Can anyone confirm?
Warren Buffet wants out of real estate
Compass negotiating to buy Berkshire Hathaway HomeServices
“News of the negotiations between the companies was notable because it would represent a shift in strategy from Warren Buffett’s Berkshire Hathaway conglomeration. HomeServices is a subsidiary of Berkshire Hathaway Energy, a company silo that otherwise exclusively includes energy production and transmission companies. Berkshire Hathaway, Inc. also holds other ancillary real estate services and the insurance company GEICO.”
I could make the case of Stone Point Capital buying Keller Williams and Rocket buying Redfin as an optimistic view for the industry. Meaning, “big money” thinks real estate is going to pretty much operate as it has in the past. Which is good for organized real estate
I don’t know why, but this news hits different.
Ben Graboske leaving ICE?
Word on the street is that Ben Graboske may be leaving ICE. Can anyone confirm this?
Ben is an OG in the industry and responsible for one of the smartest acquisitions in the industry, acquiring Tarasoft (which became Matrix) while he was at CoreLogic, which is now the largest MLS vendor in North America.
After moving to Black Knight he transformed their MLS solutions team and appointed Lucie Fortier as EVP of Data and Analytics and the MLS team. I had a great time interviewing Ben and Lucie on my Listing Bits podcast last year.
Not sure if this was his plan from the beginning? I can’t imagine help shepherding the protracted ICE deal along was fun. Maybe a new venture? Who knows??
Did a forms vendor just buy REcolorado MLS?
I’m off-site this week without my “Murder Board“. So sans my red string and push pins I’m still putting the pieces together. But here’s what I’m finding out.
In October 2020 a software company filed for an LLC under the name of Hana Software.
The directors of the LLC were Si Hyung Park (male), John Park, and Matthew Wissinger.
Si Hyung Park is a technologist and worked for many tech and consulting companies (https://www.linkedin.com/in/si-hyung-p-b03834/)
John Park is an owner of MetroBrokers Elite (https://www.linkedin.com/in/john-park-1b7b777/_). I don’t know if they are related. Couldn’t find any information on Matthew Wissinger.
In June 2023 they amended the LLC and Matthew Wissinger was dropped and Joesph E Burks was added. According the LinkedIn Joseph Burks is the President of Equity Title of Colorado (https://www.linkedin.com/in/joseph-e-burks-a7533a23/)
In January of 2024 a name change was filed. Hana Software is now RE-Sure (https://resure.realestate). According to LinkedIn Si Hyung Park is listed as the CEO of RE-Sure. That same month Joesph Burks also registered MAZL, LLC. Which is the entity that is listed that acquired REColorado MLS. Also some of these companies are listed at the same street address.
I had heard from a source that RE-Sure was making the round earlier this year (maybe last year) trying to get their forms solution adopted. As you may know the Colorado forms software market is pretty much locked up with CTMe (https://www.ctmecontracts.com/eContracts/wp/indexbottom.asp)
One of the MLS orgs RE-Sure was pitching to described them as “very full of themselves”.
Somewhat telling is the RE-Sure website lists SMDRA (one of the REcolorado shareholders), Equity Title, MetroBrokers Elite and Colorado Professional Title as “Our Client & Partners”.
Obviously these guys ( or maybe just Joesph Burks) had a relationship with South Metro Denver REALTORS association (SMDRA) for some time.
Not sure what all of this points too. I guess at the surface level maybe these guys think they can move the needle on the adoption of their forms solution by buying an MLS? But I doubt there’s enough revenue in forms software to justify this acquisition cost.
REcolorado blood bath?
I’m getting reports that the REcolorado board of directors was removed and the all the executive staff was fired with the exception of the CFO, Brandon Brancato. Can anyone confirm?
[RUMOR ALERT] Did REColorado MLS just get sold to a private firm?
I’m hearing from a couple sources that something big is afoot. And the unconfirmed rumor is that REColorado has been sold to an “outside party”.
I don’t know who this “outside party”. A person, a private equity firm? But, I don’t think its another MLS organizations or association. In fact for this to happen I think the shareholders of REColorado, meaning Denver Metro Association of Realtors (DMAR) and South Metro Denver Realtor Association (SMDRA), etc. must be involved.
Can anyone confirm this?
Do Denver area brokers know about this? Do they care? I would think so. 🤯
Crazy if true. DM me if you know anything.
Did Amazon just choose Lundy (not Zillow) to power the real estate voice search for Alexa?
I’m hearing YES! How cool is that!?
Previously you had to install Lundy’s real estate search as an “Alexa Skill”. From reports I’m getting markets where MLS organizations have partnerships with Lundy you can just ask Alexa straight up…
Alexa,
“Find me a house”
“Are there any homes for sale near me?”
“Help me buy a home.”
Current MLS partners for Lundy include:
Park City MLS, UT
Metrolist, CA
WARDEX, AZ
RMLS, CA
Valley MLS , AL
FMLS, FL
REcolorado, CO
Miami AOR, FL
Gulf Coast MLS, FL
Stellar MLS, FL
Greater Chattanooga, TN
Mid-Georgia MLS, FL
I wish this was set up in my market so I could test. (If your are in any of the markets above and have an Alexa device test it and tell me what you think.)
Amazon is doing some cool shit with AI and voice search, check out this video from their event last week.
I know Justin from Lundy will be at CMLS next week. I’m sure he will be happy to give demos.
Rumor Alert: More former Zillow execs bet against…wait for it… Zillow!
Talk about bad blood. I’m hearing a boatload of former Zillow execs is following Spencer Rascoff’s lead and are investing in another company that is directly competing with Zillow.
Ouch!
Developing…
Industry Relations 14: ‘MLS of Choice,’ Sam DeBord and Jeff Young of RPR
Hang around the hotel bar at CMLS2017 long enough (we’re looking at you, Greg), and you will overhear conspiracy theories about ‘MLS of Choice’ somehow leading to a national MLS. The MLS community has long feared that NAR is looking to get into the MLS business, and the rhetoric ‘of choice’ raises alarm bells in the industry. What is NAR’s intent in changing MLS Policy Statements 7.42 and 7.43? Could RPR eventually evolve into a national MLS?
Today Rob and Greg dig into the ‘MLS of Choice’ debate with Sam DeBord and Jeff Young. Sam is a member of the MLS Technology and Emerging Issues Advisory Board that revised 7.42 and 7.43, and he will serve as the Vice-Chairman of MLS Policy for NAR next year. He also serves as the managing broker for Seattle Homes Group and VP of Strategic Growth for Coldwell Banker Danforth. Sam writes for a number of real estate news outlets, and he was named to SP200’s Top 20 Social Influencers and Inman’s Top 101 in Real Estate.
Jeff Young is the Chief of Operations for Realtors Property Resource (RPR), an NAR resource providing comprehensive data, powerful analytics and client-friendly reports for each of NAR’s constituencies. Jeff has been a REALTOR since 1996, serving in various NAR leadership positions including President of the Michigan Association of Realtors in 2008. (In this live recording Jeff happen to walk by as the podcast was being recorded and coaxed in to participate.)
On this episode of Industry Relations, Greg, Rob, Sam and Jeff walk through the details of ‘MLS of Choice,’ discussing how the policy change will offer greater flexibility for brokers and agents in the MLS marketplace. They explore the MLS community’s skepticism around NAR’s intent, and whether there is any merit to the theory that this new policy might eventually lead to RPR becoming a national MLS. Listen in to understand the arguments for and against ‘MLS of Choice’–tin foil hat optional.
What’s Discussed:
The broker pain points that led to changes in MLS Policy Statements 7.42 and 7.43
The role of the MLS Technology and Emerging Issues Advisory Board
The current jurisdictional rules around MLS dues
How ‘MLS of Choice’ provides greater flexibility for brokers/agents in MLS marketplaces
Why the previous policy was endorsed
The arguments for and against ‘MLS of Choice’
Sam’s response to industry fear of NAR establishing a national MLS
The rumors that RPR could become the national MLS
Jeff’s rebuttal concerning the rumors around RPR
– RPR contracts with MLSs prevent national MLS
– RPR depends on relationships with 661 of 694 current MLSs
The confusion around ‘MLS of Choice’ as a naming convention
The concept of which MLS not if MLS
How the policy change will adversely affect MLSs that don’t provide value
CMLS’s response to the ‘MLS of Choice’ policy change
Resources:
Sam at Coldwell Banker Danforth
Realtors Property Resource
‘MLS of Choice’ Article in Inman News
Connect with Rob and Greg:
Is Lucie Fortier heading to industry startup Remine?
My sources are saying yes. I first heard of Lucie leaving CoreLogic at Inman Connect NYC. At the time she was very vague about her plans. I thought the departure was significant, since she was part of the original Tarasoft Matrix team. Which makes me wonder if there is anyone left from that original team still working at CoreLogic. Brian de Schepper now works at Zillow Group.
Remine is getting a lot of buzz lately. Here’s what their website says…
“Remine is the next wave in real estate innovation
Remine’s intuitive interface visualizes public record, consumer data and transactional information to bring Big Data to life. By connecting this information exclusively through the MLS we provide one integrated platform that allows agents to turn new opportunities into revenue.”
Sounds a lot like TLCengine.
Developing….
