Where Real Estate Gets Its Dirt

Industry Relations Podcast: Whadup with dat PDAP?

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

8.3)

Rob’s latest Substack :  Why the Data Ownership Thing Worries Me

South Park Human Centipede Episode

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

CoreLogic

Notorious VIP

The Giant Steps Job Board

This podcast is produced by Sunbound Studios

The Economist interviews Rob Hahn on Money Talks podcast

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 introduces Matrix MLS platform

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 Suite from ICE [Sponsor]

Paragon offers App Suite
Easy-to-use apps make the MLS experience even easier

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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://www.icemortgagetechnology.com/products/paragon-connect-app-suite]

Did NAR just blow up CCP?

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.

James Reynolds to retire

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!

Dana Bennett is new CEO of REColorado

Dana Bennett Appointed President and Chief Executive Officer of REcolorado

“I’m excited to bring fresh insights from my previous roles at REcolorado and other organizations, to help propel the company into its next chapter. I’m eager to connect with brokers to understand their needs, and implement initiatives that enhance our data offerings. In this highly competitive time for the MLS industry, I see this as an incredible opportunity to not just navigate the challenges, but to use them to elevate REcolorado—creating value for our subscribers and partners while positioning us for success.”

I think most vendors will remember Dana, due to her previous role as Vice President and Chief Business Development Officer at REcolorado. Lots of palace intrigue going on in Denver so she’s definitely got her work cut out for her!

Katie Johnson, chief legal officer at NAR departs.

NAR Chief Legal Officer Katie Johnson is ‘stepping down’

“As we make this transition, our priority is ensuring business continuity and remaining laser focused on shepherding NAR through this time of significant industry change.”

Inman has asked why Johnson is stepping down, when she is stepping down and who will replace her. We will update this story if and when responses are received.”

Inman News

I think the writing was on the wall when Nykia got the full-time gig at NAR. Many had Katie pegged as the heir apparent for the CEO position once Bob Goldberg retired. But the New York Times sexual harassment stories and the Sitzer/Burnett case had other plans. So why stick around? I didn’t know her well, but she did take my few phone calls (one?) and respond to my emails. She was always cordial whenever we met in person. And unlike many detractors, I think she earned every dime she got from NAR. In another world I would love to hear all the behind the scenes stories she must have.

Good luck, Katie. And most of all, good luck, Nykia. You own this now

Industry Relations Podcast: Tales from the Road

After missing a recording last week (due to travel schedules) the boys are back with another jammed pack episode of Industry Relations.  In this week’s episode Rob and Greg discuss recent Blueprint conference in Las Vegas, CMLS 2024 in Seattle and REColorado new subscriber agreement.  And they sprinkle a little CCP talking points just for good measure.

Watch us on YouTube!

Pictures of Greg’s sister, Pilar, winning her own award

Pictures of Greg presenting at CMLS 2024

HousingWire post on REColorado acquisition

Greg’s take on Rob Reffkin’s CMLS 2024 interview

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

CoreLogic

Notorious VIP

The Giant Steps Job Board

This podcast is produced by Sunbound Studios

REcore Announces MLS Buyer Registry

REcore Announces Launch of MLS Buyer Registry: Addressing Compliance, Protecting Agents, and Streamlining Workflows

“MLSs are now tasked with ensuring compliance with buyer agency agreements, and we saw the opportunity to not only solve that problem but also add real value for agents,” said Katie Smithson, Chief Revenue Officer at REcore. “The MLS Buyer Registry provides more than just compliance – it introduces new ways for agents to manage buyer relationships, resolve disputes, and streamline their processes.”

REcore

Very clever. Agents fill out a form when they have a buyer’s agreement signed (no forms need to be uploaded). When a buyer reaches out to an agent to see a property, agents can quickly check if the buyer is already represented, verified by the digits of the buyer’s phone number (not a phone call), and make a decision. Simple. Each MLS will decide whether this is mandatory or not. The Buyer Registry can be linked from the MLS dashboard, through a link in the MLS system, or integrated further with REcore’s REcenterhub product. Full disclosure, I’m on the board of REcore.

What I like about this is that REcore isn’t trying to change the world. They see a need, have a simple solution, and have put it out there. I’ve often been critical of MLS organizations trying to become vendors, but this is an example of how they can succeed. It’s ‘scratching their own itch’ on a much larger scale.

I’m sure they’ll receive feedback from their MLS customers on what to improve, but the important thing is they are offering solutions. Too often, I see companies overthink their solutions. The best product managers are your customers. So just ship!

Sponsored By Paragon Suite from ICE