hall will helm the new organization.”
I wanted to make a few comments on this last week but never got the chance. So here it goes.
Kudos to both of these associations for making this happen. I can’t imagine how tough it was putting together. And a huge congratulations to Dionna Hall on her new position. And a fond farewell to Rick Barkett.
Then there’s this..
“The new company will be offering an MLS service that covers the four county area with a front end website of choice using either FBS Flex MLS (current vendor for Palm Beaches) or CoreLogic Matrix (current vendor for Fort Lauderdale).”
I think this is a good idea, but still wonder how it will all work out. And I assume there are a myriad of vendor agreements to sort out. I’m beginning to see this “front end of choice”, where the whole MLS system is available, model in other places (CRMLS, MLSListings) but none have gone live yet. In the later case the MLS vendors are only paid on what system is being used. I worry the the total available market (TAM) might not sustain this, but who knows. One thing is for sure, new business models are beginning to emerge due to this new wave of consolidation.
Sam DeBord in a recent Facebook post really brought it home to me on how long the MLS industry has been at this.
“As we head to D.C. for NAR midyear meetings, the MLS seems to be crossing the tipping point toward an open service model. Worth your time:
11 yrs ago via Bright MLS’s David Charron (h/t Saul & John at RealTown & the irreplaceable Judith Lindenau): https://www.realtown.com/Judith2/blog/disorder
“Human and political factors can hinder the transmission of (MLS) content as much as technical factors. … this biggest and most powerful tool is not technology, it’s OUR attitude. Now is the perfect time for all of us as MLS executives to work together with the same sense of cooperation that defines the very industry, indeed the very customers we serve.”
11 years ago.