Tag Archives: IDX

On NRT’s New HomesForSale.com (Which Most Folks Are Misunderstanding)

Making Sense I know some folks think I’m a Realogy homer. Well, given that’s where I got my start in the industry, maybe I’m a little bit guilty of that whole “cut me and I bleed blue” thing. But I think I’m actually calling things as I see them; I’ve been plenty critical of Realogy when they’ve done something deserving of criticism, and I’m complimentary when they’ve done something right.

The newest Realogy initiative that’s making waves is HomesForSale.com, a “national” portal for the NRT, Realogy’s company-owned brokerage operations. I mentioned it and some screenshots yesterday, when I was really talking about some issues that the MLS probably needs to address. Since then I’ve seen all sorts of discussion about HomesForSale, about NRT, etc. etc. both publicly and privately.

Almost all of the commentary thus far has been negative. The main thrust of such criticism is something like this:

If this is the best that Realogy can do to compete against Zillow and Trulia and Realtor.com, it’s farcical. There’s nothing innovative or new here, and the site isn’t even mobile responsive, and the color scheme sucks too!

Or something along those lines.

Thing is, I think this line of criticism is almost wholly unwarranted, because it is based on a misunderstanding of the strategy behind HomesForSale. I actually think HomesForSale is a nice move, one that could fail of course like any initiative, but it’s solidly grounded in strategy.

Let’s get into it.

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Concerning MLS Enforcement of Cooperation and Compensation, An Observation

In the comments section of my post on Listhub and Zillow, an intelligent discussion and debate broke out. Given the rarity of such thing on the Interwebz, I think we should celebrate that.

Now then, the subject of the discussion was around the “value proposition” of the MLS in the 21st century and how the rise of these huge tech companies, as well as potential threats from things like the as-yet-unknown Project Upstream, could impact it. The discussion turned to what many consider to be the core value proposition of the MLS: “cooperation and compensation.” As it turns out, there’s something to think about here, so let’s get into it.

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Musings On Direct Feeds

Direct-Feed-Skills-Mix

In the aftermath of the Listhub-Zillow divorce, which was my last post, I stumbled on a comment from the famous (or infamous, depending on your perspective) Kipp Cooper and the main man at his vendor, Turan Tekin. [Disclosure: I’m friends with both men, like them both, have shared adult beverages with them, and my bias may bleed through here.]

Kipp is the CEO of ValleyMLS (or North Alabama MLS), which was the first and possibly only MLS so far to cut off Listhub and Realtor.com last year for a while. Turan is the VP of Bridge Interactive, the vendor that Kipp used to put his MLS Direct Feed into place.

The relevant comments from a Facebook thread is as follows:

Kipp-Turan

Now, what struck me as I was reading those comments — especially Turan’s — is the presence of some unexamined assumptions. I think it’d be fun and worthwhile to lay them bare and look at them.

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Initial Thoughts on the Listhub-Zillow Divorce

By now, any reader of mine has heard about Listhub and Zillow waving goodbye to each other. As the great American philosopher Louis CK once observed, “No good marriage ever ends in divorce.” Clearly, this divorce was coming for years and years.

I’m writing this in large part to figure out what I think about it. The overwhelming impression within the real estate industry appears to be that this is bad news for Zillow. Inman’s headline is “Rupert Murdoch Playing Hardball With Zillow” (Subscription Required) after all.

If this is playing hardball, it comes a few days late and more than a few dollars short. We’ll see how it plays out, but I wonder if this isn’t worse news for Listhub/Move than it is for Zillow.

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It’s Time for a Grand Conversation on the MLS

I just got back from NAR New Orleans where I got to see old friends (not enough of y’all, because that event is so f’in huge) and meet some new friends. But I said that I would be watching for some things at the event. Turns out, there wasn’t much to watch. Not a lot of drama at all.

The CoX thing sailed through, but the result is that some workgroup will write up something. So we’ll wait to see what they come up with. The MLS stuff, with its very broad, general language, turned out to be important.

In fact, I think this vote approving the changes to the MLS is far more significant than most people seem to appreciate. The changes go right to the heart of what the MLS is and should be. And those changes may be really positive ones whose time has come.

For those reasons, I am now formally calling for a “Grand Conversation” about the MLS. If the industry is going to make these fundamental changes, then it ought to do so consciously, knowing what it wants to achieve, rather than making incremental changes here and there without realizing where it’s ended up.

Let’s get into it.

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