Woke up early this morning to “catch” this. SpaceX just launched its biggest rocket, which includes Starship. But the trick was they wanted to catch the booster part of the rocket back on the launch platform with what they call, “chopsticks”. And they did it!! I was watching this live on my phone jumping around in the kitchen like a madman!
Oh, and BTW, Starship made it to orbit with no problems.
Some Friday fun. If you want to get a peek in to what I find inspiring here you go.
Bright MLS CEO checks Robert Reffkin on Clear Cooperation Policy
“What concerns us the most is that these false claims are trying to harm us and benefit primarily the brokerage through sellers not getting the widest exposure for their listing.
“In our view, it could put homebuying and selling in the hands of a select few agents who could choose with whom they want to share information. Ultimately, we think getting rid of the norms and protocols about how information is shared would slide the real estate industry down the mountain into a heap where buyers and agents are forced to pore through online marketplaces and thousands of brokers’ sites to weed out scams and find possible properties. I am confident no one thinks that’s a good idea.”
Brian Donnellan, CEO Bright MLS
Masterful rebuttal from Brian Donnellan calling out Refkkin’s nonsense. At CMLS the misinformation Reffkin was putting out on stage reminded me of another meme.
But why put on such a show? What with all the hand waving? We all know what’s going on. Brian Boero’s post, “Clearing the air of Clear Cooperation” laid it out.
“Some big brokers, among whom Compass is the most vocal, want to accelerate their private listing efforts. Compass has been quite clear about their desire to become a listing destination. Given years of eroding margins, and the potential for commission compression in a post-settlement world, big brokers would like to keep as many transactions in-house as possible and fully leverage their hard-won market share. A critical mass of private, exclusive listings is also a big recruiting lever.
Why not just say that? It’s an obviously rational position, and one that is not inherently evil.”
It seems that culturally, we now rely on fear as the main way to make a point. Whether it’s immigrants ‘eating our cats and dogs’ or the ‘end of democracy.’ Just stop.
And by the way, if Reffkin or any other broker thinks that private/exclusive listings are the right strategy to increase their margins, they need to think harder about this problem. The market will turn, and coming up with band-aid solutions to current problems is not the answer. The real reason you’re failing is that you’re not delivering value to your customers. Focus on that, not on spreading fear.
Private listing networks harm sellers, buyers, and fair housing
“For the very few people who need maximum privacy over maximum price, there should be options to have a home privately listed. This practice should be the exception, not the rule, because it doesn’t serve the needs of most sellers. And most MLSs do allow sellers to opt out of having their listing online. But for those who believe they are making the decision to list with a private network for any sort of reduced hassle in the form of avoiding showings or timing delays need to understand the clear tradeoff they’re likely making in price and selling speed. “
Exactly. Many proponents of pocket listings argue that it’s about preserving the seller’s freedom to sell however they want. But that’s just a smokescreen. Sellers and buyers currently benefit from a unified marketplace, and dismantling this system would harm them, driven by the greed of larger industry players.
Many people don’t know or understand NAR’s PDAP. PDAP stands for Participant Data Access Policy. And PDAP is at the heart of today’s episode.
Rob and Greg dive deep into the topic of who actually owns MLS data. The answer, as it turns out, really depends on who you ask. But we’re living in a new world where private MLS ownership is becoming a reality, and also what are those second order consquences? Greg also catches up with Rob about Rob’s meetings with brokers and their opinions on MLS data ownership—spoiler alert: they think they do. It’s a thought-provoking discussion that may raise more questions than answers.
Watch us on YouTube!
Section 18. Right of Participant to MLS Data Feed of Listing Content (Policy Statement
Rob’s latest Substack : Why the Data Ownership Thing Worries Me
South Park Human Centipede Episode
Connect with Rob and Greg:
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This podcast is produced by Sunbound Studios
Will America’s realtors change their ways?
“Agent commissions are a key part of how the US housing market operates. Realtors representing the seller and the buyer have typically taken a large cut of the sale price – usually 5% or 6%. Now the National Association of Realtors has lost a class action lawsuit brought by homesellers, claiming these high commissions are the result of anti-competitive practices. So will new rules, agreed in the settlement of this suit, bring down the cost of buying and selling a home?”
The Notorious ROB hits the big time! The podcast also includes Michael Ketchmark as a panelist. Super interesting to hear from the host’s non-American perspective of our real estate system.
Arab MLS and CoreLogic Collaborate to Revolutionize Real Estate in the Arab Region
“A comprehensive project was swiftly executed to extend the Matrix platform to support Arabic, ensuring the user experience meets the expectations of Arabic speakers for an intuitive, modern web application. This involved a complete redesign of the UX, including the layout of reports, displays, and screens. Arabic speakers expect navigation elements, icons, and various features to be oriented and function differently compared to English speakers. These capabilities were successfully introduced in July in the Egypt MLS, powered by Arab MLS and CoreLogic. Arab MLS plans to launch in the UAE before year end.”
I wonder if they added “Palace” as a new property type.
Paragon offers App Suite
Easy-to-use apps make the MLS experience even easier
With the ICE Paragon Connect App Suite MLS members have access to both full MLS functionality and amplified agent-client collaboration.
The App Suite consists of:
The mobile app for agents: This app enables agents to access the full power of Paragon Connect with the simplicity of an app-based interface.
The mobile app for consumers: Agents and their clients benefit from connection, collaboration, and robust search capabilities powered by the Collaboration Center.
With fast, simple and on-the-go interfaces, the App Suite from ICE Paragon Connect improves communication – making the real estate process more productive and collaborative.
Learn more about the App Suite from ICE Paragon Connect. [https:/
NAR tells sellers they don’t have to list on the MLS
“A point of contention around Clear Cooperation is the requirement that, in most cases, agents must submit a listing to the MLS within one business day of publicly marketing it. In its message to consumers, however, NAR appears to take a more flexible stance, telling sellers they do not have to market their home through the MLS, but still advising them to “discuss the pros and cons with your agent.”
Real Estate News
If the National Association of REALTORS says it okay not for home sellers not to list on the MLS, then that’s the ballgame. CCP is dead.
Congratulations on Retirement, James Reynolds
“As Mr. Fisher’s first hire following NAR’s acquisition in 2003, James recruited our initial 100 Association customers in just our first 36 months of operations, laying the foundation for our growth as a leading technology company, serving over 400 Associations and over 400,000 REALTORS®.”
Legendary. One of the good guys. It’s hard to say if anyone ever “retires” from this business (that’s why we call it Hotel California) but maybe James will be one of the lucky ones that escape the gravity pull. Happy Trails James!
