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Mar 23 21

Former Zillow execs team up to invest against Zillow.

by Greg Robertson

Former Trulia CEO Pete Flint leads investment round in Instashowing

Flint, who today is a general partner at venture capital firm NFX, led the funding round, which poured $1.5 million into Instashowing. Other participants included Ferry, along with Howard Hanna Real Estate Services President Howard W. “Hoby” Hanna, IV, former Contractually CEO Zvi Band, former dotloop CEO Austin Allison, and Greg Schwartz, founder, and CEO of real estate technology startup Tomo.

Last week when it was announced that former Zillow CEO, Spencer Rascoff was investing in Offerpad, a rival to Zillow’s iBuying efforts, it raised a lot of eyebrows and questions about his motives and relationship with his former employer. Now 3 (Pete Flint, Greg Schwartz, and Austin Allison) other former Zillow execs are joining the pile-on and investing in another company that competes against Zillow’s newest acquisition ShowingTime.

Talk about bad blood!

Mar 22 21

Rumor Alert: More former Zillow execs bet against…wait for it… Zillow!

by Greg Robertson

Talk about bad blood. I’m hearing a boatload of former Zillow execs is following Spencer Rascoff’s lead and are investing in another company that is directly competing with Zillow.

Ouch!

Developing…

Mar 19 21

Spencer Rascoff SPACs Zillow in the face!

by Greg Robertson

Ex-Zillow CEO Spencer Rascoff leads SPAC deal to acquire Offerpad, a rival to his former employer

“It’s a deal that pits Rascoff in an intriguing match-up with his former colleagues at Zillow, including co-founders Rich Barton and Lloyd Frink. Rascoff’s SPAC — operating under the name Supernova Partners Acquisition Company — is acquiring Offerpad in a deal that will value the Chandler, Ariz.-based company at $3 billion and bring in an additional $650 million in gross proceeds to a real estate technology provider that powers the quick selling and buying of homes.

Offerpad plans to trade on the New York Stock Exchange under the ticker symbol OPAD.”

Real estate is hot. If you don’t think so, look no further than this deal. Offerpad is in 3rd place (by a country mile) in the iBuying space. I love this quote from Spencer,

“The real competition for Offerpad isn’t Zillow or Opendoor, it’s the fact that 99.5% of the time people sell their home the old analog way.”

He’s exactly right. But how much is that percentage going to shrink, and it doesn’t have to shrink that much to have a huge company. I have two predictions about Mr. Rascoff’s recent moves.

Pacaso will be acquired by AirBnB, and Offerpad will be acquired by Zillow. Wall Street loves a story.

Mar 18 21

My T3 Sixty Interview

by Greg Robertson

T3 Sixty Organized Real Estate with Clint Skutchan with guest Greg Robertson

Enjoyed my conversation with Clint.

Mar 17 21

Lone Wolf launches Digital Title

by Greg Robertson

Lone Wolf launches Digital Title Orders for 1.4 million real estate agents in the U.S.

“The new feature was made possible through an unprecedented collaborative effort between Lone Wolf and leading title providers, including First American Title Company and WFG National Title, and leading title software providers, including SoftPro and RamQuest, with many more on the way and planned for 2021. Through these individual partnerships, Lone Wolf has created real estate’s first direct integration between real estate agents and title agents and made it available to every real estate agent and brokerage in the U.S. through the member benefit, Lone Wolf Transactions. The national launch of Digital Title Orders kicks off today with First American Title, while those using the RamQuest title production system are also able to get their title companies onboarded within Transactions to connect to their customers. By the end of 2021, Lone Wolf plans to onboard 80% of title companies.”

It’s crazy the amount of scale that Lone Wolf has in the market. 1.5 million agents, 125 million forms per year and 22 million digital signatures. But scale is a double edged sword.

Over the past couple of months, I’ve been learning a lot about forms, transaction management, and brokerage accounting/back-office software. Due to zipForm’s partnership with NAR, it has the most forms coverage of anyone in the market. That also means they (we) have a lot of challenges as well. For instance, I learned last week that we get over 150 form change requests a week. A week! That is spread between two different software platforms – Zipforms and TransactionDesk. Each platform has separate processes for updating and creating new forms. In many markets, that’s one form, but twice the work. It’s a struggle. It can mean customers waiting longer than they want for forms updates. It’s painstaking work – I mean, it’s literally a legal document. I’ve talked to many of you and it’s clear that there is room for improvement. But that’s another blog post.

On the other side of the coin, what scale can also do is bring a great benefit to a lot of people in a very short amount of time. That’s what I believe is the significance of the launch of Digital Title. Starting with First American and those using the RamQuest title production system agents get a lot of benefits. It’s pretty amazing.

-One-click title orders in Transactions
-Automatic status tracking
-In-product chat with your title agent
-Secure document sharing
-One-click order cancelations
-Accurate data at closing with real-time sync

This works both with zipForms and TransactionDesk. Digitizing the process of ordering Title is just one innovation that is making things easier for agents and brokers. With brokerages that have JV agreements with title companies, it can dramatically improve capture rates.

I can’t wait to share another innovation Lone Wolf is launching next month that starts at the very beginning of a transaction. Can you take a guess? : )

Mar 17 21

Bright MLS and T3 Sixty launch Home Demand Index

by Greg Robertson

Bright MLS and T3 Sixty Launch Home Demand Index to Provide Real-Time Insight Into Homebuyer Demand

“The Bright T3 Home Demand Index is a key part of Bright MLS’s strategy to create a nimbler, more valuable MLS platform. Most existing housing indices track what has happened in the past; the Bright T3 Home Demand Index captures what is happening right now and, over time, helps paint a picture of buying activity into the future. This gives real estate professionals valuable real-time information that they can use to better price homes for their clients; in addition, consumers can access the information to analyze purchase opportunities. “

Very cool. Reminds me a bit of ShowingTime’s Showing Index and Buyside. Presenting the data as an index and adding a graphic is smart, it makes this information digestible.

I hope they make this information will be available via an API, which I always thought was a bummer about the Showing Index.

Mar 16 21

Join me and Clint from T3 Sixty on acquisitions and their impact on MLS/Assn.

by Greg Robertson

T3 Sixty Organized Real Estate with Clint Skutchan with guest Greg Robertson.

Clint welcomes Greg Robertson, Head of Sales MLS/Assn./Franchisors for Lone Wolf Technologies who recently acquired W+R Studios’ Cloud CMA for which Greg was a Co-founder. He’s also a recognized commentator on all things Organized Real Estate via his vendoralley.com website and various podcasts.  
Greg and Clint will discuss the recent flurry of technology acquisitions and what, if anything, Association and MLS leaders should be doing to prepare for further changes to the vendor landscape in the coming year.

Registration is complimentary.

I’m looking forward to this. There has been a lot of consternation about the consolidation in the industry. I’m hoping I can provide some unique first-hand perspective on the topic.

Click here to register: T3 Webinar with Clint and Greg

Mar 15 21

Join me tomorrow on Clubhouse- This week’s topic: Front End of Choice-Where do we go from here?

by Greg Robertson

I’m discussing “Front End of Choice- Where do we go from here?” with Alley Cats. Tomorrow, Mar 16 at 3:00 PM PDT on @joinClubhouse. Join us! joinclubhouse.com/event/maGXkqkq

Mar 15 21

Buy this book

by Greg Robertson

I just wanted to drop a plug for my book The Art of the CMA. It was always a goal of mine to write a book and I am super happy with the results. I had started this project thinking I would be speaking live and promoting book sales at these events. Then the pandemic changed everything. Luckily the sales have been steady and the reviews have been great…

Real Estate Agent Must Buy Book of The Year
This book has a surprising amount of useful information. The tactics are surprisingly actionable, which is really nice for a new real estate agent like myself, or for someone seasoned, or even if you aren’t in real estate but need business guidance, this book shows you some pretty great steps for ideas of generating business that covers more than the narrow scope it intended…

Best Actionable Real Estate Book I’ve Read
Read this in its entirety over two days. Quick read, very informative, and I highly recommend it. Not your usual (and typical) real estate book. I was already a huge fan of Cloud CMA and the positive impact it had on my business. I liked how it wasn’t just trying to sell you the CMA service the whole time…

Just Get It!
Fantastic! Is this a book just about CMAs? No, not by a long-shot. The Art of the CMA contains a wealth of real estate industry insight and guidance no matter your experience as a Realtor. The book is a blueprint on engagement with the lifeblood of an agent’s career – the consumer. “

If you are looking for something to give your board of directors, team members (quantity discounts are available), or the real estate agent in your life, look no further.

Another idea is that I can speak at your next online event. If you pre-order books you can send them to your attendees afterward. Just drop me a line if you are interested.

Plus, if you order from my website, I’ll personalize your copy and autograph each book.

Click Here To Order=> The Art of the CMA

Mar 13 21

Remembering

by Greg Robertson
Me and Pat

Yesterday was the anniversary of the day we lost Pat Bybee in 2013. It made me think of the others we have lost along the way. Most recently Freddy Sarabia, due to COVID.

Freddy
Cathy
Dennis

It looks like there’s a light at the end of the tunnel with the vaccine rollout now hitting its stride and hopefully, by the end of the year, we will all be able to see each other again. But sad we will not raise a glass with these faces again.