Where Real Estate Gets Its Dirt

Listing Bits Podcast: Dan Fortin of Lone Wolf Technologies on designing a proper Foundation

Dan Fortin was one of my favorite people I met working at Lone Wolf. He came over from the Instanet acquisition and has had a front-row seat to see big changes in the industry. From Lone Wolf acquiring 8 companies, 5 of them in less than 9 months, to the challenges of being a forms company during COVID when everyone wanted a specific form, and they wanted it NOW! Sounds familiar, eh?

We discuss Dan’s background, the lessons he’s learned over the 10 years, and how taking a data-driven approach to making decisions has helped him during his career.

We also get to talk about Lone Wolf’s recent announcement on its newest platform, Foundation, and the tremendous amount of work that took. We also delve into product, design, and what the future holds for Lone Wolf.

For more about Lone Wolf Foundation please visit here.

To connect with Dan check out his LinkedIn profile.

New bidder emerges in REcolorado sale

The plot thickens!

I just learned via an email that MRI Software, a private equity firm a privately held company, is putting a bid in to buy REcolorado. Here’s the excerpt from the email’s “Official Statement”.

“MRI Software, the parent company of CTM eContracts, has submitted an Indication of Interest (IOI) for the purchase of REColorado.

We decided to take this action after learning of the potential sale of REColorado, when it was reported publicly.

Many of you are already familiar with MRI Software, but for those who are not, here is some background: MRI provides the CTM eContracts to nearly 40,000 subscribers in Colorado.  The software was first introduced in 2003.  MRI, a U.S.-based leader in real estate technology, has been in business since 1971. You can learn more more about MRI and about our open-and-connected approach to software integrations here.”

MRI Software

You can read the full statement here.

Just to catch everyone up, it was first reported that a single person, Joseph Burks, was buying the MLS organization. Under the name of MAZL, LLC. From my research Joesph Burks is, “one of the largest shareholders in the early creation of CTM eContracts, a widely used contract software for real estate transactions.’ was a large shareholder in CTM eContracts, which was sold to MRI Software in 2019.

Denver Metro Associaiton of REALTORS (DMAR) wrote an “FAQ” on their blog back in June 30th stating,

“MAZL is not a private equity firm, nor is a private equity firm a funding partner in the proposed sale.”

DMAR

Now it appears that a private equity firm has offered to purchase REcolorado MLS. Rob and I went over in detail on our Industry Relations podcast how a private equity firm might approach running an MLS organization.

I also posted a thread on Twitter (X) titled, “So you are a PE firm and wanna get in to the multiple listing services (MLS) game? Here a thread of how I would do it. A thread.“

So far no word from DMAR or SMDAR.

***THIS POST HAS BEEN UPDATED AT 7:57AM 7/25/24. MRI Software is not a private equity firm, but a privately held company. I also clarified information regarding Joesph Burks (previous) ownership stake in CTM eContracts.***

Industry Relations Podcast:  Meltdown: Is the End Near?

The August 17th deadline is almost here, and the industry is abuzz with talk of potential changes to MLSs and associations. Rob and Greg discuss the latest developments in the NAR settlement with the DOJ and its potential impact on compensation models, forms, and client relationships. With disruption looming, they delve into the hot topic of buyer agent commissions and agreements, as well as how to continue demonstrating value to clients in this ever-changing landscape.

Watch us on YouTube!

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

CoreLogic

Notorious VIP

This podcast is produced by Two Brothers Creative 2024.

See you there!

The Queen’s Gambit

Annie Ives, CEO of VestaPlus

San Diego MLS Selects VestaPlus to Increase Data Integrity and Add AI Compliance with Checkmate

“The removal of offers of compensation from MLS represents a watershed moment of change for our industry,” Annie Ives, the CEO of VestaPlus, said in a statement. “As an MLS operator and vendor, it is vitally important that we implement new compliance tools that will enable the transition for real estate agents and brokers in the best possible way. We are anxious to partner with our MLS peers to implement these services for the benefit of our industry professionals.”

Annie Ives, CEO of VestaPlus

I’ve been working with a lot of MLS organizations that have been branching out into the vendor space. It can be humbling. You build a solution that really helps your MLS solve a big problem. The natural thing to think is, “I bet other MLS orgs have this same problem.” So you go to market. And that’s where the fun begins.

It’s hard to find a way to win. You need to have the right pieces in place. For Annie Ives, I think a key part is having a timely solution, and the addition of some key talent. Enter Kelly Robinson. It’s great to see their continued success together. The recent announcements of Staten Island and SDAR switching to Checkmate are good wins, and I’m hearing there are several other announcements ahead. It’s great to see Annie’s persistence pay off.

Lone Wolf Foundation [Sponsor]

My thanks to Lone Wolf for sponsoring this month’s Vendor Alley. Lone Wolf is rolling out its new platform, dubbed Foundation.

Lone Wolf Foundation is an all-in-one platform that gives real estate professionals a modular approach to their software. Users can choose the Lone Wolf software they need and integrate third-party solutions as well to personalize their tech stacks. Its continuous data flow and connected experience means real estate professionals have the shared data, applications, and security they need to cover every step of what they do. One platform, one login, one experience, one set of contacts from lead to close.

Having worked at Lone Wolf I know what an incredible effort it has been to get Foundation to the market. Great to see that they have really focused on the design of the product. Super clean.

To learn more visit here => Lone Wolf Foundation

CoreLogic launches OneHomeowner

CoreLogic Launches OneHomeowner – A New Engagement Platform for Agents to Nurture Relationships and Win Business 

“Today’s clients have portals to manage their healthcare, personal finances and education, but there isn’t anything to manage their home,” said Kevin Greene, general manager of Real Estate Solutions at CoreLogic. “CoreLogic solves this problem with OneHomeowner. Just as importantly, it gives agents an effective tool to ​stay connected in a valuable way ​and deliver an exceptional ​homeowner ​experience to their clients ​for years​.”  

Kevin Greene, CoreLogic

With housing inventory levels still at record lows it is going to be important that brokers and agents look at other avenues to retain and grow their business. I think there is a tremendous opportunity for agents who go beyond just the buy and sell aspect of their business and look for opportunities on the nurture side too. They already have their trust, what other services can they provide?

RIP Richard Simmons

While not the biggest news this past week the passing of Richard Simmons got me a bit nostalgic. I hired Richard Simmons to do a meet and greet at our booth at the 2004 NAR Annual Convention. This was on the heels of the NAR Annual Conference in 2003 where we had hired Fabio. But that’s another story. Fabio was a huge success and drew a huge crowd at the eNeighborhoods booth. So naturally we thought, let’s get another celebrity! After some brain-storming we settled on Richard Simmons. You can see page one of the agreement we did with the company repping him below and an ad we ran in REALTOR Magazine:

He was a lot of fun. I remember him calling our wives for a prank, “Hi Honey, guess who’s with your husband right now?!” He would also record voice mail greetings for our cell phones. “Hi this is Richard Simmons and you’ve reached Shane’s voice mail!”

Another thing I remember was how a lot of conference attendees came up and told stories about how he had motivated them to live a more healthy life. When I saw him having these conversations (sometimes he would pull them aside) you could see something in his eyes…he truly cared. Such a great legacy.

VestaPlus’s Checkmate adds new partner

VestaPlus™ and Staten Island Board of REALTORS® Collaborate to Propel Real Estate Data Compliance with Checkmate™

“Sandy Krueger, CEO of Staten Island MLS, said “Data integrity is the key to the service we provide to our subscribers and the consumers they serve. We look forward to enhancing our services using Checkmate™ and we are pleased with the working relationship we have already established with VestaPlus™.”

Annie Ives, CEO of VestaPlus™, shared, “We are excited to support Staten Island MLS with their goals of enhancing MLS data accuracy and streamlining internal processes.”

SIBOR and VestaPlus

VestaPlus is making some moves!

Industry Relations Podcast: Industry Soup: Why the Human Touch Still Matters

What happens when industry news is quiet? Industry soup. In this episode, Rob and Greg discuss various topics with an effort to draw parallels to real estate. From their weight loss strategies and detailed plan for a 60-day weight loss regimen to Tesla cars and the emotional connection people have with their vehicles. This conversation covers a lot. 

Touching on simplicity in design and analog experiences in a tech-driven world. Rob and Greg explore the potential future of technology and the importance of human interaction in both real estate and tech companies.

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

CoreLogic

Notorious VIP

This podcast is produced by Two Brothers Creative 2024.

Sponsored By Lone Wolf