REALTORS Really Hitting It Off A Few Rows Back On Airplane

PHOENIX—According to sources currently seated in rows 14 through 18 aboard flight 763, two middle-aged REALTORS® are really hitting it off during the trip to Inman in New York. Using terms like “AVM” and “CMA,” the slightly overweight, average-looking men are reportedly engaged in a detailed discussion about overwhelmingly exciting work-related topics and, sources said, seem to be getting along great. “They got to talking as soon as we boarded, and you could tell they just clicked right away,” said 31-year-old Camille Catteano of 16B, adding that one of the men, upon looking up from his REALTOR Magazine™, immediately recognized [...]

By |2018-05-03T21:24:44-07:00December 28th, 2012|Broker Technology Research, Main category|0 Comments

How MLSs and MLS vendors are failing brokers

Let me begin by saying that the remarks that follow do not apply to all MLSs. There are many that do an excellent job at servicing the data needs of brokers. The focus of this article is to talk about some of the common failures seen by WAV Group consultants trying to help brokers fix complex data problems. There is a fundamental understanding of the MLS which has been lost. Although MLS systems provide excellent services through the MLS software, many are failing at providing data services to the brokers and agents to power the many applications that live outside [...]

Black Sand Labs Launches MLS License Compliance Tool

Like all MLSes, Hawaii Information Service takes data licenses seriously. Aside from the natural investigation of reported violations, they wanted to find a way to crawl the Internet to find additional abuses of their data license agreements. After an unproductive effort to find a commercial solution to meet their needs, Hawaii Information Systems partnered with Falcon Technologies to build one. Now, the two cooperating companies formed a new startup called Black Sand Labs to deliver the service to other MLSs fighting the compliance battle. The new product is called APHIS – which may sound like a crawling insect, but was [...]

By |2018-05-03T21:24:49-07:00October 25th, 2012|Main category, MLS Insights|0 Comments

What is a participant

NAR published revised guidelines this year that outline the definition of a Participant in the MLS. It is a long description, so I will put it at the end. One key element is that the mere possession of a broker's license is not sufficient, the broker must actively endeavor to make or accept offers of cooperation and compensation with respect to properties of the type that are listed on the MLS. If you are an NAR affiliated MLS, you probably have already adopted this language and amended your rules and regulations. Some MLSs go further. They require the broker to take training. Some state [...]

Defense of Commissions

American business is founded on the principal that pricing for a product or service is based upon what a willing seller will accept, and what a willing buyer will pay. This happens on an individual basis with each transaction, and price fixing is not allowed. Recently, Casey William Hyland who purchased a home from a Home Services of America brokerage, Semonin REALTORS brought a suit challenging the 6% commission rates on real estate transactions. His claim indicated that the 6% rate was price fixing and is a Sherman Anti Trust Act Violation. When there are multiple transactions of commerce, pricing [...]

Brokers pulling out of IDX

Game changers happen when businesses test radical strategies. When a company breaks from the pack they learn things that none of their competitors learn. They understand a strategy that nobody else as any experience with. They grow their business wisdom and often find new ways to edge out the competition. By studying the impacts of strategies like withdrawing from listing syndication; launching single listing websites or virtual tours; and, withdrawing from IDX, marketers can learn volumes about how these strategies impact their online strategy. Listing Syndication Strategies that work WAV Group has been studying listing syndication strategies for more than [...]

Zillow brings battle to Listhub

Zillow launched a preemptive strike against Listhub yesterday by requesting IDX feeds from the nation's MLS providers. Zillow Executive Bob Bemis sent an email to all MLS CEOs and Executives titled "Why two data feeds when one will do." In the email, Bemis admits that Zillow.com is focused on improving data accuracy and timeliness. The note goes on to explain that Zillow's IDX service, Diverse Solutions, already has the data, why not allow Zillow to use it for Zillow.com so Zillow can circumvent their reliance on Listhub data feeds. A battle ensued when Listhub got word that Zillow was calling them out on [...]

A Case of Concern Embedded Search and Display

IDX for Facebook There is some degree of discussion about the notion that the IDX rules may be expanded to support Embedded Search and Display on websites or displays not under the apparent control of the broker. I believe that this is too risky, too hard to control, and beyond the bounds of IDX as currently discussed. New thinking is needed and proposed herein. The foundation of new thinking is that MLSs may approve certain websites for embeddable display as a matter of local rule. Embedded Search and Display Defined Many real estate technology thinkers have discussed the [...]

By |2018-05-03T21:25:01-07:00May 14th, 2012|Main category, MLS Insights|2 Comments

Why Innovation Fails To Change Real Estate

Every year, real estate sees the launch of beautiful products, offering awesome features, advantages, and benefits. Excellent marketing programs back them and the press creates a jubilee – Innovator of the Year! Then the product launches, and the industry shrugs its shoulder. It is the conundrum of new product development and innovation for real estate. Most of these companies are doing everything right. They are doing research, spotting trends, holding focus groups, testing usability, and modeling lovely financials. If they can only get 1% adoption of this, or 3% of that, revenues will be awesome. There are 1 Million real [...]

Syndication as in insolent teen

I received a call yesterday from a sage MLS executive. He saw the article in RE Technology about Sandicor adding a new syndication field into their MLS. We had discussed this a few years ago after some broker focus groups. At the time, the brokers did not seem to care too much about syndication, so the idea did not go anywhere. That changed. Adding the field is on the agenda at their next board meeting. He is probably not alone. Aside from that, he shared with me his vision for how syndication is going to play out in the long [...]

MOVE launches the Real Estate Network for Franchises

Franchise Networks have taken the first step to declare their independence from the MLS rules and regulations, and third party listing websites. Today MOVE, operators of REALTOR.com and the Listhub listing syndication network, announced that they have created a data sharing solution called the Real Estate Network. Participant in the network include the two largest REALOGY networks of Century 21 and Coldwell Banker along with Realty Executives and RE/MAX. Under the terms of the agreement, the four participating Franchise Organizations will reciprocate in a listing data share of property listings for public display each other’s franchise websites. New Century 21 [...]

CMLS reviews pending IDX policy changes

I am a big fan of CMLS, the acronym for the Council of MLS. The Council does more than any other organization to support best practices among MLS service providers. Today, CMLS hosted a member webinar that provided a 360-degree overview of the pending IDX rule change, a consideration that will be discussed and submitted to the NAR Board of Directors for approval at the NAR Convention in Anaheim. The suggestions to the NAR Board of directors from the call were simple. Cathy Holefelder of Heartland MLS provided a great summary of the call and suggested this synthesized overview. –       [...]