Where Real Estate Gets Its Dirt

Toby’s Eagle Scout Project

As he nears the end of his Scouting journey, my son Toby is starting his Eagle Scout project, which must be completed through donations. He’s chosen a great project: refurbishing and restoring one of the bleachers at his high school. The bleachers are used by the tennis team, which Toby is part of.

Venmo Link -> Toby’s Eagle Scout Project

Wurzer asks, “Dude, where’s my listing?”

Dude, Where’s My Listing?

“The other day I posted some Unsolicited Advice About Clear Cooperation and, in this post, I want to follow-up on my promise to address some of the tired arguments trotted out in favor or against Clear Cooperation. Here we go:”

Both blog posts are a good read. As someone who has been a bit hyperbolic about the implications of removing CCP it’s great to read a measured (and informed) opinion that we all need to calm down a bit.

CRMLS and Bright MLS now allow “guest access”

California Regional MLS and Bright MLS Reach Agreement to Provide Reciprocal Listing Data Access for Each Other’s Matrix MLS Systems

“California Regional MLS (CRMLS), the nation’s most recognized multiple listing service, has teamed up with Bright MLS, the largest MLS on the east coast, to offer their users reciprocal data access (aka “guest access”) to each other’s listings. CRMLS currently has 127,000+ active listings while Bright MLS has 115,000+.”

To me, this is kind of a ‘proof of concept’ play—meaning, ‘let’s build this and see what happens,’ which is smart. I’m not sure how many referrals this will generate from people moving from the East Coast to the West Coast (and vice versa), but I’m betting they’ll learn something new—something we haven’t thought of. I also like the vibe of promoting further cooperation, which the MLS (especially in these times) needs to lean into more.”

Industry Relations Podcast: Endless Opportunities with Jack Miller of T360

Overview:

Rob and Greg talk with Jack Miller, CEO of T360, about the recently released “Opportunity Report” and its significance for the real estate industry. The discussion focuses on how real estate leaders can navigate current challenges and seize opportunities in the face of regulatory changes, declining transaction volume, and industry consolidation.

Key Topics:

1. The Opportunity Report:

• A newly released report from T360, available for free at theopportunityreport.com.

• Provides a 100-page analysis of risks and opportunities in the real estate industry.

• Includes insights from over 50 industry leaders on how to approach challenges in the current market.

2. The Role of the MLS:

• Jack emphasizes the importance of the MLS as a marketing and data platform, even without mandatory compensation rules.

• MLS consolidation is expected, with strong MLSs providing more value to their users.

3. Legal and Regulatory Pressures:

• The real estate industry is under scrutiny from the DOJ and faces multiple lawsuits.

• These challenges present an opportunity for brokerages and MLSs to innovate and improve transparency.

4. Future of Associations:

• Jack discusses the potential for separating MLS and Realtor associations and restructuring governance.

• Associations need to adapt and provide more value beyond just MLS access to remain relevant.

5. Opportunities in a Challenging Market:

• Jack urges leaders to lean into change and view the current market as a chance to innovate and grow.

• The report highlights that companies that embrace change during tough times can emerge stronger.

Watch us on YouTube!

Reach Out:

Jack Miller on LinkedIN

Download the Opportunity Report at theopportunityreport.com.

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

Listing Bits Podcast: Austin Allison, CEO of Pacaso

Overview:

In this episode, Greg Robertson chats with Austin Allison, CEO of Pacaso, about his entrepreneurial journey in real estate, starting with Dotloop and transitioning to his current venture, Pacaso. The discussion covers lessons learned from his early career, how Pacaso is revolutionizing second home ownership, and insights into raising capital through innovative approaches like Regulation A.

Key Takeaways:

1. Austin’s Journey in Real Estate:

• Austin Allison started his real estate career early, getting his license at 18. His early experiences selling homes during college inspired him to create Dotloop, which he later sold to Zillow.

• The entrepreneurial lessons from Dotloop, including navigating challenging markets and working with large real estate brands like Keller Williams, set the foundation for his future ventures.

2. The Birth of Pacaso:

• After selling Dotloop, Austin co-founded Pacaso, a platform aimed at democratizing second home ownership by enabling people to co-own luxury homes. The idea stemmed from his own experience of buying a second home and realizing most vacation homes sit unused for much of the year.

• Pacaso allows people to purchase a share of a vacation home, creating more efficient and accessible ways to own luxury properties.

3. The Challenges of Scaling a Startup:

• Pacaso had rapid growth, especially during the early days of the pandemic when people sought second homes, but faced new challenges in 2023 due to rising interest rates and a cooling real estate market.

• The company has refocused on profitability and expanding its market presence globally, with operations in the U.S., Europe, and Mexico.

4. Innovative Fundraising through Regulation A:

• Pacaso recently explored raising capital through Regulation A, a public fundraising method that allows retail investors to buy into private companies. This method democratizes access to investment opportunities typically reserved for institutional investors.

• Austin believes this approach aligns with Pacaso’s mission of making second home ownership more accessible and also raises brand awareness by turning investors into advocates.

5. Future of Pacaso and Second Home Ownership:

• Pacaso aims to continue expanding its product offerings and entering new markets. While the current focus is on high-net-worth individuals, Austin envisions future opportunities to lower the entry point for ownership, making the Pacaso model more accessible to a broader audience.

• Austin emphasizes the long-term potential of Pacaso and the importance of scaling the business carefully to meet the demands of a large, untapped market.

Reach Out: 

Austin on LInkedIN

Find out more about Pacaso

• Learn more about Pacaso: Pacaso.com

Explore Regulation A investment opportunities with Pacaso.

Our Sponsors

Trackxi – Real Estate’s #1 Deal Tracking Software

Giant Steps Job Board – Where Proptech gets hired

Production and editing services by:

Sunbound Studios

Ben Graboske leaving ICE?

Word on the street is that Ben Graboske may be leaving ICE. Can anyone confirm this?

Ben is an OG in the industry and responsible for one of the smartest acquisitions in the industry, acquiring Tarasoft (which became Matrix) while he was at CoreLogic, which is now the largest MLS vendor in North America.

After moving to Black Knight he transformed their MLS solutions team and appointed Lucie Fortier as EVP of Data and Analytics and the MLS team. I had a great time interviewing Ben and Lucie on my Listing Bits podcast last year.

Not sure if this was his plan from the beginning? I can’t imagine help shepherding the protracted ICE deal along was fun. Maybe a new venture? Who knows??

CMLS takes a stand on CCP

CMLS urges NAR to keep Clear Cooperation in new letter

“The debate over NAR’s Clear Cooperation Policy is intense and complex,” CMLS CEO Denee Evans said in an open letter Friday afternoon. “Our position is measured and simple: CCP should remain in place. Modifications should preserve the spirit and effect of the policy. The CMLS Board of Directors has arrived at this conclusion after careful consideration of the objections to CCP.”

Bravo!

Exciting news from ICE [SPONSOR]

We are thrilled to announce that Leesa Baker has joined our team as the new Director of Sales! We’re confident that she’ll bring tremendous value to our team and customers with her extensive experience and success in the MLS industry. 

Join us in welcoming Leesa to ICE MLS Solutions!

Inman acquires Blueprint

Very smart move. I had only attended Blueprint twice, but it was clear that there was a broader world of proptech that wasn’t being addressed by Inman or other real estate conferences and news sites. Blueprint covers a wide range of proptech companies, including innovations in how homes and buildings are constructed. It also attracted more of the venture/investor crowd, with a designated area where founders and entrepreneurs could pitch directly to potential investors.

When I attended the Blueprint conference last September, I ran into Emily Paquette, CEO of Inman, walking the trade show floor. She stopped, said hello, and we talked for a bit. At the time, I thought she was just scoping out the potential competition. In hindsight, with the residential side in such turmoil, it’s easy to see why Inman and their private equity partner, Beringer Capital, were ready to make expand their customer base and make an investment.

Aligned Showings passes 2 millionth mark and introduces usage-based pricing

Aligned Showings Reaches 2 Millionth Showing and Introduces Usage-Based Pricing

“Having booked over 2 million showings across our MLS partners is a huge milestone for us. We continue to add new features to Aligned Showings, which has led to over 91% of active listings using the platform in RMLS alone,” stated Kurt von Wasmuth, CEO of RMLS in Portland, Oregon.”

Many MLS software solutions are bundled or provided at little or no cost. The drawback to these tethered solutions is that they limit choice and competition. Additionally, many of these vendors require licensing and terms that MLS organizations would rather not concede. As the saying goes, ‘When the product is free, you’re the product.’

With Aligned Showings usage-based pricing, MLS organizations can now offer more choice to their agents without surrendering unwanted or aggressive data usage rights.

Sponsored By Paragon Suite from ICE