Sweet setup! #NGBFN
NAR announces 2020 Second Century Venture Companies
Second Century Ventures Announces 2020 REACH and REACH Commercial Companies
“While we look at this crisis as an opportunity to grow and adapt to the markets of the future, we know it is also a time when NAR’s commitment to equipping Realtors® with the technology they need to survive in a rapidly-evolving market is more important than ever,” Goldberg continued. “The REACH program allows NAR to deliver radical and actionable innovation in all aspects of real estate, and we are thrilled to welcome 16 new companies representing a dynamic group of entrepreneurs who will work hand in hand with the Realtor® family to transform our industry.”
The eight companies selected for the REACH Class of 2020 include:
Earnnest: secure, electronic escrow fund transfer platform
Kangaroo: affordable, DIY smart home and small business security solutions
RealX: America’s first online property rights exchange
Ylopo: end-to-end, cross platform, digital marketing
PunchList: all-in-one closing repair solution
Transactly: simple, streamlined platform for real estate professionals and transaction coordinators
CartoFront: software-as-service (Saas) based flood insurance tool for Realtors®
Modus: secure, modernized title and escrow platform
Looks like Luke Glass’ new company RealX, which I wrote about previously, made the list.
This is one of my most favorite things NAR does. Bob Goldberg’s attitude to bring new tech companies “inside the tent” and working with them is something I’ve always thought of as a great idea.
Congrats everyone.
How to get news about your company on Vendor Alley
I believe I’ve posted this before but I can’t find it, but I thought it was worth saying it again.
If you are looking to get your story posted on Vendor Alley here are some tips.
- Is it a scoop? If I’m the first to know about the news, then I’m more likely to post it.
- You do something really stupid.
- I usually start posting between 6AM to 9AM PT. Timely emails make my job easier.
- I prefer to have a link to the story, not a PDF or Word doc. Uploading content to the blog is time-consuming. Having a link makes my job easier, and the likelihood of your story being posted much better. And it’s better if that link goes to your website, not a newswire service. You want people to go to your website and browse around, right?
- If you haven’t already guessed from tips 2 and 3, I’m lazy. Including any artwork, logos, photo, or link to video along with your news will also increase your chances of getting you posted.
- Please provide me with any context or other flavor you want to add to the news.
A few other things.
- I’m not a journalist.
- I will typically add my own commentary to your news. You may like or dislike this commentary.
- If you have ideas for stories or a podcast theme/guest, send them to me.
- If you want to be on my podcast, let me know.
CRS Data’s MLS Tax Suite gains traction
CRS Data Attracts Seven New Customers in Three Months
“Over the past three months, CRS Data partnered with seven new customers to service its MLS Tax Suite, including: Triangle MLS, Inc.; Greater Alabama MLS; Valley MLS; Northern Great Lakes REALTORS® MLS LLC; Texarkana Board of REALTORS®; Iowa City Area Association of REALTORS® and Iowa Great Lakes Board of REALTORS®.
“Our industry has quickly transitioned to a more virtual environment, one in which rich property tax data and mapping tools are vital to service clients successfully,” said Matt Casey, CEO of CRS Data. “We have stepped up as a team to ensure that our MLS Tax Suite and our help desk services are flawless and readily available to agents who are helping clients shop and sell homes more virtually than ever before.”
Congrats. Lots of competition in this space for sure.
NAR passes “MyDX” policy, closing loophole for brokers to access their own data
From Inman News: NAR board approves policy giving brokers back their MLS data
The policy, first proposed by the Council of MLSs (CMLS), gives MLS participants (defined as brokerage principals) the right to receive a data feed of their own listing information without restrictions on what they can do with that data. The mandatory policy applies to Realtor-affiliated MLSs nationwide. The vast majority of the 565 MLSs in the U.S. are owned and operated by Realtor associations.
“Most MLSs already allow brokers to access their own MLS content. The new national policy will close a loophole for MLSs that haven’t had a protocol in place for providing that data to their participants, and will unlock efficiencies for brokers, ensuring they don’t have to manually enter the data multiple times into their various systems and reports,” NAR said in an announcement.
Nice win for CMLS and brokers. I’m sure this will be discussed at CMLS virtual “Brings It To The Table” event this Thursday (5/21) starting at 9:00AM PT. I’ll be participating on a panel discussing the future of MLS/Real Estate data.
If you haven’t already registered you can find out more information below:
Click this link to register=> CMLS Brings It To The Table
Rapattoni shares product highlights for 2020
I can’t help but think a lot of us would be in D.C. right now, seeing each other, sharing a meal, and drink or two. It was also a time when vendors would start showing off their new stuff. To that end, Rapattoni has put together a video.
I hadn’t seen Rappatoni MLS in awhile, looks like they have been spending a lot of time on improving their UI. They even have a “dark mode”! Your move CoreLogic!
You can see a lot of the feature parity now between MLS systems, driven by increased competition in this space. The UI/UX of traditional MLS systems are getting better but also starting to get a homogeneous feel about them. Paragon MLS‘ top banner with “big buttons” seems to be an outlier on the dashboard side.
I think more and more the company/people behind the products are going to be the key difference going forward. This was always the case, but I feel even more so going forward. What is leadership like, are they responsive, are they stable, are they flexible in pricing solutions? Also, the openness of each platform is going to be key.
With so many great people and companies in our industry, there will be interesting times are ahead.
Cloud CMA Live Webinar
I’m co-hosting a webinar tomorrow at 10:00 AM PT with W+R Studios’ Chief Design Officer Damien Huze about our new Cloud CMA Live.
Cloud CMA Live is a free upgrade to Cloud CMA customers that gives them a new interactive presentation experience. It also features built-in integration with Zoom, Skype, and Google for virtual listing presentations. Plus you can add video, and add and remove comps on the fly using live MLS data.
We are going to do a full demo along with a deep-dive into the design process and choices we made with Cloud CMA Live. We will also have a Q&A at the end.
Join us! Just click on the registration link below and please share it with anyone who you think will be interested.
Webinar Registration Link => Introducing, Cloud CMA Live
It’s about fair housing stupid
From the Wall Street Journal (paywall)
NAR, Real Estate’s Biggest Trade Group, Sued Over Pocket Listings Policy
“TAN, launched in 2010, is a members-only networking and communication platform for real-estate agents who can show that they are in the top 10% of producers in their geographic area, according to founder David Faudman. Its roughly 10,000 members, who pay between $475 and $675 in annual dues, frequently use the platform to share information about off-market listings, which are for sale but not in the MLS. That function is now against NAR rules, said Mr. Faudman. “We’re concerned that this could put a huge damper on TAN, to the point that it destroys the business,” he said.”
In other words, “Ever since they made discrimination illegal, it’s been bad for the discrimination business.”
And then there’s this gem.
“In addition to threatening his business model, Mr. Faudman said the new policy harms home sellers because it prevents them from choosing to market their homes privately if they wish. “There are plenty of times, certainly on the celebrity level, where they don’t want to go into the multiple listing service,” he said.”
Seriously? We are going to allow abuses in fair housing because of Kim Kardashian? ????♂️
We can do better than this people.
Industry Relations Episode 46: What’s Next for Real Estate—After COVID?
Last week, Rob & Greg imagined what the future of real estate might look like in the aftermath of the pandemic, pending a best-case scenario. Today, they get real about what’s ahead for the industry given the reality of our current circumstances. And they’re bringing on a number of industry stakeholders to offer their outlook as well.
On this episode of Industry Relations, Rob and Greg are leading a group chat around what’s next for real estate as the Coronavirus pandemic plays out. The group offers predictions on how the MLS landscape may change, debating whether it’s the number of MLSs or the number of MLS databases that really matters and offering examples of hybrid solutions that may serve as a model for the future.
Greg and Rob go on to solicit the group’s thoughts on the potential shape of the recovery curve and the possibility of a shift to a buyer’s market in 2021. Finally, they explain why an increase in property taxes is likely in the aftermath of the COVID-19 bailout and how that might impact buyer demand in the real estate market. Listen in for insight on Open House numbers in states where stay-at-home orders have been lifted and learn how those stats might be a good sign for other industries.
What’s Discussed:
A review of what Rob & Greg covered in their best-case discussion
Greg, Clint & John’s predictions re: the number of MLSs by 2023
Why the consolidation of data is more important than the total number of MLSs
Tim’s vision of a future with ten or fewer MLS databases that talk to each other
How the pandemic demonstrates the industry’s underutilization of telecommunication
Why Georgia is watching the commercial market for clues re: the future of residential
Georgia’s concept of a J-shaped recovery
Why Joshua is predicting a buyer’s market in 2021
Why Greg expects a best-case scenario uptick in buyer demand
Why property taxes are likely to increase and how that might impact buyer demand
The significant uptick in Open Houses scheduled in states where stay-at-home orders have been lifted
How Open House numbers may be a good sign for other industries
Connect with Rob and Greg:
Resources:
Great Recession + COVID-19 Bailout Comparison
ShowingTime Showing Activity Statistics
Our Sponsors:
Looking for a new gig?
Inside Sales Representative – RateMyAgent
“Ratemyagent.com is America’s newest real estate review platform and Australia’s No.1 real estate agent ratings and statistics website and we have ambitious plans for international growth into the USA. We are on a mission to be the global No.1 real estate ranking and statistics platform.
Our platform provides recommendations, rankings and reviews for real estate agents. We also provide real estate agents with a suite of marketing tools to promote their content across their digital landscape.”
These are a fun group of guys and are really making some headway in the market. To find out more about this job click here. To see all jobs on the Vendor Alley Job Board click here.