corelogic

CoreLogic Logo

When you dominate an industry by market share as CoreLogic does in real estate, there are certain adjectives that become elusive. One of them is “innovative.” That’s because Conventional Wisdom in real estate says that when it comes to tech firms, it’s only the ones with the shiniest and newest objects – run by the new kids on the block – that are deemed innovative. Certainly, it’s not a word typically used to describe a company founded in the early 1990s. Yet about 10 days ago, something remarkable happened in the City of San Francisco, one of the bastions of innovation, during the Inman News Real Estate Connect Conference at a red carpet gala. CoreLogic, born a quarter of a century ago, won the coveted 2016 Inman Innovator Award for “Most Innovative Real Estate Company.” According to Inman News, its Innovator Awards “are given each year to recognize and celebrate industry innovation and accomplishments.” Inman reports that its innovation honors can be given to a “specific app, technology or business process that qualifies someone for consideration.” In other cases, the company as a whole consistently tries new things, adopts new technology or creates a new culture or approach to real estate. Getting ahead of the curve Conventional wisdom proved to be wrong because CoreLogic, once thought of as part of the industry’s old guard, has pivoted in a major way, leapfrogging its competition. Not only did it earn honors as the top innovator among a list of blue-chip candidates that included Move, Realogy, Keller Williams, Zillow and Leading RE, but it also won the top spot over some of the hottest startups, including Xome, Open Door, Smart Zip, Real and a dozen more firms who have invented some of the shiniest new objects available today. Moreover, Trestle, from CoreLogic, was named a 2016 Inman Innovator Awards runner up in the “Most Innovative Technology” category. What’s incredible about this feat is the fact that the product isn’t being released until the fall. Trestle is the much talked about national marketplace that connects data sources with data recipients. It is designed to address key pain points that real estate brokers, technology providers, and multiple listing organizations struggle with today. Clearly, the impact of this technology on the real estate industry is expected to be massive. Year of Innovation “This truly is the ‘Year of Innovation’ for CoreLogic,” said Chris Bennett, general manager […]

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Impact of CoreLogic and Graphiq Deal

by Victor Lund on August 16, 2016

Graphiq Logo

Earlier this month, Santa Barbara based Graphiq and CoreLogic announced an agreement between the two companies. As it turns out, Graphiq has been providing services to other areas of CoreLogic before expanding their relationship to the Real Estate Solutions group managed by Chris Bennett. Graphiq is a company that takes big data and turns it into something they call Visualizations (think graphs and charts). There are two features which make Graphiq unique. First is that Graphiq can handle CoreLogic’s volume of property data and second, they provide visualizations that are embeddable, update dynamically, and can be accessed using an API. For example, if you build a chart that displays something like price per square foot over a 10-year period of time, the chart will never go out of date. This allows a chart to be easily embedded into a web page or report. This deal allows Graphiq to expand their existing real estate product offering, which already includes location data such as schools, demographics, local businesses, and crime. The target audiences for this product are Real Estate portals, MLSs and brokers looking to combine  CoreLogic market data with MLS data to communicate facets of market analytics to agents and consumers. The pricing is based on consumption of the API, making the pricing very affordable for small firms and scalable for enterprise. Sales are handled through both the Graphiq and CoreLogic sales team. Competitors in this segment include Teradatum and ShowingTime. RE Technology readers may recall that ShowingTime recently purchased 10k from the Minneapolis Association of REALTORS® and Real Estate Business Intelligence (RBI) from Mid-Atlantic MLS leader, Metropolitan Regional Multiple Listing Service (MRIS). These acquisitions have helped ShowingTime extend their product reach to more than 900,000 real estate professionals. According to CoreLogic Real Estate Solutions General Manager, Chris Bennett, “Having a powerful, scalable solution will help address a major gap in the marketplace, while also allowing us to diversify and strengthen our product offerings. We look forward to working with Graphiq and integrating their visualization tools into our products and services in the future.”  CoreLogic was recently awarded the Innovator of the Year Award by real estate news publisher, Inman News. It is great to see CoreLogic leveraging their massive data repository to drive innovation into the hands of MLSs and brokerages. This arrangement with Graphiq will deliver tools that the practitioner can use to play a more significant role in […]

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Consumer Questions a Broker Website Must Answer

by Victor Lund on April 25, 2016

Businessman Protecting Piggy Bank And House Model

There are less than 2% of the homes for sale around the nation today. Typically, that number is 3.5%. Hence we are in a sellers’ market. So the consumer thinks – “Where am I in the market?” What Home Can I Buy? Over 90% of consumers looking to purchase a home have one to sell. The rest are currently renters or second home purchasers. Buying a home is never about buying what you want. It is always about buying what is right for you. The old story of Location, Location, Location is a bit lost on me today, unless it stands for Location Convenience, Location Suitability, and Location Affordability. There may be some others, like Location Timing as well. Regardless of where you live, there are places where you need to go – like work, school, shopping, or whatever. Where you live as a proximity to those things counts for you. I love TLCengine because it allows consumers to plot those points of interest and find properties in the radius of convenience. This also has a major influence on affordability as proximity mitigates commute times, insurance prices, childcare costs, etc. Unfortunately, I think that the application is only available in the NorthstarMLS market area MLS. Suitability is more of a lifestyle question. How do you flow in your home? Beds, garages, yards, kitchens, dining rooms, living rooms, and local area amenities change the attractiveness of a location based upon the suitability to the people living in the property and in the neighborhood. This is why I think that lifestyle search engines like Onboard Informatics is so important to consumers. Affordability is perhaps the biggest concern. Consumers choose unrealistic price ranges all of the time when they are searching. They really need to be pre-qualified before they can truly search for a home unless they are paying cash. What about closing costs and estimated and historical property taxes? Most broker websites do not have the information to understand this unless they are licensing data from CoreLogic or some other source. I love that CoreLogic is planning to make this data available to website vendors through their new RETS server called Trestle. It will open the innovation door wide! What’s My Home Worth? That is a loaded question, one that created the most valuable company in real estate – Zillow. Half of the real estate industry pivots around this question, as it […]

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CoreLogic and Instanet Get Married

by Victor Lund on November 6, 2015

WAV Group will be publishing a case study later today about how Hunt Real Estate leveraged Instanet, and MLS solution to deliver more value across their brokerage. There is a lot of alignment between the broker customers and MLS customers of both firms.   November 06, 2015, Irvine, Calif. – CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today announced that it has signed an agreement to become the exclusive provider of Instanet Solutions® to clients of its market-leading real estate platforms, including Matrix™, Realist® and AgentAchieve®. CoreLogic real estate solutions are used by more than 900,000 real estate professionals across North America. Instanet is a leading provider of solutions that help streamline and automate real estate transactions. CoreLogic will offer the entire Instanet Solutions suite to its clients and will provide InstanetOffers®, a new marketing solution for agents and brokers, to its multiple listing platform clients at no cost. CoreLogic will also offer services from Instanet Solutions that enable multiple listing organizations to manage contractual relationships with subscribers and third parties. ‘Everyone at Instanet is thrilled to team up with CoreLogic,’ said Martin Scrocchi, chief executive officer of Instanet Solutions. ‘CoreLogic is a market leader in multiple listing and property information solutions; their endorsement and support will help Instanet Solutions connect with a wider audience than ever before. The special integration we’ve achieved between Instanet, Matrix and Realist empowers agents to instantly generate and auto-populate transactions and forms from any listing or property-and that’s a proven path to easier, faster transactions.’ CoreLogic clients who already use Instanet products will continue to work directly with Instanet. CoreLogic will continue to support clients of its own document and transaction management solutions while providing a smooth transition path to the Instanet Solutions suite for those interested in doing so. ‘Instanet’s rich history in the multiple listing and brokerage arenas, combined with the breadth and strength of the solutions they offer has no parallel,’ said Chris Bennett, general manager of real estate solutions for CoreLogic. ‘Forging a strategic alliance with the segment leader is the best way for us to serve our clients. We will provide ongoing support to our document management clients and are prepared whenever they are ready to upgrade to Instanet.’ For more information on CoreLogic real estate information technology, visit www.corelogic.com/res. For more information on Instanet transaction management technology, visit www.instanetsolutions.com. About CoreLogic CoreLogic (NYSE: CLGX) is a leading […]

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America’s Largest MLS Offering System of Choice

by Victor Lund on November 4, 2015

One announcement that was made around the Council of MLS meetings was the intention of the California Regional Association of REALTORS to offer the Paragon MLS system alongside the CoreLogic Matrix system. This was a big topic of conversation in our recent webinar, the most recent installment in our ongoing WAVes of Change series. Just think about it – they will be running in parallel forever. History CRMLS is a complex MLS. They support 78,000 subscribers and they plan to grow. California has a lot of Paragon installations in California, including some large MLSs like San Diego County and a more modest sized MLS in the Eastern Bay of San Francisco. There are much smaller accounts scattered around the state. San Diego is a neighbor to CRMLS and they share overlapping membership in Northern San Diego County. Strategy From a strategic perspective, the size of CRMLS is justification enough to offer different systems. We have witnessed this before in Chicago where they offered three systems years ago, and in the Dallas and greater northern Texas market where CoreLogic’s Innovia system was offered because of its support for mobile web and Mac OS. Front end of choice has been around. In Chicago the thought was that one system would rise above the other. That did not happen. Agents will not change systems unless they are forced to. For CRMLS, front-end system of choice provides their subscribers with variation. Different systems appeal to different audiences. Offering system variety is also not foreign to the company. When CRMLS was formed, they offered Discover MLS, MLXchange, and Tempo. In many ways, I think that CRMLS drew success from system flexibility and this may be an effort to return to those roots. Rapattoni, another heavily adopted system among California MLSs, has recently shared that they are not opposed to operating their application as a front end of choice. Complexity One of key complexities of the construct is getting the vendors to work together in a way that does not require CRMLS members to pay for two systems. WAV Group’s understanding is that payments are only the active users on each system – not a site license, will pay vendors. The means for calculating users is not public at this time. I think this will create some healthy competition among the vendors to deliver excellence and innovation. The Single Sign On to supporting applications to each […]

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It is RESO week. The week when CIO and CTO types gather together in Austin, TX for the Annual Real Estate Standards Organization meeting. This year’s conference was sold out for the first time with a rumored count of more than 700 participants. Kevin Hawkins of WAV Group Communications says that the environment and buzz at the conference is amazing. You can follow Kevin’s RESO updates on Twitter @RESO_RETS  or follow the RESO hashtag at #reso15 to listen to the conference chatter. One of the astonishing calls that I got today was from an MLS asking me if CoreLogic was providing their new RESO compliant/certified Trestle solution to non-corelogic MLSs for free. The Answer is YES! We verified that Black Knight Paragon customer Coastal Carolina MLS is going through the certification process on the Trestle RETS platform from Corelogic. WAV Group’s understanding is that Black Knight and other MLS system vendors may be charging a reasonable one time fee for their customers to update their RETS servers and go through the certification process. We did not check with every MLS vendor to find out the policy. We have learned over time that these types of fees are often calculated on a market by market basis anyway. CoreLogic is not charging any fees for compliance at this time. Brokers and technology vendors who rely on RETS have long been frustrated by the lack of a single standard and a RESTful API for too long. The National Association of REALTORS MLS policy committee made the RESO standard a requirement for NAR-affiliated MLSs over 16 months ago. The deadline for meeting that requirement is December 31st of this year. The requirement to provide the RESTful API is July. This is a huge endeavor for every one of the 770 MLS in America today. RESO has not announced how many are certified. WAV Group has watched for the announcements and it seems like about 50 to 100 have gone through the process. There are only 60 days left for MLSs to get certified! In truth, every vendor of MLS services is involved in RESO and it is not unreasonable for a vendor to charge a fee for the service. It is a major undertaking. The biggest challenge is that the MLS must fill out the paperwork and pay the RESO application fee before the vendor can do anything to update the system in time for the […]

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CoreLogic Purchases LandSafe Appraisal

by Victor Lund on August 10, 2015

I always thought that it was a bit incestuous for Bank of America to own LandSafe Appraisal. I could never understand how they could use their own appraisal company and insure an arms length loan transaction. Soon, LandSafe will be part of CoreLogic. LandSafe is an appraisal management company that employs about 500 appraisers and operates a Qualified Appraiser Network of independent appraisers. LandSafe was a wholly owned subsidiary of Bank of America and providing services to Bank of America mortgage. CoreLogic will now be the vendor to Bank of America. The size of the transaction is reported to be $70 Million. CoreLogic has long been a leader at delivering data solutions and software solutions that enable appraisers to have indispensible information at their fingertips to perform the most accurate appraisals possible. The quality of those solutions is fundamental to the risk associated with mortgages. Banks like Bank of America and others would be hamstrung without a robust group of appraisers. They are the human element collect facts leading to consumer home finance. According to HousingWire (http://www.housingwire.com/blogs/1-rewired/post/34721-monday-morning-cup-of-coffee-corelogics-purchase-of-landsafe-confirmed) Solutionstar, Findelity and Solidifi were all in the running to purchase the company. This is a solid win for CoreLogic. It seems to strengthen their bench in the appraisal business and reinforce their dominant position as a leader in other areas like consumer credit reporting and consumer verification services. Another product that leverages many of these data services and assets is RentSafe, which is growing in popularity among leading MLSs in America. The $70 Million did not seem to faze the capital market for either company. CoreLogic’s market cap of just under $4.5 Billion traded down slightly when the rumor hit the media on August 6th. The stock is trading higher today.

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MLSs and their vendors are staring down the barrel of the NAR requirement to become compliant with the RESO RETS Standard. Only 4 MLSs are currently certified, 764 to go. It’s really a double barrel, as MLSs are also adjusting to Listhub’s loss of syndication service to some leading portals. MLS vendors like Corelogic, FlexMLS, Rapattoni, Black Knight Financial, and the others are head-down developing solutions and launch plans to help their clients meet the December 31st, 2015 deadline – looming a short 6 months away. The deadline has created an eerie silence that makes me wonder how many MLSs will miss the date. The bigger question is what the NAR will do about it. According to CoreLogic customers, their vendor is launching a product called Trestle to serve the needs for RETS 1.3 compliance – but also extend the functionality of their RETS server by incorporating a dashboard empowering each MLS with an easy, self-managed distribution alternative to Listhub (from MOVE) or reDataVault (from RED) or Direct Syndication Platform (from Bridge Interactive). Best part – CoreLogic clients indicate that there will be no charges to the MLS for core services that replicate existing RETS. Part two of the RESO RETS Certification process is the delivery of a WEB API by the middle of 2016. Again, Trestle will deliver that requirement too. The announcement of this launch is timely. It looks to me like CoreLogic also plans to make a single API available to vendors for all MLSs that have valid MLS data licenses in place. That will solve many problems for application vendors like IDX service providers who would otherwise need to interface with multiple web APIs. In addition to the MLS data, for an additional fee CoreLogic plans to provide consolidated access to data sets normally found in REALIST including public records, property data, geographic overlays, AVMs, etc. CoreLogic’s strategy looks well thought out. It seems to encompass many strategies that other MLS vendors plan to deliver. It feels a little bit like a mash up of the best processes. I know that their customers are breathing a sigh of relief. Brokers, vendors, and MLSs should reach out to CoreLogic and other vendors to understand their plans. The landscape of data distribution in our industry is about to shift in a significant way.

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ePropertyExtra from CoreLogic

by Victor Lund on February 24, 2014

CoreLogic sent out an email recently about eProperty Extra that was forwarded to WAV Group by numerous MLS with tons of questions. Rather than answer each of them individually, here is an overview that may be helpful in understanding the program so that you may facilitate a consideration by your board of directors. What is it? eProperty Extra is a rewards and loyalty program. 30,000 brands make their products available at a discount. Moreover, users get points when they buy through the program that can be exchanged for other benefits and merchandise. Agents will save money on many of the things they buy the most thanks to you. Moreover, agents may enroll their customers in the program and extend the same benefits. The MLS version is co-branded to the MLS as a member benefit. When your subscribers enroll their customers, the program is branded to them. Some of the merchants using the program include Priceline, Lenovo, Expedia, Restaurants.com, Best Buy, HomeDepot, Nordstroms, etc. Fidelity Title has offered a similar program for more than a decade. Cost eProperty Extra is free. There is no budgetary consideration in offering this program to your subscriber base. Also, there is no catch. Nearly every fortune 100 company offers a program of this type to their employees. The difference here is that you would be making this available to your subscribers and they have the option of extending it to their customers. Its always free, all of the time. Adoption and Non-Dues Revenue I did a little web research, and companies like AT&T, JPMorganChase, Bank of America, and others offering these loyalty programs see an average monthly usage of 39%. As people use the service, revenue is generated from merchant advertising and split between CoreLogic and you. WAV Group does not have any information about the revenue being generated by the program with MLSs who are early adopters. You may want to ask CoreLogic about this, but I would not expect that they have enough information to predict what your revenue will be at this point. I would suggest that you expect nothing and hope for the best. After the first year, you can begin to forecast revenue relative to adoption. Do your research I have been trying the program for a few months and I have saved a lot on restaurants. I have not really used it for anything else. If you contact Kim McLean […]

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Top 5 Broker Website Trends for 2014

by Victor Lund on December 11, 2013

There is a significant gap in the depth of information found on listing portals vs. broker websites today. Aside from marketing acumen and marketing investment, the quality of the experience is simply better on many portal sites. A few years ago, portals dominated brokerages with map search. As brokers got a handle on that, portals evolved with the single, Googlesque search bar. Most good broker sites have gotten a handle on that now too. But the bar continues to move in new directions. The biggest gap seems to be the information contained on the listing detail page. I had a chance to review and discuss this gap with some leading brokers this week and take their temperature on how they plan to address the information gap in 2014.  The responses were fascinating. To begin with, there is a legacy rule that is lingering on many MLS IDX rules regarding commingling MLS data with other data sources. Most of the progressive MLSs have stricken that rule. To all extents and purposes the rule only limited brokers from being competitive. With that rule out of the way, brokers are free to augment listing data with the data that consumers yearn for. Here is the top 5 countdown of features brokers plan to integrate into search or the listing detail pages in 2014. #5 – Drive Time – 21% of Brokers Plan to Integrate Drive Time Search – A new company called INRIX peeked into real estate this fall offering Drive Time data via API. This company collects commute times from cell phone data at a rate of a trillion bits per second or some crazy number like that. You have experienced this when you map something in your car’s GPS or on your phone and it estimates drive time and updates for traffic. Using the INRIX API, consumers or their agents can provide property search results on areas according to drive time. In most metropolitan areas, commute time to school and/or work play a significant role in selecting a neighborhood. #4 – School Zone Attendance Search – 29% of Brokers Plan to integrate this feature in 2014. School Zones have been a hot debate because of the legal implications. Brokers have legitimate concerns about liability if the data is not accurate. The good news is that the data is pretty darn accurate today and disclaimers help overcome the liability. Delta Media, Real Estate Digital, […]

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Join WAV Group for an informational webinar on advertising in an Association owned MLS! This webinar will feature a Q & A session with GLVAR, BNAR, and GEPAR – three leading Association-owned MLSs who have launched advertising programs to help generate non-dues revenue. If your Association or MLS is considering adding or modifying your advertising strategy, be sure to register today! You are encouraged to prepare questions and invite your leadership to attend this webinar as well. There is no fee for attendance but the capacity of the meeting room is limited to 1000. Register early to ensure your access. Date: September 12th, 2013 Time: 1 pm Eastern / 12 pm Central / 10 am Pacific [Please adjust for your time zone!]   Click here to register   Moderator: Victor Lund, WAV Group, Inc. Panelist:     Nelson Janes – CEO, GLVAR will discuss how advertising on their public website (http://homelasvegas.com/) funded a new website, along with an overview of feedback on the strategy from the perspective of the membership and the board of directors.     Linda Doane – Vice President and Publisher, BNAR and operator of the public site, 2FindYourHome.com will talk about how their print publication and online search site combine to compliment the advertising strategy. They have been particularly successful at attracting Brokers, Agents, and Homebuilders to advertise in their publication and on their website. Learn why members would rather purchase advertising from the Association than the newspaper or other magazine publications.       Jason Sanchez Jason Sanchez – Director of MLS and Technology, GEPAR. The GEPAR board of directors took a bold initiative by placing advertising in the MLS system. Sanchez will talk about the process of developing the strategy and the feedback from the membership.   Disclaimer: This webinar is sponsored by CoreLogic. The company launched a new advertising program called CoreLogic Real Estate Advertising Network (CREAN) in 2012. The webinar will not be providing any product information. Please contact your CoreLogic account manager or Todd Costigan (tcostigan@corelogic.com) if you would like information about their ad network. WAV Group and RE Technology do not endorse any product or service. We strongly encourage Brokers, Agents, MLSs and Associations to thoroughly investigate a variety of solutions before selecting a vendor for any service. For a complete list of suppliers of Advertising solutions, visit RETechnology.com

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Revenue Generation Emerges in MLS strategy

by Victor Lund on August 14, 2013

MLSs are for profit entities. They have investors and a board of directors and have a stated goal of providing returns. Normally, the investors in the MLS are the Associations of REALTORS® or brokers that put up the initial funding for the MLS. The MLS was the natural extension of sharing property listings between real estate professionals pre-dating the founding of NAR. When printed listings were replaced by the electronic MLS, the business model, payment per month by members continued. That model still exists today and is in line with how software as a service (SaaS) is typically delivered across all enterprises. MLSs have a choice each time they add a new service. They may supply the new service as a component of monthly subscription fees, or allow agents to pay for it a la carte. There is a current debate today between Agents, Brokers, MLSs, and Associations about what is included in subscription fees and what is not. Some MLS constituents want the MLS to provide a robust and comprehensive suite of services – MLS, Tax, CMA, CRM, Listing Syndication, Agent Website, Lead Management, Marketing through an MLS consumer site, , Virtual Tour, Appointment Software, Lockbox, eSignature, Transaction Management, Document Management, Forms Management, Data Licensing, Newsletter Marketing, Demographic Data, Market Data, AVMs, Market share data, Training, Reverse Prospecting, MLS Security and Single Sign-on, WalkScore, Custom Reports and Property Flyer Maker, Floor Plan software, Data Checking software, Data Sharing with other MLSs, Photography services, Foreign language support, Data Feeds to agent and broker technology vendors, school data, sign riders, and agent ratings. That was the best I could do at picking categories – there were 38 in all – and all of these services cost dollars rather than pennies. Here is the debate. Many large brokers who contribute the most revenue to the MLS do not want the MLS to add services that duplicate tools they already provide to their agents. They call this practice – “leveling the playing field.” From the list above, aside from MLS, Tax, and lockbox – most large brokers offer these services. They offer these services to their agents for a number of reasons, including recruiting, retention, and to differentiate their services to the consumer. If the MLS offers the service, the broker and its agents are compelled to pay for them, and the broker still carries the financial burden of duplicating the services for […]

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A new tenor to integrated solutions for brokerage

by Victor Lund on June 25, 2013

I was in Seattle a few weeks ago visiting a broker when I encountered the Trulia team in the airport heading over to Market Leader. During the entire flight home my head spun with ideas about how these two companies would blend their talents to serve consumers and the real estate community better. We have clients who leverage these companies to their fullest, and others who don’t. It has never been the providence of a consultant to champion one strategy over another. Helping others execute the strategy that is right for their business to maximize their opportunity is our charge. Pick a plan and make it work. With that in mind, brokers are challenged with absorbing leads from multiple sources. LeadRouter does the best job, which is great if you are a REALOGY Franchisee, other brokers are left to their own devices. But LeadRouter ends at lead distribution – there are only minimal follow up campaign capabilities. This causes all sorts of data problems related to tracking, distributing, and reporting on leads by lead source, lead quality by lead source, and lead conversion by lead source. Listhub and reDataVault have done a respectable job of helping on the reporting side, but there is more ground to cover to perfect those reports and get a full picture. Lots of broker solutions providers have engineered lead rounding and lead management tools – but you often need a programmer named MacGyver to get it to work. Leads from publishers are all unique and require unique programing to capture the email lead, scrape the information, add it to the lead management data base, then try to do something with it. It is hard. Once you do have your leads being routed, you need a solution to manage those leads. Brokers who have end-to-end CRM solutions like LoneWolf’s brokerWOLF, Homes.com’s Homes Connect, CoreLogic’s AgentAchieve, or Real Estate Digital’s rDesk have these capabilities. They are all integrated. This is also true of Market Leader’s broker solution. Brokers who do not have lead management or drip marketing can also look to Market Leader, leadtrax or Imprev to fill the gap. These solutions all curate leads into customers for life by making it easy for brokers and agents to stay connected to providing information and service to the homebuying or selling consumer. Both Trulia and Market Leader know that lead conversion is the most valuable product they can deliver. […]

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Move, Inc. logo

MOVE published a release today announcing that Errol Samuelson has been promoted to Chief Strategy Officer, expanding his role at the company. The full press release is below. You may not know that Errol was once part of the most powerful team in real estate. I call them the four horseman  – Errol plus Marty Frame, Prem Luthra, Ben Grabowski. All four have gone on to great success. Marty Frame is a leader at RPR. Prem Luthra is a leader at Real Estate Digital. And, Ben Grabowski is a leader at CoreLogic. They play pivotal roles in four of the largest and most successful companies in real estate technology today. Over the years, Errol and his family have become personal friends of ours. For most people in the real estate industry, I suspect that is true. Beyond his professional stewardship of his responsibilities at MOVE, he is a impassioned supporter of great industry principles. He also surrounds himself with a likeminded team. Kudos Errol! Take a look at the press release below. It outlines a few milestones of his career at MOVE. Errol Samuelson Appointed Move’s Chief Strategy Officer Seasoned leader promoted into newly created role to guide company strategy Apr 4, 2013 12:00pm SAN JOSE, Calif., April 4, 2013 /PRNewswire/ — Move, Inc. (NASDAQ: MOVE) today announced that Errol Samuelson is promoted to Chief Strategy Officer, expanding his role at the company. To capitalize on its strong 2012 results, and to fuel growth and drive sustainable competitive advantage the company created the new role and promoted Samuelson to fill it. “Errol has more than ten years experience with Move and twenty years in technology and real estate,” said Steve Berkowitz, Chief Executive Officer of Move. “He’s worked in both strategic and operational roles. He’s the perfect person for the job. This will be transformational for Move’s employees, customers, partners, and shareholders.” At Move, Samuelson led the team that acquired TigerLead and Relocation.com in 2012, and before that, SocialBios, ListHub, and TopProducer Systems. Through these acquisitions, he helped Move build the most complete set of real estate solutions and publishing tools in the industry, one that also protects the rights and intellectual property of brokers and multiple listing services. For realtor.com, a leader in online real estate operated by Move, Samuelson launched the 2007 program to increase the accuracy of its listings, with most listings now updated every fifteen minutes. He […]

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RBI Goes Nationwide With CoreLogic

by Victor Lund on March 22, 2013

Core Logic and MRIS

rbiEXPERT is now being launched nationwide through a partnership with CoreLogic. MLSs interested in this service should contact RBI or CoreLogic to reserve placement in the integration schedule. RealEstate Business Intelligence, or RBI is a subsidiary of Metropolitan Regional Information Systems, or MRIS. The company was formed to meet the market analytic needs of roughly 40,000 subscribers to the MLS system in the Mid-Atlantic States – Maryland, Virginia, Washington DC, parts of Pennsylvania, Delaware, and West Virginia. Their premium product, rbiEXPERT allows professionals to slice, dice, visualize, and share real estate market trends with their buyers and sellers in the best possible way. rbiEXPERT allows agents to pull real estate stats and reports and easily create interactive charts, to share with their clients. The key feature of rbiEXPERT is ease of use, empowering even the most novice agent the ability to instantly build tailored reports. It even has a component designed to work with smart phones and tablets, rbiMOBILE! For a number of years, rbiEXPERT has built adoption of their product by partnering with a number of the largest MLS services in the nation. It has allowed the product to develop its feature set in ways that support the local needs of diverse marketplaces from Florida (MFRMLS) to Arizona (ARMLS). The CoreLogic partnership is a significant development for RBI and CoreLogic alike. CoreLogic offers normalized public record data in nearly every county and zip code in America. The company is also the nation’s largest MLS service provider reaching around 632,000 MLS subscribers. CoreLogic and RBI have worked together to enhance the presentation of market metrics within the CoreLogic Realist platform using the names MARKETrends and MARKETrends Premium. MRIS has contracted with 1000Watt to utilize the Nudge platform to allow agents to publish market information to their clients. Nudge was established with the foundation that agents are the market experts in real estate, but that knowledge was difficult to communicate elegantly to consumers. With a series of simple, embeddable HTML5 market trending indicators, Nudge enables agents to convert complex economic housing data into simple to understand visuals that can be published on websites, mobile, email, or social media. Nudge, coupled with the market analytics of rbiEXPERT and the comprehensive and accurate data assets of CoreLogic creates a powerful tool for real estate professionals. Press Release   —RBI Data Visualization Technology Available to Non-RBI Customers for First Time—   IRVINE, Calif., March […]

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Goodbye Mongofax

by Victor Lund on March 15, 2013

mongofax

Mongofax was awesome. Now it is no more. The company is closing today. It is never a celebration when companies go away – jobs are lost and customers who relied on their services scramble to find a replacement. I am pretty sure that their primary marketplace was in Florida. Instanet, which supports faxing as a feature of their forms solution may have put pressure on Mongofax. According to a post by Jeremy Crawford of MLS listings over on the VendorAlley Blog – the Mongofax’s patent is available for purchase For Associations and MLSs that offer ZipForms, be aware that zipVault can replace Mongofax.  Corelogic is also rushing in to help out some MLSs left in the lurch. Here is the info on that. Are you a former MongoFax® customer looking for a new Fax-to-Email solution? Fax Manager from CoreLogic® provides multiple listing organizations with cost-effective electronic faxing, making it easy for members to digitize, share, and store documents.  Fax Manager is easily integrated with most MLS systems, even if it’s not a CoreLogic system.  You can start with Fax Manager and later expand into Document and Transaction Managers, and combine any of them with mobile access to create a paper-free, eco-friendly workplace. For more information and to set up an online demo for your MLS committee, contact your CoreLogic account representative, email Kim McLean at kmclean@corelogic.com, or visit corelogic.com/mls.

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IRVINE, Calif., February 6, 2013—CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today announced that it has entered into an agreement with Metrolist, Colorado’s largest multiple listing service (MLS) and provider of REcolorado, to provide the CoreLogic Matrix MLS system to 15,000 Colorado real estate professionals. For more than 25 years, Metrolist developed and hosted its own proprietary MLS systems. “The pace of innovation has profoundly accelerated since the company was originally founded in 1984 and we found that a transition to a vendor-based product suite made a lot of sense,” commented Metrolist President and CEO, Kirby Slunaker. “We’re really here to empower our customers and help them drive their business success. Through this partnership with CoreLogic, we will be able to offer our customers a comprehensive set of tools that extend beyond the MLS platform and deliver on our service promise to Colorado Realtors®.” CoreLogic will be the first MLS platform vendor to work with Metrolist in its history and Matrix is slated to fully replace the current MLS system in 2013. The multi-year agreement also includes other CoreLogic products such as Realist® public records services, MLS Data Checker (MDC), and its newest mobile product, GoMLS, which is powered by DoApp. “A full suite of MLS offerings is critical to our future strategic growth and was not available with any of the other vendor solutions we reviewed, making CoreLogic the best possible partner for us,” said Slunaker. “We are honored that Metrolist has chosen CoreLogic as its technology partner,” said Ben Graboske, senior vice president of Real Estate and Financial Services for CoreLogic.  “Over the next several months, we will be working closely with Metrolist to design a truly unique solution for the Colorado real estate market—one that will continue to grow as new requirements and technologies emerge. With Matrix as the foundation, Metrolist subscribers will have access to the rich property data homebuyers want, coupled with the blazing performance and broad device compatibility that top real estate professionals demand.” Metrolist is the largest MLS in the state of Colorado, supporting the largest network of Realtors® with the most comprehensive database of real property listings throughout the Front Range. Realtor-owned since 1984, Metrolist provides leading technology solutions to real estate agents and brokers to better serve buyers and sellers. More information about Metrolist is available at www.metrolist.com. About CoreLogic CoreLogic (NYSE: CLGX) is a leading […]

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For CoreLogic, Customer Focus Starts At The Top

by Victor Lund on January 14, 2013

george-livermore

CoreLogic is a solid company with solid earnings, low debt, and large cash reserves. As of late, their stock has performed very well. Much of their favor in the markets has been driven by the company’s focus on becoming more customer-centric in their approach to business. In a press release today, the media was provided with a taste of the new CoreLogic business strategy under the leadership of senior company executive, George Livermore. Livermore’s title was previously group executive and executive vice president for the Data & Analytics segment of CoreLogic. Today, George Livermore was named Group Executive, Global Sales and Client Strategy. Livermore has always been genius at leveraging CoreLogic’s expansive data assets into industry leading products. That is in his blood and unlikely to change. But, the board has clearly signaled that Livermore’s chief responsibility is to drive sales growth through client strategy. There was no mention of any other restructuring in the release. It will be great to watch how their customer strategy plays out in their MLS, Tax, and Broker businesses in 2013. Press Release Follows: Irvine, Calif., January 14, 2013—CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, appointed George Livermore to group executive and executive vice president, Global Sales and Client Strategy. In this role, Mr. Livermore has overall responsibility for sales and marketing and delivering on the Company’s enterprise growth strategy. Mr. Livermore has more than 25 years’ experience in the housing finance and property information business and was previously group executive and executive vice president for the Data & Analytics segment of CoreLogic. About CoreLogic  CoreLogic (NYSE: CLGX) is a leading property information, analytics and services provider in the United States and Australia. The company’s combined data from public, contributory, and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visit www.corelogic.com. Disclosure: WAV Group performs research and consulting projects from time to time for CoreLogic.

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Zillow brings 1.2M listings out of the shadow

by Victor Lund on October 29, 2012

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Since the housing market crash, there has been lots of discussion about shadow inventory. These are properties that are in bank foreclosure or pre-foreclosure that are making their way onto the market. Up until now, this inventory has been slowly released – perhaps strategically by banks who want to contain loss exposure – but more likely as a result of the slow process for foreclosure across America. The only thing slower than a bank’s decision making process is the US Court system. Last week, Zillow – one of the three leading search portals in America began to display 1.2Million listings. As a result, the shadow inventory is no longer in the shadow. What is interesting is that consumers are required to “sign in” to view these foreclosures in their area. I guess that this is Zillow’s version of a VOW. Just for fun, I signed in and looked at a home that was in foreclosure – 1220 Montecito Ridge 93420.  Zillow listed this home with a Zestimate of $1,235,887 – $52,000 below the Zestimate. I looked up the same property on REALTORS(r) Property Resource. The RVM on this property is $1,424, 000. The owner is the Reed family (information that you cannot get on Zillow) and they live in Santa Maria, CA (full mailing address is available in RPR). I think that agents should be very grateful that Zillow has made this data available, for free. Consumers are likely to find these homes on Zillow then contact an agent for information. This is where RPR comes in – as a REALTOR(r), beginning tomorrow – you can look up that distressed property and possibly reach out to the owner for a short sale. RPR becomes available to all REALTORS(r) tomorrow. You can also find this information in REALIST, or iMapp, or LPS Tax. It is not clear who is providing Zillow with this shadow inventory data. Could be CoreLogic, could be LPS, is probably both. It is also not clear to me who is getting access to all of the consumer registration data. Those buyer leads are more valuable than the listing data. Perhaps the next horizon for broker websites will be the inclusion of Shadow inventory. The data is available for sale. There may be issues in many markets whereby brokers are not allowed to co-mingle MLS data with non-mls data. A separate search will be necessary to skirt this rule.

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CoreLogic 2012 User Group Meeting and Summit

by Victor Lund on June 13, 2012

corelogic

WAV Group partner, Victor Lund will be attending the 2012 CoreLogic User Group Meeting and Summit in Chicago next week. The event looks to be information-filled with presentations that provide insight in guidance into the future developments of MLS systems that power about half of America’s MLS. Some of the topics include updates on the ongoing development of the core functionality in Fusion MLS, Matrix, and Tempo. These systems are deployed to many of the largest MLSs in the country. CoreLogic will also be releasing information on advances in Mobile, Fusion CMA, Social Media, Fusion Contact Management, Fusion Stats Pro, RETS, and Realist. The company will offer many product break out sessions to to discuss future product features and gather customer feedback on how CoreLogic can improve its products and services. MLS executives provide some of the best ideas for new features, and system UI enhancements. WAV Group is among the leading consultants providing strategic planning, research, MLS Consumer Website Planning, and vendor selection services to the MLS industry. WAV Group is launching a new program called Consumer Source aimed at collecting consumer information that informs strategy in real estate.  Lund will also be meeting with MLSs about RE Technology – a free communication resource made available through MLS partners to more than 700,000 real estate professionals. RE Technology is particularly excited about the recent roll out of SuccessStore and SuccessTracker – its eCommerce and App Store solution that supports MLSs and Associations at providing technology solutions to agents and brokers. If you need to carve out some time to meet with Victor Lund, call 805-709-6696 to schedule some time.

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