The following remarks regarding the proposed “Clear Cooperation Policy” were presented by CMLS CEO Denee Evans to the NAR Multiple Listing Issues and Policy Committee on Saturday in San Francisco. The Committee voted to approve the policy. It was subsequently approved by the NAR Executive Committee. A final vote by the NAR Board of Directors is scheduled for tomorrow (Monday, November 11).

“Good morning, I’m Denee Evans, CEO of the Council of Multiple Listing Services, CMLS. CMLS is the national trade association for MLSs with 226 MLSs members serving over 1.4 million subscribers.
 
I’m a firm believer that before offering solutions, we should be very clear about the problem we are trying to solve. Our problem today is clear: ensuring that cooperation remains the heart of organized real estate. Competitors – fierce competitors – coming together and cooperating to ensure consumers have equal opportunity to homeownership must be preserved. This is a stand we must take because cooperation between real estate professionals on a shared
platform is in the best interest of MLSs, REALTORS, consumers and the residential real estate market as a whole.
 
To be clear, this policy is not about getting between the REALTOR/ client relationship. This policy is not about the consumer losing their right to privacy. This policy is not about “coming soon” listings. This policy is not about endorsing or shunning any business model.
 
This policy is about stomping out dark silos of information. This policy is about doing what is in the best interest of the consumer. This policy is about making sure all agents have access to all listings and are able to share them with their clients regardless if they know the “right agent” or belong to the right groups.
 
REALTORS, please know that this policy protects your right to serve your customer by ensuring that you have access to all the inventory.
 
This policy is about clearly articulating the value of MLS —cooperation among competitors for the benefit of consumers.
 
There is no question that cooperation is in the best industry of organized real estate and the consumer. CMLS is in full support of the proposed MLS Policy Statement 8.0. We urge the Committee and the NAR Board of Directors to pass this proposal now, not in May.
 
There are legitimate questions about implemention in local markets. For that reason, and upon review of feedback, comments, questions, and discussion, CMLS recommends extending the implementation deadline to May 1, 2020.
 
CMLS in committed to working with our members, NAR, brokers and stakeholders to produce and publish best practices, resources, educational materials and guidelines so MLSs have the information and tools to implement effectively.
 
We encourage committee members and everyone in this room to educate themselves and others on what this policy is and what it is not. When you clearly understand what problem this policy is trying to solve, the decision is clear.”

#makingthemarketwork

Well said. Final vote is today. #putitonthemls

MetroList, BAREIS, and SFAR Announce the Creation of RE California, A Technology Initiative By and For MLSs

“RE California will provide the ability for listing data for all participating MLSs to be entered into one MLS system and immediately be real-time synchronized and available in other authorized MLS systems using a common database that is Data Dictionary 1.7 platinum certified.

At launch, MetroList, BAREIS and SFAR’s more than 33,000 subscribers will have full access to all Active and Off- Market listings, including Solds. Additionally, the RE California database will contain an initial information database of over 2.9 million MLS comparable and active listings – representing the largest single MLS database and geographic coverage area in California.”

They are using Rapattoni for the tech. Developing…

Cooperation Is Vital To Our Industry

“As the organization that serves to advance multiple listing services through collaboration, CMLS gathered feedback and promoted conversations to explore the implications and opportunities of Policy Statement 8.0,” said Denee Evans, CEO of CMLS. “CMLS believes that cooperation between real estate professionals on a shared platform is in the best interest of MLSs, brokers, consumers, and organized real estate as a whole.”

Based on industry feedback, CMLS recommended an amendment to the proposal delaying the implementation deadline of March 1, 2020 to May 1, 2020. This will allow MLSs and their membership to engage the local market and evaluate best practices.

Nice to see CMLS step up.

Why We Should All Support Clear Cooperation

Redfin Supports Clear Cooperation
We hope it’s approved. After years of giving Redfin.com visitors early, exclusive access to Redfin listings, we wholeheartedly support this policy. We aren’t doing this because it’s good for Redfin: we still have thousands of listings that we would love to reserve for our own website. But we know that the policy is a crucial protection for consumers, especially members of minority groups who, research shows, are often the last to find out about pocket listings.

My man-crush on GFK (Glenn Fucking Kelman) continues.

#PutItOnTheMLS

The Cost of Zillow Offers vs. a Traditional Sale

“Now many analysts have simply compared our service fee to the 6% agent commission costs from a traditional home sale. But this comparison using only commissions ignores that a home seller has to manage, or incur other costs: cleaning the house, staging, HOA fees, or the cost associated with the misalignment of a home sale, such as carrying two mortgages, renting an apartment, etc., when selling traditionally. These are meaningful costs that add up quickly. With Zillow Offers, a home seller doesn’t have to worry about doing any of these themselves. What’s more, because of our scale, the costs associated with repairs when we do them tend to be lower than what an individual homeowner would pay if they contracted out the work themselves as individuals.”

Errol Samuelson

Great post by Errol. He is exactly right. Many people focus on the sales price and we are seeing those getting closer and closer. What many people don’t consider is the costs associated with the sale. Sometimes those costs don’t come up in a CMA net sheet.

We can argue the percentage of homes that will be sold in the future via iBuying but you can’t argue that it’s not going to be significant.

I’ve written this before but what brokers and agents need to realize is that just like they should never walk into a listing presentation without knowing the Zestimate, they should also know what iBuyers are willing to offer too.

This is a perfect way for agents to be that trusted advisor that gives their client all the necessary information to make a good decision. IBuying is a huge opportunity for agents and should be embraced and not feared.

I just wanted to send a quick note of thanks to the National Association of REALTORS CEO, Mr. Bob Goldberg.

Why do you ask? Well, let me tell you. While the NAR Annual Conference is the biggest show of the year, having a half-day on Monday always seems a bit too much. We have a large team going and that Monday morning on the trade show floor was always tough.

So, thank you, Bob and your team for deciding to cut the NAR Annual trade show short by one day (Monday). This means we can go home to our families sooner, and we save money on travel and hotel expenses.

So from me and the livers of vendors everywhere, thank you, Bob!