This looks like the page where the links to the live broadcast will be for the FTC/DOJ “Workshop on Competition in Real Estate Brokerage Industry”
I don’t think they will go live till about 10 minutes before the event starts (9AM ET)
https://whats-new-in-residential-real-estate-brokerage-competition.videoshowcase.net
Dallas’ Ebby Halliday Realtors is being purchased by billionaire Warren Buffett
Ebby Halliday, which handled more than $8 billion in home sales last year, said Monday that it’s being bought by HomeServices of America Inc., a Berkshire Hathaway affiliate.
For months, speculation has swirled about a sale of the 73-year-old Ebby Halliday firm to billionaire Warren Buffett and his Omaha-based Berkshire Hathaway Corp. Company officials had previously discounted talk of a sale but have finally confirmed that a deal is in the works.
Ebby Halliday was an incredible person. And there’s this…
“The company is owned by its employees.”
EXp Realty crosses $1 billion market cap on first day of Nasdaq trading
““Today is a special day in our history, but also just like any other day in building a great company,” eXp World Holdings CEO Glenn Sanford said in response to a question about eXp Realty’s $1 billion milestone. “Our team is super focused on helping our agents, and our agents are staying super focused on working with their clients. I am really excited about where things have the potential to go as we mature as an organization and continue to scale.”
For comparison, Re/Max has a market cap of $944 million, Redfin is at $1.83 billion, and Realogy is at $3 billion.”
Amazing story. Congrats to Glenn and his team.
May’s cover of RIS Media’s REAL ESTATE Magazine…
More like this please…
#legit
‘You can change anything you want to change. People can sit around and complain all they want, or they can do something about it. We’re consultants. We want to go do something about it. We’re tired of talking about it. Let’s just go do it.’
Victor Lund is involved in some of the most ambitious initiatives in the real estate industry. From Upstream to Broker Public Portal, Victor is passionate about solving big problems, and whether or not you agree with his approach, you have to respect his willingness to advocate for change. As the founding partner of WAVGroup, he serves as a consultant to large brokerage firms and MLSs with a particular focus on operational effectiveness, communications and strategic planning. Victor is also the founder and CEO of RE Technology, the leading real estate technology and media portal in the US.
Today Victor shares how he made the transition from venture capital to real estate consulting. He discusses the role of RE Technology and its unusual practice of inviting companies to read their articles in advance of publication. Victor defends his advocacy for the Upstream initiative, explaining the scope of the project and the many benefits it will provide for industry players. He also speaks to the intent behind Broker Public Portal, clearing up misconceptions around how Homesnap functions as a partner rather than a vendor. Listen in for Victor’s insight on tackling difficult challenges in real estate and cooperation as the way forward.
What’s Discussed:
Victor’s transition from VC to real estate consulting
The role of RE Technology as the CNET for real estate
Why RE Technology shares its articles before publication
How WAVGroup’s research department sets it apart
The significant disconnect between brokers and MLSs
Victor’s participation in controversial initiatives
-Upstream
-Broker Public Portal
Victor’s insight on the benefits of Upstream
-Ease burden of agent onboarding checklist
-Instant automation of systems migration
-Efficiency for vendors to deploy products
-Data sharing between MLSs and brokerages
-Facilitates data integration (acquisitions)
-Automate systems (photographer, records creation)
-The incredible scope of the Upstream project
-The timeline for getting Upstream up and running
-Why Upstream uses Web API rather than RETS
Victor’s Upstream pitch for small brokerages
-Premiere information management system
Why fear is the greatest challenge for the Upstream initiative
The impact of Add/Edit on an MLS and its related market
The intent behind Broker Public Portal
-Reimagine way consumers get info
-Consumer-facing website, benefit MLS
The joint venture between Broker Public Portal and Homesnap
How change of control provisions are built into the BPP/Homesnap contract
How Homesnap reinvented themselves as an industry partner
The concept of a parcel-centric database
Resources:
Upstream fixes many problems, not just one
Connect with Victor Lund:
NAR’s Goldberg Kills Amp and Powers Up Upstream
We’re starting to see the impact of a new leadership team at the National Association of REALTORS® led by Bob Goldberg, a strategic, yet practical leader that is SERIOUS about making the industry function more effectively. He also seems to be critically evaluating every investment in technology and making some bold moves to re-focus efforts.
NAR announced yesterday that is shutting down development on its Advanced Multilist Platform, or AMP. AMP was under development for a few years at a burn rate of $6 Million per year. The concept behind AMP was solid – consolidate MLS data into a single data repository and allow developers of systems like Matrix, FlexMLS, Paragon, Stratus, Rapattoni, Navica and others focus on the front-end software development.”
Victor does a good job in this post summarizing, at a very high level, what’s going on with all the initiatives and his thoughts on AMP. I don’t agree with some of his assumptions (especially the Upstream propaganda toward the end) but its a good overview.
BUILDING A STRONG M&A DIVISION – RICK HOFFMAN JOINS THE TEAM
“T3 Sixty now has experienced consultants who can facilitate mergers and acquisitions for technologies companies, real estate brokerages, nonprofit Realtor associations, and MLS organizations.
Hoffman has served as president and COO of Coldwell Banker Residential Brokerage (NRT-owned offices) in San Diego. Before that he was president of Coldwell Banker Associates Realty – which was, at the time, the third-largest Coldwell Banker franchise in the U.S – and co-founder and CEO of ERA the Property Store. Hoffman has served as president of the San Diego Association of Realtors and member of the Board of Directors of the California Association of Realtors where he served as chairman of their for-profit subsidiary, Real Estate Business Services (REBS).”
In 2017, the company hired three seasoned professionals: Kevin McQueen, specializing in MLS consolidations; Michele Conn, who focuses on technology and large company acquisitions; and Travis Saxton, a specialist in technology solutions and acquisitions. As senior vice president, Hoffman is the newest addition to T3 Sixty’s team.
Seems everyone is gearing up for “The Great Consolidation”.
Compass gets $450M from SoftBank; real estate portal now valued at $2.2B
“Less than a month after raising $100 million led by Fidelity, real-estate startup Compass is striking while the iron is hot. The company has now picked up an even bigger investment of $450 million, this time from the SoftBank Vision Fund, plus another $50M in secondary deals, to fill out a vision of its own: taking its real estate rental and sales platform global.
New York-based Compass is now valued at $2.2 billion post-money, up from $1.8 billion just four weeks ago, with $775 million raised to date.”
I’d love to see their pitch deck. To put this amount of fuding in perspective, I believe Zillow raised only $100M before they went public.
“MLS of Choice” is really a poor choice of wording. I think someone at Inman News coined the phrase. It gives the wrong impression of what 7.42 and 7.43 are really all about. But lucky for us we have Tom and Stan! Tom Berge Jr., NAR’s current chairman of the Multiple Listing Issues and Polices Committee, did a great job outlining their recommendations in a video which served as a supplement to an F.A.Q. page.
As a counterpoint Stan Harke, CEO of Western Regional Information Systems & Technology, Inc., also created a video outlining their concerns over “unintended consequences” of the policy change. He makes a few good points (His “pocket listing” scenario is quite clever) if you can make it through the cheesy music.
Then there are some who believe this might be a giant conspiracy! Just don’t shoot the messenger.
immoviewer Announces Appointment of New CEOJeff Turner Named Chief Executive Officer
“We are thrilled to have such a highly regarded industry leader as our new North American CEO,” immoviewer founder, Ralf von Grafenstein said. “Jeff has a unique understanding of where the real estate market is heading and a clear vision for where technology fits into the picture. Jeff’s experience and reputation in the industry is stellar and well known. We are certain he will be able to lead us to the conversations that will move immoviewer forward at a rapid pace in North America.”
Huge congrats to Jeff. This stuff looks shit hot and affordable for most brokers/agents.
