The recent announcement that Zillow is going to pay $108 Million for dotloop got me riled up. Then Dan forwarded me this article from Jason Fried, co-founder of Basecamp. So good, and keeps everything in perspective.
“Startups these days are bantered about as if they were in a fantasy football bracket. Did you hear Lyft raised another $150 million at a $2.5 billion valuation? But Uber got tossed another $2.8 billion at a $41.2 billion valuation! Then there are the companies barely off the ground getting VC backing with 25x valuations, despite having no product or business model.
Entrepreneurs by nature are competitive. But fundraising has become the sport in place of the nuts and bolts of building a sustainable business.
— CRMLS (@CRMLSNews) August 7, 2015
Congrats to Art Carter and the rest of the CRMLS team for winning this year’s Inman 2015 Innovator Award winner for “Most innovative MLS”. Inman news cited “has been clawing away at getting local MLS organizations to participate in its shareable database of listings, which will expedite innovation.” I think what made the difference for CRMLS was the well crafted messaging, videos and social media around their #ItsMyBiz campaign.
— ListHub (@ListHub) August 7, 2015
Also happy to see Celeste Starchild being recognized as one of the “four women who have shown leadership in the constant pursuit of innovation. Susan Daimler from Zillow, Chelsea Goyer from Redfin, and Dottie Herman from Douglas Elliman Real Estate. I’d like to see this list kept going and expanded next year, there are many others deserving to be recognized.
“”Cloud Streams caught my eye from the moment I first saw it,” said MRED President/Chief Executive Officer Rebecca Jensen. “Delivering the freshest information in the most consumer friendly way to prospective purchasers is critical to service the public today. W &R Studios has hit another home run with this latest product.”
My thanks to Rebecca, Lynn and the rest of the MRED team for making this happen.
Attendees to the workshop will learn the latest digital marketing tactics and strategies to drive more leads, growth and return from their marketing efforts, including:
How to set up and use analytics and A/B testing to improve the performance of your website and digital marketing campaigns.
How to use the latest features of the Facebook advertising platform to attract new listings, new clients and close new business.
The latest organic traffic strategies to get free traffic and leads to your website.
Strategies and tactics for building your brand online.
How to leverage public relations to get more exposure for your business.
Jessica from 1000Watt Consulting
Katie from Katie Lance Consulting
Chris Scott from The Paperless Agent
My man Audie from Lion & Orb (Guess who he’s hanging out with now)
Seth from Placester
Morgan from Inman News
“Dain is also active in the MLS industry generally, currently serving a member of the executive advisory team for Move, Inc., Dotloop and the interim executive committee for the Broker Public Portal. He has also served on the board of directors for the Council of MLS and as the chairperson for Corelogic Advisory Group. As part of that involvement, Dain was instrumental in Move Inc.’s decision to build FIND™ Mobile, a national mobile MLS application provided for free to any MLS.
Congrats to Tim and Austin Board of Realtors! My only question is if he really needs to move to Austin? ; )
We are showing an early version of our new product, Cloud MLX, next week at Inman Connect in San Francisco, to a few MLS/industry people. The team is still hard at work (and will be through the weekend) to put all the pieces together. Cloud MLX is an alternative front end to the MLS. Like all our “Cloud” products it will serve as a complement to existing MLS systems. We are hoping for some good feedback on our current direction with the product. See you next week!
Last year Dan and I were introduced to Melissa Kwan. Her company was developing an app called Spac.io. Spac.io’s slogan touted, “Bookmark Your Real Estate”. This was familiar to us because of an app we developed back in 2008 called Dwellicious. The premise of both apps leveraged the fact that people search multiple real estate sites, so why not make it easier for home shoppers to put all their favorite listings under one site, no matter where they saw it originally. You did this by bookmarking listings as you were searching on the web.
Due to various reasons Melissa has pivoted away from Spac.io’s bookmarking model and changed the focus to leverage “beacons”, but this seemed to me to be a bit too bleeding edge for right now.
But along the way she also saw an opportunity. Her new app is called Spacio Pro which is described as “the paperless Open House”. This might also sound familiar because of another app called Open Home Pro, developed by Andrew Machado, now owned by HomeFinder.
Both are similar in function, they help you capture buyer leads by having a iPad sign in form at an Open House. While Open Home Pro is a native app on iOS and Android, Melissa decided to build Spacio Pro as a responsive web app first. Which I think is very smart. They plan on releasing an iOS version soon.
The app is gorgeous and very well done. She has kept it really simple and it works fantastic on an iPad or any browser. Go check it out at SpacioPro.com. I believe its free for a limited time.
Good luck to Melissa and her team, and congrats on a great new product.
Why did Zillow buy dotloop?
I thought the aquistion was odd and said so in a tweet. But the simple answer is Zillow needs to charge more money for what it offers. The industry will collectively shit their pants with conspiracy theories but its all still hooey.
Spencer Rascoff’s response to my tweet summed it up.
@gregrobertson We sell ads. And provide software. Ads generate leads. Leads that convert into deals are worth more.
— Spencer Rascoff (@spencerrascoff) July 23, 2015
How much did Zillow pay for dotloop?
We will find out soon enough (Zillow is a public company) but I would look to Zillow’s previous acquisition of RentJuice for some guidance. RentJuice was a “rental relationship management service for landlords, property managers and rental brokers that helps them market their inventory and client relationships.” Sounds a bit familiar doesn’t it? The acquisition was pre-IPO for Zillow and was for 40 million cash. $40 million seems very high and Zillow now has paper money. But I’m sure Austin will be able to buy a lot more v-neck
sweaters t-shirts. BTW, RentJuice’s CEO, David Vivero, left Zillow just 13 months later.
What’s is dotloop’s future?
A lot of their customers are not happy with the deal. I heard one person quip–“Peoplework” is dead (a reference to dotloop’s much marketed mantra of “people work not paperwork”.) Despite many agents making tons of money working with Zillow it still garners a high degree of FUD factor from agents. Facebook has been blowing up with mostly negative comments, and 3 of 4 comments on dotloop’s own blog post announcing the acquisition were negative. Dotloop will have to do a lot of damage control with their agent and enterprise customers. Also my guess is that dotloop’s CEO, Austin Allison, will leave about 12 – 18 months after the acquisition is complete (Austin isn’t going to be a 4th banana).
What to expect next?
A lot of spin control as I previously mentioned. Also, if I were anyone at Instanet Solutions, Ziplogix, Reesio, or any other transaction platform that competes with dotloop I would be launching landing pages courting disgruntled dotloop agents now, with the messaging “Dotloop agents get XXXX free for XX days”, or “Dotloop agents can trust us with their business”.
“We are genuinely excited to be moving forward with a strong and respected creative partner like 1000watt to bring our vision to life” said Merle Whitehead, Chairman of the BPP executive committee. “Their team understands real estate, they understand branding and they are uniquely skilled at communicating.”
“This project aligns with our experience perfectly,” said Marc Davison, a founding partner at 1000watt. “We’ve helped innumerable real estate companies strengthen and communicate their brands, and have also helped launch dozens of new technology applications in our space. We are committed to supporting this really important initiative.”
Smart move. Brian, Marc and Joel are the brightest in the business. So now we know they are going to have a cool logo, the rest should be easy.
MetroList® and HomeSpotter® are the first MLS and vendor partnership to improve listing accuracy with RETS Data Dictionary 1.3
Ohan Antebian, Chief Strategy Officer, HomeSpotter:
“HomeSpotter® and MetroList® are pleased to announce an exciting new partnership, which is the first to utilize the new Real Estate Standards Organization (RESO) Data Dictionary 1.3, to provide MetroList Subscribers and Sacramento-area home buyers with an industry leading mobile app.”
Well done! Good to see the work MetroList did with Rapattoni, being the first to implement RESO Data Dictionary 1.3, is getting some use.
I’m getting more and more optimistic on RESO efforts. Great to see vendors and MLS providers work together to make this happen. Congrats to Aaron and Ohan for reaching over 250,000 agents. Also Tom, Rick, and rest of the MetroList team for showing what’s possible.