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IRVINE, Calif., October 30, 2017—CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced it has successfully converted 46 data recipients of the Central Texas Multiple Listing Service (CTXMLS) to Trestle™.  CTXMLS is a regional service provider operated by five REALTOR® associations with approximately 3,600 members. Trestle by CoreLogic is a leading real estate data management and distribution platform that offers RESO Platinum-certified data access to real estate brokers and technology providers. “Customers are seeing the benefit of moving their data feeds to Trestle as they are able to offer RESO compliant feeds, managed with sophisticated digital license agreements and ecommerce,” said Kevin Greene, senior leader of Product Management for CoreLogic. “CTXMLS is among the first clients to migrate the majority of its data recipients to Trestle, and we’re extremely pleased with how smoothly the transition has gone.” According to Beth Gatlin, consulting director of CTXMLS, their technology vendors and other data recipients recognize the value Trestle delivers, such as improvements to listing delivery speed and data consistency. Many of their vendors were already using Trestle in other markets, making the CTXMLS integration a familiar and straightforward process. “Forcing change is never easy,” said Gatlin, “But we are already more than halfway through the conversion with 46 companies moved over. We hope to have everyone moved over in early 2018.” Gatlin also said Trestle’s contract and billing features are outstanding new tools that simplify the management of CTXMLS data licenses. Interested technology providers can visit http://trestle.corelogic.com to get technical information about integrating CTXMLS data and electronically submit their data license application, which will then be routed to CTXMLS staff for review. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.    […]

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CoreLogic Launches Partnership with SavvyCard

by Victor Lund on October 24, 2017

In the press release below, CoreLogic announces a partnership with SavvyCard that will allow CoreLogic MLSs to consider this new optional service. As you may recall, CoreLogic has been focused on enhancing the buyer portal within Matrix to make is a more full service solution for agents providing MLS information to their clients. On the mobile side, this is also accomplished with GoMLS. This new service is an alternative that combines a variety of important agent applications into a unique and simplified service that has some outstanding connectivity to social media marketing. According to Chirs Bennett, General Manager of Real Estate Service for CoreLogic, “SavvyCard a platform. That looks and feels like a mobile website. That has simple apps on it that any agent or client would know intuitively what to do with. It works smoothly on the backside to promote new listings straight into the agent’s Facebook page (with handholding along the way).  So now, an agent doesn’t have to find a responsive website template, drop apps on it, test it, remember to push their listings into Facebook, or act like a technical webmaster. It’s all done for them. It really is a responsive website in-a-box that looks beautiful on a mobile phone. And couldn’t be simpler.” A great example of a SavvyCard can be viewed and experienced at https://www.savvycard.com/tomscaglione/tom/6a13b_scid Here you can see the core functionality at a glance – the consumer can call, email, or text their agent; view the agent’s listings and search the MLS, view the agents profile, view the office locations and contact information of the agent’s brokerage, an most importantly…..social sharing the agent’s SavvyCard or listings is easy by both the agent and the consumer. There are lots of agents who do not have basic websites today. Savvycard gives consumers everything they need to find property information though the application. Going into the CoreLogic agreement, SavvyCard has already developed relationships with Associations and MLSs that reaches 70,000 agent subscribers. The hope is that CoreLogic can extend that footprint across the many additional markets that CoreLogic serves. Press Release to follow:       CoreLogic to OFFER SAVVYCARD TO MULTIPLE LISTING CLIENTS IRVINE, Calif., October 24, 2017—CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced an agreement to offer SavvyCard® to its multiple listing clients as a new social marketing service that helps subscribers deepen relationships with clients […]

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IRVINE, Calif., September 11, 2017—CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, announced today that its focus on innovation in real estate solutions is helping drive its market penetration to record heights. Across all its solutions for residential real estate—which include listing, property information, and brokerage management platforms—CoreLogic now serves more than one million real estate agents throughout the United States and Canada. The most widely used CoreLogic solutions are Matrix™, North America’s leading multiple listing platform with approximately 750,000 users, and Realist®, the real estate industry’s most popular property information and advanced mapping system with more than 800,000 users. Many clients use both Realist and Matrix, but the combined unique user count is over a million. “Serving a million unique users is a tremendous milestone,” said Chris Bennett, executive leader of Real Estate Solutions for CoreLogic. “We’ve worked hard to deliver the forward-looking solutions our clients need to thrive in the modern real estate economy, and this is the result. Now we’re focused on Matrix 360, a project that will combine Matrix and Realist on the same platform, culminating in a groundbreaking property-centric system that will set the standard for the entire industry. We showed off many innovative ideas for future development at our annual Real Estate Solutions User Group Summit in Dana Point, Calif., and our clients just loved it.” CoreLogic recently completed a multi-year conversion project to consolidate its legacy multiple listing platform clients on Matrix. Version 7.0—the latest upgrade currently rolling out to customers—introduced a responsive client portal that agents can use to collaborate with buyers on the home search process. “Our agent members are raving about the new Matrix client portal,” said Merri Jo Cowen, CEO of My Florida Regional MLS. “The design, the usability, the mobile-friendly interface… everything is great. Most importantly, homebuyers and sellers are loving it too.” About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on […]

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The MLS 2020 Agenda Overview

by Victor Lund on September 7, 2017

MLS 2020 Agenda

Ahead of CMLS, “The MLS RoundTable” published the MLS 2020 Agenda. It is a paper that provides a series of one-page perspectives from industry executives about the Future of the MLS (hat tip to Saul Klein who I give credit for coining the term). It is not clear how the people were chosen to opine on the agenda for MLS. Although there are a solid number of enlightened MLS thinkers in the report, there are many other great MLS executives that are conspicuous by their absence. The report is a good primer for the conference. The Association Problem (and Governance) There is some conversation about the relationship between the Associations of REALTORS® that own MLSs and the operations of the MLS itself. Much of this has to do with Governance. Bad governance kills great companies every time. There is an assertion that the association-based decision-making model is disastrous for the MLS – but there is no description about how the decision-making fails. Plenty of Associations have excellent decision-making models. I look forward to hearing more about what bad association decision-making models are. I agree with the premise that Associations can be troublesome for MLSs, but on different grounds. Associations profit from the MLS – and that is the biggest retardant of all if they are not providing any value to the MLS.  Associations should not be able to mark up MLS services 100% for doing billing.  If they are providing training and support, they need to be held accountable for their deliverables, required to have the right equipment for managing support, etc. I am just completing a project for a large firm who was being denied sales data in 12 markets – all Association managed MLSs with fewer than 500 subscribers. For most of them, a phone call or two cleared up the misunderstanding. The last 4 have been an issue. Two of them do not have full time staff running the MLS or the Association. I had to chase down the agent who was the president, educate them on the MLS policy that they have in place (yes, their rules clearly allow for sold data), and help them connect with their MLS vendor to add sold data to the feed (he did not know who to contact or their phone number). As it turns out, our broker client will be the first in those markets to have a sold […]

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IRVINE, Calif., August 16, 2017—CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, announced today it has unified the platforms of two multiple listing clients that recently merged to form a new organization called SmartMLS. SmartMLS uses Matrix™ by CoreLogic to serve 17,000 real estate professionals across all eight Connecticut counties, making it among the twenty largest multiple listing organizations in the nation. With more than 700,000 end users, Matrix is North America’s most popular multiple listing platform. The formation of SmartMLS involved the legal merger of the Connecticut Multiple Listing Service and the Greater Fairfield County Consolidated Multiple Listing Service, the unification of their databases and a conversion to the Matrix 7.0 platform. “CoreLogic has been with us every step of the way,” said SmartMLS co-CEO Kathy Elson. “When our two multiple listing organizations first got together to talk about a data share, CoreLogic was there to guide us. As our plans shifted from data share to a merger, CoreLogic remained flexible and put their best people on to make it happen for us. They pulled out all the stops for SmartMLS and I can say with full confidence that the creation of SmartMLS would not have been possible without CoreLogic.” “CoreLogic has been a phenomenal partner throughout our merger and conversion process,” said SmartMLS co-CEO Cameron Paine. “From our first conversations about what the merger might look like, their advice, willingness to meet our needs and execution on the project have been on point without exception.” Though the third smallest state, Connecticut has the highest per capita income in the United States and more than $13 billion in real estate transactions annually. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit […]

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Exciting news was announced today! Clareity has been purchased by CoreLogic. CoreLogic purchased the security company and the consulting company. Gregg and the entire Clareity team became part of the CoreLogic family effective today. WAV Group congratulates both companies. What it means for the industry….. I reached out to a few people to get their opinions and here is what I found. Inman News Summary – For the most part, this acquisition will be business as usual for all clients of Clareity. For obvious reasons, a lot of the comparative services that Clareity has provided will be carefully considered – ie – vendor selection or maybe MLS competitive survey. They are not shuttering the consulting services. Matt Cohen’s opinion is that CoreLogic intends to maintain the same policies with Clareity supporting competing MLS systems. Clareity will join Realist, ePropertyWatch, Listing Data Checker, Trestle, and the many other products that can service any MLS regardless of the core system. We will just carry on as usual. David Friedman, CEO of Boston Logic commented that he “did not know they were shopping.” Boston Logic is actively acquiring real estate technology companies and recently announced the acquisition of Property Base on June 1st of this year. The transaction was somewhat significant, but not reported. WAV Group’s surprise was that the companies have decided not to release the price of the transaction or the revenue of Clareity at the time of the transaction.  CoreLogic’s auditors probably set a threshold on material acquisitions that may not have been pierced. However, WAV Group suspects that the terms of the transaction could be shared publicly or filed with the SEC within a reasonable amount of time. CoreLogic is meticulous and hygienic when it comes to the obligations of a public company. Keep your eyes peeled. Ken Jenny pointed out that “Clareity Security’s prime feature is insuring tat every agent pays for MLS access. I suspect that Clareity Security is installed on most CoreLogic accounts. If nothing else, CoreLogic will be assured that they get paid for every seat in the MLS. I whish MLSs would invest as much in protecting data. The biggest security breach is going out via data feeds. MLSs should worry about that as a priority rather than a few real estate agents not paying the dues. The MLS is a very unsecure place to keep data.” Stefan Swanepoel had no comment but encourages […]

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Technology Provides Seamless Authentication Across Multiple Platforms IRVINE, Calif., August 2, 2017—CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, announced today that the company has added Clareity Security software solutions to its suite of Real Estate Solutions products. This addition expands the range of CoreLogic technology services to Multiple Listing Organizations and Associations in North America as well as product offerings for brokerages and their agents. Clareity® is identified as an industry leader in secure identity and access management.  Serving over eight hundred fifty thousand real estate professionals daily delivering over two hundred fifty application and service integrations. Clareity’s flagship product, SAFEMLS®, has been serving multiple listing organizations for a dozen years and its popular, custom-branded dashboard platforms serve hundreds of multiple listing organizations, associations, and brokerages across North America and will now do so using the CoreLogic solutions. All Clareity products and services are now part of CoreLogic, including their software solutions for secure authentication; single-sign-on (SSO); integration and workflow automations; secure messaging and communication; content management and business intelligence. “The Real Estate industry is full of visionary tech companies driving all of us forward,” said Chris Bennett, executive leader of Real Estate Solutions for CoreLogic. “Every day, a cutting-edge app or web service is introduced to agents and brokers to help them find and serve customers. The addition of Clareity solutions to the CoreLogic Real Estate Solutions suite helps tech companies deliver those innovative tools to users more transparently. We think our mutual cultures of commitment to moving our industry forward through innovation is a terrific catalyst for the benefit of our customers.” Gregg Larson, founder and CEO of Clareity, who will be joining the CoreLogic executive team states, “We’re thankful for our employees, customers, and integration partners for their continued trust in Clareity. We’re confident that CoreLogic’s dedication to customer centered innovation will help fuel the growth and enhancement of the Clareity line of solutions.” About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. CoreLogic delivers value to clients […]

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IRVINE, Calif., July 18, 2017—CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, announced today that clients of Trestle can now obtain Platinum-level data dictionary certification from the Real Estate Standards Organization (RESO). Trestle™ is the national data marketplace created by CoreLogic to address fundamental data access problems experienced by real estate brokers, technology providers, and multiple listing organizations. RESO promotes data standards and processes that facilitate software innovation, ensure portability, eliminate redundancy and achieve greater efficiency for all real estate transaction parties. “CoreLogic is a strong supporter of real estate standards and has marched steadily toward the highest level of RESO certification for our clients,” said Chris Bennett, executive leader of Real Estate Solutions for CoreLogic. CoreLogic elevated its RESO data dictionary certification from Silver to Gold in April and now has become the largest provider of Platinum-certified listing data in America, as well as the first major multiple listing platform vendor to extend Platinum certification to all clients. “Platinum certification was an important short-term goal for Trestle,” said Bennett. “With that in our pocket, we can now focus on expanding beyond our current 112 clients and achieving complete coverage across America. With Trestle providing a single source of highest quality listing data that spans the nation, there is simply no reason for technology developers to maintain hundreds of individual data feeds to power their agent and broker applications.” Trestle does more than simplify listing data distribution. The solution automates the process of requesting and obtaining data licenses from participating multiple listing organizations. A planned enhancement will provide access to leading CoreLogic parcel record data and automated valuation tools. For more information, visit trestle.corelogic.com. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please […]

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MLS data services for brokers, agents, and their technology providers are changing at a very rapid pace. The RETS Standards that are used by an estimated 97% of IDX and VOW solutions are converting to the RESO Web API. Being informed about this conversion is vital to the effective management of data feeds. WAV Group Partner, Victor Lund is joined by CEO of the Real Estate Standards Organization, Jeremy Crawford as he discussed the challenges and opportunities he’s hearing first-hand from brokers and technology vendors as they move toward receiving standard feeds. Did you know that RESO certification must be obtained with each new standard version released? Did you know that certification is free to RESO members? Did you know that technology providers can be certified? Did you know that RESO will evaluate your listing input form to roadmap how you can adopt the Data Dictionary on listing input? Kevin Greene of CoreLogic also joined us live to discuss Trestle™.  Trestle is the solution that CoreLogic is delivering to all of their clients to insure compliance with the RESO certification standards that are mandated for all MLSs chartered by the National Association of REALTORS®. The solution has been delivered to more than 112 MLSs, providing a seamless solution for technology providers to access more than half of the listings in the United States. The solution includes automation for processing the three way agreement and an ecommerce solution for MLSs to collect fees. The webinar was rounded off with an in-depth Q&A Session that discussed a range of topics from technical questions about JSON to practical questions about fees. Did you know that CoreLogic is offering Trestle to MLSs who are not on their Matrix platform? Yes, Rapattoni, FlexMLS, Paragon, and many other systems can join the Trestle initiative. Do you know what it means to go Data Dictionary Native in your MLS system? If you could not attend don’t worry, follow the link below to view the full webinar free of charge.             If you have any questions regarding the webinar please don’t hesitate to contact camilla@wavgroup.com

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Data Will Now Cross The Trestle

by Victor Lund on May 10, 2017

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Trestle by CoreLogic has been a sprint for the nation’s largest technology provider. On the heals of migrating more than 50 MLSs over to Matrix over the past 30 months, they had the added challenge of getting all of their MLS clients to be RESO certified (RESO = Real Estate Standards Organization). CoreLogic got them there, but at the Silver level of certification (Booooooo!). In a press release today, RESO has upgraded their certification on Trestle to Gold (Yeaaaaaa!) Why Trestle? Every MLS system vendor offers a server for publishing IDX and VOW data to enable brokers to hydrate their applications with MLS data. 100% of MLSs have these servers in place today and that is how vendors access MLS data. Application vendors who only serve customers in a single market tie to a single MLS live a peaceful life. However, when a broker or a vendor is connecting to more than one market, things get more complicated. Data Structure is different; field names are different; business rules for listing display are different; and so on. To compensate for the differences, major data aggregators like Wolfnet, Homes.com, and Xome have developed processes for pulling data from all 700 or so MLSs, normalizing it to a single standard, and supplying it to their broker and agent clients. These companies are the big guys with over 90% of MLS coverage. All other vendors do smaller groups of MLSs that varies from 2 to more than a few hundred. Guess what. Pulling data from over 700 servers with more than 2 million listing updates is not the only hard part in this system. The other hard part is the IDX agreements. The big companies like Wolfnet, Homes.com, and Xome have automated their IDX application process whereby the vendor, the broker, and the agent need to complete and sign a form. Xome’s RE Data Vault™ solution is also available to MLSs who are challenged with the document management headaches of managing all of the agreements. Imagine the paperwork of a large MLS with 30,000 subscribers, 500 vendors, and each subscriber having 3 data driven software applications. Yup – over 100,000 documents that need to be managed and signed. Trestle Does a Lot of Things to Fix All of This Vendors have a single place to access data from over 60 MLSs. Over 40 more have signed agreements eclipsing the market coverage area beyond 100. […]

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          —700,000+ Agents to be on Matrix by Yearend— IRVINE, Calif., May 9, 2017—CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, announced today the completion of a large-scale project to convert its Fusion™, MLXchange® and TEMPO® clients to the Matrix™ multiple listing platform. More than 50 clients on CoreLogic legacy systems were migrated to Matrix in less than 30 months. “Successfully converting so many multiple listing clients in two-and-a-half years is a great achievement,” said Chris Bennett, general manager of Real Estate Solutions for CoreLogic. “We completed all this work on top of at least 40 other client projects and new Matrix installations during the same period. It was a challenging project in many ways, but we gained a tremendous amount of knowledge and efficiency throughout the organization that will benefit all our clients.” Including additional conversions scheduled for 2017, more than 700,000 real estate professionals will be using Matrix by yearend. “Thanks to this successful conversion effort and the support of our clients, Matrix has grown to become the industry-standard multiple listing platform,” said Bennett. “With this project behind us, I feel like we have climbed to the top of a mountain, and now the sky’s the limit.” About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com. CORELOGIC, the CoreLogic logo, FUSION, MLXCHANGE, TEMPO, and MATRIX are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners. Media Contact: Alyson Austin Corporate Communications 949-214-1414 newsmedia@corelogic.com Investor Contact: Dan Smith Investor Relations 703-610-5410 danlsmith@corelogic.com

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Today, all MLSs in America are prepared to provide a standard set of data from across the nation. It’s the kind of data that portals have been aggregating for years, which is now being made available to real estate brokers. With great effort Redfin championed this strategy to become one of the most successful broker websites in America. We will be hosting a webinar surrounding these topics on Tuesday October 11th at 10:00am PDT. Register here today! Our panelists on this exciting webinar include:                                 For too long, brokers and their vendors have struggled with the difficulty of managing the different data structures and business rules of more than 700 MLSs. Today marks the beginning of a new era, where each MLS is synthesized into a single common format allowing brokers to provide services, across MLS boundaries without differentiation.  Be sure to register below for this one hour webinar to be hosted on: Tuesday October 11th at 10am PDT CLICK HERE TO REGISTER NOW!

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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

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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

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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