Where Real Estate Gets Its Dirt

Webinar: What’s Behind Opendoor?

I’ve asked Tyler Hixson, director of Real Estate Partnerships & Strategy at Opendoor, to join me on a webinar on December 5th. On this webinar, I’m going to ask Tyler to explain how agents are using Opendoor to increase their real estate business, common misconceptions and other tough questions about where Opendoor sees the industry going.  We will have a Q&A session at the end.

Register for the webinar by clicking on the link below (Please feel free to share):

Registration => What’s Behind Opendoor?

P.S. Can’t make the live webinar? Register anyway and we’ll send you the recording.

Undercover investigation finds agents/brokers complicit in housing discrimination

Long Island Divided

“More than 50 years after President Lyndon B. Johnson signed the federal Fair Housing Act to prohibit discrimination in housing, this remains a core question for one of America’s oldest, most populous and most segregated suburbs.
The answer should be equal treatment for all by real estate agents and equal access for all communities.
In the decades after World War II, Long Island experienced explosive growth as its communities swelled with returning veterans investing in homes and establishing roots. But opportunities were not the same for everyone in what was also an era of racially exclusive covenants and blockbusting tactics that separated communities along color lines.”

Editor: Newsday

Just devastating. A must-read for everyone in organized real estate. You can only imagine what’s happening in “exclusive buyer networks.”

In case anybody asks…

Get it? ????

Constellation acquires Offrs, SmartZip acquisition also to be announced soon

Inman News:

“Constellation Real Estate Group announced Tuesday that it has purchased data analytics and lead generation company offrs, continuing a running acquisition spree that has seen the software giant pick up firms focused on everything from marketing to mortgage technology.
In a statement Tuesday, Constellation said that offrs (yes, that’s how the company spells its name) “leverages big data and its proprietary machine learning algorithm to predict future home sales and transactions.” Offrs then provides that data to various real estate professionals, including agents and mortgage companies.
Terms of the deal were not made public.”

Spoiler Alert!

I’m also hearing that Constellation is in the late stages of acquiring SmartZip too, which has been looking for a suitor for quite some time. That deal I’m told will be announced shortly. SmartZip had raised over $30M dollars according to Crunchbase.

I have mixed emotions when I hear of companies being acquired by Constellation, because they have a reputation as bottom feeders and founders rarely take any real money off the table.

VHT Studios Unveils Virtual Twilight and Decluttering

VHT Studios Unveils Virtual Twilight for Real Estate Professionals to Further Captivate Buyers and Boost a Listing’s Appeal

“Virtual Twilight is another convenient alternative to VHT’s traditional twilight photography sessions. VHT uses our professional photographers’ daylight exterior photographs and our image specialists digitally transform them into twilight photographs. It saves time for the seller and real estate professional, since it requires no additional or extended late-day photography sessions.

I would qualify this as a AR (Augmented Reality) type of feature, although it’s not done on the fly. But, their slide demo is pretty impressive, make sure you look at all the photos, the decluttering and staging examples are just as impressive as the twilight photos. I wish I could use the decluttering feature in real life for my boy’s rooms.

Jeff Turner takes CEO position at immoviewer

immoviewer Announces Appointment of New CEOJeff Turner Named Chief Executive Officer

“We are thrilled to have such a highly regarded industry leader as our new North American CEO,” immoviewer founder, Ralf von Grafenstein said. “Jeff has a unique understanding of where the real estate market is heading and a clear vision for where technology fits into the picture. Jeff’s experience and reputation in the industry is stellar and well known. We are certain he will be able to lead us to the conversations that will move immoviewer forward at a rapid pace in North America.”

Huge congrats to Jeff. This stuff looks shit hot and affordable for most brokers/agents.

MetroList® announces deal with Real Safe Agent

MetroList® Chooses Real Safe Agent

““After several months of extensive research into real estate agent safety options, our staff and Board of Directors believe that Real Safe Agent and the behavioral science behind it, was by far the best choice to further help our subscribers stay safe while conducting their business,” said Bill Miller, CEO of MetroList Services, Inc.
MetroList® is the first MLS in California to adopt Real Safe Agent and joins several other MLS’s and Associations around the country that have already deployed the system; bringing the total number of brokers and agents with access to the new safety system to approximately 85,000.

MetroList is pretty picky so I know they have vetted this solution pretty well. Congrats to Susan and Lee.

LIBOR and BNAR implement RealSafe

LIBOR and BNAR getting serious about REALTOR(R) safety

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.

Listingbook and RLS2000 now part of new firm, Elm Street Technology

Elm Street Technology Poised for Growth, Launches Elevate for Real Estate

“Two best-in-class acquisitions, including one of the most established real estate marketing brands used by millions of consumers — Listingbook, has catapulted Elm Street Technology into the real estate industry spotlight. Headed by a team of well-known real estate industry entrepreneurs, Prem Luthra and Randall Kaplan, Elm Street Technology today launches Elevatetm, a new Digital Marketing System that uses advanced automation to move Elm Street Technology towards delivering “everything real estate agents and brokers need for new leads and client-for-life retention, all in one place.”

Lots to chew on here. I’ve always thought Listingbook had a lot of promise but was hampered by a flawed (and ever changing) business model and poor design. That being said, they have a large MLS footprint and I know some agents have sworn by it. I’ve never heard of “RL2000“. Reading the press release I’m not sure if both brands/products are going away and now becoming “Elevate”, or what. If that’s the case then it sounds like MLS permissioning nightmare.

“According to Luthra, Elm Street Technology is in the process of rolling up other successful technology and marketing services companies. “We will be able to deliver everything a broker or agent needs from lead generation, to customer for life retention solutions,” he says.

I wonder who’s next?

This “roll up” strategy is interesting, others have tried with mixed success. I think it all comes down to the fit of the products and people. Ideally playing to each others strengths while complementing any shortfalls.

I also respect Prem for getting in to the mix again. Pulling something like this off isn’t easy and will be full of challenges. Having people in this industry that aren’t afraid of hard work and have a strong entrepreneurial spirit is what makes this industry so great. Best of luck to Prem, Randall and Todd.

Thanks Joel

Joel Burslem just jumped to the top of my list of favorite people in the world….

Ode to real estate vendors

“But I’ve also seen a lot of noble ventures. Ideas that have real merit that just need a little coaxing into flower. Some of the best have gone on to great acclaim. Others have earned their just reward.

I am inspired by these folks for a couple of reasons.

First, they actually made something. I know how profoundly difficult this can be. I’ve been there. Grinding and grinding for hours obsessing over pixels, debating features, fixing bugs, stressing about database loads, worrying about business models or where the next – or even the first – dollar will come from. The countless hours and toll that this sort of entrepreneurship takes. It’s not for everyone.

It’s this determination that I find energizing.”

Fittingly I read this in an airport, midway of a trip that has taken me on 6 airplanes in 4 days. #hustle

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