Where Real Estate Gets Its Dirt

Listing Bits: A New Approach to MLS Consolidation with Kevin McQueen of T3 Sixty

88 MLSs serve 80% of REALTORS. The remaining 20% are served by the rest—that’s nearly 600 MLSs! We know that consolidation will make it much easier for brokers to serve consumers, but what is the best way to approach the issue? How can we work to understand the 20% in rural, small town and resort communities and bring that group in to alignment with the 80%?

 

Kevin McQueen is the President of the T3 Sixty MLS Division. He joined the firm with the express purpose of facilitating MLS consolidations, mergers and collaborations. Kevin has been a real estate consultant since 2000, when he founded Focus Forward to help MLSs and associations navigate the evolution of the industry. Prior to consulting, Kevin spent nine years as the CEO of Realcomp and eight years running technical operations for BORIS Systems.

 

Today Kevin shares his path to consulting, from his early days with BORIS to his experience consolidating MLSs in Michigan at Realcomp. He explains the role of a consultant in facilitating strategic thinking and what led to his collaboration with T3 Sixty. Listen in to understand Kevin’s mission to pick up the pace of MLS consolidation, addressing problem areas individually with a quiet, flexible approach.

 

What’s Discussed:

 

Kevin’s early experience with MLS technical operations

How Kevin transitioned to MLS leadership at Realcomp

Kevin’s insight on the benefits of consulting

Why Kevin chose the name Focus Forward

The role of a consultant in facilitating strategic thinking

-Discussion about what’s possible

-Organizational assessment

Why Kevin sought a partnership with T3 Sixty

The value of accurate data in decision-making to supercede emotion-based decision making in boardrooms

The shrinking number of MLSs from 2000 to 2018

Kevin’s mission to pick up the pace of MLS consolidation

-88 MLSs serve 80% of REALTORS

-20% served by the rest (nearly 600)

Kevin’s take on NAR initiatives as dividing vs. unifying

Kevin’s Do’s and Don’ts of MLS consolidation

-Be flexible, modify business model

-Don’t go into takeover mode

Paul Prince’s quiet and respectful approach to consolidation

How Kevin’s MLS map initiated a conversation

T3 Sixty’s approach to addressing problem areas individually

 

Resources:

Number of MLSs By State

Paul Prince Case Study

T3 Summit

 

Connect with Kevin McQueen: 

T3 Sixty

Email kevin@t360.com

Kevin on LinkedIn

Kevin on Facebook

3 things I learned at the ITIF panel on “Using Technology to Make Real Estate More Competitive”


I happen to be in Washington D.C. on a spring break trip with my family so I was able to attend the event live. I know many of you caught the live stream. Here’s the top 3 take-aways.

1. The panel’s moderator, Daniel Castro, didn’t seem to grasp the nuances of a real estate transaction and listing process. It seemed, at least to me, he was learning on the job. To his credit he wasn’t giving up. He believed in his view point, but needed some better arguments.

2. Speaking of the panel, I just have say how great it was to see Brian Larson back in action. Man I miss that guy, and to see him make clear and cogent arguments was a sight to see. Brian is a stud and represented the MLS industry as well as it could be. He should be in the CMLS Hall of Fame….oh wait that already happen. : )

3. Upstream might have some explaining to do (to the DOJ that is). I thought this bit was really telling. I’ve heard many people have concerns about Upstream’s business model, but this was a whole new level. David Kully former Chief of the Litigation III Section of the U.S. Department of Justice’s Antitrust Division. Basically the guy who was giving NAR the screws. Mr. Kelly stated (starts about 23:05 in the video) when he looked back at the case against NAR it was less about how it “protected a particular business model” and more about “how brokers that perceive a threat might act collectively to try to counter-act that threat”. He went on, “You see things like…Upstream..seems like a solution in search of a problem… and if I had my DOJ hat on ..I might think…Well, what’s that all about?, why is that happening, is that something out there to address a threat in the industry.” Boom goes the dynamite.

One last thing. The FTC-DOJ did announce they are holding a workshop on “What’s New in Residential Real Estate Brokerage Competition”. You can find out more here.

iLOOKABOUT to acquire Stratus Data Systems

iLOOKABOUT and Stratus Data Systems Enter Into Non-Binding Letter of Intent

Pursuant to the terms of the non-binding LOI, Stratus will continue to operate as its own business unit under the leadership of Mr. Grass, as a wholly owned subsidiary of iLOOKABOUT.

Even the Canadians are doing it.

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