Listing Bits

88 MLSs serve 80% of REALTORS. The remaining 20% are served by the rest—that's nearly 600 MLSs! We know that consolidation will make it much easier for brokers to serve consumers, but what is the best way to approach the issue? How can we work to understand the 20% in rural, small town and resort communities and bring that group in to alignment with the 80%?

Kevin McQueen is the President of the T3 Sixty MLS Division. He joined the firm with the express purpose of facilitating MLS consolidations, mergers and collaborations. Kevin has been a real estate consultant since 2000, when he founded Focus Forward to help MLSs and associations navigate the evolution of the industry. Prior to consulting, Kevin spent nine years as the CEO of Realcomp and eight years running technical operations for BORIS Systems.

Today Kevin shares his path to consulting, from his early days with BORIS to his experience consolidating MLSs in Michigan at Realcomp. He explains the role of a consultant in facilitating strategic thinking and what led to his collaboration with T3 Sixty. Listen in to understand Kevin's mission to pick up the pace of MLS consolidation, addressing problem areas individually with a quiet, flexible approach.

What's Discussed:

Kevin's early experience with MLS technical operations

How Kevin transitioned to MLS leadership at Realcomp

Kevin's insight on the benefits of consulting

Why Kevin chose the name Focus Forward

The role of a consultant in facilitating strategic thinking

• Discussion about what's possible
• Organizational assessment

Why Kevin sought a partnership with T3 Sixty

The value of accurate data in decision-making to supercede emotion-based decision making in boardrooms

The shrinking number of MLSs from 2000 to 2018

Kevin's mission to pick up the pace of MLS consolidation

• 88 MLSs serve 80% of REALTORS
• 20% served by the rest (nearly 600)

Kevin's take on NAR initiatives as dividing vs. unifying

Kevin's Do's and Don'ts of MLS consolidation

• Be flexible, modify business model
• Don't go into takeover mode

Paul Prince's quiet and respectful approach to consolidation

How Kevin's MLS map initiated a conversation

T3 Sixty's approach to addressing problem areas individually

Resources:

Number of MLSs By State

Paul Prince Case Study

T3 Summit

Connect with Kevin McQueen:

T3 Sixty

Email [email protected]

Kevin on LinkedIn

Kevin on Facebook

What do you think of when you hear the term 'MLS'? The software vendors? The providers? The database itself? What about MLS executives? We tend to use the label as a catchall for all of those things, which can get problematic.

Shelley Specchio has a handle on all aspects of the MLS system. In 1994, Shelley began her professional career publishing a home magazine for the Reno/Sparks Association of REALTORS. The association expanded in 2003 to become the Northern Nevada Regional MLS, and Shelley served as their VP of Sales and Marketing until 2008 when she transitioned to the role of CEO. Last February she became the CEO of the MIBOR REALTOR Association in Indianapolis, a unique organization that marries the MLS, the association, and a nonprofit arm to impact the community at large. Shelley is involved with NAR on the national level, serving on the MLS Executive Advisory Board.

Today Shelley addresses the role of an MLS executive, discussing her own career path and the pros and cons of the position. She shares her take on the fear of disruption in the marketplace, the Upstream initiative, and MLS consolidation. Shelley explains what drew her to the CEO position at MIBOR, describing how the association, MLS, and foundation work in tandem to impact the community. Listen in for insight around using 'MLS' as a catchall term and MIBOR's adoption of the acronym BLC.

What's Discussed:

Shelley's career path in real estate

The role of an MLS executive

The fear of disruption in the marketplace

Shifting from fear to strategic action

Shelley's take on the Upstream initiative

• No one solution for pain points
• MLS needs to facilitate choice

Other graduates of the 'Merri Jo School of MLS Execs'

Why MLS execs often relocate as they advance

The extensive travel required of MLS execs

The shrinking number of MLSs from 900 to 672

What drew Shelley to MIBOR

• Economic development piece
• Opportunity to move community forward

MIBOR's unique structure as an association and MLS

The challenges of having a new boss every year

How MLS execs build relationships with the board

The confusion around 'MLS' as a catchall term

Why MIBOR uses the term Broker Listing Cooperative

Shelley's insight on future consolidation

• Less important to merge if data flowing
• Tech like MLS Gridcould facilitate

Resources:

T3 Sixty

MLS Grid

CMLS Brings It to the Table

MIBOR REALTOR Foundation

Connect with Shelley Specchio:

MIBOR REALTOR Association

MIBOR on Facebook

MIBOR on Twitter

Shelley on LinkedIn

Real estate professionals spend $9B annually to drive traffic to their websites, but less than 1% of that traffic leads to conversion. What's to blame for this abysmal data? The vast majority of customers are looking to get an answer to a quick question, yet they are met with an aggressive chatbot who demands their contact information before agreeing to provide any information. And even if they do acquiesce to giving a name and email address or phone number, they have to wait several hours for a response. Jatinder Singh and Katie Djurich have built a better chatbot, one that uses scripted AI to engage with customers immediately and understand their needs first.

Jatinder and Katie are the visionaries behind Botplan, a chatbot for real estate that is compatible with Facebook Messenger, webchat and SMS. Available 24/7, the machine-learning tool initiates a dialogue with incoming leads, sets appointments and communicates the customer's needs to the agent. Jatinder's extensive background in the retail innovation space and Katie's experience with the real estate industry led to an interest in designing a chatbot that helps agents effectively automate this portion of their business—and enjoy an occasional family dinner!

Today Jatinder and Katie explain the problems with the current chatbot solutions on the market and how Botplan addresses those issues. Jatinder explains why Botplan is transparent about being a virtual assistant and the distinction between the questions it can and cannot answer. He discusses Botplan's ability to understand customer needs and communicate those needs with agents and how the team has made adjustments to the platform based on customer interaction. Katie and Jatinder address the reasons why chatbots that demand contact information before providing value tend to be off-putting and ineffective and how Botoplan uses scripted AI to employ the soft sell. Listen in to understand how Botplan is reaching agents and how the platform integrates with Facebook and SMS as well as webchat.

What's Discussed:

Why Jatinder and Katie built Botplan

The problems with current chat solutions

• Cost prohibitive
• Poor quality
• Limited availability

How Botplan works with Facebook, SMS and webchat

Why Botplan is transparent about being a virtual assistant

How chatbots are compatible with a busy lifestyle

The questions Botplan can and cannot answer

How Botplan works to understand the customer's needs

How Botplan communicates with agents

How Botplan has made adjustments based on customer interaction

Why chatbots that require contact information are off-putting

Botplan's use of scripted AI to engage with customers

Jatinder's background in the retail innovation space

Katie's experience in real estate and virtual tours

How Botplan is reaching agents

• Brokerages
• Tech platform providers

Resources:

Botplan Webinar Registration

Connect with Jatinder Singh & Katie Djurich:

Botplan

Botplan on Facebook

Botplan on Twitter

Botplan on Instagram

'You can change anything you want to change. People can sit around and complain all they want, or they can do something about it. We're consultants. We want to go do something about it. We're tired of talking about it. Let's just go do it.'

Victor Lund is involved in some of the most ambitious initiatives in the real estate industry. From Upstream to Broker Public Portal, Victor is passionate about solving big problems, and whether or not you agree with his approach, you have to respect his willingness to advocate for change. As the founding partner of WAVGroup, he serves as a consultant to large brokerage firms and MLSs with a particular focus on operational effectiveness, communications and strategic planning. Victor is also the founder and CEO of RE Technology, the leading real estate technology and media portal in the US.

Today Victor shares how he made the transition from venture capital to real estate consulting. He discusses the role of RE Technology and its unusual practice of inviting companies to read their articles in advance of publication. Victor defends his advocacy for the Upstream initiative, explaining the scope of the project and the many benefits it will provide for industry players. He also speaks to the intent behind Broker Public Portal, clearing up misconceptions around how Homesnap functions as a partner rather than a vendor. Listen in for Victor's insight on tackling difficult challenges in real estate and cooperation as the way forward.

What's Discussed:

Victor's transition from VC to real estate consulting

The role of RE Technology as the CNET for real estate

Why RE Technology shares its articles before publication

How WAVGroup's research department sets it apart

The significant disconnect between brokers and MLSs

Victor's participation in controversial initiatives

• Upstream
• Broker Public Portal

Victor's insight on the benefits of Upstream

• Ease burden of agent onboarding checklist
• Instant automation of systems migration
• Efficiency for vendors to deploy products
• Data sharing between MLSs and brokerages
• Facilitates data integration (acquisitions)
• Automate systems (photographer, records creation)

The incredible scope of the Upstream project

The timeline for getting Upstream up and running

Why Upstream uses Web API rather than RETS

Victor's Upstream pitch for small brokerages

• Premiere information management system

Why fear is the greatest challenge for the Upstream initiative

The impact of Add/Edit on an MLS and its related market

The intent behind Broker Public Portal

• Reimagine way consumers get info
• Consumer-facing website, benefit MLS

The joint venture between Broker Public Portal and Homesnap

How change of control provisions are built into the BPP/Homesnap contract

How Homesnap reinvented themselves as an industry partner

The concept of a parcel-centric database

Resources:

WAVes of Change

UpstreamRE

Broker Public Portal

Homesnap

Homesnap BPP

Connect with Victor Lund:

WAVGroup

RE Technology

RE Technology on Twitter

Victor on Facebook

Victor on LinkedIn

Victor on Twitter

As the saying goes, the best CRM is the one you use. Today's guest has enjoyed great success onboarding agents to his platform, and when brokers with a strong training culture employ his software, agent adoption is as high as 80%--compared to the industry average 6%. So what's his secret?

Zvi Band is the co-founder and CEO of Contactually, the leading intelligent CRM for real estate professionals. Agents have seen an average increase in GCI of 42% by staying in personal contact with their networks through Contactually, and the platform has facilitated $3B in deals closed. Zvi is also the co-founder and organizer of DC Tech Meetup, a monthly gathering of entrepreneurs, technologists and investors to see demos, launch products and network. Since its inception in 2011, the meetup has grown to a community of 18,000, making it one of the largest tech meetups in the country.

Today Zvi explains how his nomadic childhood and an early passion for building things led him to become a software developer. He discusses the significance of relationships in furthering his career and walks us through the way Contactually functions to help real estate agents maintain important business relationships. Zvi shares the thinking behind his decisions to fund Contactually via investors, to offer a multifaceted onboarding process, and to give prospects a 14-day free trial without securing credit card information in advance. Listen in and learn what contributes to Contactually's success within a brokerage and how Zvi addresses agent concerns around sharing their contacts.

What's Discussed:

Zvi's nomadic childhood in an academic family

How the Contactually intelligence CRM serves brokerages and agents

Zvi's insight relationships as the most important asset you can have

The value of cadence in maintaining relationships

Why Zvi chose investors over self-funding

The shift from raising capital to building a business

Zvi's take on why Contactually enjoyed strong adoption early on

Zvi's proposal around pooling capital to solve big problems in real estate tech

The initial Contactually customer base of agents and teams

How Contactually has evolved to serve brokerages

Contactually's multifaceted onboarding process

Why Contactually offers a free 14-day trial without requiring credit card info

Contactually's growth from three to 70 team members

The remote-friendly culture at Contactually

What contributes to Contactually's success within a brokerage

• Provides tech AND systems
• Integration with other toolsets
• Open-ended training options

How Contactually addresses agent resistance to sharing contacts with brokers

Contactually's focus on helping brokers use available data

Resources:

Nintendo Labo

Connect with Zvi Band:

Contactually

Zvi's Website

Zvi on LinkedIn

Zvi on Twitter

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