“We’ve seen consistent month-over-month increases in survey growth in the United States over the last year,” remarked Phil Kells, CEO of RealSatisfied. “Year-over-year survey return growth is close to 1000 percent. We could not be more thrilled. It means the platform is working for our customers.”
Congrats to Phil and Jeff. I really like the integration they did for Cloud CMA as well. Super simple.
I’m not totally familiar with ListTrac’s revenue model ( I don’t think they have one currently) but this whole premise struck me as odd. Or maybe I just woke up in a weird mood today.
ListTrac Breakthrough Allows Real Estate Professionals to Monetize Listings
This quote from ListTrac’s CEO, Trent Gardner got me started:
“Just as musicians are compensated each time their song is played on the Internet, ListTrac wants real estate professionals to be rewarded every time their listing is viewed on the Internet,”
Wait, what? My local Realtor is now Billy Joel?
“For years, companies have taken listing content and assembled multi-billion dollar business models by monetizing the ‘eye-balls’ looking at this valuable content,” Gardner explains. “However, these business models don’t allow brokers to participate — so they have been sidelined watching others make millions of dollars in IPOs off of their content. ListTrac helps change that paradigm with a framework allowing real estate professionals to monitor and monetize their listing content.”
Don’t brokers receive exposure for these listings which then translate in to sales?
“Through its patented-approved process, ListTrac, working with MLS firms, help brokers monetize their listing content through the new standard of online advertising known as ‘programmatic advertising.’ Programmatic advertising allows brands to reach consumers at the right time with the right product and the right message — better connecting the advertiser and the consumer.”
Here’s a question. And again, it might sound a bit too weird . Do the portals get to participate in “programmatic advertising” revenue ListTrac is going to help generate for real estate professionals? Shouldn’t they? Why or why not?
I mean if nobody sees the listings (hears the song?), how is ListTrac going to generate revenue? I mean if I never hear Piano Man on the internet how do I know when to buy a piano??!!
Think about it. ListTrac’s whole business model depends on listing portals to install their tracking software on their sites. Without this software ListTrac can’t operate. I can’t imagine Zillow, Trulia, Realtor.com or Homes.com is too thrilled to install any third party software on their own servers. I’m sure all of these site could provide tracking and metrics to any MLS without the need for ListTrac.
If I were ListTrac I would be playing very nice with all these guys.
But…
“Gardner notes that ListTrac went through an arduous process meeting with MLS tech committees, syndication task forces and MLS boards — all populated with agents and brokers — to ensure that no personal information would be shared and that no MLS listing content would be licensed or sold
Meeting with their customers is an “arduous process”? I wrote about this before but this whole entitlement vibe with newer vendors in this space is ridiculous.
I’m sure ListTrac has some smart people, so I must be missing something about this “breakthrough”. Or just as Billy Joel sang, “You might be right, I may be crazy”
UPDATE: Andrea Brambila, Inman News new “Deputy Editor” (congrats Andrea!) has a whole other take on ListTrac’s revenue model. Check out: ListTrac’s plan to sell agent and consumer behavior data
But last month, a Boston-based Internet data exchange (IDX) website provider, www.realestate Inc., contacted Inman, saying www.realestate Inc. had refused to implement ListTrac’s monitoring code in its websites for agents belonging to ListTrac customer Cape Cod and Islands MLS.
“Our business code of conduct prevents us from installing any third-party software we feel would harm you or others,” wrote the company’s founder, Mark Holt, in an email to its CCIMLS customers.
“We will not install monitoring software at the direction of any third-party without consent. We consider ListTrac’s ‘monitoring code’ dangerous at this time, therefore we will not install it.” ListTrac’s monitoring code is an “unknown back-door Trojan” that’s installed without agents’ express permission on their websites at the behest of their MLSs, Holt told Inman.
Ouch.
Departing Trulia Executive Joins Broker Public Portal Board of Managers
“Arroyo Grande, CA – June 30th, 2015 – In the wake of the Broker Public Portal’s first board meeting comes the announcement that Alon Chaver, former Vice President of Industry Services at Trulia, has agreed to join the company’s Board of Managers. The governance of the LLC allows the Board to nominate two outside directors. Mr. Chaver is the first of those two.”
Nice get for BPP. Alon is solid and well respected. Interesting that he didn’t have a non-compete.
Glad to hear Mark Allen has found a new gig! He along with Don Flynn were recently hired to join realtor.com’s industry relations team. Below is an excerpt from Russ Cofano’s Open letter to state and local real estate associations.
Move Announces New Executive Roles to Strengthen Association Relationships (Vis RISMedia)
“Don and Mark will work collaboratively across both the association and MLS industries with our MLS industry relations team, which includes vice presidents Rhett Damon, Shelley Fowler and Bob Greenspan and directors Susan Young and Kathleen Wayson. The entire team plans to attend the 2015 Joint AE Institute in March in Vancouver and we can’t wait to see you at that great event.”
“Industry Relations” seems to be the job title du jour. Realtor.com’s take is especially interesting. Lots of cooks in the kitchen. This focus on state and local associations and working “collaboratively” with MLS industry relations seems kind of odd. Not even sure what it means or how it will work – “Hey MLS CEO, the AE thinks you should be doing your job this way.”
Realtor.com is a listings portal right? They need listings. That means focusing on MLS providers and brokers. It’s not too complicated, or maybe I’m not smart enough to understand all this “strategery”.
Back when I wrote that Rebecca Jensen had taken the CEO position at MRED, LLC. I failed to mention that they had already announced an interim President and CEO, Joseph Szurgyi. Joseph has been with UtahRealEstate.com since 2007 and most recently served as their Director of Operations.
But the search for a replacement CEO is underway.
Rebecca steps in to a very different gig at MRED. At UtahRealEstate.com she basically ran a software company (due to their proprietery MLS system). At MRED they have a MLS vendor, dynaconnections. Since dynaconections is a relatively smaller player I think it will be a great match for Rebecca. They always rank very high on customer satisfaction surveys.
It got me thinking if UtahRealEstate.com will stay on the path with hosting their own “home-grown” MLS system. Then, this morning, I received the final job description from UtahRealEstate.com for the search of a new CEO, and it states,
“UtahRealEstate.com considers itself a technology company and provides MLS services; and it is not mandatory that the CEO be a programmer or have extensive programming experience.”
So that seems to confirm that they do want to stay independent of an MLS vendor. Certainly their are great examples of this happening successfully out there, TheMLS/CLAW, RMLS, MLSPIN and IRES, come to mind.
The bigger takeaway for me is that this is not just another MLS Exec gig. And whomever takes over Rebecca’s position has some tough Anne Klein’s to fill.
LARSON/SOBOTKA PLLC CHANGES NAME TO “LARSON SKINNER PLLC”
“Mitch has taken an increasing role in leading our firm and advising our clients.” He leads the firm’s counseling of the Real Estate Standards Organization (RESO) and works with Larson to advise the Council of Multiple Listing Services, along with dozens of other industry clients.”
Great to see good things happen to good people.
Congrats to Mitch and Brian!
Holy Shit Squared!
From Zillow:
Zillow Names Curt Beardsley Vice President, Industry Development
This is right after MOVE just announced they are filing suit against Zillow over Errol’s departure! This is basically Zillow telling MOVE to take their lawsuit and shove it up their ass.
I gotta say I like Zillow’s style, but it might cost them, on “industry relations”.
This is, as they say, “Going to the Mattresses“.
My congratulations to Marty Reed for being selected to join the Board of Directors of the Council of MLS Services. CMLS has some huge momentum going and its great to know a person of Marty’s caliber, experience and class to help them accomplish their goals!
Congrats again Marty!
See full Press Release Below:
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For more information:
Michelle Kersch
Black Knight Financial Services
904.854.5043
michelle.kersch@bkfs.com
Black Knight Financial Services Vice President Marty Reed
Appointed to Board of Directors for the Council of Multiple Listing Services
– Marty Reed is the first MLS vendor appointed to the CMLS board
– Reed will serve for a three-year term
– Reed’s focus will be on forging stronger partnership relations in the organization by engaging more vendors to support, resolve and drive adoption of CMLS initiatives.
– The CMLS is a premier forum and resource for MLS organizations across North America
JACKSONVILLE, Fla. — Feb. 12, 2014 — The MLS Solutions division of Black Knight Financial Services (formerly the LPS MLS Solutions division), announced that Marty Reed, the division’s vice president of business operations, has been appointed to the board of directors for the Council of Multiple Listing Services (CMLS) for a three-year term, which will run through Dec. 31, 2016. Reed is the first MLS vendor to be appointed to the CMLS board.
The CMLS is a volunteer-led organization that serves as a premier forum and resource for Multiple Listing Service (MLS) organizations across North America to provide information and ideas to members and their constituents about the challenges of changing technology, legal issues and organizational structures in the MLS industry. Reed has been a CMLS member for 11 years.
“I am deeply honored and humbled to be chosen to work with the board on CMLS initiatives,” Reed said. “The MLS industry is facing significant challenges right now, and CMLS is providing essential guidance and resources to all the organizations that touch and depend on the MLS. I hope to continue to forge stronger partnership relations in the organization by engaging more vendors to support, resolve and drive adoption of CMLS initiatives. By helping to build on the mutually beneficial, collaborative relationship that real estate professionals and vendors share, both groups can operate more effectively and work collectively for the greater good.”
Reed has extensive business and MLS experience. Prior to her current position in overseeing Black Knight’s Paragon MLS systems, Reed served as CEO of Cooperative Arkansas Regional Multiple Listing Services, Inc. for almost 15 years. As a longtime member of the National Association of REALTORS®, Reed served on the Multiple Listing Issues and Policies Committee and on the Business and MLS Technology Committees for the Arkansas REALTORS® Association.
“Marty is a respected leader who understands the MLS and real estate industries and excels at consensus building,” said Art Carter, president of the CMLS and CEO of the California Regional MLS. “Marty’s drive and talent will be invaluable to the board as we work together toward our vision of the CMLS as a ‘go to’ resource for common interests across all MLSs, such as branding data integrity; improving agent competency and relevency; and increasing MLS value to brokers.”
About Black Knight Financial Services, LLC
Black Knight Financial Services, a Fidelity National Financial (NYSE:FNF) company, is the mortgage and finance industries’ leading provider of integrated technology, data and analytics solutions. Comprised of technology offerings from the union of LPS and ServiceLink, Black Knight Financial Services offers leading software systems; data and analytics offerings; and information solutions that facilitate and automate many of the business processes across the mortgage life cycle.
Black Knight Financial Services helps clients in the mortgage industry and beyond achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.
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About time…
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WILMINGTON REGIONAL ASSOCIATION OF REALTORS® PARTNERS WITH SHOWINGTIME TO PROVIDE APPOINTMENT CENTER SERVICES TO MEMBERS
NEW SERVICE TO LAUNCH BY JANUARY 7TH, 2014
Chicago, IL – January 6, 2014—The Multiple Listing Service of the Wilmington Regional Association of Realtors® announced today that it selected ShowingTime, the real estate industry’s leading showing management technology provider, to provide appointment center services for its 1,650+ Realtor® members beginning Tuesday, January 7.
“The ShowingTime Appointment Center’s extended hours, two-way text messaging capabilities, branded calls and emails, and overall use of technology to automate the scheduling process is exciting,” said MLS President Sandy Beals. “I am looking forward to a long relationship with ShowingTime. I am so confident they will exceed members’ expectations.”
ShowingTime’s technology-rich Appointment Center, along with its online scheduling system available 24/7 in the MLS, will enable WRAR members to call to schedule showings from 8 a.m. to 11 p.m. Eastern time, seven days a week, or login to the MLS anytime to schedule showings. Members can also use smart phones, tablets and the ShowingTime Mobile App to request and manage showings and feedback.
ShowingTime products – currently used to schedule more than 2 million showings per month in more than 190 markets representing 400,000+ real estate professionals – use technology to improve efficiency and streamline the appointment scheduling process, resulting in quicker showing confirmations and less phone tag. The Multiple Listing Service of the Wilmington Regional Association of Realtors® is ShowingTime’s 70th market-wide subscribing customer.
“We are thrilled to partner with the Wilmington Regional Association of Realtors®,” said ShowingTime President Michael Lane. “WRAR members will have access to many unique features that will help them be effective, including our patented two-way text messaging system for homeowner approval of showings. Our services will equip the members of WRAR to provide great service to buyers and sellers.” he added. “We’re also pleased to be able to offer job opportunities to many of the appointment specialists from the prior showing service that lost their jobs prior to the holidays.”
About ShowingTime
ShowingTime equips MLSs, Associations, offices, brokers and agents with tools to schedule showings, generate feedback and report on activity. Its products are used by more than 6,000 offices nationwide and integrated with 190+ MLSs to manage two million showings every month. Visit http://www.showingtime.com for more information.
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FOR MORE INFORMATION, contact Tom Denk, ShowingTime, 312-568-8001 x130 tdenk@showingtime.com
California has always been a hot bed of MLS politics and a place of innovation, when it comes to sharing MLS data.
Remember the MLS Alliance? How about Mercado? CARETS is still going strong. Quattro ring a bell? And who could forget the calREDD disaster? It seems whenever MLS providers want to share data, politics get in the way. But a group of MLS professionals believe they have the answer to change the way MLS providers share data, without the politics.
MetroList Services, Inc., i-Tech MLS, Rapattoni and MOVE announced earlier this month a new way, using MOVE’s Find application, to share listing detail records from the source MLS system. They do this with reciprocal deep linking, I’m calling it RDL.
To be honest when I first read the press release I was a bit nonplussed. Seemed just like another MLS data share agreement. But the twist on this is subtle. Using Find and SSO its possible for a MLS member in Sacramento to view the actual MLS property detail page on any cooperating MLS provider’s system. But here the brilliant part, the only thing that each MLS provider must agree to is an offer of cooperation and compensation. Boom.
Here’s a few screen shot to show you how it works:
SSO to Find from within participating MLS system.
Property Search results on Find. Click on the Property Address to display the Find Detail page.
On Find detail page, click on ‘View details on i-Tech’ (cooperating MLS system.)
i-Tech (cooperating MLS system) MLS property detail sheet displays.
Tom Beede, CEO of MetroList Services put it this way, “Reciprocal deep linking is the most cost-effective way to provide real estate agents with access to confidential information on for sale properties, because it’s free.”
Granted there are a few integration points that must be handled, but MOVE, Rapattoni, MetroList Services and i-Tech have already proven the model. Is this the future? Time will tell. The best thing is seeing MLS professionals continue to drive innovation to help them seek solutions to their challenges.
