Greg is just landed back home from NAR Boston and Rob is curious to what insights he learned.  Greg’s main insight is that he isn’t as young as he once was.

1. Election Impact on Real Estate:

• Rob and Greg delve into the recent election results, exploring how potential changes in government could impact HUD and real estate policies.

• Debate on the future leadership of HUD and the potential impacts on the industry.

2. National Association of Realtors (NAR) Conference Recap:

• Greg shares insights from the recent NAR conference, touching on the atmosphere post-election and key sessions he attended.

• Discussion about attendee sentiment, especially regarding political and economic concerns within the real estate industry.

3. MLS (Multiple Listing Service) & CCP Discussions:

• The episode dives deep into the complexities of MLS structures, with Greg suggesting a “domino effect” that could lead to significant industry shifts if CCP (Clear Cooperation Policy) and co-mingling rules were altered.

• Speculations on Zillow’s role in the MLS space, its motivations, and how upcoming changes might benefit or challenge existing MLS structures.

4. NAR’s Controversial Communication:

• The hosts criticize NAR’s handling of sensitive topics, including CCP discussions, arguing for more transparency and authenticity in its public communications.

5. MLS Independence and Potential Changes:

• Rob and Greg discuss the possibility and challenges of MLS organizations operating independently of NAR.

• Debate around whether separating from NAR could lead to more effective and regionally responsive MLS services.

6. Event Announcements:

• Promotion of the upcoming “MLS Reset Conference” in Arizona (January 2025), organized by Giant Steps and the PRESTA Team, aimed at exploring the future of MLS and real estate industry evolution along with CoreLogic’s Clariety25 Conference in February.

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Operating Cash Flow for  REA Group (Australia) from Mike Deplete

How much does U.S. Department of Housing and Urban Development in the United States pay?

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

CoreLogic

Notorious VIP

The Giant Steps Job Board

This podcast is produced by Sunbound Studios

In this episode of Industry Relations, Rob and Greg explore the evolving definition of an “open market” in real estate. They discuss how consumer expectations, technology shifts, and the dominance of platforms like Zillow are reshaping what it means for a listing to be considered publicly available. The conversation also covers the historical role of the MLS, comparisons to other industries, and whether the industry should rethink its terminology to focus on “fair marketplaces” instead of “open marketplaces.”

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Key Takeaways

• Definition of Open Market – Rob and Greg discuss the historical and modern interpretations of what constitutes an open market for real estate listings.
• MLS vs. Portals – Analysis of how MLS participation historically defined an open market and how that has shifted with the rise of Zillow and other portals.
• Consumer Behavior and Technology – Exploration of how changes in consumer behavior and technology have influenced the industry’s definition of market openness.
• Fair Market vs. Open Market – Debate over whether “fair marketplace” would be a more accurate and useful term moving forward.
• Risks of Portal Dominance – Discussion on the risks associated with defining the open market based on a single platform’s dominance.

Connect with Rob and Greg

Rob’s Website https://notoriousrob.substack.com/

Greg’s Website https://www.vendoralley.com/about-2/

Our Sponsors:

Cotality https://www.cotality.com/

Notorious VIP https://notoriousrob.substack.com

The Giant Steps Job Board https://vendoralley.jobboard.io/

Production and Editing Services by Sunbound Studios 

The Industry Relations Podcast is now available on your favorite podcast player!

Overview

Greg shares a new AI-built Chrome extension that solves a surprisingly common MLS workflow problem before Rob and Greg revisit last week’s conversation with Professor Hayunga. They dig deeper into the debate over private listings, buyer behavior, and whether exclusivity can actually increase sale prices. The conversation expands into real estate auctions, the purpose of industry policy, NAR governance, and the upcoming legal battle between Zillow and MRED over listing access and the Zillow Listing Access Standards.

Key Takeaways

• Greg explains his new Chrome extension that copies MLS numbers from major listing portals.
• More analysis of Professor Hayunga’s research on private listings and buyer behavior.
• Why some buyers may willingly pay a premium for exclusive access.
• Should residential real estate move toward open auction models?
• A debate over competition, regulation, and the role of NAR and MLS policy.
• Breaking down the upcoming Zillow vs. MRED legal hearing and what it could mean for the industry

Links

Greg’s MLS Number Copier Chrome Extension

Spoken Plainly: What the Zillow-MRED Hearing Is and Isn’t

Connect with Rob and Greg

Rob’s Website 

Greg’s Website 

Watch us on YouTube

Our Sponsors:

Cotality 

Notorious VIP

The Giant Steps Job Board 

Production and Editing Services by Sunbound Studios

The Industry Relations Podcast is now available on your favorite podcast player!

Overview

This episode starts with Greg discussing Giant Steps’ new MLS channel guidebook and the growing difficulty vendors face navigating organized real estate. Rob and Greg unpack how MLS relationships, site licenses, and enterprise deals have changed, why vendor distribution is getting harder, and how AI could completely reshape SaaS and real estate technology business models. The conversation then shifts into AI as “labor” rather than just software, token-based economics, infrastructure wars between Zillow, Compass, and the MLS ecosystem, and how the fallout from Sitzer/Burnett continues to reshape the industry. They also debate BLX, MLS cooperation, and whether MLSs are behaving more like governments than businesses.

Key Takeaways

• Greg explains why MLS site-license deals are becoming rarer and why vendors increasingly need direct-to-agent strategies.
• Rob compares MLSs to government bureaucracies and argues vendors often need “lobbyists” to navigate the system.
• Discussion on AI shifting from a SaaS tool to a labor replacement model powered by compute and tokens.
• Rob and Greg explore how Zillow, Compass, and MLSs are competing to become the core infrastructure layer of real estate.
• Debate over whether BLX strengthens MLS cooperation or creates a path around traditional MLS systems.
• The long-term ripple effects of Sitzer/Burnett continue to reshape technology, brokerage, and listing distribution strategies.

Links

The MLS Channel Field Guide – From Giant Steps

Connect with Rob and Greg

Rob’s Website 

Greg’s Website 

Watch us on YouTube

Our Sponsors:

Cotality 

Notorious VIP

The Giant Steps Job Board 

Production and Editing Services by Sunbound Studios

The Industry Relations Podcast is now available on your favorite podcast player!

Overview

Rob and Greg react to Cotality’s launch of BLX, a new broker-focused listing input platform that immediately sparks debate over whether it’s a defensive move against portals or “Project Upstream” all over again. They dig into broker control, MLS compliance, native Matrix integration, and whether MLSs were blindsided by the launch.

They also discuss Zillow filing suit against MRED and Compass over private listings, leading into a larger conversation about industry framing, consumer transparency, and whether Zillow has become an unofficial regulator of real estate.

Key Takeaways

• Cotality launched BLX, a broker listing input and distribution platform aimed at streamlining listing management across MLSs and portals.
• Rob questions whether BLX effectively bypasses MLS authority and compares it directly to Project Upstream.
• Greg argues the product is more about preserving MLS relevance as brokers increasingly use portal-based listing input systems.
• Debate over whether MLSs were informed ahead of the BLX launch and how major Matrix customers may react.
• Discussion around broker control vs. MLS compliance rules, especially regarding listing distribution and branding.
• Zillow sued MRED and Compass over private listings and alleged restriction of competition.
• Rob and Greg debate Zillow’s influence over consumer perception and whether portals should be shaping

Connect with Rob and Greg

Rob’s Website 

Greg’s Website 

Watch us on YouTube

Our Sponsors:

Cotality 

Notorious VIP

The Giant Steps Job Board 

Production and Editing Services by Sunbound Studios

The Industry Relations Podcast is now available on your favorite podcast player!

Overview
Greg previews his ICE keynote, “What If We’re Wrong?”, challenging core MLS assumptions around data ownership, cooperation, and control. The discussion quickly shifts to MRED’s push to limit public data visibility, sparking a broader debate on transparency, Zillow’s leverage, and whether MLSs still hold real power.

Rob argues the industry is already moving past NAR’s authority, while both highlight growing instability across MLSs, vendors, and business models. The episode ends on a bigger theme: rapid change, AI, and the need for organizations to adapt fast—or fall behind.

Key Takeaways
– MLS assumptions around data and control are being tested  
– MRED vs. Zillow signals a larger industry power struggle  
– NAR is shifting toward an advisory role, not enforcement  
– Larger MLSs are acting independently; smaller ones may still rely on NAR  
– Vendors and MLSs face increasing uncertainty and decision paralysis  
– AI is accelerating disruption across the industry  
– Success now depends on speed, flexibility, and willingness to adapt

Connect with Rob and Greg

Rob’s Website 

Greg’s Website 

Watch us on YouTube

Our Sponsors:

Cotality 

Notorious VIP

The Giant Steps Job Board 

Production and Editing Services by Sunbound Studios

The Industry Relations Podcast is now available on your favorite podcast player!

Overview

Rob and Greg break down the major industry-shaking news of the week: Real Brokerage acquiring RE/MAX, and what that means for brokerage consolidation, valuation logic, and the future competitive landscape.

They then dive into the far bigger strategic battle unfolding between Compass, MLSs like MRED, and portals like Zillow. The discussion centers on private listings, MLS policy fragmentation, and whether the industry is heading toward a full-scale “team vs team” conflict over control of listing data.

The episode explores how MLS consolidation, broker strategy, and consumer expectations are colliding—and whether this moment forces the industry into a decisive power struggle.

Key Takeaways

• Real Brokerage acquires RE/MAX
  A surprising buyer shakes up expectations around consolidation. The valuation gap raises questions about deal structure and long-term strategy.
• Consolidation is accelerating
  The deal reinforces a broader trend: bundling, scale, and platform expansion are becoming central to survival.
• Compass vs Zillow dynamic is escalating
  The industry is increasingly splitting into competing camps, with MLSs, brokerages, and platforms aligning strategically.
• MRED move reframes MLS power
  Opening the door for national listing distribution and cross-MLS participation could shift how MLS boundaries function.
• Agent behavior is the wild card
  Whether agents actually join additional MLSs (even if subsidized) will determine how impactful these strategies become.
• Data control = power
  The core conflict is about who controls listing visibility—MLSs, brokerages, or portals—and how that affects consumers.
• Potential “war” scenario
  If tensions escalate, outcomes could include rule changes, platform retaliation, or a forced industry reset that determines who ultimately sets the rules.

Connect with Rob and Greg

Rob’s Website 

Greg’s Website 

Watch us on YouTube

Our Sponsors:

Cotality 

Notorious VIP

The Giant Steps Job Board 

Production and Editing Services by Sunbound Studios