Data is the new oil—and the one with the most insight wins.
As technology becomes more and more important to the industry, many brokerages are justifiably concerned that real estate will go the way of travel and eCommerce, eventually doing away with the agent altogether. Gary Keller is uneasy about the current shift from tech-enabled agent to agent-enabled technology, and that is where he is drawing a line in the sand. But his controversial ‘KW First’ solution has a lot of us scratching our heads…
Rob and Greg are camped out in the lobby of the 2018 MLS Executive Workshop to talk about Gary Keller’s polarizing vision speech at the recent Keller Williams’ Family Reunion. They are joined by Sunny Lake, official wrangler of Rob Hahn and partner in charge of brokerage consulting with 7DS Associates. Tim Dain, President of MARIS, the regional MLS serving Greater St. Louis, wanders into the conversation as well.
Rob, Greg and Sunny walk us through the crux of Gary Keller’s speech, explaining his fear of the shift from tech-enabled agent to agent-enabled technology. Rob explains his take that Garry correctly identified the problem but is misguided in his solution to paint real estate vendors and MLSs as ‘unsafe’ and move to control and protect their own data. They discuss the contrasting ‘better together’ approach being taken by Re/Max and Realogy, addressing why KW would be better served to embrace other players in the fight against agent-enable technology, and Tim explains why the MLS cannot legally ‘sell out’ brokerage data to platforms like Zillow without their permission. Listen in for debate around how much of Gary’s speech may have been theatre meant to ‘rally the troops’ and how his message might impact the upcoming DOJ/FTC talks on real estate data.
Gary Keller’s polarizing vision speech
The pressure on brokerages as profit margins continue to shrink
Rob’s take that Gary identified the problem but misidentified the cause
How much of Gary’s speech was theatre to ‘rally the troops’
Why KW won’t be able to do predictive analytics
Agent hesitation to share data with the brokerage
Why KW’s ‘go it alone’ approach is misguided
Re/Max’s acquisition of booj
Tim’s insight around the legal restrictions on ‘selling out’ data
The ‘open platform’ approach of Realogy, Re/Max
The fantastic culture at Keller Williams
How Gary’s speech might impact the upcoming DOJ/FTC talks
“Did KW Just Say FU to Vendors?” on Vendor Alley
“In Which Keller Williams Completely Confuses Me” on The Notorious ROB
“The Keller Williams Vision Speech: Followup and Further Thoughts” on The Notorious ROB
“Keller Williams Sheds ‘Traditional Broker’ Shell for New Data-Driven Model” in Inman
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After seven months in office as CEO of the National Association of REALTORS, Bob Goldberg has made some bold moves with regard to AMP and RESO-compliance. He’s also scored big on Capitol Hill, lobbying last-minute changes to the tax reform bill. And he’s cut the NAR budget by 20% and made some significant staffing changes. But should we be celebrating Bob as a change agent just yet?
Rob and Greg come to you live from the 2018 MLS Executive Workshop in Scottsdale to argue both sides. Yes, Bob has done more in seven months that we have seen from NAR leadership in quite some time, but there is a low bar for change in the association world. The scope of Bob’s success depends on your basis for comparison, and as you may have guessed, our hosts have very different takes on the issue.
Rob and Greg take on other hot topics in real estate as well, covering the major challenges in making Upstream work, the upcoming Department of Justice and Federal Trade Commission workshops around real estate data, and how a set of national standards would impact vendors. Listen in for Rob’s take on potential government mandates and Greg’s insight on the ‘holy grail’ of real estate tech—marrying data standards with permission to sell.
Bob Goldberg’s bold moves as NAR CEO
The low bar for change in the association world
How NAR dodged a bullet with Trump’s tax reform
How the governance model affects the pace of change
How cutting the NAR budget by 20% may impact jobs
The standardization required for Upstream to work
The challenges around MLS vendors and unfunded mandates
The upcoming DOJ/FTC workshops re: real estate data
Rob’s take on making RESO standards law
Greg’s insight on how national standards would impact vendors
Marrying standards in real estate data with permission to sell
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