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Feb 14 20

Happy Valentine’s Day from W+R Studios

by Greg Robertson

Anybody get any candy this year? #video

Feb 14 20

Listing Bits Episode 55: Getting People in Homes with Down Payment Assistance – with Rob Chrane

by Greg Robertson

According to research conducted by Freddie Mac, there are 83 million mortgage-ready renters in the US! But most grossly overestimate how much they need for a down payment and very few know about the low down payment programs available to low and moderate-income home buyers. How much could a real estate business grow simply by making down payment assistance part of its business development strategy?

Rob Chrane is the CEO of Down Payment Resource, a platform that aggregates down payment assistance program data and connects homebuyers with down payment assistance. Rob has more than 30 years of experience as a top-producing Realtor and mortgage broker, and he has been recognized as a HousingWire Vanguard for his leadership in the housing economy.

One thing I love that Rob does is the “Beverly Faull Affordable Housing Leadership Award”. This year it went to Tonya Todd.

“The award, named in memory of accomplished real estate veteran Beverly Faull, recognizes an individual who has demonstrated leadership in providing more access to homeownership and affordable housing finance solutions. Faull was a well-respected veteran in the MLS and housing industry and one of Down Payment Resource’s first employees.”

I used to work with Bev and I know many of you knew her as well, and I think this is such a great tribute.

On this episode of Listing Bits, Rob discusses who down payment assistance is designed to help and why some agents and lenders are reluctant to incorporate these programs into their workflow. We also discuss the evolution of Proptech as well as the pros and cons of the fractional ownership model. Listen in for insight around how Down Payment Resource shares its data with MLSs, lending companies, and individual agents and LOs—and learn about the massive opportunity available to real estate players with access to down payment assistance tools.

What’s Discussed: 

How Rob connects homebuyers with down payment assistance

What inspired Rob to create Down Payment Resource

Who down payment assistance programs are designed to help

Why agents and lenders are reluctant to use these programs

How Down Payment Resource gets its data to industry players

  1. MLSs and Associations
  2. Enterprise solutions for lenders
  3. Down Payment Connect (individual agents, LOs)

How Down Payment Resource makes money via a subscription model

How Rob thinks about the Proptech fractional ownership model 

How DPR’s data shows up for MLS clients vs. individual agents

Resources:

Urban Land Institute

Freddie Mac Housing & Economic Research

Cloud CMA

MGIC

Divvy

Shelley Specchio

Connect with Rob:

Down Payment Resource

Down Payment Connect

Feb 13 20

Remine to launch add-edit tool

by Greg Robertson

Remine add-edit tool to allow Texas brokers to push listings to MLS

The deal means NTREIS subscribers can either continue to use the MLS’s current CoreLogic Matrix system for listing management or can alternatively use Remine’s add-edit tool. NTREIS’s back-end system remains Matrix.

“This offers an opportunity for agents to upload a listing using a different module. Think of it as front end of choice,” NTREIS CEO John Holley told Inman in a phone interview.

Additionally, “a broker that has a back-end system will be able to use that back-end system to load a listing” and push it to Remine’s add-edit tool to push it to the MLS, he added, noting that agents would prefer not to have to switch between systems and stay in their broker’s back-end system. “That is the goal.”

Whoa. I would love to see this in action. Is it possible that Remine beat Upstream to the punch?

Feb 13 20

New Realist launches touting upgraded modern tech stack and “Sell Score”

by Greg Robertson

Corelogic: Launches Next-Gen Realist

“Powered by a combination of proprietary, public record, and multiple listing data, the new Realist adds several functions to its extensive feature set, including a new ‘Sell Score’ that uses CoreLogic analytics to determine the relative likelihood that a property will be listed for sale in the next six months. Real estate agents can use the Sell Score to identify and market to owners who are more motivated to sell their home. Realist covers 99.9% of all U.S. property records across more than 3,100 counties, with access to over 500 million historical transactions and tax payment history for 145 million proper”

There are lots of products out there now that “predict” the likelihood a property will be “listed to sell in the next X months”. It would be interesting to compare the same neighborhood with each product and see if there are any differences in predictions. Is it science, luck or a combination of both? Other factors to evaluate each product would be UI/UX, complementary feature sets, and of course, data.

Some of these solutions and products like Revaluate, use AI to look for life events that cause people to move such as “the 8 Ds”: Death, Divorce, Diapers, Diamonds, Diplomas, Discrentrionary Income and The Daily Grind, and Dumpsters rather than/along with MLS data.

But the biggest advantage I see with Realist is MLS integration (within Matrix accounts). The adoption struggle is real.

The counter to all this technology is simply the hard-working agent focused on their farm.

As the old saying goes, “The harder I work, the luckier I get.”

Feb 12 20

What is homeownership?

by Greg Robertson

I think my friends in organized real estate have to start paying attention to how companies are evolving the definition of “homeownership”. Below is a video of a presentation given by Adena Hefts, CEO of Divvy Homes at an event held by Andreessen Horowitz.

“We believe the industry is very binary. You either rent a home, or dive in to the deep end and get a mortgage. There is no in-between.”

Adena Hefts, CEO of Divvy Homes

If you have been listening to my podcast Listing Bits you know I’ve been tracking Divvy Homes and Adena for a while now and am super intrigued.

Feb 10 20

Vendor Cage Match: Homesnap goes after Remine with new predictive analytics features

by Greg Robertson
Who you got?

The off-market/public records game is heating up!

Homesnap’s new platform guesses when people will move

“The platform uses an algorithm that crunches millions of records, including MLS data, to come up with a “Likelihood to List” score. The service, available only to licensed agents, shows a “heat map” of neighborhoods color-coded to zero in on the homes most likely to go on the market.
“Instead of sending a postcard to 5,000 homes, real estate agents can just focus in on the people the algorithm has determined are the most likely to list their homes,” Lou Mintzer, Homesnap’s chief product officer.”

Things could get awkward for both these D.C. area-based companies if they frequent the same restaurants.

New Homesnap Pro
Remine

Remine has been on a bit of a hiring spree lately. Joe Kazzoun and Bill Andrews were hired back in October of last year. Recently they also hired Quinn Nichols, formerly of MARIS, Troy Feeken, formerly of FBS, and Chelsea Goyer, formerly of Redfin. That’s going add a lot to their burn-rate.

Meanwhile, the O.G. in the game, CoreLogic, is not sitting still. CoreLogic has been recently touting a brand-new Realist “re-imagined from the ground up “. This space is heating up quickly, it will be interesting to see what they come up with.

In an article posted on Inman News today, Homesnap CEO John Mazur calls this new Off-Market Marketplace their “crown-jewel” and promises more enhancements coming.

The new Homesnap Pro

All this can only be good for agents and MLS customers. Competition is a good thing.

🍿

Feb 6 20

Agent Webinar: How to Effectively Deliver a Winning Listing Presentation

by Greg Robertson

I don’t typically do this but I wanted to share that I’m hosting a webinar next week with Sharran Srivatsaa. I’ve known Sharran for a while now and he really is a great teacher.

Sharran is going to talk about helping agents do better listing presentations. I’ve seen him do this presentation live and its gold. He has real-world experience, he grew Teles Properties by 10x in 5 years and led its acquisition to national real estate powerhouse Douglas Elliman. He’s legit.

So I would love it you could share the link below, I know a lot of agents will benefit.

How to Effectively Deliver a Winning Listing Presentation

thanks!

Feb 6 20

Looking for a new gig?

by Greg Robertson

Copywriter – MRED, LLC

“Serving internal teams in Marketing, Outreach, Product Education, and Customer Support, the copywriter will craft meaningful, data-informed stories to support the goals and growth of the organization. This multi-disciplinary position integrates strategic thinking with copywriting skills to produce content which will inform, engage, and strengthen the company brand on behalf of MRED.”

To find out out this job and more please visit and support the Vendor Alley Job Board.

Feb 5 20

John Heithaus launches OKMOVEME

by Greg Robertson

OKMOVEME Set To Launch Beta Site

“Moving and settling in to a new home is unnecessarily stressful, costly and risky. OKMOVEME™ (OKMM) focuses on each of these “pain points” with a FREE cloud-based solution that consumers will regard as invaluable when they’re considering, planning or actively engaged in moving to a new home and settling in thereafter. OKMOVEME™ provides consumers invaluable assistance “just in time at the right time.”

WE MAKE HOME BETTER™ with highly curated editorial content, simple research and task/organizational tools using monetizable affiliate links to valuable goods and resources. The consumer controls the entire experience, aided by OKMM serving up “human bites” of 4 distinct moving transactional phases accompanied by valuable resources coupled with an interactive task list for each phase.”

Lots of buzz about this in the hallways and lobby bar at Inman Connect NYC. This is a space Heithaus knows well, so color me curious. Good luck John!

Feb 5 20

Elm Street Technology Secures Strategic Investment

by Greg Robertson

Elm Street Technology Secures Strategic Investment By Aquiline Capital Partners

“Elm Street Technology offers a simplified platform called Elevate, for real estate technology and marketing services, that aims to provide a single vendor and point of contact to maximize business leads. The Elevate platform is currently used by tens of thousands of real estate agents, teams and brokerages across the United States. It offers a variety of seamlessly integrated tools including IDX websites, lead generation services, CRM, email, social, text and blog marketing automation, recruiting and retention campaigns, and more, all backed by zealous support and education teams.

“Aquiline is the perfect partner to help Elm Street Technology accelerate its growth strategy,” said Prem Luthra, President and CEO of Elm Street Technology. “With Aquiline, we will be able to broaden and accelerate our sales and marketing capabilities, enhance product development and increase our focus on strategic acquisitions that will allow us to better service the increasing demand for technology to automate and streamline the day-to-day activities of the busy real estate professional.”

Still a lot of appetite for real estate technology companies out there. Congrats to Prem and his team as they continue to grow.