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Industry Relations

This is Industry Relations, a podcast that is at the intersection of real estate and technology from an insider’s perspective. Hosted weekly by Rob Hahn (The Notorious ROB) and Greg Robertson.
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Now displaying: Category: Real Estate
May 11, 2022

On this week's episode of Industry Relations, Greg is back home from the T3 Conference, and tells Rob what he heard. The event was fantastic with many thought-provoking interviews. The duo also discuss the importance of companies having a “prepper” mindset for taking big risks in the world of prop-tech. Join us! 

Follow Greg on Twitter @gregrobertson

Follow Rob on Twitter @robhahn

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Listen to the Industry Relations Podcast, available on all podcast platforms:

Listen to the podcast on Apple

Watch the Podcast on YouTube

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Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

Cloud MLX

Notorious VIP

Apr 18, 2022

This week on Industry Relations Rob and Greg pre-game for the upcoming Inman Connect conference in New York City. Greg will be attending and we make predictions on who is going to be there, what everyone will be talking about, and what kind of vendors he will see. The duo will be having a post Inman Connect show once Greg returns home so watch this episode and see how much we suck at predictions! 

Watch Greg’s MLS Rap: https://www.inman.com/2016/02/03/watch-greg-robertsons-mls-rap-2/

Follow us on YouTube so we can #GetAName: 

Listen to the Industry Relations Podcast, available on all podcast platforms:

Listen to the podcast on Apple

Watch the Podcast on YouTube

Listen to the podcast on Stitcher

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

Cloud MLX

Notorious VIP

Mar 23, 2022

What is an 'enhanced listing?' Do 'enhanced listings' work? Do sellers and buyers want or need them? As Costar comes onto the real estate scene, what will that look like with competitors like Zillow, Realtor, and Apartments.com? What will that look like for sellers and buyers? Greg and Rob discuss what consumers really want when they're searching online in this episode of Industry Relations!

Listen to the podcast on Apple

Watch the podcast on YouTube

Listen to the podcast on Stitcher

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

Cloud MLX

Notorious VIP

Mar 16, 2022

Today Rob and Greg talk about Marge vs Brenda (don’t worry they’ll explain) How is the average real estate doing vs the top 10 percent? After things like the real estate stocks and the acceleration trends due to the pandemic, who is winning this epic battle? As they say the ‘internet is undefeated’ but is ‘Marge’ undefeated as well? Greg thinks she is, but what does the notorious Rob think? It’s a great discussion on this week’s episode of Industry Relations!

Listen to the podcast on Apple

Watch the podcast on YouTube

Listen to the podcast on Stitcher

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

Cloud MLX

Notorious VIP

Mar 9, 2022

On today’s episode Rob and Greg talk about creating the “Bloomberg of Real Estate,” with special guest David Blum. David Blum is the co-founder of ‘Plunk’ where they are working to bring the next generation, real-time analytics platform to residential real estate. What does the future of this prop-tech company hold for the real estate industry? Rob Han and Greg Robertson are your hosts for the re-launch premiere of the Industry Relations podcast! 


Learn more about David Blum and the exciting work they’re doing for the future of residential real estate at www.getplunk.com.

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

Cloud MLX

Notorious VIP

Feb 25, 2022

On episode 66 of Industry Relations, Rob and Greg discussed the potential repercussions of ending mandatory compensation. And Rob asserted that without cooperation and compensation, the value of the MLS lies solely in its data and technology tools.

How did those comments sit with MLS leaders?

Justin Landon is the CEO of the Lexington-Bluegrass Association of REALTORS, a 4,000-member MLS based in Lexington, Kentucky. Ryan Castle serves as CEO of the Cape Cod & Islands Association of REALTORS, a 3,000-member MLS serving Cape Cod, Martha's Vineyard, and Nantucket. On this episode of Industry Relations, Justin and Ryan join Rob and Greg to share their argument against the assertion that the value of the MLS is tied solely to buyer’s compensation.

Justin and Ryan describe the work they do to ensure that listing agents follow data compliance guidelines, explaining how the MLS has evolved to become a catalyst for the adoption of technology and a distribution mechanism among agents and consumers. Listen in for insight on why compensation is usually offered even when it’s not required and learn about the MLS’s role in building technology that facilitates cooperation.

What’s Discussed:  

Justin & Ryan’s argument against the assertion that the value of the MLS is tied solely to buyer’s compensation

The work MLSs do to ensure that listing agents follow data compliance guidelines

Why MLS teams need to know the areas they’re serving

How the MLS has evolved to become a distribution mechanism among agents and consumers

Why Rob suggests that MLSs need to invest in developing their own technology if compensation ends

The MLS as a technology provider vs. catalyst for the adoption of technology

Why compensation is usually offered even when it’s not required

The relationship between compensation and the steering problem in real estate

The potential to add reverse auto prospecting and rental data to the MLS

How NAR’s focus on the distribution of data provides an opportunity for MLSs

The MLS’s role in building technology that facilitates cooperation

What we need to do to prevent the government from making the MLS a public utility

Connect with Justin:

Lexington-Bluegrass Association of REALTORS

Connect with Ryan:

Cape Cod & Islands Association of REALTORS

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Resources:

What if Mandatory Compensation Goes Away? on Industry Relations EP066

MLS Grid

Buyside

RealScout

FloPlan

Our Sponsors: 

Cloud MLX

Notorious VIP

Feb 21, 2022

Does everything have to be so fast?  Shouldn't some things take time?  

Especially if it's the largest purchase/sale of your life?

On this episode of Industry Relations, Rob and Greg sit down with Brian Boero of 1000watt, to discuss his recent blog post, "Pushing Buttons".  Join this high-level discussion and talk about the future of online real estate.
 
Does everything have to be so fast?  Shouldn't some things take time?  

Especially if it's the largest purchase/sale of your life?

On this episode of Industry Relations, Rob and Greg sit down with Brian Boero of 1000watt, to discuss his recent blog post, "Pushing Buttons".  Join this high-level discussion about the future of "push button" real estate.
 
What‘s Discussed: 

The consumer experience with pushing buttons
Redfin's 400 step process
The genius of Zillow's "Super App" marketing messaging
Greg talks "Zuber"
Keeping up with the consumer
What does a "better" real estate experience look like?


Connect with Rob & Greg:
 
Rob’s Website 
Greg’s Website 

Resources: 

Brian's "Pushing Buttons" blog post
1000watt's website
Amazon's Day One Philosophy

Our Sponsors: 

Cloud MLX
Notorious VIP

Feb 11, 2022
 

Who owns the data associated with a house?

 As it stands right now, the listing broker is in control. But what if a buyer doesn’t want a floor plan or 3-D walkthrough of their new home available online?

There is growing public concern around data privacy in big tech, yet few are talking about how this translates to the real estate industry.

On this episode of Industry Relations, Rob and Greg sit down to discuss the complexities around who owns real estate data, considering whether homeowners should have ownership rights to the data for their property.

They explain the current privacy laws around street photography and explore the expectation of privacy in public records—including MLS databases.

Listen in to understand how privacy policies might impact different players in the real estate space and learn how to think about who should own property data once the SOLD sign goes up.

What‘s Discussed:  

The ruling in the VHT v. Zillow case re: copyright in real estate photography

Who currently owns the data about a house and why it’s such a complex issue

Whether homeowners have ownership rights to the data for their property

The safety concerns associated with making property data available online (for buyers and sellers)

The current laws around photography and privacy

The expectation of privacy around public records and Rob’s take on why the MLS is not a private platform

How Apple’s App Tracking Transparency policy impacts real estate vendors

How privacy policies might affect Compass’ business plan

How we rely on open data to value homes

How the privacy issues surrounding big tech might translate to real estate

 

Connect with Rob & Greg:

Rob’s Website

Greg’s Website

 

Resources:

Orange County Proptech Mixer

Texas REALTORS Winter Meeting

CoreLogic MLS Executive Workshop

NARPM Broker/Owner Conference and Expo

Rob Hahn on The Tom Ferry Podcast Experience EP160

Nick Conteduca on Industry Relations EP067

VHT v. Zillow

Rob’s Piece on Real Estate Photography & Copyright

Apple’s App Tracking Transparency Policy

Fannie Mae’s Uniform Appraisal Dataset

Drone Laws in Nevada

NFT Your Property with Propy

 

Our Sponsors:

Cloud MLX

Notorious VIP

Jan 26, 2022

Realogy caused a kerfuffle earlier this month when the real estate industry learned, in unsealed court filings, that brokerage president Ryan Gorman is opposed to NAR’s mandatory compensation rules.

What’s behind Gorman’s stance on compensation? What does it mean for the MLS if the rules change? How would it impact brokers and agents?

On this episode of Industry Relations, Rob and Greg discuss how the value of the MLS would shift in the absence of mandatory compensation, looking at Northwest MLS as a case study around what happens when compensation is optional.

Rob predicts government regulations to eliminate the possibility of steering and Greg reflects on how the conversation around compensation might change in a buyer’s market.

Listen in to understand why optional compensation favors big brands and find out what MLS boards, brokers and agents should be doing to plan for a world where compensation is optional.

What’s Discussed: 

What’s behind Realogy’s opposition to mandatory compensation rules

How the value of the MLS would shift in the absence of mandatory compensation

How compensation is optional at Northwest MLS but most offer it anyway

What buyers’ agents would lose by getting booted from the MLS

The prevalence of steering and why Rob predicts regulations to eliminate the possibility

Greg’s take on how the conversation around compensation might change in a buyer’s market

Why optional compensation privileges bigger brands (and hurts small, independent brokerages)

How compensation works in the world of commercial real estate

Why MLS boards should prioritize investments in data and technology

 

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

 Resources:

 ‘Realogy Calls on NAR to Eliminate Commission-Sharing Requirement’ in Inman

‘Agents Slam Realogy’s Call to End Mandatory Nature of NAR Participation Rule’ in Inman

Rob’s Post on Realogy’s Stance Against Buyer Agent Compensation

Rob’s Red Dot Report on CoStar’s Entry to Residential Real Estate

‘Conflicts of Interest and Steering in Residential Brokerage’ in the American Economic Journal

 

Our Sponsors: 

 

Cloud MLX

Notorious VIP
Jan 5, 2022

What were the most important events in real estate in 2021? And how might those events change the industry moving into 2022?

On this episode of Industry Relations, Rob and Greg sit down to reflect on what they see as the most significant headlines of 2021, discussing the real reason behind Zillow’s abrupt exit from the iBuyer market and what Zillow 3.0 might look like.

Rob and Greg explore the significance of NAR’s apology for its racist past and policy changes around hate speech, describing how the ethics complaint against Pastor Brandon Huber reflects a growing division in the industry.

Listen in for insight on the impact of MLSs becoming technology companies and find out why it’s time for you to start learning about the blockchain and what this trend toward decentralization means for the future of real estate.

What‘s Discussed: 

Rob & Greg’s take on the most important events in real estate in 2021

The DOJ’s withdrawal from its settlement with NAR and Biden’s subsequent Executive Order on competition

How Zillow’s acquisition of ShowingTime changed the way vendors, MLSs and associations do business

The real reason behind Zillow’s exit from the iBuyer market and what Zillow 3.0 might look like

Rob’s prediction that Rich Barton will retire again in 2022 and why Greg thinks he’s wrong

The significance of NAR’s policy changes re: the transparency of listing data

Why NAR’s apology for its racist past matters and how it might serve as the first step toward reparations

The ethics complaint against Pastor Brandon Huber and how it reflects the growing division in organized real estate

How Greg thinks about MLSs becoming technology companies and what it means for vendors

Rob’s insight on how blockchain technology might impact real estate

Connect with Rob & Greg:

Rob’s Website

Greg’s Website

Resources:

Biden’s Executive Order on Promoting Competition in the American Economy

The DOJ’s Antitrust Case Against NAR

The DOJ’s Withdrawal from Its Settlement with NAR

Business Insider Article on Zillow’s Project Ketchup

Rob’s Post on Zillow’s Project Ketchup

Ben Thompson on Zillow’s Decision to Exit the iBuyer Market

Rich Barton on the Stratechery Podcast

NAR Policy Changes on Transparency of Listing Data

Bloomberg Article on the NAR Formal Apology for Past Racism

Changes to the NAR Speech Code

Pastor Brandon Huber’s Lawsuit Against the Missoula Organization of REALTORS

The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammous

The Bitcoin Standard Podcast

Saifedean Ammous on YouTube

Chris Dixon and Naval Ravikant on The Tim Ferriss Show

 

Our Sponsors:

 

Cloud Agent Suite

Notorious VIP

Apr 15, 2020

Imagine a best-case scenario in which the Coronavirus is under control and the country is up and running by May 1. How have our social norms changed? What do these cultural shifts mean for organized real estate? And how is the industry different in a post-COVID-19 world?

On this episode of Industry Relations, Rob and Greg get relentlessly positive, discussing the post-Coronavirus landscape of the real estate industry should the best happen. They weigh in on the cultural shifts that are likely to occur in the aftermath of COVID-19, predicting which rituals will persist once the current restrictions have been lifted.

Greg and Rob go on to debate what open houses will look like in a post-pandemic world, why showings may (or may not) be restricted to serious buyers, and when we might be back to pre-COVID transaction levels. Listen in for our hosts’ best-case expectations regarding buyer demand as well as NAR membership and brokerage numbers come September—pending a V-shaped recovery. 

What’s Discussed: 

Rob & Greg’s parameters for this potential best-case scenario

  • Vaccine or cure for virus (no resurgence)
  • All restrictions lifted, back to work on 5/1

How the culture is likely to shift in the aftermath of COVID-19

What open houses will look like in a post-Coronavirus world

Why Rob believes showings will be restricted to serious buyers

When we might be back to pre-pandemic transaction levels

Why Greg expects a best-case scenario uptick in buyer demand

Rob’s prediction of a 20% drop in first-time homebuyers

Why Rob & Greg anticipate a 20% decline in NAR membership

How Rob & Greg differ around which agents will leave

The potential for 25% of small brokerages to join a larger team

 

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Our Sponsors:

Cloud Agent Suite

Notorious VIP

Dec 20, 2019

On January 1, 2010, organized real estate was still reeling from the recession. Dale Stinton was steering the ship at NAR. Zillow was seen as the enemy of the MLS. Real estate software was meh. Agent teams were rare. Nearly all brokerages took a split. Selling your house online seemed outrageous. And we still signed documents in pen.

On this episode of Industry Relations, Rob and Greg are looking back at the last 10 years in real estate. They discuss the passing NAR’s MLS Statement 8.0 Clear Cooperation Policy, debating the significance of the office exclusives loophole and how it might lead to government involvement. Our hosts also express their disappointment around the Newsday investigation in Long Island, Testing the Divide, challenging brokerage leadership to make a strong statement against the egregious racism it uncovered. 

Greg and Rob go on to share their top 10 defining moments and trends with the biggest impact on the industry over the last decade, describing how the rise of agent teams, 100% commission brokerages, the iBuyer model and consolidation have transformed organized real estate. Listen in for insight into how NAR’s decision to fund RPR and Upstream changed the way the MLS saw Zillow and explore how the space has evolved from 2010 through the end of 2019.

What’s Discussed: 

NAR’s passing of the MLS Statement 8.0 Clear Cooperation Policy

Rob & Greg’s take on the Newsday investigation in Long Island

How the loophole in 8.0 could lead to government involvement

The 10 defining trends/events in the last decade of real estate

  1. The end of poorly designed software
  2. The rise and domination of agent teams
  3. The transition in leadership at NAR
  4. Opendoor pioneering the iBuyer model
  5. Zillow’s acquisition of Trulia
  6. 100% commission brokerages
  7. Consolidation and the influx of capital
  8. The practice of buying agents/agent teams
  9. The mainstreaming of digital signatures
  10. NAR’s decision to fund RPR + Upstream

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Resources:

MLS Clear Cooperation Policy

Compass Pre-Litigation Letter to Bright MLS

Bright’s Response to Compass

Newsday Documentary: Testing the Divide

Rob’s Blog on the Newsday Piece

1000watt Article on Real Estate Software

The Millionaire Real Estate Agent by Gary Keller with Dave Jenks and Jay Papasan

Ben Thompson Interview with Rich Barton

Our Sponsors:

Cloud MLX

The Red Dot

Jun 7, 2018

Critics of Zillow bash the accuracy of the Zestimate, but the fact is that a home’s worth hinges on what the market is willing to pay. And with the advent of Instant Offers, Zillow is backing up the Zestimate with a check. Consider the fact that Zillow has a platform to help themselves sell homes quickly and it is easy to see how Instant Offers is a game-changer with the potential to create a ‘market-maker system’ of real estate.

Rob and Greg are back to discuss the recent GeekWirepieceon Zillow’s first home purchase in Chandler, AZ. They comment on the irony of the agent’s intention to lean on Zillow for branding as well as the company’s original business model as an auction site. Rob explains the concept of an insta-flip and how it benefits Premier Agents, and Greg offers his take on the one thing that is still missing from the Instant Offers model.

Rob and Greg speak to Zillow’s data around the number of shoppers in a particular zip code and the target market for the Instant Offers model. They address the potential profit Zillow might generate from Instant Offers, the listing lead flow the program will generate, and the possibility of discounted as-is purchases on the platform. Listen in to understand how Instant Offers is likely to foster competition in the space and learn how Zillow continues to change the game of real estate.

What’s Discussed: 

Zillow’s first home purchase in Chandler, AZ

The agent’s intention to lean on Zillow for branding

Greg’s questions around double-ending and fees

How Zillow is creating a ‘market-maker system’ of real estate

  • Provides mechanism to help sell fast
  • Every home could have bid, ask price

Zillow’s original business model as an auction site

The concept of an insta-flip and how it benefits Premier Agents

Greg’s take on what’s still missing from the Instant Offers model

How Zillow’s Instant Offers further validates Opendoor

The target seller for Zillow’s Instant Offers model

How Instant Offers differs from We Buy Ugly Houses

The listing lead flow Zillow will generate through the program

What traditional brokers should do in light of Instant Offers

The potential for a discounted as-is purchase through Zillow

Rob’s insight on the possibility of Zillow offering seller financing

How Instant Offers is likely to foster competition in the space

 

Resources:

 

‘An Inside Look at Zillow’s First Home Purchase’ on GeekWire

‘Opendoor is a Bigger Deal Than Zillow’ in Inman

Our Sponsors:

The Red Dot

Cloud Agent Suite

 

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

 

Jun 2, 2018

As Peter Parker will tell you, great power comes with great responsibility. And there is little doubt that NAR has a great deal of power. With Bob Goldberg at the helm, many have anticipated a ‘kinder, gentler NAR,’ an organization that rules with a warm embrace rather than an iron fist—serving its membership with open discussion and greater transparency. Does the recent drama over the dues increase demonstrate a more-of-the-same-old approach from NAR leadership? Or is the perceived crisis around the budget an overreaction? Is there evidence that the culture at NAR is really changing for the better?

 

Rob and Greg are back in the ring on the heels of the REALTORS midyear legislative meeting, going toe to toe over the recent controversy around NAR spending. They start with an overview of what went down, beginning with the Houston Association of REALTORS opposition piece in Inmanand the subsequent op-ed credited to Jim Harrison of MLSListings. Rob and Greg walk us through the retractions, rebuttals and apologies that followed as well as the board of director’s vote in DC.

 

Rob offers his take on NAR budget priorities, sharing the questions he has around spending on things like zipLogix, RPR and advertising to protect the REALTOR brand. He goes on to discuss the way NAR handled the spending controversy, framing it as a missed opportunity to embrace opposition as a catalyst for discussion rather than ruling with an iron fist—which may discourage membership from speaking up in the future. Greg offers his defense of NAR, pointing out that the SMART Budget Initiativeis clearly outlined NAR’s website and citing member engagement as an incredibly complex issue. Listen in for Rob’s insight around NAR’s responsibility to its members and decide whether NAR is, indeed, using its power for good.

 

What’s Discussed: 

 

The Houston Association of REALTORS’ opposition to the dues increase

How the controversial op-ed credited to Jim Harrison went too far

The questions around NAR’s spending on zipLogix, RPR and advertising

The line items Rob would like to see NAR prioritize in its budget

  • Advocacy
  • Professionalism

Greg’s perspective that there is no evidence of an NAR crisis

How NAR might have handled the spending controversy differently

  • Could have offered ‘warm embrace’
  • Opposition as catalyst for discussion

NAR’s postponement of the 2.5% annual dues increase

Rob’s take that NAR’s iron fist will discourage others from speaking up

Rob’s concern about the lack of explanation regarding NAR spending

Greg’s defense of NAR as being more transparent than ever before

  • SMART Initiativeoutlines spending objectives
  • Elizabeth presented proposed budget at T3
  • Communication with membership is difficult

Rob’s belief that NAR’s power gives them a higher level of responsibility

 

Resources:

 

Houston Association of REALTORS Member Survey

HAR’s Dues Increase Opposition Piece in Inman

Jim Harrison’s Op-Ed in Inman

HAR’s Apology

Harrison’s Apology

NAR’s SMART Budget Initiative

Rob’s ‘Crisis and Opportunity’ Blog Post

 

Our Sponsors:

Cloud Agent Suite

The Red Dot

 

Connect with Rob and Greg:

 

Rob’s Website

Greg’s Website

Email gregrobertson@gmail.com

 

Sep 25, 2017

Stakeholders from every facet of the real estate industry are calling for change. Problem is, that’s about the only thing they can agree on. So what happens when you put a broker, a vendor, a consultant, and NAR leadership in the same room to talk about all things MLS? A sometimes uncomfortable, yet revealing discussion around consolidation, data standardization, MLS fees, and the policymaking process.

Stakeholders from every facet of the real estate industry are calling for change. Problem is, that’s about the only thing they can agree on. So what happens when you put a broker, a vendor, a consultant, and NAR leadership in the same room to talk about all things MLS? A sometimes uncomfortable, yet revealing discussion around consolidation, data standardization, MLS fees, and the policymaking process.


Live from CMLS2017 in Austin, Rob and Greg are joined by James Dwiggins and Sam DeBord. James is the CEO of NextHome, a progressive real estate franchise with consumer-focused branding, technology and marketing. Prior to founding NextHome, James served as Chief Strategy Officer and VP of Realty World Northern California & Nevada. Based in the San Francisco Bay Area, James’ impressive resume also includes VREO, a groundbreaking company he co-founded in 2000 to develop web applications for agents and brokers.
Sam is both the managing broker for Seattle Homes Group and VP of Strategic Growth for Coldwell Banker Danforth. In addition, he is a member of the MLS Technology and Emerging Issues Advisory Board, and he will serve as the Vice-Chairman of MLS Policy for NAR next year. Sam writes for a number of real estate news outlets, and he was named to SP200’s Top 20 Social Influencers and Inman’s Top 101 in Real Estate.


Listen in as Greg, Rob, James and Sam search for a little common ground when it comes to the future of the MLS. James shares his concern regarding a lack of non-REALTOR members in NAR decision-making bodies, and Sam offers his take on the future of the industry. They cover the political barriers that prevent true collaboration in the industry, how the not-for-profit mandate hinders MLS progress, and the value of vendor-inclusiveness. 

 

What’s Discussed: 


James’ message at the CMLS event in Austin
The ongoing conversation among NAR, brokers and MLSs
The continued consolidation of MLSs
NAR’s focus on broker co-op
The vast differences in how MLSs are run
The challenges around a lack of data standardizationFactors that prevent a common data share
The brokers’ contribution to the technical barriers 
How a common MLS feed might affect membership
How members of the MLS Technology and Emerging Issues Advisory Board are selected

-Vetted by leadership
-‘Standard of experience’James’ concern regarding a lack of non-

REALTOR members NAR’s effort to bring in advisors/speakers from other industries to inform the advisory board

Why having your heart in the right place doesn’t mean you are a qualified decision-maker
The challenge of overcoming politics to engage in true industry collaborationNAR’s role in fostering cooperation
How CMLS is setting the standard of vendor-inclusiveness
Rob’s argument that the nonprofit mandate is the biggest issue hindering MLS progress
The pros and cons of raising MLS fees
The excessive fees vendors pay for access to IDX feeds
The benefits of MLS consolidation:


-Less overhead, more profitable for MLS
-Broker costs decrease
-Vendors can reinvest money saved


The painful loss of jobs that would result from MLS efficiency
James’ prediction that it will take outside forces to facilitate change
The value generated by a very small number of agents -Zillow market cap at 7.6B -80,000 agents


Sam’s take on the future of the real estate industry

-MLS will be part of equation (dependent on data)
-Fewer MLSs
-Realtor will remain at center of transaction

Greg’s A Few Good Men analogy
Rob’s theory about the future MLS breakdown
The top barriers to change: 

-Politics
-Lack of data standards

Sam and James’ advice to MLS execs moving forward


-Focus on broker priorities
-Be flexible, innovative in delivering
-Discuss pain points with vendors
-Work with other MLSs on same process


Resources:


Seattle Homes Group

NextHome

MLS 2020 Agenda

CMLS 2017

Connect with Rob and Greg:

 

Rob’s Website 

Greg’s Website 

Apr 21, 2017

If you ask Wiktionary, to swim upstream means ‘to opt for a difficult course of action when a simpler alternative is available.’ And if you ask Rob and Greg, real estate’s Upstream venture is a prime example of doing things the hard way.

Today Rob and Greg discuss the MLS response to the brokerage community’s push for data sharing and the probability of Upstream’s success. They also cover other hot topics in real estate technology news, including Zillow’s new Millennial consumer brand announcement, the extraordinary capital raised by Placester, and Realogy’s recent changes in management.

Listen in as Greg explains how to think about the ‘real estate ecosystem,’ and Rob outlines the inevitable development of a new brokerage model.

 

What’s Discussed: 

Zillow’s recent announcement regarding its launch of new consumer brand

Why Zillow is likely adding RealEstate.com as a search portal

The real estate industry’s ‘Millennial worship’

  • Half of new home buyers under 36

The stereotypes associated with Millennials vs. the reality

What a site designed for Millennials might look like

The staggering capital being poured into the industry

  • Placester raised $50M in March, bringing its total to $100M

Placester’s recognition of the aspirational nature of real estate

  • Willingness to take any agent

Why Zillow focuses on ‘super agents’ and teams

Placester’s role in the ‘real estate ecosystem’

Realogy’s recent changes in management

How technology undermines the idea of a ‘real estate ecosystem’

The necessity for transformation of the current brokerage model

The mammoth undertaking that is Upstream

The feasibility of Upstream clearing all the hurdles it faces

How MLSs have responded to the brokerage community’s call for consolidation

Rob’s suggestion to add representatives from the broker community to the CMLS Board

Resources:

 

“Zillow Group to Launch New Consumer Brand” on RISMedia

 

“Placester Continues Growth with $50 Million Capital Raise” in HousingWire Magazine

 

Connect with Rob and Greg:

 

Rob’s Website

Greg’s Website

Feb 18, 2017

Rob and Greg are back with another outspoken discussion about current real estate industry topics. This time on the podcast they attempt to predict how the new POTUS might affect the state of real estate – and how difficult it is to predict what Trump and his administration might do. They cover the evolution of HUD under Ben Carson and his promise to cap or eliminate the mortgage-interest deduction.

 

Rob and Greg also address the powerful lobby that is the NAR and who might fill the shoes of CEO. Listen in to understand how the ‘Trumpening’ presents a particular challenge for the new leadership of NAR as organized real estate approaches a crossroads.

 

 

What’s Discussed: 

 

The choice of Ben Carson as Secretary of Housing and Urban Development

How a real estate developer in the Oval Office might be good for housing

The affordability crisis in the housing market

  • The Trump administration may work to reduce regulations and boost development

The unpredictability of Trump and his cabinet

The lobbying muscle of the NAR

The best argument Greg has heard for getting rid of Fannie Mae, Freddie Mac and the mortgage-interest deduction

  • A fractional equity ownership model would spread out the risk

Who might succeed Dale Stinton as CEO of NAR

  • The perception of Bob Goldberg as Dale Stinton 2.0
  • The argument for #NARGirlBoss

The big challenges of organized real estate that the new NAR CEO must address

The role of personal relationships between the lobby and career bureaucrats

  • Many of those career government officials will leave to avoid being a part of the Trump ecosystem

 

 

Resources:

Andreesen Horowitz’s Fintech Podcast 

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Feb 9, 2017

Welcome to the inaugural episode of Industry Relations, recorded live from Inman Connect NYC. Join Robert Hahn, Managing Partner of real estate consulting firm 7DS Associates, and Greg Robertson, Co-Founder of real estate software company W+R Studios, as they engage in frank discussions about current real estate industry topics.

This time on the podcast, Rob and Greg debate the state of the MLS, the problematic relationship between the MLS and associations, and potential systemic changes. Listen in as these industry insiders argue the critical obstacles facing the MLS – unfiltered.

What’s Discussed: 

Rob and Greg’s take on the problems with the current MLS system

The dichotomy between low fees and great products and services

The need to identify and address the MLS’s that don’t follow the rules

  • Big brokers don’t have enough power in local communities to affect change

Why MLS execs deserve much credit for the tough work they do in furthering cooperation and compensation

How associations might evolve if divorced from governance of the MLS

The role of politics in local MLS boards

  • Making the MLS for-profit would eliminate those conflicts of interest

Upstream’s potential to create chaos in the real estate data marketplace

How emerging leaders in MLS might feel about changing to a for-profit model

The broker narrative regarding the role of the MLS

 

Resources: 

Upstream

 

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

 

 

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