Where Real Estate Gets Its Dirt

CRMLS first MLS Provider to break 100,000+ members

CRMLS to Begin 2020 As First MLS Serving 100,000+ As Ventura, Pasadena, and Palm Springs Vote to Participate

“CRMLS will offer its listing data, technology products, services including compliance and licensing, training, and 7-days-a-week customer support to members of each new Association.

These benefits are the same as those offered currently to CRMLS’s 98,000 users across the state of California. With the January 2020 addition of members from these Associations, CRMLS will reach over 100,000 real estate professional users.

“This is an unprecedented day for CRMLS,” said CRMLS CEO Art Carter. “It’s a huge honor to serve the nation’s largest MLS constituent of real estate professionals. I know everyone here is excited to start working with our new users in Ventura, Pasadena, and Palm Springs.”

Boom! This is huge news. Congrats to Art, Adrese, Sarah, Ed and Rob and the rest of CRMLS for this huge accomplishment! Nice way to end a decade.

All I want for Christmas is for NAR to fund RESO a million dollars next year

Now more than ever I feel that RESO has a lot of momentum of helping the industry crack the problem of standards. Many people have led to this stage. I credit Jeremy Crawford for really transforming RESO from a small group of dedicated members to a large industry powerhouse made of people from all roles of organized real estate to help push standards further.

I’ll also give credit to Art Carter and Rebecca Jensen. Both prodded (shamed?) a lot of us to be more involved.   Art was also key in the hiring of Sam DeBord. Sam brings a business acumen to the RESO leadership that I believe is a crucial step in helping make standards a reality.

At the time of his hiring, I wrote  the industry needs to “step up and give Sam and RESO our full support.”

That time is now. I’ve heard that NAR budget for RESO is less than $300K a year. That is shocking. When I think of the millions of dollars spent on RPR, AMP, and Upstream it boggles my mind. Less than $300K?

The arguments for standards in real estate data don’t need to be re-stated here, but to keep this momentum going, RESO needs proper funding. Membership dues and events can only do so much.

In the most recent episode of my podcast, Industry Relations, I recapped the biggest new events of the decade. One of them was the accession of Bob Goldberg to the role of CEO for the National Association of REALTORS. Bob has stated and has delivered on the promise of being more inclusive, wanting to be a partner to new technology companies, and therefore keep NAR members in the mix. I can’t help but think the role of standards fits perfectly into this message.

So on Christmas Eve and the second day of Hanukkah, all I want is for NAR to bring RESO funding to a level where they can do the work needed to bring standards to life.

FMLS signs exclusive deal for appraiser members

FMLS Reaches Exclusive Agreement to Provide DataMaster as a Free Member Benefit to Georgia Appraisers and Reduces Appraiser Membership Fees

“DataMaster is considered the gold standard for appraisal data management, and FMLS is the only MLS in the state with this exclusive partnership,” explained Jeremy Crawford, President and CEO of FMLS.

“We’re also going to reduce appraiser membership fees for accessing tax data, and add free, state-approved CE classes for appraisers. In addition, FMLS is expanding appraiser access to statewide tax data in all 159 counties and reducing lockbox key fees while removing the requirement to pay fees in person,” Crawford concludes.

Sounds like a great deal for appraisers. Congrats to DataMaster and FMLS.

Project Christmas Tree

W+R Studios had a contest at our year-end team meetings. We had two teams decorate Christmas Trees with a limited amount of supplies. Then the whole company voted on which one came out the best.

Happy Holidays everyone!

Industry Relations Episode 41: 10 Defining Moments & Trends in the Last Decade of Real Estate

On January 1, 2010, organized real estate was still reeling from the recession. Dale Stinton was steering the ship at NAR. Zillow was seen as the enemy of the MLS. Real estate software was meh. Agent teams were rare. Nearly all brokerages took a split. Selling your house online seemed outrageous. And we still signed documents in pen.

On this episode of Industry Relations, Rob and Greg are looking back at the last 10 years in real estate. They discuss the passing NAR’s MLS Statement 8.0 Clear Cooperation Policy, debating the significance of the office exclusives loophole and how it might lead to government involvement. Our hosts also express their disappointment around the Newsday investigation in Long Island, Testing the Divide, challenging brokerage leadership to make a strong statement against the egregious racism it uncovered. 

Greg and Rob go on to share their top 10 defining moments and trends with the biggest impact on the industry over the last decade, describing how the rise of agent teams, 100% commission brokerages, the iBuyer model and consolidation have transformed organized real estate. Listen in for insight into how NAR’s decision to fund RPR and Upstream changed the way the MLS saw Zillow and explore how the space has evolved from 2010 through the end of 2019.

Editor’s Note: We did record an Episode 40 that was never aired. It was about Policy 8.0 but wasn’t ready before the vote. After the vote passed we decided it didn’t add to anything to the issue.

What’s Discussed: 

NAR’s passing of the MLS Statement 8.0 Clear Cooperation Policy

Rob & Greg’s take on the Newsday investigation in Long Island

How the loophole in 8.0 could lead to government involvement

The 10 defining trends/events in the last decade of real estate

  1. The end of poorly designed software
  2. The rise and domination of agent teams
  3. The transition in leadership at NAR
  4. Opendoor pioneering the iBuyer model
  5. Zillow’s acquisition of Trulia
  6. 100% commission brokerages
  7. Consolidation and the influx of capital
  8. The practice of buying agents/agent teams
  9. The mainstreaming of digital signatures
  10. NAR’s decision to fund RPR + Upstream

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Resources:

MLS Clear Cooperation Policy

Compass Pre-Litigation Letter to Bright MLS

Bright’s Response to Compass

Newsday Documentary: Testing the Divide

Rob’s Blog on the Newsday Piece

1000watt Article on Real Estate Software

The Millionaire Real Estate Agent by Gary Keller with Dave Jenks and Jay Papasan

Ben Thompson Interview with Rich Barton

Our Sponsors:

Cloud MLX

The Red Dot

RE/MAX acquires First

RE/MAX Acquires Data Science Startup First, Continuing the Brand’s Technological Transformation

“The four-year-old, North Carolina-based technology startup is known for creating the First app, an intelligent coaching platform that makes it easy for agents to identify likely sellers within their own network of contacts. With a focus on helping agents identify future listings, the app prioritizes who agents should reach out to and when, so they may strengthen current relationships when it matters most. It also organizes and consolidates an agent’s database and provides reporting on how much business is both won and lost from within an agent’s network.
 
“We have set our sights on becoming the global leader in real estate technology, and the acquisition of First is evidence of that steadfast commitment,” said Adam Contos, RE/MAX Chief Executive Officer. “With First, we found next-level talent combined with a game-changing service, delivering exclusive access to one of the best products for agents out there today.”

Big congrats to Mike Schneider of First and Adam Contos of RE/MAX. It will be interesting how they weave this in with their acquisition of booj last year.

So, the vendor consolidation continues. The year started with another CRM company, Contactually being acquired by Compass and BoldLeads being acquired by PropertyBase. ShowingTime acquired CSS. OJO Labs after acquiring Wolfnet in 2018, just acquired RealSavvy and chief puppy killers Scott Smith and Tom George of Constellation Software bought Offrs and SmartZip.

I believe First was represented by T3Sixy in the capable hands of Michele Conn. Seems like they might getting busier in the months to come.

Still no word from Realogy. ????

Would the last independent vendor leaving the building please turn off the lights.

Does realtor.com have their heads in the sand?

Everyone’s rushing to be an iBuyer — except for Realtor.com

“Industry observers said the fact that Zillow views iBuying as a do-or-die phenomenon makes Realtor’s indifference that much harder to understand.
“How do you have a situation where it’s an existential threat to one portal, but the other is twiddling their thumbs at the back of the classroom?” asked Mike DelPrete, a scholar in residence on real-estate technology at the University of Colorado who studies iBuyers. “I don’t think [Realtor] needs to be buying and selling houses directly,” he added. “That’s not what this is about, and that’s probably a bad idea for them.”

I’ve been curious about this for a long time. I still surprised how many people still don’t understand the value proposition that iBuyers give consumers. The narrative on Wall Street still seems to be centered around iBuying as “flipping” houses. ????‍♂️

Video highlights from around the industry

I’ve been a big proponent of the use of video for a long time. Lately, I’ve been seeing an uptick in video creation in the MLS world.

CoreLogic videos are well produced, I also like the way FBS uses gifs showing product functionality within their blog posts and agent communications. CRS recently used video to highlight their company people and history. MARIS recently upgraded its website featuring industry luminaries answering the question, “How will tech impact real estate in 5 years?”

Sometimes you can have fun with it, last year we did a “W+R Employees Try Weird Flavored Candy Canes“. Which was super fun.

The latest video to catch my eye comes from Realcomp. I just love the fun after-effects (Karen waving her hand) and the use of real staff members and 70’s style music. The whole vibe of the video made me smile. Take a look.

Vendor Alley 2019 Holiday Gift Guide

It’s that time a year again! The Vendor Alley 2019 Holiday Gift Guide is here! A list of gifts any vendor would love under the tree!

Apple AirPods Pro. I’m leaving my Bose Q35s at my desk. The noise cancellation on these new AirPods is legit, and they don’t take up any space in my laptop bag.

AirFly Pro. I recommended the previous version of this last year. The new Pro version has a better design, longer battery life and can pair two headsets (AirPods), plus an Aux jack. Your only worry will be forgetting they are plugged in on the airplane.

HEROCLIP. These are very useful. It’s a carabiner but with a hook option. I keep one on my laptop bag so when I’m in airport restrooms I can hang my bag even if there isn’t a hook. You’re welcome.

GoTubb containers. Love these. You can open them with one hand and are the perfect size for keeping small loose items like change, Advil, Zantac or edible gummies.

Biscoff Cookies. You know those delicious cookies they give out on American Airlines and Alaska Airlines? Well, now you can have them at home.

2020 Swanepoel Trends Report. What vendor wouldn’t love seeing this under the tree? Always some great insights as you plan for 2020.

What You Do Is Who You Are: How to Create Your Business Culture – Ben Horowitz. I just finished reading this book and highly recommend it. Ben is a co-founder of Andreessen Horowitz. His first book, The Hard Thing About Hard Things is like a bible for the start-up VC world.

Well, there you have it. If anyone has any other suggestions please feel free to add them in the comments section. Merry Christmas!

Gary Keller on The Tim Ferriss Show

Gary Keller

Gary Keller — How to Focus on the One Important Thing (#401)

“Gary Keller (@garykeller) is the co-founder, chairman, and CEO of Keller Williams (KW), the world’s largest real estate franchise by agent count. In 2019, KW, which also ranks number one in units and sales volume in the US, was named by Fast Company as the “most innovative company” in real estate.”

The Tim Ferriss Show

Speaking of podcasts, I was surprised to find Gary Keller, CEO of Keller Williams, as a guest on one of my favorite podcasts, The Tim Ferriss Show. Worlds are colliding!

I’ve read the Millionaire Real Estate Agent back in the day, but haven’t read “The One Thing” he co-wrote with Jay Papasan. In that book, he posits a simple life hack, by asking yourself a question…

“What’s the ONE Thing you can do such that by doing it everything else will be easier or unnecessary?”

With the new year (decade!) fast approaching, I find myself thinking of ways of simplifying things so this is very timely.

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