My thanks to SavvyCard for sponsoring Vendor Alley. SavvyCard for real estate is a really great tool to help real estate agents generate leads from their own sphere of influence and people they meet as they expand their network. I’ve interviewed David Etheredge on my Listing Bits podcast and he is very passionate about what SavvyCard can deliver to any business professional.
One recent story caught my eye, where a Realtor by the name of Rebecca Lynch, a member of Triad MLS (where SavvyCard is offered as a member benefit) had posted her SavvyCard on Facebook and something remarkable happen…
“I was floored when I learned that the Property SavvyCard I shared on social media had ninety thousand interactions,” Rebecca commented. “I had nearly 200 people show up to a two day (2 hours each day) open house. I couldn’t believe it. Coming from a small rural town in Pilot Mountain, NC that is beyond amazing, and unheard of.”
For SavvyCard, Rebecca’s listing had the highest usage volume for any Property SavvyCard™ in the history of the company. Over a 5-day period, the Property SavvyCard for Rebecca’s listing received 28,182 pageviews with 90,325 total events such as users looking at photos, getting turn-by-turn directions and calling Rebecca directly about the property.
Thanks again to SavvyCard for sponsoring Vendor Alley.
I don’t know how I got the job of MLS data cop. I guess ever since the whole thing happened with HouseCanary, I get MLS providers and Vendors asking me what I think about this and that.
Enter “the new Remine.com”. At first glance it appears that they have just taken public record data and matched it with Google Street Views. No active listings. But……there is a callout box that says “Curious about listings in your area? Match With An Agent”
So I clicked on the “Match With An Agent” box(Even I’m not brave enough to click on the box that said “Claim Your Home”).
I go through a process where I’m asked a series of questions and then presented with a few “top local” agents to choose from. Not sure what Remine does to qualify them as “Top”. The first time I did this I got agents from all over, not where I was looking to buy. After trying it a few times I saw an agent from Huntington Beach.
So I choose that agent.
I am then directed to create an account. Not with an agent, not with a broker, but with Remine.com.
So I created an account.
Bingo! Now I can see all active listings on the MLS!
Everything goes downhill from there. The site is just awful. It seems like every page reload prompts a message box asking “The website “remine.com” would like to use…”. I swear I must have given permission 50 times.
I also get spinners that last forever when I try and view photos and some photos don’t display. And for some reason there is no way that I can modify/change/add a new area on a saved search. I have to start every search all over again. Maddening. Remine have your QA guy call me. Seriously.
All of which is fine; they can fix these things. I get it…I make software for living; it’s a version one product.
But the thing is, I wasn’t taken to a personalized agent page. So, did I really create the sort of VOW required relationship? Is Remine a broker? Did the agent even know about this or me?
So I called the agent.
I got voicemail, so I left a message. He called right back. I told him that I was on a website and I was “matched” with him (this was about 24 hours after I created the account), and I asked if he knew anything about me. He said no, he had never heard of me. Based on his voicemail I think he was at another brokerage than the one listed on Remine.com, too. Yikes.
On one level I can see some real innovation here from Remine. Start with public record data and bait site visitors to see real listings. Cool, right? I recently recorded a podcast with Mark Schacknies , CEO of Remine. This guy is a serious cat, and they are definitely in it to win it. I can also appreciate the need to push boundaries. I’m all for it.
But I just can’t say that it’s completely kosher. Maybe, but if this is possible then why do other listing portals need agreements with MLS Providers? I mean Homes.com could just put a list of random agents on their site and get visitors to click on a button that says “match me with an agent” and Bingo, MLS listings!
This gets back to what many Vendors have been saying lately…Many MLS Providers give newer Vendors more leeway, and existing vendors get slapped on the wrist or denied for every….little….thing. Sour grapes? Whining? Maybe.
It’s a tough balance and competition is getting rough. But here’s the thing, and those who attended the CMLS conference will understand.
Chip had a point.
[Quick side note HouseCanary has done a complete mea culpa and have been very diligent on following proper MLS data licensing rules. Big shout out to Russell and team]
[UPDATE: Remine has decided to disable the Agent Match feature on their website. It will revisit the feature at a later time. Here is their statement.]
Bright MLS, the region’s multiple listing service, on Wednesday announced a policy that requires all real estate agents and brokers in its system to submit the listing within one business day of marketing the property to the public. The policy is in effect now, but fines won’t be imposed on agents who break the rule until Dec. 1. The fines for noncompliance are $5,000 for the first infraction, $7,500 for the second and $10,000 for the third instance.
Washington Post
Bright MLS did make a slight edit to NAR’s 8.0 policy, allowing for one business day, not 24 hours, which I think is smart. The WaPo article is interesting to read. I always get a kick out of how main stream news covers issues in organized real estate.
And love Jon Coile’s quote, which I first heard Dave Liniger, co-founder of RE/MAX first say back in the day; “That’s like coming to a potluck dinner with just a fork.
Overall is great to see the larger MLS provider coming out and supporting NAR’s 8.0 policy. But I don’t find many addressing what I think is a core problem, Fair Housing. Maybe its too controversial for MLS providers to talk about.
In a report released last week, MRED revealed that it was voicing support for a proposed policy from the National Association of Realtors (NAR) “so that the [multiple listing service] industry can maintain an efficient and effective marketplace.” The proposed NAR policy was announced earlier this month and, if adopted, will require agents to submit their properties to their local multiple listing service (MLS) within 24 hours of marketing them.
I really liked the “Private, Not A Secret” report put out by MRED last week. It’s a great reference for anyone wanting to get a primer on what issues surround “pocket listings” and “coming soon” statuses and how other MLS providers are dealing with these issues. The report goes over MRED’s PLN solution but also includes examples from other MLS providers along with marketing programs MRED has used to educate their membership. Well done MRED!
“n addition to his new role, Coile is chairman of Bright MLS, one of the largest MLSs in the U.S., with 95,000 members in the Mid-Atlantic region. Coile was integrally involved in merging the organization, which brought together 43 REALTOR® associations and consolidated nine MLSs. Coile is also on the MLS and Emerging Technology Advisory Board committees for the National Association of REALTORS®”
Welcome to the Thunderdome Jon! Your timing is perfect.
“GLVAR members and their clients can collaborate effortlessly from their phones or laptops,” said Stephanie Hill, MLS vice president for GLVAR. “Suggested listings and client favorites can be viewed in both the client portal and the mobile app, and all messages and activities are tracked in the client record in MLS-Touch, Prospects CRM and Matrix. We are taking real-time collaboration to another level.”
Love reading about this type of integration. I think becoming part of the MLS workflow is a big win for MLS vendors and Third-Party Software providers. More like this please!
“With full access to Remine, Bright subscribers have expansive property data, presented through a brand-new intuitive user interface. Remine Pro includes map-based, public records-enhanced property searches, unlimited contact information for prospecting, a fully integrated comparative market analysis (CMA) tool, that incorporates both MLS & off-market properties, a customer relationship management (CRM) system, chat and collaboration client portal tools, a scoring system that predicts the likelihood that someone will sell, integrated tracking and marketing for up to 10,000 properties, and a mobile app.”
Lots of news the week of the CMLS Conference. Pro tip for everyone, you should announce this stuff the week before, not the week of, you will get more coverage.
Remine CEO Mark Schacknies recorded an audio conversation with Rob Hahn last week. It’s only available if you are a Notorious VIP member (which you already should be). He made, what I thought, were a lot of controversial statements about the MLS industry.
Looks like Remine continues to have success with their Remine Pro offering. They have teased that they have up to 3 MLS providers that are committing to switch over to a full “MLS by Remine” solution in 2020, but so far no confirmation.
Lots of banter back and forth on my last post about Remine from other MLS vendors in the space. Everyone should remember that we are all in this together. And by “everyone” I mean Remine.
Continuing its 40+ years of providing technology and services that maximize the core value of Multiple Listing Services (MLSs), FBS introduces FlōPlan, game-changing floor plan and digital capture technology that empowers MLSs to create new value for members and consumers with a floor plan on every listing.
On the surface this could seem like just another partnership with a third party software app. But under the surface, the real innovation is about MLS providers capturing a new digital asset. An asset that could be used as leverage against existing portals and make MLS and brokerages more relevant to consumers again.
And what do I mean by “leverage”? Any contract negotiations come up with anyone regarding MLS data, the MLS can negotiate (new and old agreements) new rates and terms based on the inclusion of floorpans.
Think about it, what if through this partnership an MLS began to capture a majority of floor plans for each new listing. Would that be valuable? I would say, “Hell, yes!” I think consumers would absolutely love listings with floor plans and begin to demand them.
I also absolutely think that the MLS is in the best position to capture this data. I can imagine a listing agent telling their seller to have their 15 year old son download this app and start capturing the floor plan.
One quibble, the name “FlōPlan”. Too cutesy for me. Otherwise I think this is something every MLS provider should embrace and start implementing today.
“Last year, W+R Studios unveiled a tool called iBuyer Connect, which allowed agents to incorporate all-cash offers from investors into their listing presentation. Robertson told Inman that most of the interest from investors at this point had been home flippers, but now adding Opendoor as a partner in the platform will allow agents using iBuyer Connect to present all-cash offers to owners of turnkey homes.
Agents who refer clients to Opendoor ultimately have two options. Negotiate a traditional listing agent commission with the seller – who will also be paying Opendoor a transaction fee that averages 7.1 percent – or forgo the listing agent commission and receive a 1 percent referral fee from Opendoor.”
We’ve been working on this for over a year. What I think is going to be transformational about this is the software integration between Cloud CMA and Opendoor.
The experience of creating a CMA and going right in to generating an offer is like nothing out there. It really gives agents the advantage in simplicity and speed. And its only going to get better.
It’s our CMLS Conference Pre-Show Podcast! In an effort to curb the rampant growth of Coming Soon listings, NAR’s Multiple Listing Issues and Policies Committee has issued a proposal to clarify the Clear Cooperation Policy. But will the guidelines actually put an end to pocket listings? Are the rules a good compromise? Or should the MLS die on the hill of all-or-nothing, requiring members to list there first?
On this episode of Industry Relations, Rob and Greg discuss NAR’s draft MLS Policy Statement 8.0, exploring whether the guidelines go far enough in preventing exclusive listings. Rob explains why the 24-hour submission window and the concession around office exclusives are a problem, arguing that the MLS must take a stand NOW to establish itself as the primary marketplace for property listings.
Greg challenges Rob’s view that the MLS is not already the primary marketplace, applauding the 24-hour window as a reasonable and clever compromise and arguing that pocket listings are a breach of fiduciary duty. Listen in to understand Rob’s proposal to extend the all-in IDX rules to MLS membership as a whole and consider how Policy Statement 8.0 will (or will not) impact the pocket listing strategies employed by large national brokerages.
What’sDiscussed:
Rob’s take that NAR MLS Policy 8.0 doesn’t go far enough
– 24-hour submission window – Office exclusives not prohibited
Whether the MLS is the marketplace or a data repository
The potential confusion around one-to-one communication
What does and does not qualify as marketing under 8.0
Greg’s view of the 24-hour window as a clever compromise
How Rob defines a primary marketplace as first-in-time
Greg’s challenge that 70% of deals qualifies as ‘primary’
Why Greg sees pocket listings as a code of ethics issue
Extending IDX all-in rules to MLS membership as a whole
How exclusive listings benefit large national brokerages
