Where Real Estate Gets Its Dirt

Realtracs expands access to 1.9M listings

Realtracs Expands Access to 1.9 Million+ Listings Through Southeast MLS Alliance

“Realtracs, the technology company providing the largest multiple listing service (MLS) in Tennessee, announced today the data from a recent MLS alliance is available for subscribers. The Southeast MLS Alliance was created in 2023 to allow cross-regional data sharing among agents and brokers in Tennessee, South Carolina, Georgia and North Carolina. “

Realtracs

I’ve been on the road awhile so I’m catching up on some the recent news and his caught my eye. Users of Realtracs, Canopy MLS, Georgia MLS and Charleston Regional MLS now have a full feed of more than 1.9 million additional listings across the southeast.  Boom!

Move sues CoStar over trade secrets

CoStar hit with trade secrets lawsuit over dueling real-estate websites

“According to the complaint, Kaminsky headed Realtor.com’s “News and Insights” platform until he was laid off in January. The lawsuit said that Kaminsky took a similar role at Homes.com in March.

Move said it discovered last month that Kaminsky had stolen documents related to business strategy, industry contacts and “a vast array of other competitively sensitive and valuable information” for CoStar.”

Blake Brittain, Reuters

Shades of 2014 when Move sued Zillow over the departure of Errol Samuelson and Curt Beardsley. That was pretty messy and Zillow finally settled (without admitting any wrong doing) for $130 Million. Someone once told me that you are never really successful until you start getting sued. So I guess it’s official that Homes.com is getting traction.

Funny that it’s usually CoStar doing the suing. It will be interesting what tidbits come up in discovery if things get that far.

A new home search portal swoops in to the mix

Flyhomes Launches World’s First AI-Powered Home Search Portal

“Developed over the last two years, ‘Flyhomes AI,’ is a proprietary technology which brings the first conversational real estate search and research to the market, dramatically expanding the amount of information home shoppers can find online.”

Flyhomes

The company has some legit pedigree too.

“The technology integration was overseen by ZeroDown co-founders, Laks Srini and Abhijeet Dwivedi, who joined Flyhomes as chief technology officer (CTO) and chief growth officer (CGO), respectively. Srini and Dwivedi previously served as Co-founder/CTO and as COO at SaaS HR platform, Zenefits.”

Flyhomes

One of ZeroDown’s major investors is Sam Altman, CEO of OpenAI, the creators of ChatGPT.

The new portal will be live in 28 states and Washington D.C., which they claim covers 75% of the listings (I think that sounds right). I got an early sneak peak at the site and it’s pretty rad. Along with the typical portal things you can also ask it questions like

“Show me homes in Los Angeles that have recently dropped in price”
“Provide me an overview of recent t sales in 90210”
“Show me homes in 92648 that are having an open house this weekend.”

To me this could be what a future MLS system interface could look like.

I’m hoping to have someone from Flyhomes on my podcast, I’ve got a ton of questions about their business model, and how they plan to expand coverage.

But my biggest take away is just when we thought that there was no innovation left in the listing portal space, a new competitor enters the ring. Congrats flyhomes! Can’t wait to see more!

Microsoft agrees to take down Bing Homes Portal

via GIPHY

More info on FCC’s new robocalls rules

Victor talks about some of the details to the FCC new rules as it apples to real estate lead aggregators.

“Real estate leads are among the most expensive leads generated across all American business, often leading to real estate professionals paying as high as 40% of their commission for a sale generated from a lead. Many leads generated at online shopping websites are sold over and over again, causing consumers to be inundated with spam-y text messages and robo-calls that seem to have no end. Now, there must be a clear opt-in by consumers to this form of communication. The FCC wants the consumer to opt in on a 1-to-1 basis to each company that will receive their contact information. “

Victor Lund, WAV Group

As Rob and I discussed on a recent Industry Relations podcast we think this is going to have a bigger impact than any one realizes.

Adam Wiener leaving Redfin

Redfin’s president of real estate operations to depart

“We know with Adam’s departure what Redfin will lose. He’s one of the smartest, kindest, most hard-working and creative folks you’ll ever meet,” Kelman said in the email. “And Redfin will keep changing. We couldn’t keep doing things the way we’ve done with Adam, and we shouldn’t try. Change is necessary and good.”

A Redfin spokesperson didn’t say where Wiener is heading after Redfin. In his email, Kelman said in a year Wiener “will probably be running his own show, at another company also poised to conquer the world.”

Rick Morgan – Inno Senior Reporter

Huge loss, but happy for Adam. As our industry enters a “hunker down” mode I think you’ll see more of these departures. It’s a great time to build.

Clareity MLS Executive Workshop highlights 2015

A few things I wanted to highlight about last week’s Clareity MLS Executive Workshop in Scottsdale, AZ last week. First off Gregg and his entire team did an amazing job. The content was fantastic and they managed to keep the conversation above the salacious syndication war between MOVE and Zillow Group narrative that has been floating around.

But, one of my takeaways about the Zillow Vs MOVE thing was how it effects other players, notably Homes.com. Seems like an opportunity for these guys. When I asked Andy Woolley, now Industry Relations at Homes.com. Andy was quick to point out that while they don’t, and won’t possibly ever have as much traffic as ZTR, they were focusing a lot on “quality”. Meaning the “quality” of leads coming through Homes.com. I was sent a screen shot of a ListHub report (from the Houston market) that seemed to prove that out.

Homes.com lead ratio

Yes, I know their total detail views is much smaller, but their lead ratio is crazy good.

HAR .08%
Zillow .06%
realtor.com .03%
Trulia .019%
Homes.com .97%

The other thing was the direct feed count. Check out this slide.

Direct Feed Count

Homes.com has 400 direct feeds from MLS providers. 400 freaking hundred. Zillow Group isn’t even close. Great lead ratio, huge direct feed count, you gotta wonder what that is worth to someone.

On another topic, was the release of the MLS Satisfaction survey. Here’s the results of the “End User Satisfaction.”

MLS Satisfaction Survey

Looking at MLS Vendors with more than 2 customers it appears that Black Knight and FBS still dominate the top two spots above their competition. Kudos to both of them.

Thanks again to Gregg, Matt and the rest of the Clareity team. We are always thrilled to participate. And I hope you enjoyed the Cloud Streams t-shirts. They look great!

Syndication Shitstorm

FMFU

Yesterday MOVE slapped the newly formed Zillow Group with the news that as of next week they won’t be providing listing to Trulia any longer. This seemed to be in response to Zillow’s earlier rebuke of continuing the ListHub agreement past the contract date.

Now it appears that Zillow is seeking a restraining order to keep listings flowing to Zillow.

Oy Vey!

A few observations:

Welcome to the team!
Tough first week for Paul Levine, newly appointed president of Trulia.

The Velvet Glove
I’m going to start calling Celeste Starchild, “the velvet glove”, because she always seems to be delivering the bad (good?) news, but tries to downplay the consquences.

Shit Sandwich
And going back to Zillow’s earlier refusal to re-sign with ListHub, can you really blame them? ListHub was basically forcing them to use a data feed their very own company won’t use on its own site (realtor.com). Zillow take is that ListHub was was serving them a shit sandwich, telling them to eat, and that they better like it.

Lobby bars
Good thing the Clareity’s MLS Executive Workshop next week is serving great popcorn, because the show has just begun!

Did you hear?

I’ve been super busy and there has been a lot of news to catch up on. Here’s a few links to stories I think are worth checking out…

Bob Gottesman has been selected as RESOs new Executive Director, effective May 2013. Check out Matt Cohen’s Live Blog transcript to see this and all the RESO Spring Meeting news.

Todd Carpenter’s new site Realty Nex.us is fast becoming one of my favorite industy sites. He recently published a “Special Report” – “Why online consumers love Zillow and Trulia more than you.” It’s free and worth the read. I’ve also added the link to the my “Read This Now!” header.

Speaking of special reports Rob Hahn’s (aka The Notorious R.O.B.) has another report, “[PREMIUM] Move, Trulia, Zillow: Q1/2013 Report – The Narratives Take Shape”. You need to be a premium subscriber to access the content. I haven’t had a chance to read this one yet (you know you need to carve out a big of time for Rob), but his first two Premium reports were excellent.

And if you really need to get caught up on the MLS public facing website debate look further than Inman News for great content and discussion.

Ever heard of the Dymaxion House? How about a conveyor belt linen closet? Now you have.


[via SWISS-MISS]

HomeServices to stop syndicating listings?

The shit just hit the fan…

Twitter was all a…twitter, I guess when Craig Kamman posted that Edina Realty (owned by HomeServices of America) was going to pull their listings from Trulia and other “3rd party aggregators” and possibly Realtor.com. The post is worth a read:

Edina Realty discontinues 3rd Party Sites like Trulia and Realtor.com

This was followed by a blog post by Jay Thompson who had his own take on the news, where he imagines a conversation between an seller and his agent:

“So Mr. Agent, you’ll put our home listing on the internet, won’t you?

Well, it will be on our brokerage site, but we’ve elected not to put your listing on some of the most highly visited real estate sites in the country.

Uhm, why is that?

Well, we want to be sure our agents get the leads your home listing generates. And those meanies at the third party site want to charge for them!

Uhm, isn’t the point to sell our home, not generate leads for you and other agents?”

Obviously Jay doesn’t think it’s a good idea:

Edina Realty pulling listings from Trulia and Realtor.com?

Then Rob Hahn went “Oliver Stone” or got “stoned” at one of California’s many marijuana dispensaries while he was out here for the 2011 NAR Convention in Anaheim. And I quote:

“There is, I believe, a real chance that in the next three to six months, we will see the splintering of the foundation of the industry: the MLS and the Associations. The world that comes next, a world without the Multiple Listing Service, will be one filled with unintended consequences.”

After reading Rob’s post I don’t know whether to hug my kids or ask him to pass the bong, because that is some good shit he’s smoking.

All kidding aside, I may be just whistling through the graveyard so his post is worth the read:

Extinction Event Horizon: Real Estate

This story is developing…

Sponsored By VESTAPlus