2018

Time for Vendors to Integrate With Upstream

by Victor Lund on July 19, 2018

Upstream Logo

This may be one of the most redefining moments in the history of real estate technology.

Technology vendors who wish to make their products available to Upstream brokers and franchises must connect to the Upstream today. Upstream does not charge vendors to use the service.  I would like to invite you to learn about Upstream during a webinar that we are hosting on RE Technology on Wednesday, August 1st.  Because of the capacity limitations on our GoToWebinar service, we may only allow the first 1000 to register. P

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What’s the key to being the BEST at what you do?    Natural talent helps, but the different between a good athlete and a GREAT athlete is a CONSISTENT discipline.   Olympic athletes train EVERY day, usually 2 or 3 times MORE than their peers.  They do whatever it takes to get a competitive edge and they do it REGULARLY.  Michael Phelps, 28 time Gold medalist is credited with training harder than any of his peers – 365 days per year for 6 years including holidays, weekends and even after swimming meets.

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WAV Group Project Management Application Development

In the advent of Inman Connect this week, these were three stories I found which piqued my interest this last week.

Will Amazon Uber-ize the Real Estate Industry?

Cisco and Juniper Networks stocks slipped last Friday on news from The Information that Amazon was entering the $14 billion data center equipment business. While searching for more news I stumbled upon investment firm, TwinRock Partners, article about Amazon and real estate.

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According to an announcement made today, real estate agents in the Silicon Valley California based MLSListings now have the ability to change price and edit public and private remarks though the MLS-Touch mobile application. Another key new field that they are planning in the future is listing status update. The data modified in MLS-Touch flows into both CoreLogic’s Matrix product as well as Black Knight’s Paragon product and all the MLSListings data feeds. The release indicates that these editable fields are the first of many that will continue to be added over time.

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It’s been a little over a year since the Council of MLS rolled out the 1000watt created “Making the Market Work” branding campaign. Remember the initial energy? Social media channels were buzzing. New videos were proudly created, touting the value and the benefits of the local MLS to consumers (and professionals). Website home pages were blazoned with fresh new images promoting this powerful new messaging. New full-page ads run publicly. There was a genuine esprit de corps in the industry.

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Homesnap Delivers One Million Free Leads for Agents

by Marilyn Wilson on July 10, 2018

Homesnap, the industry-endorsed national home search platform, today announced that it has sent over one million free leads to listing and buyers agents. These leads are shared by Homesnap to help real estate agents build their brand and connect with potential clients.

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The Most Dangerous Words in the English Language

by Kevin Hawkins on July 9, 2018

Always. Never. Every. Everyone. Everybody. All. Must. These are some of the most dangerous words in our vocabulary. For writers and speakers, as my nephew in Alabama would say, these words are as about as useful as a steering wheel on mule. That’s because these words are typically perceived to be an exaggeration.

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One of the most interesting things about being an expert witness is recognizing how companies can avoid costly litigation. Zillow actually tested the courts in the case of VHT v. Zillow. The facts of the case were reported by Inman News. In summary, VHT filed for copyright on their images. The copyright was granted. VHT then provided a notification of their filing and requested removal. Zillow refused. VHT sued. The court awarded damages. I think the case is on appeal. This issue is not with Zillow or any other portal, it is about protecting the rights of copyright holders and giving privacy to families that buy homes.

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California Consumer Privacy Act of 2018

Consumer data protection continues to be a focus for governments after the latest round of data breaches and Facebook allowing Collaborative Analytics harvesting of its user’s data. In a hastily crafted bill, California legislatures and the governor passed AB 375, or the California Consumer Privacy Act of 2018. There is good reason for hardly anyone noticing this new law; it was fast-tracked through the legislative process within seven (7) days. California legislature rapidly created a consumer privacy bill in response to an initiative of a privacy ballot supported by the Alastair Mactaggart’s non-profit, Californians for Consumer Privacy. Mactaggart’s organization garnered over 637,000 petition signatures by May of this year – surpassing the required 366,000 – and began to initiate a consumer privacy ballot measure for November. Mactaggart did agree to pull the ballot referendum if the bill was passed by legislators and signed by the governor. California legislators passed the bill and Governor Jerry Brown signed it on June 28th. The law will go into effect on January 1, 2020. How is the bill different from GDPR? California Consumer Privacy Act of 2018 is very similar to the GDPR. Both laws allow their citizens to have control of what businesses can and cannot do with their personal data and require notification if their personal data has been compromised in a data breach. Where this bill differs is in who has to comply. It is designed to target larger companies, especially those in Silicon Valley. Businesses who fall into the bill’s compliance must: have annual gross revenues in excess of twenty-five million dollars ($25,000,000). collect, buy, or sell personal information of 50,000 or more consumers, households, or devices. derive 50 percent or more of its annual revenue through the selling consumer’s personal data. Unintended Consequences Trade organizations have voiced their opinions of the law in two areas. The first is how elements of this bill are vague and there was a lack of public discussion. The Internet Association – whose members include Facebook, Amazon, and Google – has stated: “Data regulation policy is complex and impacts every sector of the economy, including the internet industry. That makes the lack of public discussion and process surrounding this far-reaching bill even more concerning.” The CTIA, who represents the wireless telecommunication industry, cited they would prefer to see U.S. Congress passing legislation instead of each individual state. “State-specific laws will stifle American innovation and […]

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Inviting Peers To MLS Boards of Directors

by Victor Lund on July 8, 2018

Board Member

The role of a member of an MLS Board of Director is multifaceted, but divided in part to areas around voting control, and in part around strategic guidance. A trend emerging at the largest MLSs in the nation is to invite outside directors into the board room.

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No Image, No Active Listing – PERIOD!

by Marilyn Wilson on July 2, 2018

In this day and age, it is ridiculous to be on a property site and see active listings with no images included. If we want to give sellers the marketing exposure their property deserves and buyers the shopping experience they require, then it’s time to get us past this problem once and for all!

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When the real estate industry brokerage leaders and Multiple Listing Service (MLS) leaders gathered to reimagine a better national consumer search experience, Chicagoland MLS Midwest Real Estate Data LLC (MRED) jumped right in. They believe in the mission of the Broker Public Portal and have licensed Homesnap since July of 2016. The company has committed not only treasury but also significant volunteer effort.

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Zillow Logo

Real Estate is a fickle industry, cycling back and forth from favoring buyers to favoring sellers. It does not take an economist to develop a strategy for when to advertise for buyers and when not to. Certainly, real estate is in a condition of buyer saturation today. Brokers and agents who are advertising for buyers are mismanaging their advertising spend.

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Ben Caballero has earned the title “real estate legend.” 50 years as a Realtor, 18 years as a builder, dozens of years as an innovator, and the first Guinness World Record holder for real estate sales. Today, for the 6th time in a row, he is atop REAL Trends “The Thousand” list as published in The Wall Street Journal. The REAL Trends list is THE ranking of the top agent in the U.S.; highly coveted, it is well documented and the industry’s established benchmark for agent ranking. Ben first submitted his 2012 production to REAL Trends for its 2013 “The Thousand” list because when he saw the 2012 list, he realized he could have been at the top of it for the past couple of years. Since 2103, Ben has been the #1 ranked agent in both number of sales and total dollar volume on the REAL Trends list. Every year since 2013 his numbers in both categories have exceeded the totals of the top-ranked teams! His numbers are staggering REAL Trends “The Thousand” List – Ben’s Numbers 2013-2018 Year of List # of Sales Dollar Volume Yr of Production 2018 4,799 $1,905,970,827 2017 2017 3,556 $1,444,469,153 2016 2016 2,491 $1,022,202,571 2015 2015 2,383 $924,925,979 2014 2014 2,095 $737,163,298 2013 2013 2,267 $668,422,746 2012 Ben works with homebuilders, so his business model is very different. He has always said that he does not do what most agents do, but there are many things that Ben does that most agents do not. And every year, when “The Thousand” list comes out, a few people mistakingly think Ben is taking credit for a team, or that it is somehow unfair that he is ranked because his business model is different. Ben wrote an excellent column published by Inman News about this, “Why agent rankings are based on production — not business model.” He made this vital point: “The idea that one could create a universal standard to measure agent productivity and have everyone agree that it is measuring apples-to-apples just isn’t possible. That’s why rankings always come down to the number of sales and dollar volume.” Ben also talks about the great diversity of real estate. We have agents selling all kinds of property: residential, industrial, commercial, land, farm, ranch, equestrian, hospitality, lake, and many other kinds of specialty properties – a list that goes on with dozens of niches for professionals. He notes also points […]

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Homes.com Logo

Marilyn Wilson to lead discussion about the power of AI with Homes.com

At WAV Group we see SO much technology that it is sometimes hard to get WOWED.  Homes.com was successful at getting my attention with the Smart Search they have just launched on their website though. They’re leveraging the power of Artificial Intelligence to revolutionize the way consumers search for real estate.  You HAVE to join me on Tuesday, June 26th at 11:00 am Pacific to see what all the fuss is about.  I have to say it kind of blew me away when I saw what they were up to. 

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The Broker Public Portal with Homesnap continues to take the industry by storm.  The strategy to pool the listings and resources of MLSs across the country is working! In just over a year after the BPP/Homesnap partnership was announced, there are now 145 MLSs representing 875,000 agents on one marketing platform featuring over 90 million properties, generating thousands of FREE leads every day for agents.  

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Wow, this is a really fun one!  How would you like to run a real estate association and MLS in one of the prettiest ski towns in America, Park City, Utah?

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Victor Lund, founding partner of the WAV Group, and I recently returned from the National Association of Real Estate Editors Conference in Hot Vegas. 107 degrees hot. One of the hottest topics was the iBuyer, and Victor headed up a panel that took that topic head-on. Let’s say it was one of the livelier sessions of the conference. The one thing I was sure of, Victor made a great impression among reporters based on the feedback he gave me.

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Google Maps – It was too good to last.

by David Gumpper on June 25, 2018

Google Maps Platform - New benefitts and fees.

Over the last 13 years, Google Maps API has been a cost-effective solution for website developers and owners, especially for those in the real estate industry, allowing the display of maps and geo-location of properties by address for a nominal fee (essentially free). Well, the easy road is over as all this is changing on July 16th.

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This is a whimsical article. Don’t take it to seriously, but take a moment to think about this question with me. My favorite activity on the weekends is to watch a few Ted Talks. This article was inspired by a 9 minute Ted Talk about politicians and democracy, titled What if we replaced politicians with randomly selected people?

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