Where Real Estate Gets Its Dirt

Don’t shit where you eat

How it started…

President of Powerful Realtors Group Is Accused of Sexual Harassment

“Ms. Brevard, 51, was fired in September 2022 for failing to disclose her relationship with Mr. Parcell, according to the lawsuit she filed in federal court in Washington, D.C., in June.

She had worked at N.A.R. as what was called its “chief storyteller” and handled the group’s podcasts, videos and much of its marketing materials from 2019 to 2022. According to her complaint, she had a monthslong sexual relationship with Mr. Parcell. After she ended it, Mr. Parcell continued to press her with unwanted advances, saw to it that she was excluded from meetings and business trips and told her that he would have her fired, the lawsuit claimed”

Debra Kamin reporting for the New York Times

How’s it going…

NAR President Kenny Parcell resigns after NYT exposé

“The calls for Parcell’s resignation intensified over the weekend, as a growing number of industry leaders called on NAR to hold Parcell accountable for his actions. Anywhere Brands President and CEO Sue Yannaccone was one of the first high-ranking brokerage leaders to make a statement, with her Monday LinkedIn post garnering increasing attention throughout Monday afternoon.

“I was very disturbed to read The New York Times report on the brazen attitudes and alleged behaviors of leaders at the National Association of Realtors,” Yannaccone said. “Given our predominantly female industry, I am incredibly disappointed by the reporter’s allegations as NAR is supposed to be a guidepost for our industry.”

Marian McPherson reporting for Inman News

The Times article was a bit of a head scratcher for me. In my opinion, after thinking about it for the last couple days, and talking to people it’s amazing to me this clown didn’t resign when he was first caught in a sexual relationship with a staffer. This guys outsized ego just sullied a lot of people’s good reputation and future prospects.

CoStar to purchase Realtor.com?

News Corp in Talks to Sell Real Estate Site For $3 Billion

“Rupert Murdoch’s News Corp. is in talks to sell its Move Inc. online real estate business to CoStar Group Inc.

Move is the parent of Realtor.com and other real estate-related websites. The deal is worth about $3 billion, according to people familiar with the matter, who asked not to be identified because the discussions are private. The sale could be announced within days, one of the people said.”

After CoStar announced at a recent earnings call they had raised $750M for future acquistions Rob and I on our Industry Relations podcast tried to guess what they would scoop up. I thought we had a pretty good guess with Matterport. Matterport had recently bought VHT Studios. So we thought it would give them some killer IP and a network of photographers. Turns out Zillow took the bait and purchased VRX, and CoStar had bigger fish in mind. Although $3 billion isn’t that much money for CoStar, remember they bid $7 billion for CoreLogic.

Brings up a few questions. Will NAR approve? Or do they even have the say? If NAR was cool with handing the reins to Rupert Murdoch, then Andy Florance seems like a Boy Scout.

What about Homes.com? I’ve been wondering when the new website would be launched, and they recently had a big round of layofffs. Maybe Andy realized that it would take a hell of lot more money to get Homes.com (a distant #3) to compete with Zillow than it would take #2, realtor.com. And the whole “your listing, your lead” actually might play better under the realtor.com umbrella.

Your move Nestfully.

NAR Midyear to go virtual

via GIPHY

NAR to Deliver Virtual Solutions for 2020 REALTORS® Legislative Meetings and Trade Expo

“We are all watching the development of the coronavirus pandemic with uncertainty and serious concern.
On behalf of the NAR Leadership Team, CEO Bob Goldberg, and the NAR staff, your well-being and your business are of paramount importance to us at this unprecedented time.


Due to recent restrictions and recommendations implemented by the federal and Washington, D.C. governments, NAR will deliver previously-planned programming and committee meetings virtually.

With the Centers for Disease Control issuing guidance limiting discretionary travel and gatherings of more than 10 people for the next eight weeks, and Washington, D.C. also instituting a state of emergency to limit the spread of COVID-19, we will no longer hold the 2020 REALTORS® Legislative Meetings and Trade Expo in person from May 11-16 in Washington, D.C.

Had to happen, but still….

NAR to make a decision on possible postponement of Midyear Legislative Meetings by April 1st

Statement on NAR 2020 REALTORS® Legislative Meetings & Trade Expo and the Coronavirus

“As concerns over the coronavirus continue, many of our members have inquired about the status of the NAR 2020 REALTORS Legislative Meetings & Trade Expo (RLMTE), currently scheduled to occur May 11-16 in Washington, DC. Today, the NAR Leadership Team announced that a final decision regarding the possible postponement or use of virtual options for RLMTE will be made on or before April 1, 2020.

The safety and well-being of our members, staff, and partner organizations remains our top priority, and the Leadership Team recognizes the virus’s impact on large gatherings and events.”

Shit just got real yo.

The REALTOR of the future

Watch This Weird ’90s NAR Video of REALTORS® In the Future

“So how exactly did this wacky artifact come to fruition? According to Hathaway Hester, manager of the association archives, the theme of the 1990 town hall meeting was “The Broker’s Office in the Year 2000,” and the futuristic video served as an introduction to the proceedings. The entire thing was filmed and made available to members through NAR’s mail-order service, which was a precursor to today’s REALTOR® Store. It was advertised throughout 1990, then disappeared from the radar until it was digitized and posted online in 2008, the year of NAR’s centennial, Hester says. Over the years, the short video has caught the interest of external publications wanting to highlight the video’s amazing ’90s cheesiness.”

Oh man. This is so fun.

Also, think about this, if the movie Back To The Future was made today, Marty would be going back to the 90s. ????

Coverage

Looks like my hashtag, “#PutItOnTheMLS”, which first appeared here, got some love on the cover of the latest issue of REALTOR Magazine.

It’s not the cover of the Rolling Stone, but I’m surprised how much this made me smile.

Things that make you go hmmmmm…..

Musings on Defining Fundamental Problems

“One thing I’m pretty good at doing is seeing beyond the symptoms and identifying those fundamental problems. I don’t really know how I do it; I just kind of… see it and it makes sense and it makes the whole thing hang together.
So I thought I would muse on a few industry segments to try and figure out how I think of problems, and maybe along the way, provide something useful and valuable to you, the most educated readership in real estate.”

Must-read post by The Notorious R.O.B. A great perspective as we leave this decade and enter a new one on the challenges organized real estate faces.

We got nipple

As I head to NAR Annual in San Francisco I can help but remember back to NAR Annual 2003, also held in San Francisco, when I hired Fabio for a meet and greet at our eNeighborhoods booth.

We ran a full centerfold spread ad in REALTOR Magazine to promote his appearance. To this day I think its the only ad in REALTOR Magazine that ever showed full nipple.

So don’t believe anyone when they tell you not to follow your dreams.

#thanksstu

Bright MLS throws support to NAR’s 8.0 policy

‘Pocket listings,’ those secretive, off-market offerings of homes for sale, to disappear in the D.C. area

Bright MLS, the region’s multiple listing service, on Wednesday announced a policy that requires all real estate agents and brokers in its system to submit the listing within one business day of marketing the property to the public. The policy is in effect now, but fines won’t be imposed on agents who break the rule until Dec. 1. The fines for noncompliance are $5,000 for the first infraction, $7,500 for the second and $10,000 for the third instance.

Washington Post

Bright MLS did make a slight edit to NAR’s 8.0 policy, allowing for one business day, not 24 hours, which I think is smart. The WaPo article is interesting to read. I always get a kick out of how main stream news covers issues in organized real estate.

And love Jon Coile’s quote, which I first heard Dave Liniger, co-founder of RE/MAX first say back in the day; “That’s like coming to a potluck dinner with just a fork.

Overall is great to see the larger MLS provider coming out and supporting NAR’s 8.0 policy. But I don’t find many addressing what I think is a core problem, Fair Housing. Maybe its too controversial for MLS providers to talk about.

See you in Boston!

I’m heading to Boston today and looking forward to seeing everyone.

I’m also going to be moderating a panel at the MLS Association Executive Session on Friday at the Hynes Center, Room 210 on the Second Level.

The session runs from 1PM to 3PM. I think they have the panel starting around 2:20PM.

The title of the panel is “Innovation and Options – The Grid, MLS Aligned, Bridge API, Spark Platform and Trestle. I will be joined by…

Marc Hill from Realtracs talking about the The Grid.
Chris Lambrou from MetroMLS talking about MLS Aligned.
Jay Lee from Bridge Interactive (Zillow Group) talking about the Bridge API.
Matt Fowler from FBS talking about the Spark Platform.
Ethan Bailey from CoreLogic talking about Trestle.

I’m really looking forward to this and hoping it will be a good opportunity for everyone to get a better understanding of what each of these solutions can do for the MLS providers and their members.

Also we’ve recently updated our booth design so make sure to come by and take a look, we are giving away lots of free stuff.

Booth #333

See you soon!

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