Where Real Estate Gets Its Dirt

Adwerx Raises $4.3 Million

Adwerx Raises $4.3 Million in New Funding Round

““Adwerx Enterprise is gaining significant traction in real estate as firms begin to add digital marketing to their stack of technology offerings for agents,” said Jed Carlson, CEO of Adwerx. “The additional capital will allow us to accelerate the Adwerx Enterprise growth into the real estate market and beyond.”

Adwerx ranks 173rd on Inc’s 500 fastest growing companies in the U.S. with growth of 2,443 percent. The company has provided digital advertising for over 50,000 real estate professionals and other small businesses and has recently expanded its Adwerx Enterprise program in real estate, securing deals with Chicago-based @properties, leading national firm RE/MAX, LLC, and others.”

Impressive.

Hang in there Houston!

The images coming in from Houston are just mind blowing. I been talking to a whole lot of people and wanted to say to Bob, Sam, Rene, Shawn, Mario and Cindy we are all thinking about you and everyone else at HAR. Be safe.

Real Estate Tech is Hot!

The article from TechCrunch by Joanna Glasner mentioned in Paul’s tweet does a good job of putting in to perspective whey so much capital is being put in to our industry. A few interesting tidbits…

“Rising interest in real estate deals comes amid a period of generally rising property and rental prices, as well as cultural and demographic shifts that are altering longstanding patterns of household formation. There’s also a sense among investors that real estate, despite being the world’s largest asset class, has historically been slow to embrace change.”

You think?

“Sure, there have already been some multi-billion-dollar businesses like Zillow and Redfin that brought online, mobile and data analysis capabilities to the industry. But real estate VCs believe that it’s still very early innings.

“still very early innings”

“Real estate investments can deliver big returns, too. After a string of lackluster technology IPOs, tech-focused real estate brokerage Redfin reversed the trend with big first-day gains and sustained aftermarket performance. Zillow, which went public in 2011, has also been a big hit with investors, maintaining a market cap of more than $7 billion despite a history of steep losses.

For those looking for liquidity, it’s also worth noting that the real estate industry knows a thing or two about generating returns. After all, before it was co-opted by venture capitalists, the word exit usually applied to real estate.”

Love that last sentence.

Zillow is now 1 – 4

Zillow ‘Zestimates’ lawsuit dismissed

“A federal judge has dismissed a suit brought against online real estate firm Zillow that alleged its Zestimates of their homes’ value made the properties hard to sell.

In the suit, first filed in May, Glenview homeowner and attorney Barbara Andersen alleged that the estimates Zillow posts with for-sale listings essentially act like an appraisal of exact market value. Under Illinois law, only licensed appraisers can issue an appraisal. Andersen’s suit alleges Zillow is engaging in illegal practices.

Winning!

Inman says “Blow Up Upstream”

The Inman Files: Blow up Upstream – Why we should pull the plug on this expensive and risky effort

“But I still think it’s time to pull the plug on this project. I do not want to trivialize the well-intended efforts and opinions of so many hard-working people, but it reminds me of Trump’s Wall — grandiose, impractical and inspired by fear. Yes, there is a problem, but Upstream is a wrong-headed solution and a political hairball to build and gain adoption.”

Tell us what you really think Brad!

Plus some advice for new NAR CEO Bob Goldberg

“This is new NAR CEO Bob Goldberg’s opportunity to walk the talk and end a glaring example of old top-down pyramid thinking. Upstream is a classic NAR inside job, intended to benefit a small group of its overall membership.

As in most succession plans, Goldberg has about six months to blame it on the “dead pilot” (former NAR CEO Dale Stinton). Then he must “OWN IT” — good or bad. RPR is Stinton’s love child, not yours, Bob.”

In my interview with Bob Goldberg he told me that all of NAR programs were on the table for review.

Not so fast Redfin…

Early last year my company, W+R Studios, did an internal test to see how fast Cloud Streams listing alerts were compared to major portals. It confirmed that Cloud Streams’ listing alerts were the fastest in the industry, the second closet was Redfin. Some of our tests from last year showed we beat Redfin by about 52 minutes. Even Inman News picked up on the story.

Flash forward to today, when Redfin released the findings about independent study done by SSRS (I wonder where they got that idea?). In a blog post titled, “Redfin Notifies Customers About New Listings Hours Faster Than Other Top Real Estate Websites“.

“Redfin was faster to notify subscribers in almost all cases, with 94% of notifications delivered faster than Zillow, and 99% of notifications delivered faster than Trulia and Realtor.com.

“Evidence from recent data for 20 major metropolitan areas nationwide shows that Redfin is significantly and uniformly faster to notify its subscribers about newly listed properties than other leading websites such as Zillow.com, Trulia.com, and Realtor.com. said Dr. Aniruddha Banerjee, Senior Vice President of Advanced Analytics at SSRS.”

Thanks Doc. This basically confirmed what I already knew over a year ago, performance of listing alerts on major portals suck.

So that got me curious. Did Glenn’s whiz kids do something to their listings alerts that made them faster than Cloud Streams? A few mins later I had my answer.


Winner. Winner. Chicken dinner. Cloud Streams is still faster than Redfin listing alerts. And if Dr. Anirudda Banerjee says Redfin is faster than Zillow, Trulia and Realtor.com than that means Cloud Streams listing alerts are the fastest in the industry (see what I did there?) Boom.

One last thing. How did I know to check my email inbox about a listing alert? Because Cloud Streams sent me a text message. Does your MLS do that? Short answer, nope.

So instead of a listing alert sitting in my inbox for hours, I was notified immediately. Boom Boom.

Looking for a new gig?

Multiple Listing Service Director – REALTORS Association of Citrus County

“The REALTORS® Association of Citrus County, FL is seeking a Multiple Listing Service Director to run their MLS Office serving over 900 members.

The ideal candidate will manage the MLS in accordance with NAR’s policies and procedures along with state/federal laws, rules and regulations of the RACC MLS Committee.

Strong knowledge and at least 3-5 year of MLS database management with tech product overlays and interfaces is a must. The MLS Director provides staff MLS support, product recommendations, solutions and tech recommendations to the CEO.”

Find out more about this gig and others at the Vendor Alley Job Board!

Listing Bits: Flipping the Pyramid with NAR’s New CEO Bob Goldberg

If you feared more of the same when Bob Goldberg was named CEO of NAR, take heart. The rhetoric of our new leadership is focused on engagement, openness and transparency—knocking down the façade of the ‘Ivory Tower’ and facilitating dialogue with members, even those who disagree.

Bob Goldberg has been a senior executive with NAR since 1995, and his accomplishments include the launch of the REALTOR Benefits Program, the introduction of the top-level domain initiative, and the expansion of NAR’s technology partnerships via Second City Ventures and its REach Technology Accelerator. Prior to NAR, Goldberg served as senior vice president with PRC Realty Systems, the national’s leading provider of online multiple listing systems.

Bob is lauded for his leadership, recently named one of the 2017 Swanepoel Power 200 and Inman News Real Estate Influencers of 2017. Bob has forged his career on designing programs and partnerships to strengthen the REALTOR organization and drive success for its 1.2 million members. Today, he explains his approach to ushering in a new era at NAR, discussing his pursuit of transparency through social media, interviews and opportunities for Q&A. He also addresses his intention to serve members via a ‘flipping the pyramid’ model of leadership, and how he plans to empower his team with the authority to drive change. Listen to understand why Bob is an advocate of tech initiative partnerships, and how NAR can tackle the issue of professionalism among its members—with both consumers and fellow agents.

What’s Discussed: 

Bob’s pursuit of openness and transparency
How Bob plans to connect directly with NAR members
Bob’s interview with Andrew Flachner of RealScout
How Bob and the panel approached Q&A at the NAR Leadership Summit
Bob’s intention to facilitate honest discussion about industry issues
Bob’s mission to break down the façade of the ‘Ivory Tower’
– Message was controlled in past
– Initiate dialogue with dissenting voices

Bob’s ‘flipping the pyramid’ concept
– Think from member perspective first
– Encourage member engagement

The upcoming NAR organizational design study
Greg’s characterization of Bob as having a ‘vibe of inclusiveness’
Bob’s aim to be a different kind of leader
– Visionary
– Empower team with authority to drive change

Bob’s background in MLS technology with PRC
How Bob plans to assess the value prop of tech initiatives
– Cost of product
– Member use

The NAR budget process
How NAR decides to sunset a program that’s run its course
Why Bob does not advocate for a national MLS

– Not NAR’s core competency
– NAR doesn’t have funding to compete
– Better to seek partnerships with experts

Bob’s take on NAR’s role in raising the bar for agents
Professionalism with consumers and fellow members
The complexity of addressing professionalism in the industry
Bob’s willingness to be embrace social media
The world-class talent at NAR
The network effect of engagement

Resources:

NAR Leadership Summit on Facebook Live
RealScout Interview with Bob Goldberg
RealScout on Facebook

Connect with Bob Goldberg:

Bob on Facebook
Bob on LinkedIn
NAR Leadership Team on Facebook
NAR Leadership on Twitter

UtahRealEstate.com adds Cloud CMA as member benefit

UtahRealEstate.com to Offer Cloud CMA as an Exclusive Member Benefit

“This week, UtahRealEstate.com expanded its partner software program with a statewide exclusive offering of W+R Studios’ Cloud CMA product. Cloud CMA is a modern, high powered, and visually captivating Comparative Market Analysis platform that allows real estate professionals to create beautiful CMAs with just a few clicks. URE will be seamlessly integrating Cloud CMA into its MLS system so that members will be able to select properties from the MLS and work with those properties in the Cloud CMA software.”

Everybody’s doing it…

RESO announces massive update to the Data Dictionary

Real Estate Standards Organization Announces Massive Data Dictionary Update900+ data adds include new Accessibility, Showing Data, Saved Searches, Internet Tracking Features

““This is one huge leap for the RESO Data Dictionary,” said Art Carter, Chair of RESO and CEO at CRMLS, the nation’s largest MLS. “More importantly, this is a giant spring forward to greater innovation …..”

Yup. Lots of cool stuff here.

Sponsored By Paragon Connect