Where Real Estate Gets Its Dirt

Ben Kinney’s Place acquires Remine for $1.5

Place buys Remine at auction for $1.5M in cash

“Real estate tech and agent services company Place is acquiring real estate software firm Remine for $1.5 million, all in cash — less than 3 percent of what four multiple listing services paid to buy the company 3.5 years ago.

The deal is expected to close in about 14 days, Place co-founder Ben Kinney told Inman exclusively Thursday.”

“Less than 3 percent…” — ooof.

Probably the best outcome for Remine, though. Ben Kinney is legit. Still, a long road ahead.”

The consolidation continues…

AI set to help MLS and Associations to better support their members

After this week announcement from NAR and CCP and all the articles written and podcasts..casting I think I’m more confused than ever. I’m wondering if AI could help? Could I feed those articles and podcast transcripts in to AI and ask it,

“Who are the winners and losers in this latest announcement from NAR about CCP?”

I’m pretty sure even ChatGPT would break down if I asked it that question.

But I’m seeing a few ways AI is helping MLS and Associations. Markt just announced a partnership, Markt Taps Voiceflip’s ARDI to Advance MLS Support Services, according to the blog post,

“By integrating ARDI into its service offerings, Markt is empowering their MLS clients to boost service speed, reduce operational costs, and offer higher value human interactions.”

Markt’s General Manager Betsy Hanson goes on to say;

“ARDI will give MLS subscribers quick and accurate answers, freeing our staff for bigger challenges and puzzles.”

I think that’s exactly right. It reminds me of a conversation I had with Justin Lundy, of Lundy, when I talked to him about their AI MLS and Association support product, Navigator. he told me that, “while some members do prefer to talk to a robot, most would rather speak to a human. Lundy’s Navigator is helping those humans surface the answer quickly so they can focus on being there for the member instead of searching through a number of documents.”

Lundy’s Navigator now has close to nine MLS clients. I’ve also heard they are announcing a partnership with CMLS, where they have built a “Best Practices Navigator”. CMLS supports over 225 MLS organizations so that will be a huge benefit CMLS members can take advantage of.

Good to have some choices.

Follow the MLS

Less than 30 mins away!

See you on Tuesday

“One of the ways I believe people express their appreciation for humanity is to make something wonderful and put it out there.”

Steve Jobs

Dear Vendor Alley readers,

Dan Woolley and I have partnered with Cole Boyer to launch a new app called Tuesday. We think we have created something wonderful and we can’t wait for you to see it.

Tuesday is an agent-only app that transforms MLS data into a social feed, similar to Instagram, Twitter (X), or Facebook. With Tuesday, agents can:

  • Follow cities and zip codes
  • Follow their office
  • Follow other agents

So instead of searching the MLS, you can now follow the MLS. You can think of Tuesday as if your MLS system and Instagram had a baby.

The inspiration for Tuesday comes from the Tuesday morning broker meetings where agents gather to learn about new listings, price drops, discuss the market, and connect with colleagues (and their competition).  Our hope is that Tuesday will be the first app agents reach for in the morning.

Some of you have seen demos of Tuesday in its early stages or at MLS Reset. You also may remember that Tuesday won “Crowd Favorite” at the iOi Summit last year. Next week we are finally launching Tuesday.

Big shout and thanks to Tim Dain (the mad scientist himself) for his support and being Tuesday’s inaugural MLS customer. Cole will be doing an online presentation on Tuesday, March 25th at 9AM PT to launch Tuesday to Northstar MLS members.

Cole Boyer, Tuesday’s CEO, presenting at the MLS Reset conference

Here’s where you come in: While Tuesday will initially be available to Northstar MLS members only, we are eager to spread the word about our app throughout the industry. As a bootstrapped company, getting widespread exposure is challenging, and your influence would be invaluable. We would greatly appreciate if you could share this link so MLS executives, brokers, and agents can sign up and see Cole’s presentation about Tuesday on March 25th:

👉 https://www.ontuesday.com/live

We believe that a strong MLS is vital to organized real estate. With compensation going away we need to focus on cooperation more than ever. We need better ways to engage brokers and agents to help foster that cooperation. We need a new way to MLS.

I’ll be writing a little more about its origin story, and thinking behind it. Until then, see you on Tuesday!

gr

P.S. If you are an MLS executive who would like a private demo, reach out.

Hive MLS and SourceRE announce new “data exchange”

Hive MLS and SourceRE Announce Investment and Long-Term Partnership

“This initiative signals a broader industry shift toward MLSs taking proactive control of their data ecosystems. Rather than relying on a small group of third-party solutions and major public entities with competing interests, Hive MLS and SourceRE are working together to build an MLS Data Exchange without vendor-specific constraints, technical dependencies, or timeline limitations.”

I’ve struggled— and I think the industry has struggled— to find a good naming convention for the type of solution Hive MLS and SourceRE describe in this release. They call their solution a “data exchange.” I believe this solution falls into the same category as other offerings in the market.

Comparable Solutions

DataCore from RECore:

“DataCore gives your organization complete control over its most valuable asset—your data. Easily manage, share, and protect information with a secure, flexible solution designed for the way MLSs and Associations operate. Keep your data flowing where it needs to go while ensuring it stays protected every step of the way.”

Amplify:

“At Amplify, we empower MLS organizations and national brokerage firms by placing them at the forefront of their ecosystem. Our pioneering real estate platform provides unparalleled control, flexibility, and adaptability, allowing MLSs to tailor their operations to meet specific needs.”

I believe all of these solutions can be traced back to AMP, which was RPR’s “Advanced Multi-List Platform.” AMP was shut down in early 2018, and at the time, it was described as:

“back-end multiple listing service database for small and medium-sized MLSs”

Carlos Grass, one of the co-founders of Amplify, later acquired AMP’s assets from RPR (which is wholly owned by the National Association of REALTORS®). I had the opportunity to interview Carlos and Paul Hethmon on my Listing Bits podcast, where we discussed Amplify, its solution, and the broader category. It’s a great overview of the space.

A Name for This Category?

I like to call these solutions “front-endless” MLS solutions—or perhaps “back-end database” MLS solutions would be just as fitting or maybe even “data exchange”. The goal here is for an MLS to say, “Here’s our data, come as you are.” Each company can then offer its own spin on the features and benefits of its solution.

I’m not sure how far off we are from a world where these solutions take off, but the fact that so many companies are bringing their own unique approach to this space tells me that something is brewing.

Lundy helps 5 MLS organizations and associations navigate support issues faster

Five Leading MLSs and Associations Integrate Lundy’s Navigator AI for Smarter, Faster Member Support

“Lundy is proud to announce that five leading real estate organizations — FMLS, Realcomp Ltd. II, Bluegrass REALTORS®, HiveMLS, and MetroTex — have already partnered with Lundy to enhance their member and staff support. With many more MLSs and associations in the queue or actively onboarding, Navigator is quickly becoming the industry standard for AI-driven support. These organizations leverage Navigator to streamline operations, augment their support staff’s abilities, ensure policy consistency, and provide their members/subscribers faster, more accurate assistance.”

Unlike traditional knowledge bases, Navigator is an AI-powered solution designed to deliver direct answers—not just search results. It can complement your existing support team or, even better, provide members with direct access via text.

“Instant Answers via Text

Agents can now text or call Navigator at a dedicated support number to receive instant, organization-specific answers. By saving this number, they can reach out anytime, just like messaging knowledgeable support staff who can always assist. This ensures members and subscribers always have access to expert guidance.”

I’ve seen this in action, and it’s kind of amazing. Lundy’s work with voice search (have you checked out MetroList.com yet?) has given them a head start on some of this technology, which they’ve tailored specifically for real estate. You can tell this type of product is going to be a hit when people start finding new ways to use it.

“Richard Gibbens, Bluegrass REALTORS® CEO says, “The Lundy Navigator has revolutionized our operations by transforming our access to governing documents, rules and regulations, and board minutes. It’s made onboarding smoother, enhanced our access to institutional knowledge, and significantly boosted our efficiency.”

Now, I just hope no one digs through Vendor Alley to tally up how many predictions I’ve gotten wrong!

REcore [Sponsor]

My thanks to REcore (pronounced R-E-core) for sponsoring this month of Vendor Alley. The needs of MLSs and AORs in a shifting real estate industry change faster than some technologies can keep pace with. Every MLS and Association deserves personalized technology, REcore mission is to deliver it.

They recently when through a rebranding initiative which I thought was nicely thought out and well done. You can read about it here. I have to admit a little bias here since I am also on the board of REcore.

Find out more and read my review of their dashboard solution here.

My thanks again to REcore.

UtahRealEstate.com launches new tool for MLS organizations to help export data.

UtahRealEstate.com Launches reDataExport, a New Company that Simplifies Real Estate Data Access and Distribution for MLSs

“MLSs throughout the country frequently receive requests from economists, universities and government agencies related to research for local housing markets. For example, some of this data is used to create affordable home buying legislation, to assist in market studies for government grants, and for use in educational research projects.”

We featured UtahRealEstate.com on our “MLS Innovators” panel at MLS Reset. Love these simple point solutions.

Listing Bits Podcast: Austin Allison, CEO of Pacaso

Overview:

In this episode, Greg Robertson chats with Austin Allison, CEO of Pacaso, about his entrepreneurial journey in real estate, starting with Dotloop and transitioning to his current venture, Pacaso. The discussion covers lessons learned from his early career, how Pacaso is revolutionizing second home ownership, and insights into raising capital through innovative approaches like Regulation A.

Key Takeaways:

1. Austin’s Journey in Real Estate:

• Austin Allison started his real estate career early, getting his license at 18. His early experiences selling homes during college inspired him to create Dotloop, which he later sold to Zillow.

• The entrepreneurial lessons from Dotloop, including navigating challenging markets and working with large real estate brands like Keller Williams, set the foundation for his future ventures.

2. The Birth of Pacaso:

• After selling Dotloop, Austin co-founded Pacaso, a platform aimed at democratizing second home ownership by enabling people to co-own luxury homes. The idea stemmed from his own experience of buying a second home and realizing most vacation homes sit unused for much of the year.

• Pacaso allows people to purchase a share of a vacation home, creating more efficient and accessible ways to own luxury properties.

3. The Challenges of Scaling a Startup:

• Pacaso had rapid growth, especially during the early days of the pandemic when people sought second homes, but faced new challenges in 2023 due to rising interest rates and a cooling real estate market.

• The company has refocused on profitability and expanding its market presence globally, with operations in the U.S., Europe, and Mexico.

4. Innovative Fundraising through Regulation A:

• Pacaso recently explored raising capital through Regulation A, a public fundraising method that allows retail investors to buy into private companies. This method democratizes access to investment opportunities typically reserved for institutional investors.

• Austin believes this approach aligns with Pacaso’s mission of making second home ownership more accessible and also raises brand awareness by turning investors into advocates.

5. Future of Pacaso and Second Home Ownership:

• Pacaso aims to continue expanding its product offerings and entering new markets. While the current focus is on high-net-worth individuals, Austin envisions future opportunities to lower the entry point for ownership, making the Pacaso model more accessible to a broader audience.

• Austin emphasizes the long-term potential of Pacaso and the importance of scaling the business carefully to meet the demands of a large, untapped market.

Reach Out: 

Austin on LInkedIN

Find out more about Pacaso

• Learn more about Pacaso: Pacaso.com

• Explore Regulation A investment opportunities with Pacaso.

Our Sponsors

Trackxi – Real Estate’s #1 Deal Tracking Software

Giant Steps Job Board – Where Proptech gets hired

Production and editing services by:

Sunbound Studios

Aligned Showings passes 2 millionth mark and introduces usage-based pricing

Aligned Showings Reaches 2 Millionth Showing and Introduces Usage-Based Pricing

“Having booked over 2 million showings across our MLS partners is a huge milestone for us. We continue to add new features to Aligned Showings, which has led to over 91% of active listings using the platform in RMLS alone,” stated Kurt von Wasmuth, CEO of RMLS in Portland, Oregon.”

Many MLS software solutions are bundled or provided at little or no cost. The drawback to these tethered solutions is that they limit choice and competition. Additionally, many of these vendors require licensing and terms that MLS organizations would rather not concede. As the saying goes, ‘When the product is free, you’re the product.’

With Aligned Showings usage-based pricing, MLS organizations can now offer more choice to their agents without surrendering unwanted or aggressive data usage rights.

Sponsored By VESTAPlus