Perhaps the most compelling piece of theatre in recent real estate history, Gary Keller’s interview at the Inman Connect Conference laid out his argument around the future of the industry. Keller’s approach is to own his own data and develop a software platform unique to Keller Williams, and a number of other franchises are buying up technology companies in order to build their own exclusive data platforms. But is this obsession with technology and controlling the data distracting brokerages and franchisors from what really matters?
Rob and Greg are on the line to discuss real estate technology and data ownership. Greg explains W+R’s focus on creating a kickass experience for agents and consumers alike and describes the company’s approach to aggregating data rather than trying to build a proprietary platform.
Rob and Greg cover the growing competition in real estate software and address who is responsible for providing agents with a technology suite. They debate the merits of designing an exclusive platform versus integrating franchise data with a particular software package to create a custom data solution. Listen in for insight around the US vs. THEM mindset around building technology and learn why Rob and Greg are calling for a renewed focus on agents—and giving them the tools to shine!
The overarching theme of the 2018 Inman Connect conference
Gary Keller’s aim to create his own ‘platform for innovation’
How W+R seeks to democratize the iBuyer experience
The role of AI and machine learning in a technology platform
W+R’s approach to making data useful for the end user
Greg’s take on the notion of data ownership
How Zillow has evolved to generate its own data
W+R’s focus on improving an agent’s listing presentation
Cloud Investor Connect’s value prop for investors
- High intent, high volume
Who is responsible for providing agents with a tech platform
The consistent improvement of real estate software
The opportunity to integrate software with franchise data
The MLSs role as a tech platform vs. data provider
The definition of a technology platform as an end-to-end solution
Rob’s insight around focusing on the agent rather than technology
Connect with Rob and Greg:
Today’s consumer is used to pushing a button and having magic happen. (Thank you for the insight Jeremy Waxman.) And more often than not, we are willing to pay an extra fee for things like convenience and certainty. For this reason alone, the iBuyer phenomenon is here to stay, and the real estate industry would do well to consider how traditional agents might participate in the changing market.
Rob and Greg are back to offer a different perspective on the iBuyer movement, discussing how the industry is misunderstanding the phenomenon. Greg explains how organized real estate might address the consumer experience by partnering with a large financial institution to ‘be the bank’ and Rob shares his take on FSBOs and iBuyers as opposite ends of a spectrum—with the traditional REALTOR experience in the middle.
Rob and Greg address fiduciary duty, describing the conflict of interest that occurs when agents have the capacity to make on offer on a prospect’s home. They cover the difference between iBuyers and traditional house flippers, describing the considerable capital behind companies like Offerpad and Opendoor and the significance of Zillow’s recent acquisition of a mortgage lender. Listen in for insight around iBuyers moving into high-dollar markets and learn how agents fit into a future world where iBuyers are the default.
How the industry is misunderstanding the iBuyer phenomenon
How MLS and association execs might consider the agent experience
Greg’s proposal around NAR partnering with a financial institution
Rob’s prediction that the iBuyer movement is here to stay
The conflict of interest agents face in offering to buy a client’s home
Rob’s take on FSBOs and iBuyers as opposite ends of a spectrum
The potential ‘buyification’ of the brokerage business
Why iBuyers are not as vulnerable as traditional house flippers
The significance of Zillow’s acquisition of Mortgage Lenders of America
The tipping point when iBuyers become the default for consumers
The significance of iBuyers moving into high-dollar markets
The value in agents learning to pitch investor offers to sellers
Connect with Rob and Greg: