Where Real Estate Gets Its Dirt

New Cloud CMA enhancement (Live Buyer Tour) works with Apple CarPlay

New in Cloud CMA: Live buyer tours

“Live buyer tours build on the existing functionality to turn static reports into dynamic ones—with real-time data that you and your buyers can easily read on any device. So you get a new way to show off properties, and your clients get live access to the most relevant information about their favorite listings. “

I’m really proud of the team and what they’ve acomplished with this new enhancement. Back in May of 2020 we launched Cloud CMA Live. Cloud CMA Live raised the bar for interactive digital presentations and also gave agents a new way to present remotely.

The Buyer Tour report in Cloud CMA has always been a hidden gem. With the new Live Buyer Tour we wanted to give Buyer’s agents a new tool that was mobile first. I know agents are going to love it. This new enhancement is free to all Cloud CMA subscribers and launched yesterday. Check it out and please feel free to share the quick video I made above.

DOJ lands biggest “redlining” settlement

City National Bank to pay at least $31M to settle redlining charges

It’s the fifth redlining settlement the Justice Department has reached since announcing an initiative to combat redlining in October 2021. The settlements have generated $75 million in relief, including a $20 million settlement with Berkshire Hathaway-owned Trident Mortgage Company in July and a $13 million settlement with Lakeland Bank in September.

“Redlining is a practice from a bygone era, runs contrary to the principles of equity and justice, and has no place in our economy today,” Assistant Attorney General Kristen Clarke said in a statement Thursday. “This settlement should send a strong message to the financial industry that we expect lenders to serve all members of the community and that they will be held accountable when they fail to do so.”

Happy Martin Luther King Day everyone.

Renwick Congdon RIP

Renwick Cogdon

It must have been the mid to late 90s, so pre-internet.  We were either exhibiting at a CAR trade show or maybe NAR Annual was in Anaheim that year.  IRIS was still a relatively new company and we had launched our Lightning product, which gave real estate agents a quick way to log in to different MLS systems (Moore Data and PRC).  In the booth next to us was a guy, who was solo at the time, selling software to create flyers and other marketing materials (Flyerware I think it was called) for agents, and it was Mac only.  His name was Renwick Congdon.

Typically when you are standing in a booth all day you strike up a conversation with the company next to you.  Maybe watch the booth while the other guy goes on a bathroom break.  I could tell Renwick was a smart guy, and like us he was a bootstrapper.  We started a friendship that would last over 25 years.

We would see each other at shows, check up on how our businesses were doing, grab dinner sometimes, share insights, and he talked about his family and that one of his daughters getting married.  He was very proud of his family.

I think he was one of my first interviews on my Listing Bits podcast.  We even flirted at joining forces back in 2015.  Kind of a “roll-up” strategy that never happens.  He didn’t need us.  With Imprev he created a monster of a business, I think he had all major franchisors on his platform.  He absolutely crushed it.  In late 2019 he sold his business to MoxiWorks.  I remember Dan and me talking about how great it was that “one of the good guys” got paid.  We called and congratulated him on his success.

When Covid hit, he reached out to Dan and me to check in and ask how we were doing.  He called to congratulate us in 2020 when Dan and I sold the business.

Renwick passed away last week.  I don’t know the details. But, I do know this, Renwick was a true innovator and his persistence should be an example to us all. 

My sincere condolences to his family.  He was truly, “one of the good guys”. Damn.

Thank You

Dear Readers,

I just wanted to send a quick thank you to all of you. I appreciate the comments and the interaction I have with everyone on this blog. Still hard to believe I’ve been writing here for over 15 years.

This past year the Industry Relations podcast I do with The Notorious ROB (Rob Hahn) has really taken off. I think a big factor in its success is Rob and my commitment to recording weekly.

I wish I could say the same for my blogging schedule, this year I’ve been especially lax. So, I making a new commitment to posting on Vendor Alley on all business days. This means I might expand my writing to cover topics I normally haven’t written about. But I hope to keep it entertaining.

I’m also changing the way companies can sponsor Vendor Alley, read about it here. Please reach out.

From all accounts, 2023 will be a challenging year for real estate. I want everyone to know that if there is anything I can do to help, please don’t hesitate to reach out. We can do this.

Happy New Year,

Greg

Over 1 million people used Zillow’s down payment assistance tool (powered by Down Payment Resource)

More than 1 million people have used Zillow’s down payment assistance tool over the last year

“Homeownership remains the American Dream because it is one of the most powerful avenues for building wealth, and a source of long-term social and financial stability,” said Rob Chrane, CEO and founder of Down Payment Resource. “Unfortunately, many people sideline themselves from buying a home because they don’t know that there are thousands of homebuyer assistance programs that may be able to help them overcome common affordability challenges, such as down payment and closing costs. By partnering with Down Payment Resource, Zillow is doing the important work of raising awareness about these programs while providing its users with a tool that could make the difference between continuing to rent and owning a home.”

Well, this certainly brought a smile to my face! I’ve been a big fan of Rob and his company, Down Payment Resource for a long time. Just to think that there are people in a house right now, maybe warming themselves by a fireplace, who were able to buy the house with information they gained from this service fills me with the holiday spirit. 🥹

Happy Halloween

Boo!

Redfin partners with Down Payment Resource

Redfin Launches Down Payment Assistance Feature to Help Make Homeownership More Attainable

“Nearly half of Americans who have never owned a home say that saving money for a down payment is a barrier to homeownership, and many young people in particular feel like they’ll never be able to own a home,” said Christian Taubman, Redfin’s chief growth officer. “Down payment assistance programs can make homeownership more attainable, but information about them is often fragmented and hard to understand. We saw a big opportunity in partnering with Down Payment Resource to raise awareness about these programs to help more people become homeowners.”

Love this! Congrats Rob.

Industry Update Video – CMLS 2022

Photo Credit: Sam Scott

Many thanks to John Warner for recording this video last week at the CMLS 2022 Conference. Enjoy!

OneKey MLS names Richard Haggerty as new CEO

Next CEO for New York’s largest MLS is an insider
Richard Haggerty will be the next CEO of OneKey MLS starting Jan. 1. Haggerty will replace Jim Speer, who is retiring at the end of the year

” Richard Haggerty will be the next CEO of OneKey MLS starting Jan. 1. Haggerty is currently OneKey’s president and chief strategic growth officer and CEO of the Hudson Gateway Association of Realtors.

Hudson Gateway merged with the Long Island Board of Realtors in 2018 to form the MLS, which was then called New York MLS. Haggerty spearheaded that merger and the formation of the regional MLS, according to OneKey. Haggerty has been Hudson Gateway’s CEO for 38 years, according to his LinkedIn profile.”

Lots of retirements this year. And seriously who could blame them? This industry is heading for some big changes. Hard to imagine Jim not being there, I’ve always enjoyed heading to LIBOR’s MLS Tech Fair and seeing Jim there every year. I remember when they made the big announcement about OneKey MLS. Such a huge accomplishment. I guess he and Mosey will have more time seeing hockey games together.

Big congrats to Richard for taking over the top spot.

See you next week in Orange County!

Right before I’m heading off to CMLS Drew Meyers and I will be co-hosting a soiree in Costa Mesa next Tuesday, the 27th. If you haven’t registered and want more information click here. The venue will be a garage/workspace where Dan and work sometimes and I keep my two classic VWs. So if you wanna check out my sweet 15 window ’59 Bus, have a few drinks, and hobnob with some of proptech’s finest join us!

And for those of you heading down from Los Angeles from the iOi Summit, I know a few have reached out about car-pooling or sharing an Uber. Hit me up if you need a ride and I’ll try and connect everyone. See you soon!

Sponsored By Giant Steps Advisors