Where Real Estate Gets Its Dirt

Garry Marsoubian nabs top spot at MLS Now

New CEO Announced at Ohio Based MLS Now

“Effective Monday, April 8th, Garry Marsoubian will assume the role of CEO at MLS Now, bringing with him a wealth of industry knowledge and leadership acumen. Marsoubian’s tenure coincides with significant changes within the MLS landscape, driven by recent class action litigation settlements. With his proven track record, Marsoubian is poised to navigate these transitions with confidence, supported by John Kurlich, one of the most respected COOs in the MLS industry.”

Huge congrats to Garry on his new role.

Property Panorama partners with Local Logic

Local Logic and Property Panorama Forge Innovative Partnership to Enrich Virtual Tours with Advanced Location Insights

“This collaboration is set to equip Property Panorama’s vast network of agents and brokers with a one-click solution to Local Logic’s advanced insights directly within their virtual tours and digital marketing solutions, offering an unparalleled understanding of locations across the United States and Canada.”

Local Logic

Property Panorama also made some recents upgrades to their dashboard to include:

  • Account activity feed to track your news and subscriptions
  • Drag and drop photo management
  • Full Support for transparent and PNG images and logos
  • Fully Optimized for Mobile and Desktop
  • Streamlined Navigation 
  • Re-imagined page layouts to better organize your tools and data
  • Priority access to all Property Panorama Products


Check out their recent blog post to learn more: Property Panorama Launches New Dashboard for Agents

Vendor Alley reader has unique solution to compensation disclosure on MLS systems

“I think I’ve figured out the solution. From now on, the last three digits in the list price represent the basis points the seller is willing to offer a buyer’s agent. $595,250 = 2.5%. It’s elastic from 0% to 9.99% and legal proof. Is the DOJ going to crack down on how sellers price their property? 🤯”

Vendor Alley Reader

The reader only wished to be identified as a “strikingly handsome and incredibly intelligent industry expert.”

Another miss

Anybody else getting a ton of calls/texts/forwards from your “non-real estate” friends about the NAR settlement? My friends are saying that a lot of their social media feeds are crazy with anti-REALTOR messages. Mostly in their social media feeds, with a ton of memes and “quick takes”. I think all of us are still digesting these changes but in the end as Redfin CEO, Glenn Kelman wrote in a recent blog post (NAR Settlement: Kaboom!) “…perception is reality…”

“Even if the letter of the settlement allows for cooperation, how the settlement is perceived may still re-shape agent attitudes about cooperation, and consumer attitudes about fees. The result could be that agent-to-agent cooperation on fees is weakened but not killed. “

Glenn Kelman, Redfin

I want to say upfront that I think NAR did a tremendous job on the settlement for their membership. But, and I may be beating a dead horse here, this feels like another miss in messaging/marketing from NAR. Based on what I’ve seen on Twitter and elsewhere NAR took everyone by surprise, even at their own event, AEI.

How about pumping the brakes a bit? Create some good content that puts a positive spin on things. Give all those assets to share with your local MLS and associations (so they can pass it on) and mirror that with some sort of nationwide “we hear you” campaign.

But releasing the news when all of their association leadership was offsite? Plus, has anyone seen anyone from NAR in the national news?

WTF?

Back to basics

Defining and Communicating the Value of the Multiple Listing Service

“In light of this uncertain, ever-changing environment, a casual observer might ask, “What is the existential value of an MLS?” The truth is, the MLS has provided an abundance of value over the past century that explains its broad appeal and its continued relevance.

Being able to succinctly communicate the many benefits of the MLS in a modern environment—with historical context, and even from an international perspective—is critical for brokers and MLS leaders to ensure that transparent, liquid marketplaces continue to serve their communities. In fact, any professional who’s involved in the real estate profession should be prepared to describe the value of the MLS.

Sam DeBord

A good reminder.

Looks like non “association owned” MLS orgs are still on the hook

Still running through the docs. One reader tipped me off to this nugget; Check out #8 of NAR FAQ on the settlement:

“8. How does the settlement affect MLSs?

• The agreement would release association-owned MLSs from liability for the types of claims brought in these cases on behalf of home sellers related to broker commissions.

• While the release excludes MLSs that are not wholly owned by REALTOR® associations, the agreement provides a mechanism for those MLSs to obtain releases efficiently if they choose to use it…”

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Shades of CIVIX?

NAR settles….

Powerful Realtor Group Agrees to Slash Commissions to Settle Lawsuits

“The settlement includes many significant rule changes. It bans N.A.R. from establishing any sort of rules that would allow a seller’s agent to set compensation for a buyer’s agent, a practice that critics say has long led to “steering,” in which buyers’ agents direct their clients to pricier homes in a bid to collect a bigger commission check. 

And on the online databases used to buy and sell homes, the M.L.S., the settlement requires that any fields displaying broker compensation be eliminated entirely. It also places a blanket ban on the longtime requirement that agents subscribe to multiple listing services in the first place in order to offer or accept compensation for their work.”

Debra Kamin, New York Times

Story is developing. I’ll try and get more details.

Tim’s birthday fundraiser for Maui

Tim’s birthday fundraiser for Realtors® Association of Maui Community Foundation, Inc.

“For my birthday this year, I’m asking for donations to Realtors® Association of Maui Community Foundation, Inc. The goal amount might seem ridiculous but I know enough influential REALTORS® and real estate professionals that it’s possible if you decide to donate and share this effort with your network.”

Tim Dain

Let’s do this!

VestaPlus [Sponsor]

My thanks to VestaPlus for sponsoring this month’s Vendor Alley. I got a chance to sit down and talk with Kelly Robinson on my Listing Bits podcast. Kelly is a pioneer in the web-based MLS industry and is now heading up the sales and industry relations at VestaPlus. Kelly was also a featured speaker at the CoreLogic’s Clareity24 MLS Workshop last week.

To find out more please visit their website. My thanks again to VestaPlus.

MLS organizations fight back against Zillow/ShowingTime lawsuit

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Both ARMLS and Metro MLS have filed a “motion to dismiss” against Zillow. Sadly with everything going on in the industry I’m getting better at reading these legal documents. If you have a time I would recommend reading them, because this will affect many other MLS organizations.

I’m not your attorney but I think the judge will honor their request to dismiss.

Sponsored By Paragon Connect