Listing Bits

The vast majority of real estate professionals read the annual Swanepoel Trends Report for its analysis of the top developments shaping the industry. A phenomenal resource for agents, brokerages, associations, MLS firms and vendors, the T3 Sixty report offers in-depth research around what’s happening in real estate—from investment in tech innovation to the direct buyer phenomena to the latest brokerage models.   Jack Miller is the President and CTO of T3 Sixty, a team of strategic, technological and managerial experts in the residential real estate industry. The premiere consulting firm facilitates solutions for industry players throughout the US and Canada, leveraging their team’s vast experience and personal connections. T3 Sixty offers a wide range of support, including strategic development, technology audits, system design, operational improvement and continuous comprehensive market research. Jack has 16-plus years of experience in real estate, previously serving as the CTO of a boutique real estate brokerage that won Inman’s Innovator of the Year Award.   Today Jack shares his entry into real estate, explaining his role on the Keller Williams software development team as the firm grew from regional player to national franchise. He offers his take on the increasing importance of brokerage culture, the rise of the tech-enabled firm, and the impact of the recent influx of capital in the industry. Jack walk us through several current trends, including the legitimization of the FSBO model, the shifting role of the real estate agent, and the increasing velocity of brokerage expansion. He speaks to the best representations of the newer business models and the momentum of flat fee companies like HomeSmart. Listen in for Jack’s insight around T3 Sixty’s role in the industry and his advice for agents and brokers in the internet age.   What’s Discussed:    Jack’s unique introduction to real estate on Keller Williams’ software development team The increasing importance of culture as part of the brokerage value proposition How tech innovation has shifted from consideration to core requirement The potential impact of the billions invested in real estate in 2017 The role of technology in the growing speed of brokerage expansion The legitimization of the direct buyer (FSBO) model Why it’s difficult to commodify real estate The changing role of the agent as a consultant, counselor The best representations of the newer business models Redfin, Compass and Opendoor Momentum of flat fee companies (e.g.: HomeSmart) Why T3 Sixty is betting on the trend toward consolidation T3 Sixty’s branding as the premiere consulting team for larger, more sophisticated companies Jack’s advice for new agents around building relationships How brokerages can recruit a specific audience of agents   Resources:   Swanepoel Trends Report Books by Stefan T3 Summit T3 Brokerage Accelerator   Connect with Jack Miller:   T3 Sixty Real Estate Trends on Facebook Jack on Facebook Stefan on Facebook Stefan on Twitter      

The concept of the MLS creates a strange contradiction for brokers who are both competing with one another, yet sharing inventory by way of compensation and cooperation. In the middle of it all is CMLS, challenged with refereeing any acrimony between brokers and MLSs, promoting best practices, and supporting its membership of 203 MLS providers representing 1.2 million subscribers. At the helm is Denee Evans, the CEO of this premiere organization dedicated to leading the MLS industry in North America. Denee is a self-proclaimed small-town girl who grew up in Nevada, earning a degree in finance with a specialization in real estate from UNLV. She has always been involved in the industry in some form, doing flips, additions, as well as scrape and builds. Denee spent more than a decade in retail banking, where she dealt with home equity and mortgage loans. Prior to her role with CMLS, Denee was the Executive Director for EnergyFit Nevada, a nonprofit working to make homes more energy efficient. Through EnergyFit’s efforts to add sustainability information to the MLS, she learned about the opening for CMLS CEO and threw her hat into the ring. Today, Greg asks Denee the tough questions around how to address MLS’s that don’t comply with best practices, the best way for CMLS to support its members, and the organization’s partnership with NAR. Denee explains the ‘blessing and the curse’ of taking on the role of CEO as an outsider in the MLS industry and the benefit for consumers when organized real estate’s stakeholders collaborate. Listen in and learn about the CMLS initiative to create an interactive tool that would assist MLSs in developing a plan to implement best practices. What’s Discussed: How Denee’s background in banking informs her understanding of real estate The intense interview process she experienced to become CEO of CMLS The blessing and the curse of being an MLS outsider Denee’s take on the ‘us v. them’ mentality of industry stakeholders The dichotomy around brokers competing, yet sharing inventory The challenge for MLS execs to make diverse stakeholders happy The benefit for consumers when stakeholders cooperate Denee’s role as an advocate for MLS execs Denee’s contention that pain points exist in MLS’s of all sizes The ‘wall of shame’ identifying who hasn’t complied with CMLS best practices Greg’s proposal to offer free CMLS memberships to non-compliant MLSs CMLS’s plans to create a best practices interactive tool - Developed at last CMLS strategic planning session - Could grow into certification necessary for membership How CMLS should provide support to its members - Education v. leadership/advocacy - Study of industry initiatives to identify needs (e.g.: Upstream) The controversy around CMLS’s partnership with NAR - CMLS members assigned seats on NAR committees - Speak as national voice for CMLS   Resources: White Paper 7.42 2017 CMLS Best Practices Survey Brief   Connect with Denee Evans: The Council of Multiple Listing Services Denee on LinkedIn Denee on Twitter

Katie Smithson picks her battles. Even well-meaning colleagues occasionally make insulting or offensive comments, and a professional woman has to decide what she can brush off and what she simply cannot accept. Though the lines can be blurry, nine years in the industry have taught Katie how to establish boundaries and present herself as a professional. Katie grew up in Franklin, Tennessee, and went to school at Tennessee Technological University. Discouraged by the boys’ club that was electrical engineering, she changed her plans and pursued a degree in marketing. Her first foray into sales and customer service was at a Sprint/Nextel store back in Franklin, where she saw the first MLS searches on a Blackberry. After a move to Knoxville, Katie worked in marketing for a local mortgage company that happened to use CRS Data for tax purposes. Tired of spending her days in a cubicle, she noticed an opening for a trainer at CRS. Katie won them over and secured her first job in real estate. After four years working with agents, realtors and MLS execs to implement the use of CRS products, Katie had a conversation with Greg in a lobby bar at CMLS Boston, and the rest is history. She has worked at W+R Studios for five years, serving as Director of MLS Services since 2016.  Today she shares the details of her activism through the Georgia Women’s Policy Institute, the challenges for women in the real estate industry, and her advice around establishing professional boundaries.  What’s Discussed:  Why Katie gave up on electrical engineering to pursue a marketing degree  Katie’s early sales and customer service experience at Sprint/Nextel How Katie got involved with the real estate industry Katie’s role as Director of MLS Services at W+R Studios The shift from training to sales Katie’s work with the Georgia Women’s Policy Institute - Issues affecting women, children - Get in front of legislators  The challenges for women in the real estate industry How Katie establishes boundaries as a professional woman The complications of alcohol as part of industry culture How Katie’s reputation in the industry has improved her experience with sexism Katie’s advice for women coming up in the industry - Keep your head on straight - Maintain professionalism  - Have a buddy The challenge of dressing appropriately for women in a business environment Katie’s recommendations around resources for sales executives Resources: CRS Data Arianna Huffington on Repeating Outfits ‘The Rock’ Test for Sexual Harassment  Inc. Magazine Connect with Katie Smithson: W+R Studios Georgia Women’s Policy Institute Katie on LinkedIn

By 2009, mobile users could do a lot with smartphone apps—get directions, listen to music, take pictures, play games, even film a video. Aaron Kardell thought that you ought to be able to add ‘look for a house’ to the growing list of applications, and he founded HomeSpotter with the intention of doing just that.   Aaron grew up in rural Nebraska in a family of entrepreneurs. He started writing software programs in high school, and went on to earn a BS in computer science at Bethel University in St. Paul, Minnesota. He originated several businesses, including Altona Ed, an ed tech student information system that was acquired by Pearson School Systems in 2004. Aaron’s first experience with location-based iPhone applications came along in 2009 when he created iGarageSale. Very shortly thereafter, a broker contacted Aaron about building an app to complement the firm’s successful lead generating website. Aaron retained intellectual property rights, and Mobile Realty Apps was born. The company rebranded as HomeSpotter in 2015, and today they have offerings for MLSs, brokers and agents. On this episode, Aaron joins Greg live from CMLS in Austin to discuss HomeSpotter’s business model, the latest capabilities around mobile listing input, and HomeSpotter’s recent launch of Boost, an automated digital marketing system with trackable ROI.     What’s Discussed:    Aaron’s entrepreneurial family  How Aaron developed an interest in writing software programs   The genesis of HomeSpotter -  Created iGarageSale app -  Realtor asked to build app as consultant -  Retained intellectual property rights   The tactical mistakes HomeSpotter made early on Why Aaron chose to take the native mobile route How Aaron built a business in the 99¢ app store world -  Relied on SaaS model -  White label broker offering   HomeSpotter’s service offerings -  White label platform for brokers -  MLS member access on-the-go -  Boost (automated digital marketing with trackable ROI)   How high agent adoption in MLS markets led to the introduction of additional products The new capabilities around mobile listing input   -  Ability to edit listings (corrections, status changes) -  Update photo support capabilities How Aaron funded HomeSpotter -  Personal capital sustained first three years -  Angel investors in Minneapolis/St. Paul   The particulars of HomeSpotter’s newest offering, Boost -  Automated system -  For agents, teams, brokers -  Creates Facebook/Instagram ads for each new listing -  Targets prospective buyers and seller -  Helps average agent be more effective with marketing   Greg’s hesitance to get into the ‘advertising business’ Why agents are willing to spend more for advertising than tools The scalability of an app like Boost How HomeSpotter is upselling current subscribers to try Boost    -  Partnering with brokers, franchises, MLSs -  Email agent when listing added -  Brokers pay for initial week in some cases   How Aaron’s team generates ideas for new products Cloud CMA’s deal with Tom Ferry The pros and cons of a pay-per-listing pricing model The difference between HomeSpotter’s free and premium versions for MLS   Resources:   Cloud CMA’s Listing Presentation Kit by Tom Ferry Zillow’s Report on Trends in Residential Relocation   Connect with Aaron Kardell:   HomeSpotter Aaron on LinkedIn

If you feared more of the same when Bob Goldberg was named CEO of NAR, take heart. The rhetoric of our new leadership is focused on engagement, openness and transparency—knocking down the façade of the ‘Ivory Tower’ and facilitating dialogue with members, even those who disagree. Bob Goldberg has been a senior executive with NAR since 1995, and his accomplishments include the launch of the REALTOR Benefits Program, the introduction of the top-level domain initiative, and the expansion of NAR’s technology partnerships via Second City Ventures and its REach Technology Accelerator. Prior to NAR, Goldberg served as senior vice president with PRC Realty Systems. Bob is lauded for his leadership, recently named one of the 2017 Swanepoel Power 200 and Inman News Real Estate Influencers of 2017. Bob has forged his career on designing programs and partnerships to strengthen the REALTOR organization and drive success for its 1.2 million members. Today, he explains his approach to ushering in a new era at NAR, discussing his pursuit of transparency through social media, interviews and opportunities for Q&A. He also addresses his intention to serve members via a ‘flipping the pyramid’ model of leadership, and how he plans to empower his team with the authority to drive change. Listen to understand why Bob is an advocate of tech initiative partnerships, and how NAR can tackle the issue of professionalism among its members—with both consumers and fellow agents. What’s Discussed:  Bob’s pursuit of openness and transparency  How Bob plans to connect directly with NAR members Bob’s interview with Andrew Flachner of RealScout How Bob and the panel approached Q&A at the NAR Leadership Summit Bob’s intention to facilitate honest discussion about industry issues Bob’s mission to break down the façade of the ‘Ivory Tower’ Message was controlled in past Initiate dialogue with dissenting voices Bob’s ‘flipping the pyramid’ concept Think from member perspective first Encourage member engagement The upcoming NAR organizational design study Greg’s characterization of Bob as having a ‘vibe of inclusiveness’ Bob’s aim to be a different kind of leader Visionary Empower team with authority to drive change Bob’s background in MLS technology with PRC How Bob plans to assess the value prop of tech initiatives Cost of product Member use The NAR budget process How NAR decides to sunset a program that’s run its course Why Bob does not advocate for a national MLS Not NAR’s core competency NAR doesn’t have funding to compete Better to seek partnerships with experts Bob’s take on NAR’s role in raising the bar for agents Professionalism with consumers and fellow members The complexity of addressing professionalism in the industry Bob’s willingness to be embrace social media The world-class talent at NAR The network effect of engagement    Resources: NAR Leadership Summit on Facebook Live  RealScout Interview with Bob Goldberg RealScout on Facebook   Connect with Bob Goldberg: Bob on Facebook Bob on LinkedIn NAR Leadership Team on Facebook NAR Leadership on Twitter  

The Upstream Pivot with FBS CEO Michael Wurzer I had a chance to sit down with Mike Wurzer again at NAR Midyear to discuss the recent announcement about Upstream, well not really doing upstream anymore.  This was recorded before NAR announced the details to their additional funding.  More on that in a later blog post. The first step of problem-solving is to assign blame. Right?   That seems to be part of Upstream’s tactics in explaining their delayed progress at NAR’s May Legislative Meeting in DC. They succeeded in raising the heartrate of today’s guest – by implying that a lack of cooperation from vendors is to blame for the snail’s pace of the project. Upstream also made a big announcement regarding what they term as a pivot, but may be more appropriately called a 180.   Michael Wurzer is the President and CEO of FBS, an employee-owned company committed to exceeding customer expectations. Their signature product, Flexmls, is a standards-driven technology platform connecting real estate professionals to their customers with collaboration tools that deliver timely and accurate information. FBS products serve 185 organizations and 2,000-plus agents in the real estate sector.   Under Wurzer’s leadership for the past 20 years, FBS has worked to constantly evolve and embrace change. They were among the first to build a web-based system, striking a balance between the stability of being an established company and creating a culture of innovation. Today he examines the Upstream pivot in detail, discussing how the Upstream messaging has evolved over time, the pain points the initiative was working to address, and the need to foster collaboration among industry players.   What’s Discussed:    The major players in the Upstream initiative How the Upstream messaging has evolved over time The major Upstream pivot announced at NAR’s Legislative Meetings How the pivot was influenced by feedback from experienced MLS professionals Greg’s take on the fundamental change in premise of the Upstream initiative The pain points the Upstream project was working to address Ability to sync listings Integration with third party products The buy-in for Upstream from big brands Upstream’s explanation for its delayed progress The need to foster collaboration among industry players rather than assigning blame All focused on solving broker problems The CMLS campaign to highlight the value of the MLS The controversy over RPR’s team of developers The confusion re: the meaning of a ‘live demo’ The ability to enter a listing from third-party system as a RESO objective The evolution of technology in the real estate software space ‘We’re building the airplane as we’re flying it’ Success stories in MLS system consolidation The beauty of competition in shaping market dynamics Zillow’s next steps in light of the Upstream pivot The need for clarity of communication re: syndication What the Upstream pivot means for AMP Wurzer’s prediction of what’s next in real estate tech innovation Upstream as ‘another option’ rather than a revolution   Resources:   Realtor Magazine Article   “Upstream Returns to Earth” by Matt Cohen   Connect with Michael Wurzer:   Email mwurzer@flexmls.com Twitter Blog  

Henry Ford is credited with saying, ‘If I had asked people what they wanted, they would have said faster horses.’ True innovation provides you with the tools you didn’t even know you needed. Today’s guest understands the challenges of the real estate industry, and he created a platform that provides a unique solution tailored to the work we do. A solution that will make you wonder how you ever did without!   Tyler Gordon is the CEO and Founder of Agent Inbox, an all-in-one communications platform that empowers MLSs to launch a market-wide platform that allows every agent to communicate with every other agent about any listing, from any device, within any product. Agent Inbox seeks to build the messaging infrastructure so that everyone involved in the real estate transaction (including vendors) can effectively communicate via one system.   After graduating from the University of Florida with a degree in finance, Gordon went to work for Grooveshark, an on-demand streaming music service, where he built their data products and market research team, boasting a research panel of over 300,000 participants. From there, he joined the family business, a real estate brokerage in south Florida. Realizing just how difficult it was to be a real estate agent, Gordon set out to solve some of the problems he encountered – and Agent Inbox was born. Today, Gordon explains the nuts and bolts of Agent Inbox, sharing how the tool works with any app under the MLS umbrella. Listen and learn the benefits of a single communication system that connects all the stakeholders involved in the real estate transaction! What’s Discussed:  The shift in how people communicate Agents have migrated away from phone/email The idea behind Agent Inbox Create market-wide messaging platform Every agent can communicate with every other agent The installation of Agent Inbox Integrated directly into MLS link App is available to download, but not necessary to use the service How to access Agent Inbox How the Agent Inbox infrastructure might be used to include other industry stakeholders MLS Association Vendors The benefits of Agent Inbox Sits on top of any product in MLS Allows for live, contextual conversation How Agent Inbox was conceived The trend toward specialized products Where Agent Inbox is already up and running The user-friendly nature of Agent Inbox The benefits of messaging (vs. email) 99% of people open, 95% respond Socially acceptable to wait several days before responding to email   Resources: Intercom Customer Messaging Platform Slack Team Messaging Connect with Tyler Gordon: Agent Inbox Email tyler@agentinbox.com

LIVE from the RESO Spring Conference 2017   ‘…You’re building a new infrastructure. You’re building a brand new interstate, and one of the hardest things is the off ramp and the on ramp.’ RETS has been a solid technology standard for fifteen years, and many vendors are resistant to make the change to API. But as the needs of mobile shift the industry, a new ‘interstate’ is necessary. Today’s guest is prepared to discuss the details of this controversial pivot. Jeremy Crawford is the CEO of RESO, the organization responsible for the creation, promotion and adoption of standards in the real estate industry. RESO seeks to fuel innovation and help streamline the real estate transaction. Crawford has been involved with RESO since 2010, serving on its Board of Directors and co-leading the Education and Outreach Workgroup. He has a unique combination of talent and experience, with an extensive background in information technology and corporate management. After graduating from East Tennessee State University with a degree in computer science, he landed an IT position with Safeco Insurance. From there, he worked in network management for BB&T Corporation and MarketLinx (a division of CoreLogic). His resume also includes leadership roles as CIO of SANDICOR, CIO and COO of MLSListings, and COO of Aculist. Crawford explains the need for a pivot away from RETS to API, the benefits of saved search portability, and the progress of the transition to date. Listen in to understand the steps being taken to improve the permissioning process and who might play a role in further advances.   What’s Discussed:  The controversial pivot to API Resistance from traditional vendors Interstate analogy (on and off ramps) Shifting needs require API Parallel uses of both RETS and API likely The progress of the move to API Distribution piece complete Updates component under development The vendors who are taking advantage of API capabilities The benefits of switching to API for established vendors API built to access data on the fly Can still replicate data, but have option not to Saved search portability Progress with regard to the challenges of permissioning Standardized data licensing agreements NAR turnaround time policy for IDX access Access to developmental data feeds to facilitate product development Who is responsible for permissioning process RESO R&D Workgroup drafting best practices Brokers must help shepherd process along   Resources: AgentSquared  Agent Inbox   Connect with Jeremy Crawford: RESO Twitter

LIVE from the RESO Spring Conference 2017! In a world where your every move is tracked via geocode through your Starbucks orders and Instagram posts, there is an abundance of data. And those who know how to interpret that information can learn an awful lot about a person and her behavior, using it to either market or serve … or both. The world of real estate is no different, and there is much buzz in the industry regarding an innovative new data solutions product for agents. Remine is a Big Data company that delivers predictive analytics to real estate professionals exclusively through their MLS. They analyze property records, transactional history and consumer data to determine someone’s propensity of buy, sell or refinance a home. Their user interface utilizes heat maps and other visualizations to help real estate professionals contextualize data, identify new leads and win more business. The team is comprised of successful agents who understand the needs of real estate professionals.   Jonathan Spinetto is the COO of Remine, and he has been a licensed agent since 2002. Using his own custom technology systems, Spinetto has completed over 3,000 single family residential transactions. As both a practitioner and a technologist who offers unique insight into industry trends, he delivers keynotes internationally around Big Data in real estate. Lucie Fortier is the newly appointed VP of Product. She brings an understanding of the MLS space and a great deal of implementation experience to the Remine team. Fortier spent the last five years as Senior Director of Operations at CoreLogic, where she was accountable for the support and execution of a suite of Real Estate web-based applications delivered to 600,000-plus agents in the US and Canada. Spinetto and Fortier articulate the specifics of the Remine product and how it ties together property attributes with data about people in order to provide meaningful insight for agents. Listen and learn how Remine is different from other companies that offer predictive analytics and why they chose to partner with MLSs. What’s Discussed:   How Remine employs data to help agents find prospects Why Remine doesn’t fit into a particular product category The types of data Remine has aggregated and linked to MLS data Contact info Property data Mortgage data Airbnb data Predictive analytics Individual stats about residents Parcels Why Fortier joined the Remine team The beauty of providing meaningful insight that agents can use The difference between Remine and other companies that offer predictive analytics MLS-centric (available to all members) How Remine democratizes the data to help agents be proactive How Remine fills a gap in the real estate tech space Why Remine chose to partner with MLSs rather than sell directly to agents The importance of face-to-face demos The necessity of stewardship when it comes to data sharing Privacy concerns Shift in societal norms The responsibilities of a company like Remine to share appropriate personal information Controlling product delivery via coordination with MLS systems helps stop bad actors The Remine implementation schedule What Fortier brings to the table as VP of Product Understanding of MLS space and how agents use applications Experience in implementation How Remine adjusts predictive analytics to localize to a given area How Remine is funded   Connect with Jonathan Spinetto and Lucie Fortier:   Remine

Pioneering Innovation in Real Estate Tech with WolfNet CEO Joel MacIntosh LIVE from the RESP Spring Conference 2017! Talk about being at the forefront of new technologies… Today’s guest was working to develop ecommerce in the mid-1990s, streaming video in 1998, and consolidating MLS data in 2000. Joel MacIntosh is the CEO of WolfNet Technologies, a real estate tech pioneer offering highly configurable IDX and VOW property search applications, MLS data standardization services, and property search API services. WolfNet accesses data from 600-plus MLSs in North America, offering the most accurate and up-to-date MLS data in the business, and the company serves national franchises, brokers, agents and MLSs. After graduating from the University of Minnesota’s Carlson School of Management with a BS in Entrepreneurship and Business Management, MacIntosh founded WolfNet in 1996 as a work-for-hire web development company. WolfNet moved into the real estate space in 2000 when a broker approached the firm with an interest in "Broker Reciprocity", and they have been developing groundbreaking products and services for the industry ever since. MacIntosh was recently named one of the 200 Most Powerful People in Real Estate for a reason, and today he shares how WolfNet stays on the cutting-edge of real estate software innovation. Listen and learn about their flagship products and services as well as projects in the works around photo image categorization and AI.   What’s Discussed:    WolfNet’s journey from work-for-hire web development to real estate tech WolfNet’s flagship products Why MacIntosh favors the consulting aspect of his work in the data space How WolfNet pioneered data sharing among MLS systems Up and running in Minnesota since 2001 Big growth from 2008-2012 Just added 635th MLS Why most bigger players prefer direct database access over RETS The benefits for WolfNet of building their own API The two main WolfNet customer profiles Established companies who want the data Newer ‘bootstrap’ firms who want a transactional API The ‘magic number’ of MLS markets at which point a company benefits from aggregating the data itself How the numbers validate the concept of consolidation Fewer than 10 MLSs have more than 100,000 active listings 118 MLSs have 25,000-plus active listings It takes 234 MLSs to get to 90% of the listing inventory 500 MLSs comprise roughly 8.6% of the inventory and just 3,000 listings WolfNet’s client base How the data services component of WolfNet was conceived and productized The built-in permissioning WolfNet offers How WolfNet’s additional features connect data points to add significant value Photo processing to generate thumbnails Address data processing Acquiring public records data What is involved in WolfNet’s image categorization and tagging project Identifies the category of room pictured in a photo (i.e.: kitchen, mudroom) Distinguishes specific attributes (e.g.: white kitchen with stainless steel appliances) Utilizes technology trained via neural network and human tools 100,000,000 photos processed MacIntosh anticipates release at the end of next quarter WolfNet’s new data loader product Vendors introducing AI in the real estate software space that impress MacIntosh   Connect with Joel MacIntosh:   WolfNet Website